In addition, a knowledge management system can track and evaluate key critical success factors for decision makers, which is valuable in assessing whether or not the organization is meeting its corporate objectives and goals. Overall, a knowledge management system can assist decision makers in making better informed decisions that affect all aspects of a company's operations (Dalkir, 2005)
'Mind work' cannot be managed in the way that muscle work could. To the extent that management still means supervision, control, and manipulation, it frustrates and blocks what we need most in an information economy: the free exercise of independent minds (DeTienne, Dyer, Hoopes & Harris, 2004)
Toyota has employed simulations as a means of providing workers with hands-on instruction in soft skills needed for conducting sales activities. The training program was developed based on the philosophy that content must be relevant, instruction must be learner driven, and training must be convenient and cost effective (Kelly & Nanjiani, 2005)
Because automotive technology changes so quickly, there is always more to learn; New knowledge makes old knowledge obsolete all the time. For this reason, leaders in the field have come to understand that to become a knowledge worker in the true sense of the term requires flexibility, adaptability and strong critical thinking skills (Lawler, 2005)
He is dedicated to applying his ongoing acquirement of knowledge to his present environment because this is where he feels it will be the most beneficial. He also feel a sense of loyalty to his organization and feels duty-bound to put back into the organizational knowledge bank more than he has taken out of it (Lord & Brown, 2001)
Knowledge is proud that he has learned so much; Wisdom is humble that he knows no more." (Cowper 1996) It's trial and error
The virtues of networks, however, are not straightforward and access can be unequal and problematic with excessive costs high even with well-funded and well-meaning initiatives like those taken by the World Bank: Consequently, development agencies and actors to think about knowledge management in new ways. (Stone & Maxwell 2005, p
As this paper assesses concepts contributing to effective knowledge management, it also Taming an Unprofitable Mass According to Stoll (2004), potential positive benefits obtained from implementing knowledge-management system to tame unprofitable masses of information include: Improved organization and utilization of institutional or business knowledge Reduction in work duplication; Decreased staff time used to search for information; More proficient customer service to customers and/or members; Additional time to invest in improving customer/member services. (Stoll 2004) Amar (2002, p
The rise of globalization and liberalization of the markets has driven businesses to expand and protect their assets including corporate knowledge with the intention of increasing competitive advantage. It is for this reason the intellectual capital of a business is considered a key asset to business (Huang, 2011)
In essence, knowledge management provides an organization with systematic and organized activities designed to offer employees opportunities of learning necessary skills and knowledge, to meet future job demands. Intellectual capital development begins with the identification of key intellectual capital resources in a business (Marr et al
Through knowledge management aspects like knowledge sharing, absorption, conversion, and storage, a business can structure capital, reproduce, and share technologies, data, inventions, culture, strategies, and procedures. Though a business cannot fully own human capital, it can management this capital along with its knowledge to achieve a higher market share, reduce defection rates, employee turnover, and increase profitability (Mouritsen et al
To implement this solution, the company used an approach of having the staff members, managers and employees of their suppliers work together to create a workable protocol that all organizations could use. (Holt, 2005) What are the differences in how each of these companies implemented knowledge management? The biggest differences are in the overall approach that was taken by the company to deal with these issues
KBR needs to develop its KM around knowledge dissemination, knowledge acquisition and responsiveness. Knowledge here implies the set of insights, technology, products, markets, customers, processes, and competition that lead to effective action (Bagorogoza & Waal, 2010)
This network of offices is served by 2,000 employees, with over 370 active contractors and employees. The company is a major engineering service and construction company, which offers support to energy, hydrocarbon, government and civil infrastructure sectors (Halliburton Corporate Sustainability Report, 2006)
While the training of employees in preparation for a leadership position or succession to a higher level is a noble strategy, KBR needs to incorporate a talent management plan. This plan identifies the right number of employees with the right experience, skills, competencies for the right jobs, at the right cost and time for the organization (Vaibhav, 2010)
Levinson defines knowledge management (KM) as the process by which organizations generate value from their intellectual and knowledge-based assets. Her definition goes on to say that generating value from such assets typically involves codifying what employees, partners and customers know, and sharing that information among employees, departments, and even with other companies in an effort to develop best practices (Levinson, 2010)
According to Kanagasabapathy, Radhakrishnan, and Balasubramanian, knowledge management is not so much about managing knowledge as it is about "managing and creating a corporate culture that facilitates and encourages the sharing, appropriate utilization, and creation of knowledge that enables a corporate strategic competitive advantage." They argue that a critical issue in adoption of knowledge management initiatives is the preliminary preparation of the organization to accept, adopt, and utilize new knowledge management processes (Kanagasabapathy et al
This might include video conferencing (recipients are in different places, but acquire knowledge in the same time frame) or live chats. It can also be disseminated through distributed asynchronous collaboration like email (recipients acquire knowledge at entirely different times and in different places) (Abdullah et al
2005). All knowledge, whether synchronous or asynchronous, flows through a set of "processes, events and activities through which data, information, knowledge and meta-knowledge are transformed from one state to another" (Newman & Conrad 1999:1)
In the new human-focused, knowledge-based economy: "Workers own the means of production-their knowledge. They can sell it, trade it, or give it away and still own it" (Allee 2010)