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Importance of knowledge management and its importance to organization
The strategic importance of knowledge management within the organisation
The strategic importance of knowledge management within the organisation
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Introduction
This business proposal characterises knowledge management in details of resources and enablers. Knowledge management controls what the organisation knows and recognises (its knowledge resources). Queensland Corrective Services is about decision-making and administrating corporate governance in terms of planning, risk management and budgeting. Knowledge management manages enablers, by shifting knowledge around the organisation and the systems that support this movement. Queensland Corrective Services creates value from knowledge and delivering performance improvement. This business proposal develops a framework to evaluate and implement knowledge management tools.
Business Background
Queensland Corrective Services Custodial
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The Wiig knowledge management cycle best describes Queensland Governments Information Management Policy Framework utilising, build, hold, pool and use strategy. Analysing and obtaining knowledge, reconstruct and codify and model knowledge are a few of the steps in Wiig knowledge management cycle. Below defines the Queensland Government Information Management Policy Framework.
The definitions for the respective areas within information management as per the Queensland Government information Policy Framework Definitions (DCS 2012, Information Management Strategic Framework, Version 2). include:
• Information Governance – focus on overall policy, governance, architecture and direction for information and information management
• Information Asset Management – focus on full lifecycle management of information as an asset and classifying and cataloguing it so it can be found and used
• Information Asset Access and Use Management – focus on sharing, licensing and use of information so information is easy to find and able to be exploited as widely as
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).
This wider definition relates the application of knowledge to the wider processes of business practices i.e. the production and promotion of goods and services. Further it indicates how technological de...
Hansen M., Nohria N., and Tierney T. (1999), “What’s your Strategy for Managing Knowledge?,” Harvard Business Review (March 1999), 106–16.
The management of knowledge within the context of organizational processes is a determining factor of its effectiveness and level of performance. Hislop (2013) stated, "One of the key distinctions in the knowledge management literature relates to epistemology" (p. 8). In an attempt to acquire an in-depth understanding of key aspects of knowledge management I will analyze a key organizational job position that possesses valuable experience and traits of fulfilling responsibilities. My analysis will include a description of the organization and position, a review of the perspectives and types of knowledge, as described by Hislop (2013), as they relate to the job position, and the challenges encountered in transferring
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
With today’s rate of development in technology, there has also been an immense increase in global information sharing. Innovations in technology and design seem to be emerging in the market almost every month. One of the key aspects of any business is to gather, organize and efficiently apply this information. According to Antonic (2005), economic assets are fast becoming of secondary importance in the market as companies ascribe more importance to intellectual capital. With the right application of Knowledge Management methods, companies can achieve a competitive advantage through managing the immense amount of information available (Balanced Scorecard Institute, 2002).
Turning to the issues related to information handling, the definition of the information management should be mentioned. According to Hinton’s perspective (2006, p.57) the information management is “the conscious process of gathering information”. A brief overview of the presumable information sources in a high-technology company can help to outline the situation. T...
Knowledge management (KM) is extolled by some as being an important intangible asset that enhances an organization’s ability to innovate (Chea, 2009). Broadly defined, KM involves a company’s process of obtaining, consolidating, and communicating knowledge to various members of the firm, in which those individuals use the knowledge acquired to make the organization more productive, efficient, and competitive (Mousavizadeh, Harden, Ryan, & Windsor, 2015). The use of knowledge to create innovations involves having an effective KM strategy. Irizar, a company who at one point faced insolvency, represents a firm whose exemplarily knowledge management strategy led to the organization’s innovation and competitive advantage (Forcadell & Guadamillas,
As a conclusion, it is clear that knowledge management plays a vital essential role in innovation. Therefore, it is very crucial for both knowledge management professional and innovation to understand the systematic relationship between these concepts and the value that it can generate in respect of creating and maintaining sustainable competitive advantage for organisation.
The other kind of assets is the service availability. This can be seperated into two aspect.
In most organizations, effective utilization of knowledge increases productivity, creates competitive advantage and, ultimately, improves profits.
To this organisation, every problem, difficulty or obstacle it encounters become a source of learning. It thrives on analysis, action and feedback. Similarly, it is able to forecast the future learning needs – the competencies it will require in order to have the strategic and pragmatic advantage over its competitors.
(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.
Bachelor of Science Information System Management (Hons). This programme recognises information as a strategic resource. It is design to educate and train students with knowledge and skills in managing information. It involves analysing, designing, and managing various type of information systems for identifying, acquiring, retrieving as well as disseminating information for users strategic and competitive purpose.
Same goes to this article that has its weaknesses. Besides these criticisms, this paper has some value and we need to judge it in terms of the authors' purpose in writing it. It is not intended to be a precise piece of academic work, but is intended mainly to enhance leadership in information field. As a conclusion, information leadership is about exploiting information resources and infrastructures, but in order to be valuable it should also demonstrate a completely understanding the consequences. The article is basically in line with the descriptions of the concepts discussed in earlier literature that covers definitions of information and knowledge leadership and bring both conceptual and practical clarity to the different aspects of the responsibilities of information and knowledge professionals. This article gives much knowledge that benefit to readers so they can think towards new era of information leadership. Hence, this article is good to be a reference for its intended users regarding information and knowledge