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Knowledge Management - managing knowledge - Essay Example

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The modern day management is faced by many challenges and those in the helm of company's management are faced with many dilemmas when it comes to designing and implementing company strategy. Many managerial consultant firms are also faced with the same dilemma since their consultancy seems incomplete, inconsistent and contradictory to the outcomes…
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Knowledge Management - managing knowledge
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Extract of sample "Knowledge Management - managing knowledge"

Download file to see previous pages According to Dimitris Karagiannis (2005), knowledge is a combination of many factors which together makes up strategies that helps in making decisions. It includes aspects of understanding of the organization and its people and the experience with the organization or others in the same line. It includes organized information from documents and other artefacts in the organization or outside. It is a difficult task to organize knowledge and get the best value from it. There must be highly organized initiative in the aspects of organization itself, its people and the enabling environment.
According to Sanchez Ron (2001), knowledge management is a technology by itself which helps in assessing the actual and potential contribution to the process of creating and sharing of new ideas and decisions in an organization. It is good to understand that knowledge management is more of a process than a product. It represents a process in which ideas and facts are gathered, carefully analyzed and considered before arriving at any strategy. It forms the bases for effective planning and understanding of a strategy. It provides a way in which unstructured data is processed to become a more useful data that can form basis of strategizing for the benefit of the organization. The process consists of some components that are important and cannot be ignored. It requires consulted effort or collaboration from all quarters of the organization. It is important for all to contribute to the process in order to have diverse knowledge about a subject matter. In requires the aspect of content management and taxonomy management. Hence any effective organizational management must put into practice the knowledge management process in order to have effective strategies that work for the organization.
According to Chun Choo and Nick Bontis, (2007), there are two broadly recognized approaches or technologies to management that are currently practiced in many companies and which are being advocated by many consultant firms. Sound management strategies require an extremely creating synthesis of the two approaches as each helps to offset the limitations of the other. The two approaches that are being advocated in company strategy are tacit and explicit forms of knowledge are being used in organizational management. The two approaches are merely forms of organized knowledge that can be applied in management. They are knowledge approaches which are fundamental in making decision. In the process of codification or articulation, tacit knowledge can be transformed to explicit knowledge.


Tacit knowledge approach in strategies
As the name suggest, this is the knowledge that cannot be easily shared with other people. It is the knowledge that is possessed inside and which is difficult to communicate to the organization unless through an enhanced process of knowledge management. This is the kind of knowledge that people carry in their minds. It is a form of knowledge that is difficult to access unless one is willing to contribute it to the organizatio ...Download file to see next pagesRead More
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