At present, large companies tend to have knowledge management strategies, because they can be integrated into information management strategies. IT and other technological companies have KM strategies, but so do many other firms. Creative firms such as advertising agencies, research firms such as pharmaceutical companies and firms whose business is based on acquired knowledge such as legal firms all place strong emphasis of knowledge management. In future, as more firms understand that knowledge is a crucial source of sustainable competitive advantage, all firms will see knowledge management as being important.
There are only limited amounts of education opportunities to acquire KM skills, although the subject does receive some coverage in business school now. KM programs are attractive because of the value of knowledge in today's business world and because of the increasing recognition that knowledge is one of few legitimate sources of sustainable competitive advantage. There will be more academic attention on the subject, which in turn will lead to more courses. The discipline will become more refined over time, which will help to expand the educational opportunities for KM and the number of different approaches to KM that are promoted in academia.
6. Wasserstein's ideas are promising, particularly in terms of his views on knowledge management. He views knowledge as being the ability to combine information in ways that create value. From a knowledge management perspective, his idea that the bankers do not know more than the CEOs is a good one. Knowledge management often focuses on making use of information that has been acquired, yet Wasserstein's philosophy offers that knowledge management also includes setting strategies for the acquisition of knowledge. The company's agents probe CEOs in order to gather the information that they need. The agent acts as the driver of knowledge acquisition, but does not supply that knowledge himself or herself. Instead, the company guides the process of knowledge acquisition and then applies the new knowledge to find the best deals for the clients.
Wasserstein's view is in some ways a chicken-and-egg argument. In order to ask the right questions, the agent must have a fairly strong knowledge level initially. Thus, it takes knowledge to gain knowledge....
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
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
In their analysis they used the Cynefin framework for sense-making. This started with disputing the universality of three basic assumptions that control practices and to a lesser extent theories of decision-making and policy formulation in organizations. (The new dynamics of strategy: Sense-making in a complex and complicated world) The earlier theories have certain basic assumptions. The first among these are the assumption of order. This assumes that there are underlying
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
Knowledge Management Systems Defining Three Components of Knowledge Management Systems The many disruptive innovations that are continually changing the nature of enterprise software are having a significant impact on each component of knowledge management systems. The intent of this analysis is to evaluate the three components of knowledge management systems including communication, collaboration and storage/retrieval. The rapid evolution of these systems between the late 1990s and today further illustrates just how disruptive
Knowledge Management (KM) A new knowledge-based economy of learning individuals, organizations and economies has evolved from the machine-based economy which dominated the developed world throughout the twentieth century. The emergence of a new type of firm is signaled by the familiar symptoms of corporate change such as devolution of managerial responsibilities, more flexibility and skill in the workforce, more recourse to outsourcing, and increased networking both inside and outside the firm
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