Importance Of Knowledge Audit

Our modern society encounters rapid changes that inevitably lead business organization to become continuous innovative engine in facing the dialectic of stability and change to meet the demand of ongoing changing environment. In order to be remaining competitive through providing superior value; today, businesses are required to gear up its knowledge based activities by taking knowledge management initiatives seriously. Surely, knowledge management in organization gets its momentum in recent discussion of both academic and practitioner fields. The diversity of disciplines (Economics, Information and Library Science, Information Systems, Computer Science, Engineering, Communication, Cognitive Science, Organizational Behavior and Theory, Psychology,

IS STRASSMANN’S ‘KNOWLEDGE MANAGEMENT’ AN IMPORTANT METRIC By: Masoud. Noordeh Abstract In today’s dynamic business environment, Knowledge management systems facilitate organizational learning and knowledge creation. They are designed to provide rapid feedback to knowledge workers and significantly improve business performance. This paper examines the concept of knowledge management metric from the view point of Paul Strassmann. Keywords: Knowledge, Performance Management Metric, Knowledge Management.

An organization can define its strategic human resource roadmap by availing framework in which to plot a course to its future. For the achievement of this, an organization has to avail findings for utilization as benchmark for comparison with its assumptions, strategies and directions. The proper analysis of these factors may enable an organization to gain competitive advantage via its human resources in the marketplace. In the business context, the marketplace not only includes goods and services but also a good employer with both potential and existing employees (Thomas Cummings, 1994). On the other hand for an organization to effectively stimulate dialogue with its employee... ... middle of paper ... ...ivity-measurement-increases-competitive-advantage/ Gireesh Sharma, (2010).

Secondly the paper will review relevant theories and practices associated with Strategic Human Resource Management (SHRM) and how these theories and practises can assist in managing the organisation knowledge. Lastly the paper will attempt tie to together knowledge, SHRM and how the use of SHRM can impact on the organisations competitive advantage. Within the professional services sector, such as consulting, an employees knowledge of the industry in which the organisation operates is important. This knowledge is applied to the problems encountered in order to develop solutions and answers specific to the problems and clients encountered (Teo, Brown et al 2008). This knowledge is also the organisations competitive advantage and must be harnessed as an asset (Razouck etc 2009) to ensure its most effective use.

However, in evaluating the literature there may be some level of linkage in which the adequate management of knowledge (tangible and intangible/ explicit and tacit knowledge) will surge capabilities, which can result to competitive advantage. The organization exists in a social context where members interact to accomplish organizational goals. The attainability of the managers is crucial to glue these elements. Teece and Pisano (1994) stated “managers coordinate or integrate activity inside the firm. How efficiently and effectively internal coordination or integration is achieved is very important…” (Teece and Pisano,

CoP builds sustainable capacity to innovate through collaboration with the knowledge base in those companies which do not already have the ability to engage in successful open innovation. Effective knowledge transfer through a conversion of tacit knowledge to explicit knowledge can build a sustainable capacity to innovate within an organization and gain an external competitive advantage. The critical success factors of the model in its fullest sense, builds from the identification of actual business needs and challenges to the completion of a project or campaign with reporting, is not a series of separate processes but instead a single integrated model of people, process and machinations with important feedback criteria. The success of knowledge transfer depends on this integration.

The need of knowledge management based on the growth of business community perception stems from the fact that knowledge is regarded as an important element is organizational performance and access to sustainable competitive advantage 1.2 Motivation of the Study Achieving and maintaining competitive advantage requires better information management, Information Quality, Information Reliability, Information Access Information Sharing and providing better information management to transform the competitive space to transform relationships betwee... ... middle of paper ... ..., store, share and leverage not only data and information but also the knowledge of firms. If the majority of information needed for decision making exists in the minds of employees, a system is needed to capture and codify this knowledge. It suggested that emergence of new technologies has increased the ability of organizations to share knowledge, not just internally, but with external stakeholders. E-knowledge networks allow their participants to create, share and utilize strategic knowledge to improve operational and strategic efficiency and effectiveness. 4.

Having said these optimistic accounts, this report will also examine the reasons as to why it can be tedious to determine the influence of human resource strategy on business performance. 2.0 IMPORTANCE OF ALIGNING BUSINESS STRATEGY AND HUMAN RESOURCE STRATEGY A well-thought and coordinated SHRM is undoubtedly considered the blueprint for how a business should run in order to acquire competitive

‘’A company’s strategy is managements game plan for growing the business, stacking out a market position, attracting and pleasing customers, competing successfully, conducting operations and achieving targeted objectives’’ (Thompson, Strickland & Gamble 2008). Porter (1996) states strategy as choosing different set of activities to deliver a unique mix of value. Markides (1999) states strategy as a position a company takes to answer certain questions about the organization. Strategy can be viewed as a way to which the organization achieve its competitive advantage. Competitive advantage is the way in which the organization meet consumer needs better than their rivals.

The Contribution of Strategic Management and Strategic Thinking Processes to Organisational Performance Strategic management and strategic thinking processes make a significant contribution to organisational performance. A strategy, according to Robbins and Barnwell (2002, p. 139) is “the adoption of courses of action and the allocation of resources necessary to achieve the organisation’s goals”. It is important for organisations to achieve their goals, as this can assist them to reach a competitive advantage, which is a highly attractive position for a firm to be in. This essay will look at strategic management processes and how they can be used to improve organisational performance; it will also describe how strategic management processes have the ability to lower organisational performance. Strategic thinking processes will then be assessed, with a comparison of strategic thinking and strategic planning, looking at the similarities and differences between the two.