SWOT Strategy for Knowledge Management at Custom

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). Proposing a Solution a. The solution required a consultant to investigate possible strengths and opportunities already within the organization that had not been realized. Through interviewing many of the employees in the organization and documenting their job functions and work processes. This led to the development of a Knowledge database of information that could be shared throughout the organization (Opportunity).

The information sharing reduced lead time to develop and make decisions. The plan was to uncover any market strengths that were unknown or underutilized within the company that could become a competitive advantage over the competition. The project proved successful the Knowledge Management system doubled the value of the company (Opportunity). This caused the value of Medical Multimedia to draw a buyer, Custom Gene Factory and move ahead of the competition.

Under new leadership the Knowledge Management CKO implemented a new direction to pursue even more opportunities for expansion through Research and Development. Learning Application a. It is important to be aware of an organization's strengths, weaknesses, opportunities and threats.