Name: Course: Instructor: Date: Application and development of relevant business management knowledge Chapter 1: Introduction and Problem Development The new ways of conducting business through the various electronic media have revolutionized the management of business of the organizations…
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The top management of the organizations who were accustomed to the existing process and their know-how found it tough to assimilate the changes due to e-business and manage the effects of this new e-factor. Thus the only way to cope up with the changes brought about by the e-business processes were to know in detail about the business processes and the e-business driven changes as the important impacts of the new factor. An in-depth knowledge of the e-business and the wholesome changes brought about by the useful tools of e-business would help the senior managers to analyze the newly structured business processes and bring about necessary changes in approach and measures to cope up with the business processes and manage the changes. Thus the knowledge on the e-business tools and its functions, the potentials of the e-business processes, the benefits, costs and the impacts on the overall process is extremely essential in managing the changes in the business process. This leads us to the problem development stage and the problem has been developed as follows. “What is the importance of knowledge management in e-business driven changes in operating process of companies?” In order to address this problem, the various areas of business operations need to known in detail and the difference between the e-business driven changes and the earlier business processes need to be understood. This would help in identifying the changes that are brought about by the e-business processes in the overall organization culture and business. The understanding of the impacts of e-business on the organization and an analysis of these changes to design ways for managing these changes to the benefit of the organization could be done with the help of management of the knowledge on the changes business processes or the e-business. The scope of knowledge management in e-business lay in the areas of product development, supply chain management, customer relationship and the overall business processes. It is thus important to know the organizations that engage in the management of latest business knowledge for timely and efficient development of their products, to bring about necessary changes in the supply chain management to cater to the customers with the products and services through e-business in an efficient manner and to establish strong relationship bonds with the customers through efficient and timely delivery of customer service. It is also important to know about the ways in which the changes in the business management are affected with the help of knowledge on e-business (Malhotra 34). This includes a study of the various tasks that are assigned to the executives in order to cope up with the pace of the system that is driven by the e-platform and the latest technologies. The rationale behind performing these tasks and the application of knowledge management is clearly understood by the senior management and the employees to whom the work is delegated in order to reach the maximum level of performance. The process of management of business knowledge is commonly referred as knowledge management by companies aimed at developing the stock of knowledge on the various business processe
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Knowledge management involves a number of practices and strategies used by companies to identify, represent, create, distribute, and enable assimilation of experiences and insights. Such experiences and insights include knowledge, either embedded or embodied in organizations as practices or processes.
The Coca-Cola Company is selected because it has a knowledge management programme and has a long history of being successful, competitive and innovative. This case study will add to the literature by identifying and exploring how knowledge management is practices effectively and can help other companies learn who to manage business knowledge and how business management knowledge is manifested in the day to day workings of a company.
ata 33 Generation of suitable outcome 47 Project Evaluation & Conclusion 48 Reference 54 Introduction In today’s era of rapid globalization and increasing competition, the firms are constantly striving for capturing and expanding the market with their produce.
Relevant Theories of Management and Application Name Institutional Affilation Date Organisation or management theory is an instrument that provides decision makers with a thorough understanding on how to manage their present organization effectively. Organisation theories are shaped in the past and continue to be developed in the present to respond to the changing business environment effectively (Daft 2010).The most prominent organisational theories are scientific management, human relations, bureaucracy, and post bureaucracy theory.
Knowledge is the key capital in any organization today and this has been demonstrated by the design of IT systems that integrate knowledge management tools in their software and models. (Wilson, 2002)
In this regard, the study of an IT system integrator that uses knowledge management in a country like Pakistan will be relevant to the globalization trends as well as the study of an Asian and developing country.
The purpose for this may however differ from person to person and generation to generation. In the pre-historic era, the mankind had the thirst for knowledge in order to make their daily affairs convenient and satisfy their desire to do the work differently.
Knowledge Management definitely makes the sense out of healthcare. Since healthcare comprises 6% - 12% of the OECD (Organization for Economic Co-operation and Development) countries' GDP, and that since expectations on the development of specialized and more efficient healthcare strategies have always been increasing from the 1950s (Sharma, Wickramasinghe, Gupta, 2005), it cannot be foregone that efficient and effective acquisition and application of Knowledge Management systems in healthcare would boost the people's general wellness and standard of living, and hasten healthcare's economic and social benefits.
Knowledge and more importantly, business intelligence, helps firms to make the necessary adjustments to developing technology and the changes in the business environment (Barnes; Cody, Kreulen, Krishna, & Spangler).
The second issue primarily details about the lower investment decisions of the Ministry to improve the training programs that can enable employees to improve their functional capabilities. In order to critically
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