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ASSIGNMENT NO:2

What is Knowledge Management
Knowledge is derived from information but it is richer and more meaningful than information. It includes familiarity, awareness and understanding gained through experience or study, and results from making comparisons, identifying consequences, and making connections. Some experts include wisdom and insight in their definitions of knowledge. In organizational terms, knowledge is generally thought of as being “know how”, or “applied action”. The last point is an important one. Today’s organisations contain a vast amount of knowledge. Knowledge Management is the systematic leveraging of information and expertise to improve organizational and operational innovation, responsiveness, productivity and competency.

As the discipline matures, academic debates have increased regarding both the theory and practice of KM, to include the following perspectives[
 Techno-centric with

a focus on technology, enhance knowledge sharing and creation. facilitate knowledge processes best.

ideally

those

that

 Organizational with a focus on how an organization can be designed to  Ecological with a focus on the interaction of people, identity, knowledge, and

environmental factors natural ecosystem.

as

a complex

adaptive

system akin

to

a

PREPARED BY: TONMOY BORAH

3RD YEAR MBA (PT) Page 1

accurate knowledge can mean improved business performance Knowledge management is based on the idea that an organisation’s most valuable resource is the knowledge of its people. Benefits of Knowledge Management (KM) to organization: KM can offer the following:  KM can offer competitive advantage  May help to reduce cost and increase organisational efficiency  Enable’s organisation’s to be flexible enough to react and adapt to changing business and customer requirements  Enhancement of innovation and creativity  Ensuring of sustainable excellence  Improves “working on the go” by implementing knowledge repositories. The Knowledge Management Consulting initiative offers customers to collect. What is new is the focus on knowledge. Knowledge management recognises that today nearly all jobs involve “knowledge work” and so all staff are “knowledge workers” to some degree or another – meaning that their job depends more on their knowledge than their manual skills. organisation cannot ignore KM. sharing and using knowledge are among the most important activities of nearly every person in every organisation. This focus is being driven by the accelerated rate of change in today’s organisations and in society as a whole. Certainly in the information driven society of today. management and utilization of knowledge to generate business intelligence is a crucial differentiator. This is not a new idea – organisations have been managing “human resources” for years. improved performance. organize and utilize the enterprise knowledge base to achieve shared intelligence.   Increases employee productivity.ASSIGNMENT NO:2 Why are organizations investing in knowledge management initiatives? In the current competitive environment. but that does not necessarily mean that corporations should close the eyes to the benefits of KM. Of course not organisations have the resources and capabilities to build KM systems. The list can grow into an enormous size. PREPARED BY: TONMOY BORAH 3RD YEAR MBA (PT) Page 2 . This means that creating. creation. Enterprise executives understand that timely. competitive advantage and higher levels of innovation in their business operations. and makes management decisions more efficient.

And some of those processes can be very simple. changing people’s behaviours and work patterns. 2. In terms of how that is done. How would the KM initiative change the organisation in terms of how it conducts daily business function. information technology. In order for Knowledge Management to be measurable and be aligned to the business strategy the following need to be applied and taken under consideration: 1. KM Framework Figure: Knowledge Management (KM) Framework Generally speaking.ASSIGNMENT NO:2 What is being done to manage organizational knowledge? Knowledge management is essentially about facilitating the processes by which knowledge is created. librarianship. What technologies are available for implementing KM what are their advantages and their drawbacks? 3. human resources. shared and used in organisations. internal communications. the processes of knowledge management are many and varied. There are many ways of looking at knowledge management and different organisations will take different approaches. It is not about setting up a new department or getting in a new computer system. Is KM really feasible? Many of the processes that currently fall under the banner of knowledge management have been around for a long time. It is about making small changes to the way everyone in the organisation works. such as: PREPARED BY: TONMOY BORAH 3RD YEAR MBA (PT) Page 3 . how will it change the productivity and the organisation’s employees and how will it affect the current business processes. records management and marketing to name a few. and providing people with easy access to each other and to relevant information resources. but as part of functions such as training. creating a knowledge environment usually requires changing organisational values and culture.

 Providing ongoing learning so that people can constantly update their knowledge.  Putting staff directories online so that people can easily find out who does what and where they are.  Creating databases of all publications produced by an organisation so that staff can access them from their desk.  Redesigning offices to be open plan so that staff and managers are more visible and talk to each other more.books.com and www.google.wikipedia.ASSIGNMENT NO:2  Providing induction packs full of “know how” to new staff. A learning and growing organization is one in which knowledge management activities are deployed and expanding in order to leverage the creativity of all the people in the organization. management experts agree that learning and growth are the key to strategic success. making the information much easier to find.  Creating intranets so that staff can access all kinds of organisational information and knowledge that might otherwise take a great deal of time and energy to find.com PREPARED BY: TONMOY BORAH 3RD YEAR MBA (PT) Page 4 .  Creating electronic filing systems that can be searched in a number of ways.  Conducting exit interviews when staff leave so that their knowledge is not lost to the organisation. Ref:www. the foundation for the future.  Encouraging people with a common interest to network with each other. CONCLUSION: In conclusion.