The paper “ International Institute for Education Excellence and the Role of Knowledge Sharing for Creating New Knowledge and Companies’ Competitive Advantage” is a worthy variant of literature review on the management. In this paper, the focus will be on the International Institute for Education Excellence (IIEE) joint venture. At first, the IIEE joint venture was successful, wherein they implemented a simple, but a strong governance structure with all parent organizations having a member of the board (Wardale, 2014). A number of issues arise from the case; for instance, although all new individuals were highly conscientious as well as capable, knowledge sharing and capture from one position to another were insignificant.
As will be evidenced in the paper, Knowledge sharing is crucial for generating new knowledge so as to realize a competitive advantage and to improve employees’ turnover. As indicated in the case, the issues of strategy, governance, budget as well as business development gradually slipped deeper into the background. Janet Stone after being appointed as the Institute Director in 2012 was shocked to establish that board had not held a meeting for more than a year.
Even though there were some exchanging of emails and action lists had not been drawn up, actions nor had neither resolutions been embarked on since the end of 2010. Besides that, the joint venture agreement that stipulated the number of times the board was to meet had expired early in 2011 (Wardale, 2014). Actually, the IIEE was offering services as well as getting money while it was no more a formalized entity. Regrettably, IEEE had no operational plan, strategic plan, and business development plan. Furthermore, when Janet began working at IIEE, it had just one major client, one suitable program, the JV agreement was not legally registered, the company had high staff and with no clear future (Wardale, 2014).
Nowadays, the majority of managers consider knowledge as a strategic asset, and they have espoused numerous knowledge management programs to proactively and explicitly harness as well as exploit their organizations’ intellectual resources. Still, in spite of the potential strategic advantage attributed to the development and application of knowledge, numerous knowledge management projects these days are not explicitly in line with the competitive strategy.
The concept of strategic planning is undoubtedly crucial for business success. The paper will discuss key issues facing IIEE, and provide a literature review of the key concepts associated with the highlighted issues. DiscussionThe legal team representing the organizations in the IIEE JV disagreed with the board members on the essence of joint decision making, collegiality, as well as mutual profitability (Wardale, 2014). As mentioned by Freedman (2009, p. 378), the effective and smooth operation of a company needs a collegiality spirit that both fosters and reflects mutual respect amongst every member of the company.
Collegiality entails a shared decision-making process as well as a set of attitudes that enable members to regard other members as responsible for the company's success. Collegial decision-making allows all members of the team to take part in ways suitable to their responsibility as well as knowledge. In joint decision making, the involved parties must be sensitive to other concerns and must shun acting unilaterally (Freedman, 2009, p. 379). Evidently, IIEE had no strategic plan as well as a clear future strategy, bearing in mind that Strategic planning is crucial for any organization since it offers a sense of direction and highlights measurable goals.