The Process of Management of Business Knowledge - Essay Example

The top management of the organizations 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 with the changes brought about by the e-business processes was to know in detail about the business processes and the e-business driven changes as the important impacts of the new factor. In-depth knowledge of e-business and the wholesome changes brought about by the useful tools of e-business would help the senior managers analyze the newly structured business processes and bring about necessary changes in approach and measures to cope with the business processes and manage the changes.

Thus, knowledge of the e-business tools and their functions, the potentials of the e-business processes, the benefits, costs, and the impacts on the overall process is 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 the operating process of companies?” To address this problem, the various areas of business operations need to know in detail, and the difference between the e-business driven changes and the earlier business processes need to be understood.

This would help identify the changes brought about by the e-business processes in the overall organizational culture and business. Understanding the impacts of e-business on the organization and 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 in business processes or the e-business. The scope of knowledge management in e-business lies in 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 the 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 how the changes in business management are affected with the help of knowledge on e-business (Malhotra 34).

This includes a study of the various tasks assigned to the executives to cope with the pace of the system driven by the e-platform and the latest technologies. The rationale behind performing these tasks and applying knowledge management is clearly understood by the senior management and the employees to whom the work is delegated to reach the maximum level of performance. The management of business knowledge is commonly referred to as knowledge management by companies to develop knowledge on the various business processes. This includes up-gradation of the knowledge on the existing business processes as a process of refining the knowledge stock and at the same time acquiring new knowledge is required to keep up with the latest technological advancements and the industry trend.