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What is the importance 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
Knowledge work according to Raman, (1999), contains activities, which are "information-based, knowledge intensive and knowledge generating" (p. 2). The paper's theme is, "organizations staying ahead of the competition have come to realize knowledge and knowledge workers are their key to success in today's environment where knowledge and information have become commodities" (Raman, 1999, p. 1). This paper's theme traces the historical development of knowledge management and knowledge workers; differentiates between knowledge workers and non-knowledge workers, and illustrate the knowledge workers experience in the author's organization. Knowledge systems contain the potential to increase business value (Bang, Cleemann, & Bramming, 2010).
As part of this initiative, the company will establish an online knowledge base accessible via the company intranet and hard-copy memory aids and reference in decision-making and conflict resolution.
Hansen M., Nohria N., and Tierney T. (1999), “What’s your Strategy for Managing Knowledge?,” Harvard Business Review (March 1999), 106–16.
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.
New economic institutions such as the World Bank, sought to spread the principles and practices associated with free market economies throughout the world by creating programs and lending money to countries, which allowed the people of that country to practice free market economic principles. The World Bank was originally created to help rebuild Europe from the vast destruction caused by World War Two. During the post WWII period the World Bank lent money to many European countries which has greatly helped them recover from their losses from WWII. For example the World Bank lent $250 million to France in 1947. That loan helped France rebuild its economy by creating jobs and infrastructure which later helped push the countries stagnant economy into the stronger free market economy of today.
Towards the end of World War Two, the Allies powers, especially Britain and United States, saw the world in need of a new economic system to help prevent future conflicts and prevent trading restrictions between nations. The end of the war was fast approaching and the world would need to rebuild and loans would be needed for this. In 1944, the US would invite forty-four nations to come together and agree upon the creation of international banking entities such as the International Monetary Fund (IMF), The World Trade Organization (WTO), and the International Bank of Reconstruction and Development (later established as the World Bank). It would be the ladder that world fund loans, first to exclusive nations, then in 1974, the World bank would look to help develop third world nations in need. According to a United Nations report in 1998, over 100 developing nations reported no significant change in their economy, even to the loans from the World Bank and About twenty percent of those nations also saw social indicators decline, a 500 percent increase from the prior decade. The one region not benefiting from any of the International agreements, is Sub Saharan Africa.
The main focus of the foreign aid program is to reduce poverty and increase the economic growth of other countries. We invest money into the private sectors of other countries in which we build better buildings and better business environments which on the long run will increase the economy for the country if the businesses that were supported succeed and will leave room for the government to improve the nation. We also support the growth in specific markets a that can help the poor become a consumer, producer or employee. We are currently more focused on help Papua New Guinea at this current time which is where most of our foreign aid is going to followed by Indonesia which we help build schools and fund students education, so they can get an educated population that can contribute to society. We also help undeveloped countries get a safe place to drink water by building wells and taps that get water to them.
...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.
To further understand the World Bank and its goals and policies, I explored their official web page. I was first greeted with their slogan, "Our dream is a world free of poverty". It seems like a noble statement that should be endorsed by the general public. Almost immediately I wondered why then did thousands of people from around the globe gather in Washington D.C. on April 16th and 17th to protest against the World Bank and the International Monetary Fund. On April 17th, CNN reported "The demonstrators, from dozens of different groups, include environmentalists, anti-free trade lobbyists, and human rights activists". That does cause one to question whether or not the World Bank’s motives are as virtuo...
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.
This paper is to research a project of the World Bank or the IMF that created problems for the
World Bank Group - the group that consists of five organizations created in different times and functionally united,organizationally and geographically, the purpose of which is providing financial and technical assistance to developing countries.
(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.
The aim of a knowledge audit is to establish where an organisation is in terms of knowledge capabilities. A knowledge audit is done to enable an organisation to find ways to better their core processes and take advantage of the existing organisation