...asset is knowledge, the intellectual capital of the organization. The high potential return of leveraging the knowledge capital of an organization has led to company valuations that far exceed what used to be accepted as standard. This new capital is walking around your company, is hidden in file drawers, and surfaces in conversations with clients and suppliers. There’re three kinds of knowledge capital in every organization, namely human, structural, and relationship. Sveiby (2001) believes that people can use their competence to create value in two directions: by transferring and converting knowledge externally or internally to the organization they belong to. When the managers of a firm direct the efforts of their employees internally, they create tangible goods and intangible structures such as better processes and new designs for products. When they direct their attention outwards, in addition to delivery of goods and money they also create intangible structures, such as customer relationships, brand awareness, reputation and new experiences for the customers. (Papoutsakis, 2006) 2.0 LITERATURE REVIEW This study expose to the impacts of knowledge management to an organization, on how it benefits and result to a positive revenue to the organization in term of (Return On Investment) ROI as well as the challenges on implementing knowledge management in an organization. 3.0 THE KNOWLEDGE CYCLE Source from: http://www.tfhrc.gov/pubrds/novdec99/knowledge management...
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...(3)Knowledge Management(KM)is a fashionable business term. Explain what is meant by knowledge and knowledge management(KM), and evaluate why KM is central to the success of an organization. Knowledge Management (KM) is a newly developed business term. Thanks to the booming of information technology (especially the internet) from the 1990s, people could get information and knowledge much easier than before. As the integration of individuals, organizations need to process and manage even more information and knowledge. Therefore, the art of knowledge management becomes very crucial for modern organizations. Before talking about the term Knowledge Management, first we need to know clearly what knowledge is. The definition for knowledge is a traditional debate topic among the philosophers. The most well known definition is as Plato suggested; knowledge is a statement which must be justified, true and believed. However, as modern people, we need to define it in a modern way, just as Oxford English Dictionary describes knowledge as (i) expertise, and skills acquired by a person through experience or education; the theoretical or practical understanding of a subject, (ii) what is known in a particular field or in total; facts and information or (iii) awareness or familiarity gained by experience of a fact or situation. Personally, I think the most refined and inclusive way to describe knowledge is; the kind of information that describes the relationship between other information...
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...Applying Corporate Knowledge Management Practices in Higher Education by Jillinda J. Kidwell, Karen M. Vander Linde, and Sandra L. Johnson We believe there is tremendous value to higher education institutions that develop initiatives to share knowledge to achieve business objectives. This article outlines the basic concepts of knowledge management as it is applied in the corporate sector, considers trends, and explores how it might be applied in higher education and whether higher education is ready to embrace it. Colleges and universities have significant opportunities to apply knowledge management practices to support every part of their mission A re the concepts of knowledge management (KM) applicable to colleges and universities? Some would argue that sharing knowledge is their raison d’être. If that is the case, then the higher education sector should be replete with examples of institutions that leverage knowledge to spur innovation, improve customer service, or achieve operational excellence. However, although some examples exist, they are the exception rather than the rule. Knowledge management is a new field, and experiments are just beginning in higher education. E D U C A U S E Q U A R T E R LY • Number 4 2000 Knowledge Basics Knowledge management is the process of transforming information and intellec- tual assets into enduring value. It connects people with the knowledge that they need to take action, when they need it. In the corporate sector...
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...your CEO? Most of us need to use some form of knowledge to get our jobs done better and quicker.Knowledge can be said is a fluid mix of framed experience, values, contextual information, expert insight, and grounded intuition that provides an environment and framework for evaluating and incorporating new experiences and information. It originates and is applied in the mind of the knowers. In organizations it often becomes embedded not only in documents or repositories, but also in organizational routines, practices and norms. But how does an organization handle all of this knowledge? This is where knowledge management (KM)comes in. Knowledge management is the systematic management of an organization's knowledge assets for the purpose of creating value and meeting tactical and strategic requirements. It consists of the initiatives, processes, strategies, and systems that sustain and enhance the storage, assessment, sharing, refinement, and creation of knowledge.In order for KM to succeed, one needs a deep understanding of what constitutes knowledge and look at the forms in which knowledge exists and the different ways that it can be accessed, shared, and combined.There are essentially two different types of knowledge, explicit and tacit.Explicit knowledge includes things that you can easily pass on to someone else by teaching it or putting it into a database or a book.Tacit knowledge is less quantifiable because this is knowledge that's most often learned by experience. It's...
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...Tools to Enhance Innovation” Khalid Helal, khldhelal@gmail.com Master of Management, IIUM Introduction Knowledge Management (KM) is a recently emerging approach pointed at addressing today’s business challenges to increase organizational efficiency, efficacy and new innovation by applying several tools, techniques and strategies in business process. The purpose of this paper is to develop the organizational knowledge, knowledge sharing and enhancing innovation to increase the organizational and managerial efficiency. Those activities enhance and develop by the using of knowledge management tools and techniques. Further, knowledge management plays an important supporting function by providing a coordinating mechanism to enhance the changes of resources into capabilities. The knowledge management tools can influence to enhance innovation which is the significance for a firm’s performance. Literature Review A. Explicit and Tacit Knowledge (Nonaka, 2000) Has explained explicit knowledge is proper methodical or organized language shared in the form of facts, like as scientific method, specification and manual. It can be treated, memorized and systematic language”. transmitted easily. On the other side, tacit knowledge is really private and hard to formalize. Subject related intelligence fall into the several class or category of knowledge. (Wachter, 1999) Has explained “Tacit knowledge is personal and context specific, which is often developed over a long period...
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...Knowledge Management and Organisational Learning Contents Title Page 1 1 Introduction 3 2 Body 3 2.1 What was the outcome of the team activity? Did you achieve your team objective? How? 3 2.2 What knowledge did you use? What worked and what did not work? 4 3 Conclusion / Recommendations 5 3.1 What did you learn? What would you do differently? 5 4 References 7 Introduction This report discusses some of the reasons for the implementation of knowledge management. It discusses the differences between data, information, and knowledge. The opinion that communication appears to play a key role in the outcome will be discussed and how it relates to effective collaboration. Furthermore, this paper discusses what knowledge management is and the reasons why knowledge management must be realised in todays’ society expanding on the methods used during the Knowledge Management and Organisational Learning module team activity; namely The Prisoner Escape activity. The prisoner escape participation activities used during the exercise will be discussed with the focus on how knowledge was shared to reach a collaborative objective. The paper concludes with the observation that knowledge sharing is the only concept that promotes progress in society. Body What was the outcome of the team activity? Did you achieve your team objective? How? The teams’ objective was to not get caught by the police and we successfully achieved that. As a team we captured, developed...
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...Introduction; `While the term is usually used in reference to professional money managers, everyone practices some form of investment management with their personal finances. There are a wide range of money management services, from the operation of passively-managed mutual funds with low fees to in-depth estate planning and consulting’- (Investopedia) `Facts, information, and skills acquired through experience or education; the theoretical or practical understanding of a subject: a thirst for knowledge her considerable knowledge of antiques about the sum of what is known: the transmission of knowledge’)-Oxford dictionary. Information, in its mainly restricted technological sense, is a sequence of symbols that preserve to be interpreted as a message. In order can be traced as signs, or broadcast as signals. Information is several kind of event that affects the state of a dynamic system. Theoretically, information is the message (word or expression) organism conveyed. The importance of this idea varies in different context. 1.1: Understand the need to manage information and knowledge within organizations: 1.1.1 The main features of information management: A management information system (MIS), or information management system, is particularly critical to businesses that work in conjunction with other businesses. An MIS has four key features. Data Gathering: MIS help to store data perfectly. The MIS stores the in order to one of two database systems. The first type of...
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...Knowledge Management This case describes the many knowledge management practices that take place at Toyota Motors, which is of course the world's most money making company. Also, it describes how Toyota enables wide knowledge sharing not just within the organization but also across its supply chain. It details the practices that make Toyota a true learning organization. It discovers the role of traditional structural practices in the company's knowledge management efforts. In 2004, Toyota Motor Corporation was Japan's largest company and the world's second largest automobile company with worldwide unit sales of 6.7 million (Liker, 2003). It was acknowledged as one of the world's best knowledge enterprises, and was a three-time winner of the Global Most Admired Knowledge Enterprises (MAKE) Survey 4, and a five-time winner of the MAKE Japan Survey (www.icmrindia.org). This award identifies the best practices in the area of knowledge management. The survey studied enterprises on criteria like knowledge-based culture and products, knowledge sharing and teamwork, as well as structured learning. Many experts believed that effective knowledge management had given Toyota a strong competitive edge. Toyota's Production System manufactured a variety of high-quality vehicles at very low cost. Toyota had been extremely open about its production system. Company sources were quoted to have said, "Study us all you want"(Stalk & Lachenaur, 2004). Even with studying, no other company was...
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...KNOWLEDGE MANAGEMENT Any enterprise can potentially grow profitably through its management of knowledge for intellectual capital. For this purpose, it however, needs to craft an innovative and viable design of its business system. A business system design (BSD) comprises a dynamic architecture which is isomorphic across firms in space and time. A dense dynamic nexus of social capital, human capital and knowledge management - the knowledge management nexus (KMN) - forms the core of BSD. KMN continually rationalises and revitalises the BSD. An inclusive concept of knowledge spectrum as the quintessential resource for value creation is elaborated briefly in terms of its dynamic configuration. A firm's intellectual capital (IC) is seen as the resultant of its KMN. IC represents a firm's meta-capability toward overcoming challenges and exploiting opportunities in its continual pursuit of value creation. Various methods, frameworks of KM discussed in class were : THE SKANDIA NAVIGATOR 1. Financial focus of the Skandia Navigator captures the financial outcome of our activities. It is here where we establish the long term goals and also a large part of the overall conditions for the other perspectives. This could be profitability and growth that shareholders demand. 2. Customer focus gives an indication on how well the organization meets the needs of its customers via services and products. 3. Process focus of the Skandia Navigator captures the actual processes of creating the services...
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...Introduction to Knowledge Management A light bulb in the socket is worth two in the pocket. —Bill Wolf (1950–2001) This chapter provides an introduction to the study of knowledge management (KM). A brief history of knowledge management concepts is outlined, noting that much of KM existed before the actual term came into popular use. The lack of consensus over what constitutes a good definition of KM is addressed and the concept analysis technique is described as a means of clarifying the conceptual confusion that still persists over what KM is or is not. The multidisciplinary roots of KM are enumerated together with their contributions to the discipline. The two major forms of knowledge, tacit and explicit, are compared and contrasted. The importance of KM today for individuals, for communities of practice, and for organizations are described together with the emerging KM roles and responsibilities needed to ensure successful KM implementations. Learning Objectives 1. Use a framework and a clear language for knowledge management concepts. 2. Define key knowledge management concepts such as intellectual capital, organizational learning and memory, knowledge taxonomy, and communities of practice using concept analysis. 3. Provide an overview of the history of knowledge management and identify key milestones. 4. Describe the key roles and responsibilities required for knowledge management applications. 2 Chapter 1 Introduction The ability to manage knowledge is crucial in today’s...
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...Knowledge Management Nicholas Miller Table of Contents Abstract 3 What is Knowledge Management? 4 Features of Knowledge Management 5 People 5 Processes 5 Technology 5 Knowledge Management Applications 7 Tacit Knowledge 7 Explicit Knowledge 7 Embedded Knowledge 7 Tacit vs. Explicit Knowledge 9 The Importance of Knowledge Management 10 Summary 11 Conclusion 12 References 13 Abstract The principal objective of this research paper is to define Knowledge Management (KM). The research findings in this paper will uncover the features and applications that have derived from the Knowledge Management process. It will also examine Tacit vs. Explicit Knowledge and the importance they have in the Knowledge Management process. This research paper is presented in the form of a report hence comprehensive analysis and conclusion will be drawn from the findings of the research as it relates to the topic “Knowledge Management”. What is Knowledge Management? “Knowledge is power”, as quoted by the English philosopher Francis Bacon (1561-1626) (Henry, 2002). With the requisite knowledge, an individual or organization can achieve any goal or objective. Now we ask ourselves, “What is Knowledge Management”? To arrive at a possible response to such a question it is imperative to underline the key terms Knowledge and Management. (Cavell, 2002) claimed that Knowledge is the understanding of information and skills acquired through experience or education, which exists mostly in...
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...information leading to transfer of knowledge from a person or an organization to others. Whereas this invariably leads to faster development, it also impacts the competitive advantage held by the innovators of processes or technology. It has therefore become strategically important for one and all in business to understand the knowledge, processes and controls to effectively manage the system of sharing and transferring the information in the most beneficial fashion. This paper dwells upon definition, types, scope, technology and modeling of knowledge and Knowledge Management while examining its strategic importance for retaining the competitive advantage by the organizations. What is knowledge? Plato first defined the concept of knowledge as justified true belief'' in his Meno, Phaedo and Theaetetus. Although not very accurate in terms of logic, this definition has been predominant in Western philosophy (Nonaka and Takeuchi, 1995). Davenport et al. (1998) define knowledge as ``information combined with experience, context, interpretation and reflection''. The terms knowledge'' and information'' are often used inter-changeably in the literature and praxis but a distinction is helpful. The chain of knowledge flow is data-information-knowledge. Information is data to which meaning has been added by being categorized, classified, corrected, and condensed. Information and experience, key components of definitions of knowledge, are put into categories through the...
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...CW3 David Lewis Knowledge Management Information Paper WOSC Class 14-005 14 November 2013 Knowledge Management Application in 1-3 Attack Battalion Within the Army organizations of today knowledge management plays a huge role in the dissemination of information to the unit and it’s soldiers. This is no different for the aviation unit in which I operate. This information can be found in FM 6-01.1, Knowledge Management Operations. It defines knowledge management as the process of enabling knowledge flow to enhance shared understanding, learning, and decision-making. But when the unit was surveyed about their understanding of knowledge management the results were surprising. Out of roughly seventy-two assigned aviators, I surveyed ten. These consisted of two senior aviators, two commissioned officers, two junior Warrant officers out of flight school, and four tracked aviators. When asked about what knowledge management was only the two senior aviators knew what it was, this is because they had attended the Warrant Officer Staff Course where they learned about knowledge management. All the aviators surveyed were surprised to find out that the Army actually had a publication breaking down knowledge management. After explaining what knowledge management was I asked the aviators to give me an example of how knowledge management was being utilized in the unit, all said the same thing; the reading card file. In aviation the dissemination of information is critical to the...
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...importance of knowledge management (KM) and are gradually directing their efforts on practices to nurture the creation, sharing and integration of knowledge management and economic development as a solution to the world`s social problems. King (2009:p4), defines Knowledge management as the planning, organizing, motivating, and controlling of people, processes and systems in any organisation (private and public) to ensure that assets that are associated with knowledge are improved and effectively employed. King (2009; p4) further explains that an effective Knowledge management process must at least encompass knowledge acquisition, creation, refinement, storage, transfer, sharing, and application. Economic development strategy is defined as a cooperative effort of businesses, civic organisations and the public or government to map out economic projects and goals that will strengthen the economic growth of a country. Economic development strategy analyses the local and regional economy and serves as a guide for establishing local and regional plan of action and identifying investment priorities and funding sources. South Africa is a constitutional democracy with a three-tier system of government and a liberated judiciary. The national, provincial and local levels of government all requires legislative and executive authorities in their own spheres, and are defined in the Constitution as distinctive, interdependent and interrelated. However, in terms of information and knowledge management...
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...Management knowledge and knowledge management: realism and forms of truth John Mingers1 1Kent Business School, University of Kent, Canterbury, U.K. Correspondence: John Mingers, Kent Business School, University of Kent, Canterbury, Kent, CT2 7PE, U.K. Tel: þ44 1227 824008; E-mail: j.mingers@kent.ac.uk Received: 24 July 2007 Accepted: 15 October 2007 Abstract This paper addresses the issue of truth and knowledge in management generally and knowledge management in particular. Based on ideas from critical realism and critical theory, it argues against the monovalent conceptualization of knowledge implicitly or explicitly held by many authors and aims instead to develop a characterization that recognizes the rich and varied ways in which human beings may be said ‘to know’. It points out and conceptualizes a fundamental dimension of knowledge that is generally ignored or cursorily treated within the literature, that is, ‘truth’. It identifies four forms of knowledge – propositional, experiential, performative and epistemological – and explores their characteristics, especially in terms of truth and validity. It points out some implications for knowledge management. Knowledge Management Research & Practice (2008) 6, 62–76. doi:10.1057/palgrave.kmrp.8500161 Keywords: knowledge management; knowledge; information; critical realism; critical theory; truth Introduction Although knowledge management (KM) has established itself as a bona fide subject both in practice...
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