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Knowledge Management
One of the challenges of knowledge management is deciding on a working definition of what the discipline covers. Levinson defines knowledge management (KM) as the process by which organizations generate value from their intellectual and knowledge-based assets. Her definition goes on to say that generating value from such assets typically involves codifying what employees, partners and customers know, and sharing that information among employees, departments, and even with other companies in an effort to develop best practices (Levinson, 2010).
Whether the goal of implementing a KM system is to minimize loss and risk, to improve organizational efficiency, or to embrace innovation, knowledge management efforts and initiatives add significant value to an organization. Some of the benefits of KM include the following:
Facilitating better, more informed decisions
Growing the organization's intellectual capital
Encouraging the free flow of ideas, leading to insight and innovation
Eliminating redundant processes, streamlining operations, and enhancing employee retention rates
Improving customer service and efficiency
Increasing...
Tens of millions of baby boomers turned 60 in 2005, and that those who aren't already retired must certainly be planning to do so soon. With their departure, the knowledge they gleaned about their jobs, companies, and industries over the course of their long careers leaves with them, unless companies take measures to retain their insights. Along with imminent mass retirement, the outsourcing trend also requires companies to address the issue of transferring knowledge from their employees (Levinson, 2010).
Choi and Lee discuss additional justification for implementing knowledge management strategies. They argue that knowledge has come to be considered a valuable strategic asset that can provide proprietary competitive advantages. Without constant creation of knowledge, a business is condemned to poor performance. They argue that managing knowledge is important because "knowledge is one of the most strategic weapons that can lead to sustained increase in profits." (p.…
Reference List
Choi, B. & H. Lee. (2002). Knowledge management strategy and its link to knowledge creation process. Expert Systems with Applications, 23(3), 173-187. DOI: 10.1016/S0957-4174(02)00038-6
Levinson, M. (2010). Knowledge management definition and solutions. CIO Web site. Retrieved June 12, 2011 from http://www.cio.com/article/40343/Knowledge_Management_Definition_and_Solutions?page=1
Kanagasabapathy, K.A., Radhakrishnan, R. & Balasubramanian, S. (n.d.). Empirical investigation of critical success factors and knowledge management structure for successful implementation of knowledge management system. Retrieved June 12, 2011 from http://hosteddocs.ittoolbox.com/KKRR41106.pdf
Knowledge management -- why important? (2011). Knowledge Management Research Library. Retrieved June 12, 2011 from http://www.about-goal-setting.com/KM-Library/knowledge-management-why-important.html
The entire business model from Dell is entirely dependent on knowledge management and its effective use as part of their build-to-order strategy (Gunasekaran, Ngai, 2009). Part 2: The Senior Manager, Enterprise Systems at Cincom Systems interviewed for this second part of the paper. His name is Louis Columbus. This manager uses a wide variety of tacit and implicit knowledge management techniques and tools to capture the specific configurations of customer
Competencies of Project ManagersIntroductionAt any given time, the project manager is responsible for ensuring that communication is clear and concise, and that all team members are kept up-to-date on the project\\\'s progress. Unfortunately, communication failures are all too common, and can often lead to frustration, confusion, and even outright conflict. In order to avoid these pitfalls, project managers must be vigilant in their efforts to keep the lines of communication
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
Knowledge Management Challenges and Solutions to Organizational Knowledge Management in KBMS The evolution of Knowledge-Based Management System (KBMS) from being limited to only a selected number of taxonomies or approaches to supporting a greater number and versatility of roles continues to expand the versatility of these systems (Faucher, Everett, Lawson, 2008). The transition of defining data elements as part of a SQL-based data structure to being integral to knowledge-based and role-based knowledge
Value of the Site -- What It Does and Doesn't Provide The site fulfills its primary objective well, serving as a hub of information and links on knowledge management. It also is very well designed in terms of navigation and the ability to move quickly across the many subject areas as well. The use of subsidiary pages for global subject areas of interest also ensures the site delivers useful search results