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.

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

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

Strategic alliances are partnerships which are formed between more than one firm that will see these firms combine their managerial, financial and their technological resources as well as their individual competitive advantages for the sole purpose of pursuing mutual goals. These are often termed as cooperative strategies. There are several categories of strategic alliances in existence (Deresky, 2011). These forms of strategic alliances have their individual merits and demerits. The paper will look at examples of these strategic alliances highlighting on their advantages and disadvantages.

The term knowledge management has become common in businesses throughout the world. Despite its increased prevalence, there remains a large degree of confusion concerning the applied definition of what knowledge management is. Within the knowledge management community, attempts at defining this elusive term appear to be in constant flux. However, a basic description of what constitutes

Knowledge management – how organizations track, measure, share and make use of intangible assets such as an employee’s ability to think fast in a crisis – is increasingly important in a fast-changing knowledge society. Organizations have always managed knowledge, even if they did not use the term knowledge management. For example, a person experienced in operating or repairing a particular machine could pass their knowledge on to newcomers.

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.

It has become explicit that knowledge management is not just another fad which has been hyped up by the management consultants and technology vendors. (Remenyi, 2004).It is not facile to implement knowledge management successfully; in as much as it offers. Knowledge management panaceas depending on technology have not produced convincing results considering that more money has been spent. Remenyi went on to say that knowledge management is far more than a technological issue and thus, what is really entailed is a rethink with a prominence on the people side of knowledge management and such approach is the use of a knowledge café.