World Bank Knowledge Management

Knowledge is defined as “an understanding and one that gains knowledge through experience, reasoning, intuition and learning” (Cong, & Pandya, 2003, p. 2). Individuals can inflate their knowledge when they share their knowledge with others, and when knowledge is combined with other people’s knowledge they will begin to build new knowledge. It is also considered as a mixture of values, experience, background information, grounded intuition and authority insight that offers a framework and environment for integrating and gauging new information and experiences. It “is applied in the minds of knowers and in organizations, where it is often embedded not only in documents or repositories but also in organizational routines, processes, practices and norms” (Cong, & Pandya, 2003, p. 2).

We can be the main force in the world of organizations if we are willing to be more accessible to the power of our field, but to do that we must begin to understand and build our skills with the essential concern of how to deal with

In traditional perceptions of the role of knowledge in business organizations, tacit knowledge is often viewed as the real key to getting things done and creating new value. There are two forms of knowledge that can be found in any organization:

Knowledge is increasingly significant as a major source of wealth at all stages of an economy. These knowledge assets collect from different options such as: Knowledge based database, internal interface and users. This study tries to present the relation between Knowledge Management and Knowledge Economy. An organization's capability to quickly tap into wisdom gives it a competitive framework in the marketplace. Knowledge economy is displacing capital, natural resources, and labor as the basic economic resources. This Paper emphasizes the major principles of knowledge of society and their consequences that give the better impact on the movement to paradigm to knowledge economy. Further, we discussed organization competitiveness represent as a critical success factor for modern organizations. At last in this paper we

Despite the negative connotation that ignorance has held throughout various time periods in history, there are moments when lack of knowledge has been extremely beneficial in the formation of new tools and technologies. Consequently, if there is no ignorance present in a situation, there is no way to ameliorate that ignorance into knowledge. Knowing the extent of one’s own knowledge can sometimes make a person wiser (Plato 429 BC). Furthermore, being aware of the limitations of one’s own knowledge should stimulate the desire to learn, due to humans being naturally curious creatures. Knowledge is something obtainable to everyone, only varying because of the various cultures and perspectives that exist worldwide. However, people sometimes refuse to expose themselves to divergent ideas because of their own knowledge that they perceive to be true, ceaselessly.

New and original technology may be created, but how can a person or group of people can implement or utilize the technology to try to maximize benefits as best as possible is the question that first needs to be analyzed. Researchers developed a process approach to how technology will be implemented to be used properly by people with minimal costs. The processes used in this approach are known as socialization, commitment, reward allocation, feedback, and redesign, all of which is a long, complex protocol to ensure that the technology is not used improperly or mishandled enough to warrant danger. In addition to the technology being implemented, organizations and businesses will be vigilant in knowing what technology is being created so they can invest in new technology for a competitive market position, to try to gain the upper hand over other organizations. The implementation process accounts for this as well; businesses are always striving to make more money and sometimes when new inventions or innovations are made, they may cater to the market in appeal so to make money. The imperative issue of how technology will be fully realized in its utility as time goes on, giving people more choices in what they want. Technology may be used for seemingly a vast variety of reasons but knowing how to fully utilize it is the real undertaking that should be considered and dealt with. Moreover, the idea of an approach in how to implement technology is important as well, as new technology

The theme of my paper pertains to the application of Social Technical Theory in Knowledge Management. Technology has changed the operation of business organizations around the world. Applying socio-technical theories in knowledge management advances the ability of one organization to rapidly disseminate and share information vital to the fast, sophisticated and highly demanding information technology superhighway. Timely and effective use results in competitive edge within the organization.

Knowledge is an intangible asset for any organization, composed of both a tacit and explicit aspects that are developed in a continuum throughout the life of a organization (Nonaka, Krogh, 2009). This process can serve as; a competitive advantage, creator a superior financial value, enhancer of creativity, developer of novel products or techniques, or functioning as a transformational vector inside a corporation. Being a collective and individual activity working through socialization, externalization, combination, and internalization (Nonaka, Takeuchi, 1999), tacit and explicit knowledge are merging and interacting in the development of organizational knowledge creation (Nonaka and Krogh, 2009). This process is crucial for the improvement

In a knowledge organization there is little “machinery” or tangible assets other than the employees. Employee competence is the muscle behind the people and the computers.The knowledge that employees bring to the table in ability and competence, if not expertise, must be considered intangible assets.

Nesheim, Olsen, and Tobiassen (2011) completed a study to determine how knowledge communities contribute to the application of knowledge within an organization. The firm selected is located in Norway and exists as a result of the merger

Video conferencing has revolutionized how business is done today. It allows two or more people in different locations to communicate simultaneously through two-way audio and video transmissions. It allows video collaboration of the group thus helps to provide the company with a high return on investment while keeping operation costs as low as possible. Today, there are low cost video conferencing systems that use features such as video compression and powerful processors. There have been vast improvements in the quality, ease of use and availability of video conferencing technology which has greatly influenced the ability for people to interact and share content thus enabling the meeting to go on as if all members were in the same room ADDIN EN.CITE Firestone200744(Firestone, Ramalingam, & Fry, 2007)44446Firestone, S.Ramalingam, T.Fry, S.Voice and Video Conferencing Fundamentals2007Indianapolis, IndianaCisco Press9781587052682http://books.google.co.ke/books?id=1nQcAAAACAAJ( HYPERLINK l "_ENREF_3" o "Firestone, 2007 #44" Firestone, Ramalingam, & Fry, 2007). The Management Group needs to embrace video conferencing technology in order to be able to keep in touch with their clients, company representatives and board of directors with ease

Banking technologies allow for online transactions, standing orders and the use of ATMs to make bill payments. Cardholders of some banks may use others ' free of charge and the banks themselves are becoming more open-plan, providing easy access to business

People can place ideas on platforms and these will progressively be modified or rejected but overall knowledge sharing is encouraged (Mpindiwa 2010). Cultural change is critical in the effectiveness of the intranet as a knowledge management tool and organizations can achieve this through the involvement of its staff in design and implementation of the platform, which will promote the culture and drive to use the intranet and hence lead to better knowledge acquisition (Oyekan 2007).

The main concept of this report is to discuss the concept of knowledge management and identify the existing knowledge reservoirs in World Bank. I will be focusing on Knowledge in people, Knowledge in artifacts and Knowledge in organizational entities. After that, I will be discussing the classifications of knowledge management in World Bank by using explicit or tacit knowledge, declarative and procedural knowledge and general, contextually specific and technically specific knowledge. Furthermore, the infrastructure used to support knowledge management will be discussed followed by knowledge management solutions. I will be discussing some challenges and giving some recommendations to be followed by knowledge management officer.

            For most customers, it is a convenience that they have grown accustomed to the electronic banking. And for the large commercial customer, processing thousands or even millions of payments and/or sales a day – it would be impossible to live without the attachment on it.3