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what is the important of ict in banking
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ABSTRACT
World Bank provides loans, counselling, and a group of dedicated to more than 100 countries ,the World Bank helps poor countries because it has become involved in the global economy. The Bank is the largest provider of development assistance, granting about $ 20 billion in new loans each year. The Bank also plays a vital role in coordinating with companies
The Bank has an active role in the fight against poverty and the main focus is the poorest people and the poorest countries to help. And stresses the need to invest with people, particularly through basic health and education. The Bank also emphasizes the protection of the environment, and to support and encourage private sector development, and strengthening the capacity of governments
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As such, the necessities of knowledge management are:
Transform knowledge into value-added operations and business processes
Knowledge of the business strategy to accelerate growth and innovation strength
The use of knowledge to provide a competitive advantage for the business.
The goal of knowledge management is to improve performance continuously in the organization by improving the regulatory and sharing knowledge throughout the organization (ie the aim is to ensure the organization has the right knowledge at the right time and place).
Knowledge management is a set of proactive activities to support the organization in the creation, absorption and diffusion of knowledge and its application. Knowledge management is continuing to understand the knowledge needs of the organization process, and place of knowledge, and how to improve knowledge.
World Bank obtained from knowledge management to provide voice services, video and data across the most sophisticated global developmental learning network (GDLN) to 120 learning centers in 80
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Therefore, we recommend that the bank develop and implement an integrated and coherent policy Web meets the needs of both the organization and the business units and groups. Policy should clarify what should be on the Internet, in the form of what, why use, which is responsible for the provision of content and infrastructure development, including internal knowledge management, and the unity of the Internet and Web sites
However, I do not dismiss that actual knowledge management truly exists or is being utilized due to the differing understandings of the terminology. In fact, I have seen knowledge management at its best in a first-hand experience. My organization has a strict rule that certain positions must take a mandatory consecutive 5-days off of work each calendar year. While an employee is out of the office for 5 days, work must continue. Processes, procedures and training have been implemented to assist in passing on information relevant to taking over another position during this time. Cross-training helps in this endeavor, but actually performing the duties of another job for 5 days requires knowledge management implementation to achieve success. Due to this, the organization must “impart knowledge and skills that enable employees to be more effective in their positions” (Avtgis, Rancer, & Liberman, 2012, p.
Catherine Caufield provided the flamboyant details of the projects that were sponsored by the World Bank to help the poor people but in reality they made rich people richer. The World Bank is only largest moneylender to the third world of poor countries. World Bank has great influence on the third world countries. It not only provides fund to them but also draft the projects sponsored by it.It determines the outlines, objectives, designs and outlook the all proposed projects. The government of those countries is also influenced by World Bank decisions. In other senses we can say that those countries became the puppet in hands of the bank. In order to keep itself at top position, it spends a large sum on promoting its philosophy of development by organising conferences, symposiums and
The literature review has emphasised on the importance of four major and common factors in regards to managing knowledge work, that is, communities of practice, information technology support, KM activities, and performance outcomes (Davenport & Prusak 2000; Demarest 1997; McDermott 1999). Much of the existing research on knowledge creation focuses on the source and state of knowledge. In fact, the term management control of activities that may be uncontrollable or stifled by ...
Knowledge management is the main element of a business strategy that will allow an organization to increase the rate that it is able to handle new market challenges and opportunities. It does this by leverag...
The organizations should invest in knowledge management platform that can help their employees, customers and other stakeholders to quickly find the relevant information, where knowledge keeps expanding itself through collaboration, co-creation and insights. This will enhance the overall customer experience because CUSTOMER IS THE KING.
The influential paper, “Managing Codified Knowledge” by Zack (1999) is reviewed here. The definition of knowledge and knowledge management, the benefits of knowledge management, the author’s rhetoric on the architecture of knowledge management and its importance in modern business organizations are discussed here. This paper also attempts to analyze two case studies presented by the author, and a brief summarization of the author’s key findings is also intended.
(d) As a development advocate: These banks also help in promoting the ‘business of development’ such as job generation, domestic resource mobilization, countryside development, urban renewal, etc.
Pasher, E., & Ronen, T. (2011). The complete guide to knowledge management: A strategic plan to leverage your company 's intellectual capital. Hoboken, N.J: John Wiley & Sons.
...bjectives and realize growth. Knowledge Management Knowledge management plays a key role in ensuring that the different functions and activities of a company are synchronized. In Google’s case, the purchase of Motorola (which has turned out not to have been the best business decision) probably could have been avoided if the knowledge within the company was managed and used better. Knowledge enables a company to create, recognize and distribute opportunities. When every employee of a company contributes his or her part of knowledge into the knowledge pool, it is very beneficial as it contributes to the overall success of the company. Proper application of the available knowledge in a company can offer several competitive benefits to both the company and the employees. Application of accurate knowledge at the correct situation helps a company to make good decisions.
Hansen M., Nohria N., and Tierney T. (1999), “What’s your Strategy for Managing Knowledge?,” Harvard Business Review (March 1999), 106–16.
In most organizations, effective utilization of knowledge increases productivity, creates competitive advantage and, ultimately, improves profits.
(106) 'Knowledge management means using the ideas and experience of employees, customers and suppliers to improve the organisation’s performance. ' (5) Knowledge management (KM) is best when 'it is in alignment with organizational culture, structure and strategy ' (5). For this reason, the aim of this briefing document is to advise Santander on solutions to potential KM barriers employees may face by discussing three key barriers- culture, technology and leadership.
Rosenberg (2011, p66) defines Knowledge Management as it creates, saves and exchanges information and expertise within communities, organizations and persons with similar interests and needs.
Researches relating to the universities and KS mostly emphasize on the matter that the working atmosphere of the universities are different, that other institutes in various ways and the picture of different aspects resulting out of knowledge management(KM) and KS. Towards designing the KM strategies or more precisely in pursuing to promote and facilitate the provision of KS, accommodating the positive environment and culture in the organization has been identified as the main important subject matter by many commentators.9, 10Mostofa11 revealed that, initial overall benefits from the early stage of KS among female students of Khulna University in Bangladesh, were encouraging. The findings of that study also showed that, the existing culture
Knowledge retention is an important part of knowledge management. According to Daniel Alpert at the University of Oklahoma, knowledge retention strategies improve innovation, organizational growth, efficiency, employee development, and competitive advantage. At the UNESCO meeting on High Level Group of Visionaries on Knowledge Acquisition and Sharing, which met in June 2007, they stressed the need for improved knowledge acquisition models and strategies (Liebowitz, 2009). He also mention the key reason for performing knowledge retention is to grow the institutional memory of the organization. In this manner, employees can learn from past successes and failures to ensure positive results. Learning from others could help avoid going down the wrong paths or reinventing the wheel.