Knowledge management was defined as the turning of information into actionable knowledge which can be accessed by people who can apply it. Robbins (2003) gives a time perspective in his definition of knowledge management. He mentions as part of knowledge management the distribution of the right information to the right people at the right time. Lytras et al (2002) gives a definition of knowledge management which emphasises the purpose of knowledge management. In the definition creation of new capabilities, enablement for superior performance, encouraging innovation and enhancement of customer value were mentioned. For the purpose of this study the researcher summarised knowledge management as the intentional process of coordinating people, technology and systems to optimise creation and sharing of intellectual
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:
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 is critical to organizations. According to Gregory R. Wenig, knowledge management is consists of activities from its own experience and from the experience of others, and on the judicious application of that knowledge to fulfill the mission of the organization. In my point of view, I think that knowledge management is performed by organization to appropriately handle, distribute, and transfer assets of knowledge, experience, and ideas from individual
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.
Knowledge management helps to solve some of the most common business problems and at the same time delivers
Recent empirical studies have found support for the direct impact of knowledge on performance (e.g., Applyard, 1996; Decarolis and Deeds, 1999; Yeoh and Roth, 1999), Vera and Crossan (2003) suggest that the conclusion from these studies is not that more knowledge leads to greater performance, but the knowledge that is relevant may have positive effects on the organization performance. Therefore, knowledge management (KM) has been introduced to manage the relevant knowledge.
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.
This report looks at the use of Knowledge Management (KM) and Innovation as a strategy in an organisation and how organisations have adopted the concept and principles behind the Knowledge Management theory and implementing them into the organisation to measure the successful delivery of the strategy.
Knowledge management has gained substantial importance in the past few years due to the realisation of numerous advantages associated with efficient knowledge management. An improved decision-making process, considerable increased in productivity and quality, sharing of best practices, less circumstance for reinvention process, and increased development of the skills and talent of the workforce are some of the benefits associated with the knowledge management within the organisations. (Jennex, 2008, p.275). Efficient combination of previously unrelated elements and exchange of tacit knowledge helps in the creation of knowledge that correspondingly leads to appropriate transfer of the gained knowledge transfer (Nahapiet & Ghoshal, 1998). The implementation of knowledge management strategies depends a great deal
Knowledge management has been in the picture over the last two decades. Over those years it slowly evolved to the status of a discipline and growth. Knowledge management roots from multidisciplinary contributions that come together to support it. To be empowered with knowledge is very important during this time frame where economy can be directly related to knowledge. Knowledge can be broadly classified into two forms, tacit and explicit. “Knowledge typically resides in structured documents, informal discussions that may or may not persist online, and in tacit form.” (Grudin, 2006). Organizations use knowledge as a marketable good or an intellectual asset and are unique when compared with other marketable commodity.
Knowledge is something that comes from information processed by using data. It includes experience, values, insights, and contextual information and helps in evaluation and incorporation of new experiences and creation of new knowledge. People use their knowledge in making decisions as well as many other actions. In the last few years, many organizations realize they own a vast amount of knowledge and that this knowledge needs to be managed in order to be useful. “Knowledge management (KM) system” is a phrase that is used to describe the
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.
Knowledge management (KM) is the name given to the set of systematic and regimented actions that an organization can take to attain the maximum value from the knowledge available to it. Effective knowledge management normally requires a proper amalgamation of organizational, social, and managerial initiatives along with exploitation of apposite technology.
Knowledge management and information is the process of capturing, developing, sharing, and effectively using organizational knowledge.It refers to a multi-disciplinary approach to achieving organizational objectives by making the best use of knowledge. It includes the fields of business administration, information systems, management, library, and information sciences. Other fields may contribute to research, including information and media, computer science, public health, and public policy. Many large companies, public institutions, and non-profit organizations have resources dedicated to its efforts, often as a part of their business strategy, information technology, or human resource management departments.Several consulting companies provide advice regarding knowledge management to these organizations.