Knowledge Management Best Practices in Services Industries
The ability to stay on in step with customers' rapidly changing needs is only possible when a company completely commits itself to transforming data into information, while also capturing and using tacit and implicit knowledge. As this analysis will illustrate, data, information and knowledge are multifaceted and have many implications across the lifecycle of a business in general and customers specifically. Concentrating on how the data pertaining to customers can be optimized, this analysis concentrates on the Service Quality (SERVQUAL) methodology and metrics. SERVQUAL measures five dimensions of the customer experience including reliability, assurance, tangibles, empathy and responsiveness (Parasuraman, Zeithaml, Berry, 1985). While the scope of this analysis concentrates on SERVQUAL from the standpoint of capturing data, information and knowledge from a customer standpoint, there are many ancillary implications that also apply to the knowledge-based theory of firms as well. The use of SERVQUAL-based intelligence in a company can fuel even greater strides in the effectiveness of the entire value chain. From this standpoint, SERVQUAL can fuel significant change that is predicated on the knowledge-based theory of firms. Leadership in 21st century needs to be dictated by the effective use of knowledge-based assets over physical ones, as growth is predicated on how well a company interprets its environments and reacts to it (Singh, 2008).
Analysis of Theories and their Practical Use in Knowledge Management
The implications of transforming knowledge into a competitive advantage must begin at a systemic, focused level of evaluating how data can be aggregated and classified into taxonomies to deliver greater value. Data-oriented taxonomy development and the definition of data elements across roles in any organization will require a shift in culture and values, if the full value of the information generated is going to be used (Rai, 2011). This shift in organizational structure and culture attributable to better data management to the taxonomy and role...
Use of single version of the truth and single information Balanced set of strategic metrics (Financial and non-financial). New methods of cost accounting (ABC, Target Costing). Internal vs. External Focus (Benchmarking and Self-Assessment). Process Management and Measures (value delivery). Stakeholder value measures Uniform set of measures Causal relationships between measures across all levels. Source: Lieberman; (1994; et.al.). Automotive Industry Analysis Entering 2007 it is clear that Japanese firms, lead by Toyota, will be at parity with and potentially surpass the
This practically also pays big dividends for manufacturers as they continue to strive to keep their Energy STAR Compliance ratings on products, leading to lower costs for power supply, electrical system integration and less product wear due to more efficient use of energy. Studies also indicate that Energy STAR compliance, when designed in as part of the DfE initiatives in a PLM system, can have an exceptionally high accumulative
Knowledge Management Titan Industries' Knowledge Management Titan Industries' Best Practices in Knowledge Management The ability of Titan Industries to attain best practices so rapidly in their Knowledge Management (KM) implementation illustrates how effective this strategic initiative can be in unifying business managers and Information Technology processors to a common objective. Global outsourcing leader Tata Information Systems is the subsidiary that owns Titan, so it is understandable how a very high priority was
Managing Knowledge/Knowledge management systems Taking Apple Inc. similar organization reference: 1.Review efficiency effectiveness Apple's / selected organization's knowledge management systems: • Identifying knowledge requirements Apple/selected organisation's managers leaders. Knowledge management systems Historically, the labor force would be represented from people paid low wages and expected to operate the machines and to implement the decisions as taken and instructed by the managers. Throughout the past recent decades nevertheless, the society has modernized and
Tarsam needs to make this a very high priority to gain the trust of their customers, and the credibility to win new prospects over to purchasing from then. There are three approaches the company can take to accomplish this. The first option is to create a self-managed Web content management system that Tarsam completely creates on their own. Defining a system administrator for it, the it aspects of the system
This approach has resulted in a successful just-in-time learner driven training program that uses scenario-based simulations to provide low cost training that workers can access when and where it is needed (Kelly & Nanjiani, 2005). This is an example of how Toyota has traditionally adhered to its fourteen principles (see Appendix a) and worked to maintain an organization in which knowledge management is paramount. Organizational Development Almost every organization professes to
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