Generally, the paper "Business Strategy and Knowledge Management" is a great example of finance and accounting coursework. Business strategy in a nutshell is the road map that any organization uses to ensure that they acquire a competitive advantage in the market over other companies in the same industry. For an e-Business strategy to be planed in any organization, the management has to familiarize themselves with the business expectations which will enable them to come up with better solutions (King, Marks and Scott 2002, pp. 94). The foundation of an effective e-Business strategy is an understanding of the organization’ s business goals rather than its e-Business goals.
E-Business is a way to assist improvements in an organization’ s processes, together with allowing the organization to expand market penetration and geographical markets. For this reason, the processes that will be integrated into the e-Business infrastructure have to be well vast and ready to be integrated into the organization system. It’ s therefore evident that the implementations of an e-Business without putting in place the goals and objectives of the organization leads to the failure of the e-Business as a whole (King, Marks and Scott 2002, pp. 94). On the other hand, knowledge management is a range of exercises used in an organization to recognize, generate, represent, allocate and allow implementation of insight and understanding.
These insights and understanding encompass knowledge, either personified in a person or rooted in organizational practice (Delen and Al-Hawamdeh 2009, pp. 145). It has become one of the requirements for an organization in e-Business and its growing customer-centric focus. For any organization to be able to operate in an e-Business environment, it has to poses good command of knowledge on its market, clients, method and process, regulatory environment, competitors, and the goods and services that they do offer to their consumers.
This is attributed to the idea that organizations can, with the introduction of e-Business perform their duties electronically, seamlessly across the world through the internet and via intranets which have resulted in the explosion of richness and reach of information and knowledge.
Delen, D and S. Al-Hawamdeh (2009). A Holistic Framework for Knowledge Discovery and Management. Communications of the ACM, vol.52 (6): pp.141-145
Drew, S. (Jan. 1999) Building Knowledge Management into strategy: Making Sense of a new Perspective, Long Range Planning vol. 32 (1): pp. 130-136
King, W.R, Marks, P.V., and McCoy Scott 2002. The most important issues in knowledge management. Communications of the ACM, vol.45 (9): 93-97
Stahl, G. and Fowler, G. (2009) Corporate News: Amazon Shares Hit Record As Profit Triggers Frenzy, Wall Street Journal. New York, N.Y.: Oct 24, 2009. pg. B.5