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Importance of knowledge management and its importance to organization
Importance of knowledge management and its importance to organization
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Anyone recognizing James Wolfensohn, the former World Bank president, in 1998 has been surprised by his decisions of budget for knowledge management. Creating a USD 55 million budget for knowledge management for fiscal in 1998, 3% of the bank 's entire administrative budget, Wolfensohn had come under a cloud of suspicion (Watson, 2007). However, the world-class knowledge management system captured and organized the institution’s knowledge and made the knowledge more readily accessible to the staff, clients and partners (Watson, 2007). Meanwhile, the system strengthened knowledge dissemination by linking with world-class sources of knowledge so that the bank would become more sophisticated with its development (Watson, 2007). As the World Bank develops, nobody today would regard Wolfensohn’s …show more content…
The definitions of KM are diverse, but information management and human resource management are the two main aspects of it (Uriarte, 2008). The two aspects permeate in companies’ daily operations and engage KM by transforming tacit knowledge into explicit knowledge. On the other hand, there are four pillars of KM, namely management and the organization, infrastructure, people & culture and content management systems (Uriarte, 2008). The four pillars can help companies understand KM thoroughly. Since KM is important, companies usually will give a certain position for it called Chief Knowledge Officer (CKO). CKO is responsible for supporting and promoting knowledge, as well as capturing and sharing knowledge (Uriarte, 2008). Furthermore, CKO is also need to consider effective knowledge management to prevent risks and loss. Consequently, knowledge management is able to make organizational knowledge more productive and enlarge organizations’ competitive advantage because knowledge management can generate values from knowledge based assets (Uriarte,
Google lists one antonym for the word “introverted”: extroverted. Extroverted is defined as “outgoing and socially confident”. Therefore, the Myers-Briggs personality test determined that I am an oxymoron. Not only that, but I’m a rare oxymoron. In fact, I am the rarest personality oxymoron in the world. What makes me a rare oxymoron? I am an outgoing introvert, and only 1.5% of other humans are as well.
Williamson in his book Knowledge and It’s Limits primarily seeks to support his novel perspective of “knowledge first” epistemology (v). This approach sets forth the idea that knowledge cannot be analyzed into more basic concepts, such as belief or truth. The basis for this argument is that knowledge is a mental state, and thus it cannot be broken down into the combination of external conditions – like the state of the world such that it makes a proposition true – and internal conditions – like belief in a proposition or the justification of that belief (6). Certainly, Williamson is able to illustrate in his introduction the way in which he equates belief and knowledge as mental states, and refutes the idea that belief is conceptually prior to knowledge. However, Williamson takes the assertion that knowledge is a general factive mental state and supports this claim by offering it as a new approach to epistemology that avoids the problems of trying to analyze knowledge, and instead allows for knowledge to be the central concept used to elucidate others, like justification and eviden...
If one were to open up a thesaurus, he or she would find that the word theoretical is synonymous to knowledge-based notion and academia, while the word practical lays equivalent to empirical thought and heuristics. The distinction between the two concepts’ definitions suggests that a person would not be able to identify with both words. One is strictly based in pure logic and ideology. The other finds itself confided within the walls of actuality and evidential and easily understood products. Jason Stanley, a philosopher and Yale professor, discussed in a Stone article the meaning of both practical and theoretical knowledge and how society has miscalculated the divide between the two concepts.
T.D. Wilson (2002) makes a point of identifying several sources of articles, references and course syllabi with varying takes on knowledge management within organizations. Wilson is convinced that organizations misuse the terminology “knowledge management” and that their activities are more concerned with managing information than with the management of knowledge (Wilson, 2002). Wilson defines knowledge as involving “the mental processes of comprehension” or, as “what we know” and information as the expression of what we know and can convey through messages (Wilson, 2002). By researching the use of the “knowledge management” Wilson conveys that the terms knowledge and information are used interchangeably, which results in an inaccurate application
Donald Davidson identifies three forms of knowledge which he believes to be irreducible and interdependent: knowledge of self, which is immediately known; knowledge of the outside world, which is simply caused by the events and objects around you, and thus depends on sense organs to be semi-immediately known, yet open to uncertainty; and knowledge of the minds of others, which is never immediately known. The standard approach to philosophy tries to reduce one of these forms of knowledge to one or two of the others, often leading to unanswerable questions. Davidson argues that all three varieties of knowledge are interdependent—that is, you cannot have any one without the other two. In this paper, I will primarily review Davidson’s argument of the interdependence of the three varieties of knowledge. I will then briefly discuss the plausibility of Davidson’s account and question if it truly can explain how we come to understand others’ feelings and emotions.
Waste Not, Want Not: if you use a resource carefully and without extravagance, you will never be in need. In a 2009 essay, “Waste Not, Want Not”, writer Bill McKibben argues on the excess of unnecessary waste. To halt climate change, he proposes to convince the reader to shift priorities in waste management and go back to the frugality of simpler times. Bill approaches his argument with a vast amount of informative charged words to convince the reader into taking his side of the argument. The writer’s intended purpose in writing this piece is to make a statement and develop his argument against the unnecessary waste. To make this argument effective, the writer utilizes logic to persuade the audience with overwhelming data and reason. His primary instrument of choice in this essay is using logically charged words followed by factual evidence to back up his claims. Although his use of emotion and pathos are less obvious, but where used, is effective.
(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.
In recent decades, the world economy has undergone an unprecedented level of integration. Previously, I have provided a list of knowledge management tools that can be utilized to analyze many questions and trends, as well as the reason why these tools are important in the global economy. These tools are essential of international relations as being able to examine global problems beyond the headlines. This paper further demonstrates how these tools could be applied to solve the problem or to bring the business opportunity to fruition in today's Japanese business environment.
Knowledge is considered as an important resource of an organization and TK is an intangible resource (Ambrosini and Bowman, 2001). According to Alavi and Leidner (2001) knowledge may be tacit or explicit; it may reside in individuals, groups, documents, processes, policies, or computer repositories. Minna and Aino (2005), remark that CK can be explicit (the structured customer information in databases) or in tacit (knowledge in the mind of employees and customers). Others define it, Knowledge has both implicit and explicit dimension (Mohamed et al. 2006; Klein, 2008).
...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.
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.
The International Monetary Fund and the World Bank were created as a result of the Bretton Woods Conference. Both provide assistance to countries suffering economically. While the IMF is a cooperative institution that aims to create an organized global system of payments and receipts, the World Bank is an institution that aims to help developing countries (Driscoll 1). Both play a part in the economies of struggling nations with the goal of reducing their burden and helping them to survive in the global economic system. Unfortunately, in many cases their practices within developing nations have been seen to create more harm than good. This is possibly because both institutions use a one size fits all approach when aiding countries rather than gaining a deep understanding of each country they are involved in and catering their approach as a result. In this paper I will examine the practices of the IMF and World Bank in developing nations that have led to failure and the effects the policies had on these countries.
Hansen M., Nohria N., and Tierney T. (1999), “What’s your Strategy for Managing Knowledge?,” Harvard Business Review (March 1999), 106–16.
Linde, Andrei, Dmitri Linde, and Arthur Mezhlumian. "From the Big Bang theory to the theory
There are many theories that have been developed by scholars to explain the principles and practice of management. Some of these theorists include: Henry Fayol; and Mintzberg among others. Henry Fayol is believed to be the first scholar to develop the management theory. Other scholars developed their theories based on the weakness of Henry Fayol’s theory of management (Thomson 2004).