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Application and development of relevant business management knowledge - Essay Example

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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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Application and development of relevant business management knowledge
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Application and development of relevant business management knowledge

Download file to see previous pages... 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 ...Download file to see next pagesRead More
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