Knowledge Management Essay

When a certain point is reached regarding a company’s success, a set of different opportunities arise and partnerships may unfold. However, with every possible strategy available, risks and benefits also come into play; without discarding any of them beforehand, every option is a strong candidate until a final decision is made. In this case study we will analyze the current business strategy pertaining

Partnering with a competitor is becoming more and more common in today 's integrated, technology-based environment. This type of collaboration with a competitor is uniquely described as:

An example in aviation industry that has successfully employed a strategic alliance is Qantas Airlines, who entered into a non-equity strategic alliance with the large Middle-Eastern airline Emirates. Strategic alliances are evident

A firm can have either or both horizontal or vertical complementary strategic alliances. A horizontal complementary strategic alliance firms share some of their resources at the same stage of development (Hitt et al., 2015, p. 273). Well a vertical complementary strategic alliances allows for firms to share some of their resources from different stages of development (Hitt et al., 2015, p.271). The sharing of resources can also inspire partnering firms to adapt and use innovative thinking in order to adapt to environmental changes (Hitt et al., 2015, p.271). An example of this is the partnership between Disney, News Corp., and Comcast, which came together to form Hulu to distribute video content (Hitt et al., 2015, p.273). This partnership allows the firms to stream their content through Hulu

Rajat Gupta has recently inherited a fast-growing consulting firm with a strong knowledge base and a competitive market position. In order to ensure the future success of McKinsey & Company, however, Gupta faces a number of challenges: he must provide outstanding services to an increasingly sophisticated clientele, offer his employees ongoing education and upwardly mobile career paths, continually enhance McKinsey’s reputation as a leader in the consulting field, and, perhaps most significantly, continue to leverage his company’s knowledge base across divisions while still

A strategic alliance is an agreement between two or more parties to pursue a set of agreed upon objectives needed while remaining independent organizations. This form of cooperation lies between Mergers & Acquisition M&A and organic growth.

Barney, 1986 and Porter, 1980 holds that firms that exist in the same industry are in fact competitors. This assumption has been challenged by strategic-group literature which helps one recognize the significance of strategic group, which is likely to reveal how a

Knowledge management assists in renewing, developing, transferring, and sharing knowledge. This is based on produce value, economic wealth, and organizational performance. (Becerra-Fernandez & Sabherwal, 2010) This process creates value from its intellectual and knowledge based assets. Knowledge management leverges knowledge within an organization to provide a competititive edge. The fuctions within knowledge management acheives the goals of an organization to acquire additional knowledge within its operations to

Another alternative would turn out to be strategic alliance. In this strategy, the company would form an alliance with its potential competitors in the working environment.

A strategic alliance is the establishment of contractual relations between a company and a partner; it can involve competitors and usually does not lead to

The benefits of developing a strategic alliance for the European firm would be that they would be able to acquire knowledge of new markets and technology, develop closer links with their suppliers and customers and to reduce the pressure of competing with large competitors who are already established in the Australian market.

Non-equity strategic alliances are a form of agreements which are based on contracts and not the ownership sharing. The advantage of this form of alliance is the fact that there is information sharing just like any other forms of partnerships.

Knowledge Management is an organization’s methodology of making their intellectual assets as fully functional, or effective as possible. This is a systematic approach organized to enhance understanding. It’s the managing of information in a way that provides an organization with a competitive advantage.

In today’s modern day environment, the competition as well as the drive to be one of the best amongst organizations, is consistently increasing, especially after globalization. Due to which many organizations are no longer confined under certain boundaries, but instead are more intermingled. As an outcome, many organizations these days heavily rely on each other for sharing knowledge. Therefore, knowledge management is considered as a valuable component towards the success of an organization.

Chapter 12 highlights the different reasons for managing knowledge that include the need to respond accurately to globalization as well as rapid change, the need to manage communication and information overload, organizational downsizing, leveraging knowledge in order to gain competitive advantage as well as controlling knowledge embedded within different products in an organization. The author also elaborates how knowledge management can be viewed as a dynamic process, which involves the transfer, capturing, generation, and codification of knowledge. The chapter also asserts that business intelligence utilizes technologies and data to understand business performance.