Knowledge management system development at Custom Gene Company

SWOT Strategy for Knowledge Management at Custom Gene Company

The topic is the development of a Knowledge Management Organization after a general Strength, Weaknesses, Opportunities, and Threats (SWOT) uncovered hidden value within the company using Medical Multimedia Case Notes.

The Mission of how the Custom Gene Company is transformed into a Knowledge Management organization.

Summary of the Case

The development of a Knowledge Management system was started at the forerunner to the Custom Gene Company at Medical Multimedia by a consultant. The consultant was hired to design an asset management system. She used a SWOT analysis to uncover hidden opportunities within the organization for a competitive edge (Haggie & Kinston, 2003). However when the project was completed it was discovered that there were other proprietary systems or applications that could benefit from the asset management system presenting strengths within the organization (Bellinger, 2004). At that point an additional project was started to develop a Knowledge Management system at Medical Multimedia. In a bid with a competitor Medical Multimedia excelled and was able to acquire new business. However the employee culture within Medical Multimedia is not as cooperative to the interviewing techniques required to build and maintain the Knowledge Management system (Weakness). In fact many of the workers are antagonistic at the process by which information about individual job functions and responsibilities are obtained. The resistance to enhancements to the Knowledge Management system, prompts leadership to devise incentives to gain employee cooperation.

The Human Resource department, consultant, and CEO of the company work together to create Employee Career Development program that is designed to reward collaborative efforts of individuals. Those that cooperated and pooled resources toward making the Knowledge Management project a success experienced rewards for performance. Some of the areas of employee recognition include stock options benefit package, and compensation. With these changes the Knowledge Management project is resumed successfully. Medical Multimedia is very productive and generates top revenues in the industry which attracts buyers (Opportunity). Medical Multimedia is sold to Custom Gene Factory. One of the key selling points was the very effective Knowledge Management system designed to track the intangible intelligence accessible through employee expertise (Bellinger, 2004). In fact the opportunities for business expansion recognized by the Custom Gene Factory CEO drew double the original price on the books of Medical Multimedia. The new CEO was so impressed that he hired a CKO to take over management of KM operations. This led to the consultant resigning their position. However due to familiarity with the system they were hired in as a senior consultant (Strength).

The new CKO quickly took advantage of employee collaborative efforts immediately produced new products and services for Custom Gene Factory. One of new innovations thanks to the Knowledge Management system input was a Whiteboard System. Used throughout the company integrating various types of information for storage and distribution to the relevant departments sources. There are new business opportunities that are being pursued in the Research and Development sector of Custom Gene Factory as a result of expansion of the highly successful KM system.

Statement of the Problem

a. The main problem is how to become competitive and elevate Medical Multimedia's position over its competitors in the industry (Threats). The problem is competitors such as Healthcare Productions were beginning to dominate or at least compete for the same market (Threats). The ramifications could present a dilemma and loss of market share for Medical Multimedia if it fails to strengthen its market position by defining a competitive advantage (Threats).

Learning Application

a. It is important to be aware of an organization's strengths, weaknesses, opportunities and threats (SWOT). Using a SWOT analysis it is easier to uncover hidden value within the organization. In this case a consultant simply asked a few questions about the workplans of employees and uncovered an entirely new business opportunity for the company. One that was so lucrative and valuable that it put the company ahead of the competition. It also doubled the value of the company in the marketplace.

b. The decision to hire the consultant was very insightful and led to uncovering an advantage that required no outlay of capital or investment from outside the company. The savings from that facet alone doubled the value of the company.

The application of a SWOT analysis allows assessing the existing resources within the company, which led to huge returns on investment. This was hidden value that led to a huge ROI plus business expansion that the organization did not know existed.