Why Authors Are Emphasizing the Need of Doing Knowledge Management - Assignment Example

Student’s Name: Instructor’s Name: Course Code & Name: Date of Submission: Question one: Why authors are emphasizing the need of doing knowledge management Knowledge management is very important in an organization as it enables the enterprise to create, transfer and apply knowledge so that the organizational goals are achieved. Thus, organizational knowledge is created, captured and integrated into the organization system and is available to the users who need it. This consequently increases the efficiency of operations. Knowledge management facilitates the ability of the organization to reduce the tendency of making errors during the routine operations, hence enhancing optimal performance. This is because operations and processes are collective and automated. Similarly, mistakes done in previous are easily detected and autocorrected. Reduction in errors in effect leads to minimizing the cost of repeating procedures and leads to increased profitability of the firm. Knowledge management provides potential for the organization to expand and grow (Kudyba & Diwan, 2002). This is achieved through integrating new ideas and innovation to the organization, and increasing the possibility of the firm to make both physical and virtual collaborations to achieve missing competences. The productive capacity of the organization is increased and new products invented, and hence have a competitive edge in the market. Knowledge management enables a firm to improve its products and services (Kudyba & Diwan, 2002). New knowledge development increases the organization’s competence in innovatively converting new ideas into products and services much faster. In addition, products and services are knowledge based, thus matching the consumer tastes and preferences. Consumers complains and suggestions can also be effectively addressed, thus increased customer satisfaction and confidence in the products and services. Question two: The important business processes and outcomes According to the authors, business process are presented in a three-tier framework: a) Knowledge management Knowledge management is a process through which an organizations acquires new knowledge, processes it and integrates it into the business so that it can achieve its set objectives. It majorly focuses on the organizational goals such sustainability, growth, profitability and improved performance and identifying the tools that are required to execute the knowledge management process. It equips managers with the capability to create and organize information required to perform business roles and carry out projects efficiently and effectively in the firm. Knowledge management systems analyze the relationships among different stakeholders, systems, content and activities, and provide an integrated framework upon which reliable decisions are made (Dhir, 2004). Outcomes of knowledge management i) Knowledge processing strategies This is the approach that a firm can take to match its knowledge resources with its business strategy. It involves assessing whether the organization needs to create new knowledge in a certain area and how to go about it, and how better it can use the existing knowledge to achieve its objectives. Additionally, it enables the organization to address the issue of whether to source the knowledge internally or externally (Stanezyk, 1991). ii) Knowledge processing policies and rules Knowledge policies and rules guide organizations on how to create, manage and use knowledge to meet their responsibilities. This calls for adherence to formal and informal procedures for operations so as to avoid costly errors. iii) Knowledge processing infrastructures These are the resources required to develop and integrate thee knowledge management framework into the firm. They include information technology such as computer hardware and software iv) Learning programs These are programs designed in the organization to facilitate the continuous teaching of knowledge management systems to the users. It carried out by individuals or companies with expertise who teach organization’s managers and employees on knowledge management. v) Innovation programs These are programs developed to enable the organization develop and bring new ideas and processes into the business. The new ideas provide an opportunity for the organization to create new goods and services, contribute to growth and expansion as well as creating efficiencies. b) Knowledge processing Knowledge processing comprises two processes; knowledge production and knowledge integration (Kirk, 2009). Knowledge production is the process through which the organization creates new knowledge, while knowledge integration involves availing the new knowledge to the individuals who use it within the organization. The outcomes of knowledge processing i) Business strategies These are plans that the organization puts in place aimed at achieving its objectives. The organization uses the knowledge obtained from knowledge processing to set its strategies. It involves the analysis of the strengths, weaknesses, opportunities and threats (SWOT). ii) Organizational models These are structures that determine the standard operating procedures are set outline the individuals who perform various roles within the organization. They illustrate how tasks are directed towards realizing organizational goals. iii) Business processes These are the tasks and activities carried out in an organization towards achieving the set goals, by producing specific products and services. Well designed and knowledge based business process enhance effectiveness and efficiency. iv) Product strategies A product strategy is the plan that is used to market a particular product or service. It is based on the analysis of the target market, the product’s market share and the profit to be realized from the sale. For the product to succeed, a realistic product strategy needs to be developed before the product is launched in the market. v) Marketing strategies A marketing strategy is a strategy made by combining all the marketing objectives into one integrated marketing plan, based on market research and product mix to increase profitability and sustainability of the business. This is achieved through knowledge processing. vi) Human resource strategies These are strategies that determine the human resource requirements for an organization, both current and future. These strategies need to be aligned to the overall organizational goals to avoid conflicts and ensure efficiency of business operations. c) Business processing These are operational processes that use the organizational knowledge to perform routine activities of producing goods and services to achieve organizational goals (Spagnoletti, 2013). They do not create new knowledge nor integrate it. Outcomes of business processing i) Profitability This is achieving of financial gain from business operations. It is the main goal of any profit-making organization. ii) Market share This is the portion of the whole market that is controlled by a given organization. A large market share increases sales volume and profitability of the business firm. iii) Growth It is the increase in the productive capacity of an organization. It enables the firm to produces enough goods to meet the market demand, increase sales and profitability,and also achieve economies of scale. iv) Ethics These are the moral principles that guide the operation of an organization. Through ethics, the firm can distinguish between what is right and wrong based on the existing norms. This enables the firm to be accepted in the community in which it operates. v) Sustainability It comprises the efficient use of resources to achieve organizational goals without depletion taking environmental concerns and social responsibility into consideration (Spagnoletti, 2013). This enables the organization to be a going concern and enhances efficiencies. Organizations should use their knowledge resource to create competitive advantage for survival in the industry. Question three: Opinion on whether the authors’ study addresses the importance for doing knowledge management research The authors have addressed various importance of doing knowledge management research. The study has highlighted the usefulness of knowledge management to an organization. Knowledge management is a function that is done by any organization involved in creating new knowledge and integrating it to achieve the overall objectives. The benefit of knowledge management in reducing errors in operations has been outlined, that increases efficiency and effectiveness in production and service delivery, as well as minimizing costs (Spagnoletti, 2013). Knowledge management enables users of knowledge to detect previous mistakes and correct them, giving reliable explanations where necessary. The study has also shown how knowledge management has been colonized by other non-knowledge management activities and fields to benefit from it. One needs to evaluate a task so as to know whether it is a knowledge management task or something different. For example, knowledge management has been misunderstood as tool for delivering information technology needs, such as business performance measurement (BPM) and enterprise information portals (EIPs). The study also provides criteria that can be used to differentiate between knowledge management and other interventions. Such criteria include whether a certain intervention has impact on business processes or the knowledge management itself, importance of certain information and its sources in solving a particular problem and whether such an intervention has mechanisms to test and evaluate claims. The practicability of the Partners Healthcare case endorses the importance of doing knowledge management research. The benefits that are evident in this case portray the importance of doing knowledge management research. There is a great decrease in in medical errors attributed to detection and correction using knowledge management. New problems are also easily detected by the users of the knowledge management system, and new ideas are generated and integrated into the system. Additionally, costs are reduced and efficiency of service delivery is achieved. Effective knowledge management calls for transparency, and participation of all users in creation and integration into the organization (Kirk, 2009). However, the study is limited as it uses only one case to illustrate the usefulness of doing knowledge management. It should provide more examples of how organizations incorporate knowledge management into their overall strategies.Hence this calls for study and research on knowledge management. Reference: Kudyba, S., &Diwan, R. (2002). Information technology, corporate productivity, and the new economy. Westport, Conn.: Quorum Books. Kirk, A. (2009). Information technology. New York: Ferguson. Burns, A. (1984). New information technology. Chichester, West Sussex: E. Horwood. Kauffman, R., & Techatassanasoontorn, A. (2011). New theories and methods for technology adoption research. Information Technology And Management, 12(4), 289-291. doi:10.1007/s10799-011-0109-2 Stanezyk, S. (1991). New Technology. J Inf Technol, 6(2), 118-118. doi:10.1057/jit.1991.23 Burns, A. (1984). New information technology. Chichester, West Sussex: E. Horwood. Science and Technology Policy Institute, RAND. Braudo, R., &MacIntosh, J. (1999). Competitive industrial development in the age of information. London: Routledge. Spagnoletti, P. (2013). Organizational change and information systems. Berlin: Springer. Low, L. (2000). Economics of information technology and the media. Singapore: World Scientific. Dhir, A. (2004). The digital consumer technology handbook. Amsterdam: Newnes. Read More