Information Management Control - Report Example

Knowledge Management: Success stories Affiliation Table of Contents Table of Contents 2 Introduction 4 Knowledge Management 4 Knowledge management success stories 6 Knowledge Management at KPMG 6 Knowledge management success factors 6 Knowledge Management at UNDP 7 Knowledge management success factors 8 Conclusion 9 References 9 Introduction This research presents the detailed analysis of the two real world knowledge management success stories. This report will present a comprehensive overview of the knowledge management systems implementation and its effectiveness that contributes to success of business. In this research I will spotlight on the critical evaluation of the main areas those are comprehensively influenced by the knowledge management system implementation. Knowledge Management Data are collection of unrefined facts representing events taking place in organizations or the physical setting prior to they have been formed and managed into a structure that people can recognize and utilize. On the other hand, information refers to data that have been transformed into a structure that is important and serviceable or useable to human beings (Norton, 2001, p. 4) and (Laudon & Laudon, 1999, p. 7). In the field of information technology knowledge refers to an organization or an individual, the possession of information or the capability to rapidly locate it (TechTarget, 1999). Developing distinctive and attractive products or services or developing them at lower a price than competitors is depend on greater knowledge of the development method and excellent design. Knowing how to perform tasks successfully and competently in ways that corporations theorists consider that these knowledge assets are as significant, if not more significant, than physical and financial assets in making certain the competitiveness and continued existence of the firm (Laudon & Laudon, 1999, p. 435). The knowledge and practice of a qualified worker is a significant asset to any organization. Knowledge workers, for instance engineers, accountants, and other experts, consist of individuals whose roles focus on the collection, performing operations o information, and application of information (Shelly, Cashman, & Vermaat, 2005). The way of analytically and actively organizing and maintaining the stores of knowledge in a firm is called knowledge management (Laudon & Laudon, 1999, p. 435).Another definition, “Knowledge management (KM) is the method by which an organization gathers, archives, indexes, and retrieves its knowledge, or resources” (Shelly, Cashman, & Vermaat, 2005, p. 730). The knowledge worker carries out the tasks to build or utilize the knowledge. Organizations put into practice knowledge management software (KMS) to support or facilitate in the job of knowledge management. Knowledge management software confines the knowledge of knowledge workers, so their knowledge remains useful even after they leave the organization (Shelly, Cashman, & Vermaat, 2005, p. 730). Malhotra (1998), has proposed the definition of Knowledge Management. He states that Knowledge Management provides to the vital matters of organizational adaption, competence and survival in face of progressively more irregular environmental transform. Fundamentally, it represents organizational procedures that search for synergistic arrangement of information and data processing capability of IT, and the innovative and inventive aptitude of human beings (Malhotra, 1998). Knowledge Management is a combination of procedures, policies and technologies utilized for operating a continually updated connected pair of networked databases. Knowledge Management offers help regarding the carrying implicit knowledge to the surface, combining it in shapes through which it is further extensively accessible, as well as promoting its continuing and durable creation (Skyrme, 1998). Skyrme (2009) has defined kknowledge management as a procedure of confining a corporation joint capabilities wherever it resides-in in peoples, databases, or on paper head-and issuing it to wherever it would be able to assist produce the major payoff. Knowledge management is getting the accurate knowledge from the exact person at the precise time (Skyrme, 1998). Knowledge management success stories This section will present a detailed overview of the two most prominent success stories regarding the Knowledge Management implementation. Knowledge Management at KPMG The research of Joël Van Hoolandt has outlined the main organizational success story of the KPMG business. KPMG business has established strong roots in the global marketplace through its worldwide presence. The business of the KPMG carries on building on Member Corporation’s achievement thanks to clear rigorously maintained values, vision and its people (Hoolandt, 2009). KPMG business unites multi-disciplinary technique by means of deep, practical industry knowledge to aid clients convene challenges as well as respond to prospects. Accountancy carries modified advice as well as operational support to the administration of medium and small sized organizations (Hoolandt, 2009). Knowledge management success factors This section will present the main knowledge management systems and methods that contribute to their KPMG success. The knowledge management system for the KPMG business has offered value for the benefits of KPMG people, clients, and the capital marketplaces. These KPMG has offered knowledge management based great advantages to the associate corporation objectives offer clients by means of a globally reliable set of multidisciplinary accounting and financial services, foundational on deep business knowledge. Hoolandt (2009), has desciibed the main initisatives of the KPMG bussiness regarding the establishment of special department of the knowledge management. This established division greatly helps in transforming knowledge into worth for clients. This division is also able to convince the higher clients’ expectations. These new initiatives of KPMG offer knowledge of local marketplace. This overall structure offers a great help regarding the promoting innovation within the firm, building communities of practices, better risk identification. The following areas have significant improvement (Hoolandt, 2009). Tax  Accountancy  Advisory Industries  Audit  Knowledge Management at UNDP UNDP is the United Nation’s worldwide development network, supporting for transformations and linking nations to experience, knowledge and resources to aid people to develop a better life (Superfactory, 2004). The UNDP’s capacity greatly enhanced after the implementation of the knowledge management structures. In this way the UNDP main organization drawing drastic improvement on regional, local and global capability as well as encouraging the exchange of additional nuanced information. The UNDP’s new structure of knowledge management offered enhancements in the relevance, delivery and effectiveness advisory services (Superfactory, 2004). Knowledge management success factors The UNDP’s new structure of knowledge management has permitted the development a common understanding or perspective of thematic issues and language. At the individual level the UNDP’s new structure of knowledge management offered help to staff in carrying out their jobs in a better way, builds relationships with peers, keep pace with the transforming world. UNDP has established the first Knowledge networks. UNDP also launched LM initiative for the enhanced management of global data and information in a better way (Superfactory, 2004). The Knowledge management is basic to the vision placed out in the business strategies (Superfactory, 2004).  The following areas of the UNDP are potentially enhanced through the knowledge management system implementation (Superfactory, 2004): Management  Policy Development  Partnership building and resource mobilization  Agenda setting  Communications  Advocacy  Knowledge management  Community building  Professional development  Conclusion In this research I have presented a detailed overview of the two real world knowledge management success stories. This research has outlined the main success factors behind these corporations. This study has spotlighted the knowledge management areas and their enhanced contribution to the potential enhancement in the business structure of the organization. In this study I found the main similarity among both corporations that is the potential enhancement in the overall business and operational structure. Both organizations have established a better management structure and obtained the greatest advantage of the business information appropriate utilization. This enhanced utilization of business and organizational knowledge has offered greater advantages regarding the centralizing the overall business structure. References Hoolandt, J. V. (2009). Knowledge Management at KPMG. Retrieved 10 08, 2009, from http://74.125.153.132/search?q=cache:DE3RTgOCmyQJ:www.uclouvain.be/cps/ucl/doc/cental/documents/presentation_20_02_09.ppt+knowledge+management+success+storY+filetype:ppt&cd=3&hl=en&ct=clnk&gl=pk&client=firefox-a Laudon, K. C., & Laudon, J. P. (1999). Management Information Systems, Sixth Edition. New Jersey: Prentice Hall . Malhotra, Y. (1998). Knowledge Management for the New World of Business. Retrieved 10 08, 2009, from Brint.com: http://www.brint.com/km/whatis.htm Norton, P. (2001). Introduction to Computers, Fourth Edition. Singapore: McGraw-Hill. Shelly, Cashman, & Vermaat. (2005). Discovering Computers 2005. Boston: Thomson Course Technology. Skyrme, D. J. (1998, October). Knowledge Management, The State of Practice. Retrieved 10 07, 2009, from Skyrme.com: http://74.125.153.132/search?q=cache:ChlCGvQ7jGsJ:www.skyrme.com/ppt/kmintro/kmintro.ppt+knowledge+management+filetype:ppt&cd=1&hl=en&ct=clnk&gl=pk&client=firefox-a Superfactory. (2004). UNDP Core Message . Retrieved 10 08, 2009, from http://74.125.153.132/search?q=cache:aowjfAqmo2QJ:www.kunnskapsnettverk.no/C14/C10/CoP/Document%20Library/KM%20presentation%20UNDP.ppt+knowledge+management+success+storY+filetype:ppt&cd=6&hl=en&ct=clnk&gl=pk&client=firefox-a TechTarget. (1999). What is Knowledge? Retrieved October 07, 2009, from TechTarget.com: http://searchcio.techtarget.com/sDefinition/0,,sid182_gci212448,00.html Read More