Knowledge Management Technique

IT application for problem solving – For this Hewlett Packard is having a competence database. Apart from it, there ae several communication application as well like intranet and video conferencing.

Organisation tools for problem solving – the company is having a process to share info in their laboratories. Moreover, staff can share info through informal network as well.

2. Difference between knowledge management and information system

3. What are business focus area of KM

There are 4 focus area of KM that is :

Operational excellence – it emphasis on improving business internal process through knowledge. Generally, process is modified or innovated.

Customer knowledge – here, it focuses on identifying customer needs in effective way and fulfilling it. Moreover, it includes gaining knowledge about market, customer and product.

Innovation- in this new products are developed with help of knowledge. Besides that, production time is reduced in new product development.

Growth and change – it refer to expanding in new markets with improved process and products.

4. Why it is important to identify need for improvement in organisation

It is important for business to compete in market and sustain for long term. this is possible when process is changed and business efficiency is improved. Besides that, with change in external environment it becomes difficult for them to operate. Sometime, because of pressure of market and workplace culture it is necessary to make improvement. So, for this KM tool is one of effective way to bring changes (Gunjal, 2019). Along with it, to solve several issues related to organisation it is important to identify needs. Get Assignment Examples.Talk to our Experts!

5. Three elements of KM

Basically, a KM works on knowledge and understanding. Its elements are as follows :-

Improving informal flow of knowledge between individual- in this element the knowledge is shared between individual. This is done by improving or motivating employees to share knowledge with one another. The management interact with staff and allow them to share skills, experience, etc.

Building system for sharing knowledge within business- here, systems and processes are built through which knowledge is shared. The organisation defines way that help in sharing ideas and knowledge. Besides that, IT systems are installed to communicate and for storing knowledge.

Tapping into new knowledge from external sources – this is third element where business search for new knowledge that exist outside firm. It is collected from sources like investors, customers, competitors, etc. (Nisar, Prabhakar and Strakova, 2019)

6. Barriers in capturing info and failure of knowledge

There are usually three barriers in it which is describe as :-

Individual barriers

Lack of time for sharing knowledge

Lack of awareness about different tools to share knowledge

Difference in hierarchy, education and experience level.

Lack of social network

Lack of trust among others

Poor communication skills

Organisational barriers

Ineffective leadership and management to direct employees

Lack of resources to implement KM strategies

Large size of organisation structure (Liebowitz, 2019)

Ineffective flow of communication practices

The corporate culture may not be effective enough to share knowledge

Lack of rewards and incentives for experienced staff.

Technology barriers

Ineffective IT infrastructure or resources to maintain IT systems

Lack of training given to employees on how to use IT systems

Disparity between individual requirement and integrated IT systems

Resistance to use IT system

7. What are the different options of KM tools

For a business it is difficult to manage and reuse knowledge. So, the option of KM is core competency. It refers firm expertise that enable in sustaining and gaining competitive advantage. With help of core competency, knowledge can be easily managed. However, IT is also an option of KM. through use of IT systems innovation can be done and knowledge is shared.

8. Guidelines to structure KM efforts

It is essential to built a KM culture so that knowledge is shared easily. For that there are certain guidelines which needs to be considered.

Step 1- recognise KM is a strategic practice (Gunjal, 2019)

Step 2- to follow the lifecycle approach for implementing it

Step 3 – analyse that challenges are to be overcome

Step 4- focusing on strategy and process rather than KM tool

Step 5- to capture knowledge through product of work.

Step 6- to build in such a way that people work.

9. Various organizational resources

Organizational resources are those assets that are available to use in production process. Some of the most basic types of organizational resources available are as follows:

• Human resources: All the employees who works for an organization are one of the main resources that an organization has (Abubakar and et al, 2019).
• Capital resources: All kinds of machinery that are used for production or products or knowledge are another important resource required by an organization.
• Monetary resources: Money invested by management in buying goods and resources for the company.
• Raw materials: Materials that are used for producing products. These are also known as tangible resources.
• Information resources: It includes all kinds of useful data and information that are required by an organization for effective decision making, enhancing knowledge and that works as key competence for all the employees of an organization.

10. Analysis techniques that can be used for effective implementation and development of KM strategy

• Facilitated discussion: It is a kind of need analysis technique that can be used to explore all kinds of issues related to staff groups. This technique is mostly used with consultants, management and other staff members who are comfortable with such kinds of meetings (Cepeda- Carrion, Cegarra- Navarro and Cillo, 2019). In many cases this technique is used for development and implementation of KM strategy.
• Focus groups: this kind of need analysis technique is mostly used to facilitate discussion that focuses on exploring topic within a group setting. It is a kind of technique which is used as a way of input gathering from all stakeholders, I order to generate meaningful discussion. With the help of technique problems and issues can be explored for discussion of knowledge management approaches, so that effective development and implementation of knowledge management strategy can be done. Order assignment help from our experts!

TASK 2

A). Summarised the overview of events.

The African development bank is based on the financial multilateral development institution. It was formed in 1964 and also operates various entities: Nigeria trust fund, African development bank and development fund (Sarpong, 2019). The primary objective is to identifying knowledge management system that can be used in African bank for maintaining and collecting information in proper manner. In this report, it has summarised about knowledge management strategy that implement within African development bank.

B) Description of different methods where report will follow.

The report is based on the African development bank case study that provide brief idea about the business goals and objectives. Initially, section one- I will identify the different arrangement if capturing while using enterprise knowledge through external as well as internal resources (Kararach and et.al., 2018). In section two, I will understand the existing knowledge management system that mainly used within organization for maintaining enterprise procedures or policies. Afterwards, In Section three, I will perform the significant role of knowledge system for identifying customer demands and primary goal of organization.

ANALYSIS

A). Discuss about the existing arrangement of captured business knowledge through external and internal sources.

In context of Internal source, African development bank is mainly engaged with gathering all experience and must have generated from past 50 years. It always helps for maintaining paper-based strategy that belongs to past. So as analysed the African development bank which make sure that several of channel who always contained unique data or information. The African bank is coordinated and engaged with the key research for increasing gap of knowledge. In this way, it is an essential for organization in decision making (Vendrell-Herrero, Darko and Ghauri, 2019).

In context of external source, African development bank is mainly including various type of publication event or program. They have directly published the report of bank and share information related development. The bank was funded by African virtual universities that providing e-learning facilities.

B). Existing knowledge management system and processes.

In African development bank, the existing knowledge management system is mainly providing the facilities of exchanging knowledge in terms of innovative and creative ways. In this way, it become easier to transformation of particular Africa within global nation. Knowledge management system is considered as important pillar that easily identify requirement of development and also improving overall business service quality.

C) Effectiveness of existing system and processes.

The effectiveness of existing procedures of knowledge management system has improved overall quality of services in order to focus on the organizational goals, objective, aim, standards and needs of client. KMS is useful for enhancing the enterprise operational procedure and make sure that knowledge culture within bank has increased or maintained (Lwoga, Ngulube and Stilwell, 2020). The effectiveness of African bank will be achieved by reducing level of poverty and increase employment rate in Africa.

D) Describe about the reason of ineffective knowledge management system.

Main reason of ineffective knowledge management system within African development back due to lack of engagement, poor internal or external network connectivity. In this way, it can be analysed that there is not good culture environment where they were unable to invest for knowledge building.

EVALUATION

A) Identifying possible barriers faced by organization as per capture knowledge.

The African development bank has faced many challenges and barriers because African citizen who are not aware about the knowledge culture and management system. Most of employee do not have a proper knowledge about environment so that they are not properly associated with web-based knowledge system (Kararach and et.al., 2018). in this way, it has increased coordination and communication between employee or client. It directly affects on the overall business process of African development bank.

B) Discuss about knowledge management techniques and tool within organization.

There are different type of knowledge management techniques and tools used by African development bank. It mainly including telephones, e-mail, chat box and other type of unified communication. These are common tool which help for capturing knowledge and sharing information from one employee to another. Apart from that it also used the Database analytical tool that stored a large number of details about client where bank easily enhanced quality of services.

C) Evaluation of listed option

An effective communication is important for African development bank that help for exchanging information from one place to another. in this way, it can easily maintain knowledge of African bank. In most of cases, the bank must use both external as well as internal communication through social media while engaging policy and procedures. It will support for increasing collaboration and communication with bank partners (Puplampu, Hanson and Shaw, 2017). E-mail is the most common option for purpose of communication. It is usefulness of African bank to maintain coordination with clients. Sometimes, it become fail due lack of knowledge about knowledge management tool.

D) Develop a plan and justified that validity of options.

From above selecting the knowledge management tool such as E-mail for communication, which will support for African bank to establish coordination with other members. they are developing an effective policies and procedures after discussion with employees. It will help for generating positive result or outcome. Knowledge management can be managed and improved effectively with the help of digital platform. It become necessary part for African development bank is to improve communication among staff members.

It has been justified that this type of communication option like e-mail develop a high strong knowledge culture within organization. The viability of communication tool is to increase performance and efficiency.

E) Determine the extrinsic and intrinsic awards.

The intrinsic and extrinsic rewards are based source for acquiring knowledge and improve individual performance. It may include incentive so that large number of people participants in team and always motivated towards knowledge sharing. In order to achieve the organizational goals and objectives. Sometimes, knowledge can relate to policy making which provide better direction of African development bank (Lwoga, Ngulube and Stilwell, 2020).

The Intrinsic reward is based on the intangible nature where it satisfied the feeling of employee and being appreciated. In this way, employee share their innovative idea for business development. on the other hand, the extrinsic rewards related to the incentive where it can be tangible nature. It provides medal, trophy to the entire team within African development bank.

F) Discuss knowledge management process used within organization.

The process of knowledge management is a type of step that useful for identifying the overall need and requirement of African development bank. Through process, it examined different steps for maintaining and managing requirement of bank (Kararach and et.al., 2018).

• Gathering: It is initial step for mainly storing large number of data or information related to knowledge management. African development must be collected data in document format.
• Conducting: it is collecting information by African development bank that need to be maintained in proper manner. For Example- It will make policies related knowledge management.
• Summarising: It has been summarised data that should be collected through knowledge management system. it also represents in the form of graph.
• Analysing: Information can be collected by African development bank and also analysed in proper manner.
• Decision-Making: By using knowledge management, it can be taken important decision related business development for long term.

DEVELOPMENT

A) Approach uses in the knowledge management strategy.

As per developed knowledge management strategy, it must be used consultation approach by African bank for managing knowledge. In this way, it being successfully managed by strategies and also emphasizes that proper knowledge sharing environment or culture. By using consultation approach, African development bank can be analysed that employee members share their knowledge and personal experience (Martins and et.al., 2019). This type of approach is mainly concerned about the employee improvement so as provide the better training to enhance their skill and knowledge. Afterwards, they must support for African development bank in terms of goals achievement.

B) Explain effective knowledge management strategies.

There are common effective knowledge management strategies implement within African development bank.

• Periodic review process: This type of strategy is useful for managing and controlling knowledge within African development bank where they are conducting meeting for engaging within staff members. Each member has shared their own opinion regarding business improvement, strategic planning and so on. In this review process, it can be identified the issues or problem occurs during knowledge management (Fombad and Onyancha, 2017). In this way, it become easier to review about the effectiveness of knowledge management tool that being used in African development bank. It must ensure that easily achieve significant result or outcome.
• Knowledge management Matrix: This type of matrix always assists for African development bank for analysing knowledge management strategy. it can be used by African bank to share knowledge with employees (Kararach and et.al., 2018). By using Matrix, it will take feedback from staff members, individuals to address current running business activities. It is helping for African bank to make better knowledge culture.
• Procedures to maintain continuous improvement: In order to maintain continuous improvement that will require for managing business activities and also identified that knowledge culture should be utilised for long term growth. In most of cases, it can be improved capabilities of African bank because it assists for enhancing ultimate objective and goals. At final stage. An effective strategy will support to determine opportunities where how it will generate accurate result or outcome.

C) Justified the successful implementation of planned knowledge management strategy.

It has been justified that successful implementation of planned knowledge strategy supports for African development Bank in terms of growth and development.

Aligned with Business requirements, implement overall enterprises plan and strategy

It is one of most common approach in term of knowledge management strategy that will make long terms objectives. Afterwards, it also evaluating the business plan for reducing level of poverty in Africa. In this way, African development bank has been achieved the mission, vision and goal of business in global marketplace. In this way, it always changing procedures and policies to maintain continuous improvement activities.

Consider Budget cycle

African Development bank should be included the Continuous improvement strategy to maintain overall budget of business development. It always tries to set up short term goals for preparing documentation. In case, if it required to access data or information in proper manner. On the other hand, African bank has developed the strong bond with external centres and partners. It will support for increasing business operational efficiency and performance.

Consider Technological Needs along with budget require

African development bank is trying to formulate budget by using information technology that support to collect details about resources, equipment’s. In order to maintain the overall operational capabilities of Bank (Kararach and et.al., 2018). In some situation, African bank has adopted the proper rules and regulation that will help for earning a lot of money by using information technology. These are expenses included within overall budget of African development bank. An efficient way to maintain budget that will increase profitability.

1. Explain various dimensions of knowledge management with diagram

Knowledge management have several dimensions that helps in implementing knowledge management.

• Strategy: Strategy of knowledge management completely depend upon corporate strategy. It helps in managing, creating and sharing knowledge assists that helps in meeting various organizational requirements.
• Organizational culture: It helps in influencing the way in which employees of organizational people interact with each other which helps in creating knowledge (Gaviria-Marin, Merigó and Baier-Fuentes, 2019).
• Organizational process: Correct environment, process and system helps in implementing knowledge management within an organization.
• Leadership and management: leadership is one of the main requirements of KM other than this there are various kinds of knowledge management roles such as knowledge manager, CKO that are required by an organization.
• Technology: properly implemented technology helps in fulfilling organizational requirements.
• Politics: Helps in supporting initiatives that involves organizational functions

2. Knowledge management processes, concepts and trends

Knowledge management concept:

KM is a process of accumulating, generating, acquiring as well as using knowledge for organizational benefit in order to gain competitive advantage.

Knowledge management process:

KM process consist of following steps:

• Knowledge need identification for successful corporate strategy implementation (Gloet and Samson, 2020).
• Determination of asset of knowledge such as suppliers, competitors, processes and many more.
• Knowledge generation either through knowledge assets or by creating emergence of learning organization.
• Storage of knowledge within knowledge repositories
• Distribution of knowledge so that all the organizational members can access collective knowledge.
• Utilization of knowledge in organizational processes, products, procedures etc.

Knowledge management trends:

Three most important trend of knowledge management are: Search for meaningful knowledge, analysis or transformation of knowledge and imp[act of artificial intelligence on knowledge.

3.Individual barriers in capturing knowledge within an organization

• Lack of time gathering or capturing knowledge is one of the main individual barriers in capturing knowledge
• Low awareness or realization of gathering knowledge from others.
• Insufficient gathering of knowledge because of continuous evaluation and feedbacks (Gunjal, 2019).
• Lack of contact and interaction time between knowledge sources and person who is capturing knowledge
• Lack of trust on knowledge source credibility and accuracy.
• Internal sources: Data gathering from marketing, sales, human resource, finance etc. Internal information is mostly collected for determination of bottom line, revenue and profit of an organization
• External sources: It consist of organization’s external environment such as: macro environment, industry, competitors, market etc.

4. External and internal sources of information

5. Major differences between knowledge management and information management

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