Information and Knowledge Management in Wal-Mart - Case Study Example

INFORMATION AND KNOWLEDGE MANAGEMENT by Student’s Name Name + Code of Course Professor Date Executive Summary Knowledge management has become a very important and strategic process in most companies as it plays a major role in attaining competitive advantage. Successful business organizations have invested heavily on development of internal information and knowledge management endeavors. One of the companies that has benefited from knowledge management is Wal-Mart. Knowledge management is important in Wal-Mart and is related to customer satisfaction. As a result, the corporation has heavily invested in information technology and coined the phrase “knowledge colony” to support such investments. The company pursues knowledge management strategies, which has brought about technological investments and consequent improvement in business performance. Implementing knowledge management has enhanced profitability as well as financial growth of Wal-Mart, which has enabled the company to remain competitive in the unpredictable business environment. Introduction –Knowledge Management Knowledge management has become an important concept of organizational knowledge in modern organizations. O’Leary (2002) defines knowledge management as strategies and practices that organizations usually use in order to create enable and distribute adoption of specific experiences and strategic insights. This knowledge is usually embodies in the organization or individual processes and practices. Successful business organizations have invested heavily on development of internal information and knowledge management efforts (Earl 2001). Information is important as it allows organizations to gain an advantage in the modern competitive markets. Most leaders usually face the challenge of acquiring and deciding the best information from amongst the numerous choices and optimizing the information by converting it to practical knowledge through creating action that contributes to the achievement of organizational objectives (Oliver & Kandadi 2006). Those who hold the most business aptitude and those who manage it in the best way possible define organizational success. According to Peter Drucker, in the twenty first century knowledge has power as it directs organization opportunity access as well as development. The day-by-day use of available internet and business technologies in business activities and advanced information in business activities indicate that knowledge management is true reality that organizations are taking advantage of. Globalization has brought about numerous contemporary developments and organizations have the charge of adapting to them as easily, fast and painlessly as possible to stay strong in a competitive business environment. The most important tactical resource is knowledge- Organizational and individual (O’Leary 2002). Through understanding the most important significance of intellectual resources, organizations have started to improve and manage them reasonably. For this reason, the relevance of knowledge management as an organization knowledge idea, meant for useful knowledge application to reach important decisions. In knowledge management, individuals play an important function. Intellectual resources like knowledge make an organization a source of revenue input of goods and services, through reducing operation outlays, creating obstructions to entry of prospective competitors, creating innovation, and boosting customer loyalty (Oliver & Kandadi 2006). An organization success mostly depends in continuous investment in acquiring and learning new knowledge, which improves existing performances, and creates new businesses. Literature Review The unstable business environment, with stringent competition and global trends in the world market has led to considerable changes that organizations are required to establish in their operations (O’Leary 2002). These amends are important for organizational continued existence in the market. Organizations are facing a complex and unpredictable competitive business environment. Novicevic and Jelenic (2008) argued that the global business setting is distinguished by high production, altered business circumstances, increased production, flexible organization structures, and information and communication technology and partnership development. This business environment has sharpened competition in the market forcing organization to develop and innovate novel techniques of boosting product functionality and quality, reduce costs and respond to the progressively more sophisticated consumer demands to survive in the market. The organizations are required to adjust to transformations in the external business situation and make amends in the inner business situation in employee training, improvement, boosting flexibility, increasing competitiveness, and improving business performance and processes. In a “knowledge economy” intangible resource such as knowledge are important in adding value to an organization (Easterby-Smith & Lyles 2003). Modern business practices and processes are seen through knowledge management and hence the key issue entails development of a satisfactory system of knowledge management (Novicevic & Jelenic 2008). The Balanced Scorecard- learning and growth standpoint confirms the importance of information and knowledge transfer in an organization. Its key objectives are boost skill level in performing internal processes, improving information systems, harmonizing organizational and employees objectives among others (O’Leary 2002). To boost and maintain the value of knowledge, organizations have to invest in education as well as continuous training of its employees, set a method of grading the personnel as well as their performance, and promote and reward quality employees (Easterby-Smith & Lyles 2003). The transformation in the business environment, the transformation to a “knowledge economy” as well as the new information age has led to new resources, which organizations apply in business practices. In the industrialization period, value was created through physically transforming tangible assets such as buildings, land, supplies, and equipment into the products. In contrast, the significance of physical “intangible” assets considerably increases and the assets have become a key basis of competitive advantage (Mitrovic et al. 2008). According to Antonic (2005), the international trend has showed that 80% of the company’s value is mostly associated with intangible assets. Knowledge management makes knowledge actionable to organization members. It entails capturing, storing, retrieving, as well as using the knowledge and creation of a knowledge management system. The Knowledge Management system comprises of a business environment, which promote organizational learning. A Knowledge management system is an essential depository for important information, which is critical for tasks undertaken daily by organizational knowledge employees (Easterby-Smith & Lyles 2003). In this respect, knowledge management is a transformation or organizational change tool because it assists the management in creation of a learning organizational setting. In addition, it is a means of boosting organization efficacy, because it promotes the reuse of knowledge in order to improve decision-making. Jennex (2005) noted that knowledge management entails selectively using knowledge from earlier decision-making experiences to up to date and prospective decision-making actions with the key aim of boosting organizational effectiveness. Knowledge Management deals with knowledge and information and addresses knowledge in all its forms-both explicit knowledge and tacit knowledge (Antonic 2005). The key attributes of Knowledge Management are generation of latest knowledge, acquiring important information from outside resources, utilizing available information in making decisions, embedding knowledge in products, practices and/or services embodying knowledge in databases, software and documents(King 2008). Knowledge Management also facilitates increase in knowledge through incentives and culture, it transfers accessible knowledge to other organization parts, and it assists in measuring of knowledge resources value and/or their significance (Easterby-Smith & Lyles 2003). Knowledge management is thus important and benefits most organizations as information is converted to practical knowledge and availed easily in a practical form to the individuals who can use it. One of the companies that has derived benefits from knowledge management to emerge one of the world largest corporations is Wal-Mart Stores Inc. Background of Wal-Mart Inc Wal-Mart Stores Inc is a multinational company based in the US- it runs a chain of large department stores as well as warehouses in 27 countries. Samuel Walton and J.L. (Bud) Walton started the first Wal-Mart retail business in 1962 in Rogers, Arkansas (Wal-Mart 2012). Seven years later, the brothers had opened 18 more stores and also extended their operations to Oklahoma- they incorporated the business ventures as Wal-Mart Stores, Inc. The company begun trading stock in 1970 and in 1972 it became listed on the New York Stock Exchange. The company revenues surpassed $ I billion in 1979, becoming one of the fastest to reach such a high point. The company opened its first Sam Wholesale Club in 1983, they were later rebranded Sam’s club. Wal-Mart launched its first Supercenter in 1988, grocery stores and combined discount outlets. By 1990, the company had become the largest retailer in the US. The company began foreign expansion in 1991 and created a joint endeavor with Mexico largest retailer, Cifra, S.A. de C.V (Wal-Mart 2012). Three years later, the company entered the Canadian market after purchasing 12 Woolco stores. In 1996, the company expanded and opened branches in China. Wal-Mart obtained its first $100 billion yearly sales. The company introduced the Neighborhood Market Format and entered into the United Kingdom market after acquiring ASDA. The company also introduced Wal-Mart, which allows its U.S. customers to shop online. In 2002, the company became No. 1 in Fortune rank of US biggest firms and later entered the Japan and later Chile, India and South Africa (Wal-Mart 2012). Currently, Wal-Mart has employed 2.2 million personnel and serves 200 million buyers every week in 27 countries at over 10,000 stores. It serves its customers in retail outlets, mobile devices and online. Wal-Mart sales for fiscal year 2012 were $444billion (Wal-Mart 2012). Knowledge Management Practice in Wal-Mart Inc Wal-Mart has experienced a rapid growth both locally and internationally since it was established through acquiring stores and expanding to different countries in different continents. It has wholly owned operations in the United Kingdom, Canada, Argentina, and Brazil (Wal-Mart 2012). Wal-Mart also has various joint business enterprises in China and various majority-owned subsidiary in addition to the wholly own international operations. In most of its international stores, it operates under different banners although all of them work towards a similar goal; “to enable their clients to save money and live a better life” (King 2008). Knowledge management is important in Wal-Mart and is related to customer satisfaction. As a result, the corporation has heavily invested in information technology and coined the phrase “knowledge colony” to support such investments. A knowledge colony is anchored in research and information exchange, which is essential to formulate tactical choices in case of a regional basis inventory management(Wal-Mart 2012). The company means include simulations, decision systems, information tutoring, best practice circles, reward solutions, and assessments. As a result, Wal-Mart objective is to support localization in its operating system. It amasses and combines the overt information from clients and interacts with it through its multiple system. For knowledge to be valuable and helpful, it has to be systematized. It should be organized differently based the use that the company will make of it. There are four dimensions of knowledge management according to Addicot, McGivern and Ferlie (2006), completeness, connectedness, congruency and perspective. Recognizing gaps, which exist in a company knowledge management practices, facilitate creation of knowledge. Choo (2002) argues that gaps in Knowledge Management can interfere with decision making and problem solving and hence deter development of new and better products and/or services. Choo developed a model, which necessitates identification and evaluation of alternatives through processing all knowledge and information collected up to date. Wal-Mart has endeavored to develop and foster insightful Knowledge Management skills through focusing its goals, which particularly includes innovation, enhanced business performance, competitive advantage, and constant upgrading of business processes as well as operations (Wal-Mart 2012). Wal-Mart knowledge management includes such significant matters such as discussion forums, formal apprenticeship, mentoring programs, corporate libraries, as well as professional training. In addition, it also uses particular adaptations of such technologies as intranets, computer supported cooperative work, knowledge repositories, expert systems, group decision support systems, and knowledge bases (Addicot et al. 2006). The diagram above shows the basis for decision making in Wal-Mart. Importance of Knowledge Management in Walmart Inc Wal-Mart Inc had made an incredible mark in the retail business sector. The company has put in place an overpoweringly valuable knowledge management program, which has played an important role in the company ability to remain competitive even during harsh and unpredictable economic conditions. The company objectives are being realized all together through rigorously holding on to business objectives and balancing business practices with the economic development. For this reason, economic and competitive advantage from constructive knowledge management approaches is attained all through (King 2008). Wal-Mart knowledge management approaches have facilitated the company to concentrate its tactical business operations into reducing operation costs and increasing value for the company shareholders. According to Alavi and Leidner (2001), knowledge can be categorized into 3 wide types, that is shared, public, as well as personal knowledge. Shared knowledge is knowledge which employees wholly and which is just used at work. Public knowledge is accessible through public domains like books or the internet. Personal knowledge is not easily available and is mostly applied in daily life and work. Wal-Mart knowledge mostly falls in the shared knowledge category (O’Leary 2002). Wal-Mart has been successful in nurturing and developing vast productivity through focussed differentiation. The company is currently leading in the retail business industry in the US and internationally. Nonetheless, it has encountered many challenges in its endeavor to introduce a number of knowledge management strategies. Alavi and Leidner (2001) note that the corporation organizational growth is significantly overridden by change management analysis. In Wal-Mart, useful knowledge management practices have resulted from its launching of huge financial returns on yearly production. The positive and important tendency has dominated every key store associated with Wal-Mart in different parts of the globe (Wal-Mart 2012). The company retail stores are currently best for organizations, units, as well as businesses at the current worldwide era. Enhanced employees’ skills, which is one approach of facilitating helpful knowledge management in Wal-Mart has proven exceptionally effective in counteracting issues that have threatened the company general undertaking (O’Leary 2002). Wal-Mart reliable as well as effective knowledge management proficiency has improved effectiveness in customer care, service delivery, and development of greater competition. Currently, the company sees achievement or failure of its operations as a product of employee efficiency. The company manager’s intellectuality concentrates on supporting the employees through the transformational leadership approach. Wal-Mart facilitates language of its workers diligence, dependability, as well as good manners and this has considerably ensured long service by the workers while doing their work roles (Wal-Mart 2012). Adequate knowledge management in Wal-Mart has allowed effective resolution of every matters pertaining to organization conduct, processes, and has facilitate the company to make decision, and discover issues, which hinder its advancement. Application of Knowledge management in Wal-Mart Local, National & International Branches Knowledge Management is usually mostly evident in the human resource strategies that Wal-Mart applies. The strategies encompasses the way the company selects, recruits, nurtures and trains its workforce for delivery of services and effective performance (O’Leary 2012). Different organizations usually implement different human resource strategies in order t achieve different goals (Easterby-Smith & Lyles 2003). Wal-Mart has put in place effective human resources approaches, which has enabled it to out in place policies for managing its huge human resources. Its use of effectual human resource management approaches has led Wal-Mart to receive a lot of recognition in the US and internationally (Wal-Mart 2012). As a fundamental aspect of knowledge management, the company human resource management approaches are applied mainly to facilitate the company and its huge range of divisions direct their decision-making actions through synchronization of worker-allied practices. The useful application of such approaches has led to increased returns and has reduced the corporation financial risks (Easterby-Smith & Lyles 2003). This has mostly been realized through putting together skilled employees with the company workforce at hand. This usually corresponds to Wal-Mart future business requirements and plans for ensuring its potential productivity and continued existence. O’Leary (2002) notes that the organization puts in place human resource approaches considering the existing state of its current business operations and its potential objectives as well as goals. The human resource management approaches used mainly determines the success of any company particularly in the knowledge management field. As a result, human resources management approaches engage individual power to inspire and persuade others towards realizing the goals and objectives of a company. The management in all the Wal-Mart stores encourage their employees to reach the organizational goals and objectives and out-do their competitors (Wal-Mart 2012). The leadership usually interacts with the employees daily and provides directions individually and within teams, various divisions and departments. Wal-Mart also has a sound and effective management, which has predominantly helped the company to reach its objective and remain competitive (Wolpert 2001). Valuable human resources management has thus largely led to knowledge management redefinition in the company. The company has made considerable progress in effectual human resource management has led immeasurably to knowledge redefinition with regard to restructuring its long-term objectives in order to have a better chance of realizing its goals and remaining competitive (Easterby-Smith & Lyles 2003). Nonetheless, Knowledge management in Wal-Mart surpasses the conventional HRM function of training and development. Knowledge management across all the company stores integrates human resource directly into the company value-adding process and practices- it creates organizational capacities that are directly linked to particular sources of value creation (Addicot et al. 2006). For instance, the company point-of-purchase inventory- management system technology has mostly by some stores, however its knowledge management practices has enabled it to more effectively exploit the data such a system offers. Individual store managers throughout their network use the data to make informed local choices about marketing, purchasing, displays and so forth in order to capitalize on the information resource. Human resource management play an important role in assisting Wal-Mart employees use the knowledge availed by the technical system effectively in order to make faster, better and more locally sensitive decisions, which is the key basis of the company advantage (O’Leary 2002). The other stores, which have adopted the technical system, have not developed the capability of linking the system with HRM and hence the competitive outcomes are significantly different. The difference is in the way the management use knowledge. Therefore, as a knowledge facilitator, human resource management has the chance to have a clear impact on the outcome. Wal-Mart also significantly focuses on the link between knowledge management technologies and processes and the resulting business performance. It has adopted a Real Time Enterprise (RTE) business model where technology does not matter much. The company has set the standard of doing more with less. Schrage (2002) notes that Wal-Mart did not become number one in the industry by investing heavily in latest technologies. The technology applied in Wal-Mart is not the latest in the market and not particularly at the hi-tech frontiers, however when mixed with the company management as well as organization innovations, the impact is massive. The company thoroughly and systematically deploys its technical systems with apparent concentration on its core worth offer of least possible prices for its most customers (Addicot et al. 2006). With this particular focus, the company has set up inventory management and supply chains systems to improve business performance across all the branches in different parts of the continent. This has been made possible by the RTE model founded on the hub-and-spoke truck routes model (Wal-Mart 2012). This model has led to stronger links with suppliers, which heavily subsidizes technology investments costs and pre-commits the partners to the shared systems success. Wal-Mart offers virtual shelf space for its suppliers, which are responsible for stocking the shelves and sustaining their inventories in a just-in-time method. Wal-Mart collects and assembles huge amounts of data to acquire an up-to-date minute view of the global operations and can reach command decisions depending on the data analysis. This approach informs the Just-in-Time knowledge management concept which is also referred to as On Demand Knowledge Management. The utter volume of information and data available to the company make it important to be able to sort through the data mountains to find the knowledge nuggets that are important to important decision-making (Easterby-Smith & Lyles 2003). Wal-Mart Stores has thus embarked on remarkable changes relating to adoption as well as implementation of the best knowledge management approaches. It has found it valuable for it to learn to manage employees as well as business processes in a coherent and well-organized framework, which is evident in the company approach (Zetie 2003). In this manner, every Wal-Mart branch has managed to guarantee that every aspect of employee management is strengthened for the aim of developing and improving business practices. Wal-Mart has defined and developed various knowledge management approaches, which are geared to their targets, performance, aspirations, and objectives. Zetie (2003) argues that all the demands of the stakeholders and players should be taken into consideration in knowledge management. In Wal-Mart, the knowledge management strategies are re-evaluated constantly to make sure that they are in line with the objectives and goals of the company and the condition in the market as well as the globe. Valuable knowledge management has been valuable in defining its objectives and acting as means to assist the workers to recognize their value in the organization and the way to connect with the main goals (Easterby-Smith & Lyles 2003). Knowledge Management Pertaining to Feedback and Communication At Wal-Mart Inc, knowledge management is very useful when it comes to managing conflicts and by itself, a multifaceted method of conflicts resolution has been established. Its intellectual negotiation ability facilitates it to distinguish amid principles, determine prone areas, and discard them. Zetie (2003) argues that self-esteem and ascending principles are the two important issues, which have been properly handled through skewed use of knowledge management in improving efficient communication. Wal-Mart managers in different branches have succeeded mostly because of their capacity to maneuver the employees into undertaking positive changes (Wal-Mart 2012). They are very intellectual in handling set objectives and manage to state the decisions made without essentially courting grievances to various staff. The managers are always all set to protect and guide the employees through offering communicative resources via which the management and staff can distribute their knowledge management understanding. They are also always ready to handle the unexpected issues that the employees raise. Wal-Mart work environment fosters teamwork with more emphasis on future growth (Wal-Mart 2012). Knowledge management practices has allowed Wal-Mart to bring in a novel type of worker motivation which concentrates on retaining employees and giving yearly incentives to best performing workers with more weight on assessments and potentiality in productivity as well as performance (Easterby-Smith & Lyles 2003). As a result, knowledge management in Wal-Mart has significantly been improved by the management, which has always ensured that the employees are treated well and obtain rewards as well as time offs. Wolpert (2001) notes that performance and productivity has been attained by shared accountability of the employees and Wal-Mart manage to balance management roles with international movements in the retail sector. The diagram below shows the knowledge management practices and processes in Wal-mart.  The Extent of Knowledge Management Improving information and knowledge management in Wal-Mart has readily expanded its scope for international gains regarding the company targeted tasks and goals. Projects and assignments in Wal-Mart stores are continuously monitored. Checking the progress of operations systematically brings about high performance and productivity for all employees. Work roles are also fully checked to ensure that the personnel blend for the productivity target. Continuous need for productivity is important for identifying disorders. Wolpert (2001) notes that help in employee performance has considerably increased the appraisal times hence enabling continuous blending between the management and employees. Wal-Mart employees are very competent in the local, national, and international subsidiaries and branches and hence they allow all novel applications regarding knowledge management (Wal-Mart 2012). Performing essential roles on all essential management matters will give rise to superiority in the company thus encouraging all the employees to go up the ladder. Wal-Mart’s Concept Map The key driving force behind Wal-Mart success is its sound knowledge management system. The company frequently evaluates its knowledge management endeavor scope. Wal-Mart actual knowledge elicitation usually takes diverse forms and these can be categorized in direct and indirect forms. The direct strategies for drawing out knowledge take place in cooperation with proficient plans and are effective in knowledge management (O’Leary 2002). The strategies are selected from a wide range of methods; various strategies are based on interviews as well as examination of common practices. The indirect strategies are improved through use or study of relevant information resources. Knowledge management as well as the elicitation process thus leads to the making of concept maps, which are part of the company knowledge models. Wal-Mart concept model is extremely interactive and the interpretation procedure consists of two elements; the creation or editing of aspects, which are a component of the knowledge model and assemblage of the aspects into the ultimate knowledge model (Addicott et al. 2006). When the pre-existing and new resources are completely recognized in the procedure, they are changed to a unique form, which adequately communicates everything, that is required to be known regarding a specific issue in the model and which is appropriate for production along the lines of the preliminary conditions of the initial model of knowledge. Wolpert (2001) notes that in Wal-Mart knowledge model, a complete edited resource set is categorized as synthesized resources and is applied to further knowledge. According to this model, verification process takes place at the mechanical and conceptual levels and allows for assessment that every required aspects can be found in order for the connection to work and the media to display appropriately (Alavi 2001). Conclusion Knowledge management practices play an important part in Wal-Mart at the local, national, and international level especially about technology development as well as its consequent implementation. The company pursues knowledge management strategies, which has brought about technological investments and consequent improvement in business performance. Implementing knowledge management has enhanced profitability as well as financial growth of Wal-Mart, which has enabled the company to remain competitive in the unpredictable business environment. Wal-Mart has heavily invested on knowledge management endeavors and this has led to increased customer satisfaction, which has translated to huge return on investment. Information is considered important in Wal-Mart as it enables the company to gain an advantage in the modern competitive retail sector. Knowledge has power in Wal-Mart as it directs organization opportunity access and development. The day-by-day use of available internet and business technologies in Wal-Mart activities and advanced information in its business activities indicate that knowledge management is true reality that organizations are taking advantage of. Through understanding the most important significance of intellectual resources, Wal-Mart is able to improve and manage them logically. Its success mostly depends in continuous investment in acquiring and learning new knowledge, which improves existing performances, and creates new businesses. The company adjusts to transformations in the external business situation and make amends in the inner business situation in employee training, improvement, boosting flexibility, increasing competitiveness, and improving business performance and processes. Knowledge usually add value to Wal-Mart and most of its business practices and processes are seen through knowledge management and hence the main challenge for the management is developing a satisfactory system of knowledge management. Knowledge management boosts skill level in performing internal processes, and synchronizes organizational and employees objectives in Wal-Mart. Wal-Mart invests heavily on education and continuous training of its employees through human resource management practices. The Knowledge Management system established in Wal-Mart promotes organizational learning and assists the management in creating a learning organizational setting. In addition, it boosts the company efficacy, because it promotes the reuse of knowledge in order to improve decision-making. The company knowledge management means include simulations, decision systems, information tutoring, best practice circles, reward solutions, and assessments. This enables Wal-Mart objective to support localization in its operating system. It amasses and combines the overt information from clients and interact with it through its multiple system. Wal-Mart has invested heavily in development and fostering of insightful Knowledge Management skills through focusing its goals, which predominantly includes innovation, enhanced business performance, competitive advantage, and constant upgrading of business processes as well as operations. Wal-Mart knowledge management includes such significant matters such as discussion forums, formal apprenticeship, mentoring programs, corporate libraries, and professional training. Also, it uses various adaptations of such technologies as intranets, computer supported cooperative work, knowledge repositories, expert systems, group decision support systems, and knowledge bases These adaptations has played an important role in the company ability to remain competitive even during turbulent economic conditions. Reference List Addicott, R, McGivern, G & Ferlie, E 2006, Networks, Organizational Learning and Knowledge Management, NHS Cancer Networks, Public Money & Management, vol. 26, no. 2, pp. 87-94 Alavi, M & Leidner, D 2001, Review: Knowledge Management and Knowledge Management Systems: Conceptual Foundations and Research Issues, MIS Quarterly, vol. 25, no. 1, pp. 107-136 Antonic, S 2005, Knowledge management: A look into our future, University Library "Svetozar Markovic". Infoteka, vol. 6, no. 1–2, pp.77–82. Choo, C 2002, Information Management for the Intelligent Organization, ASIS Monograph, 3ed, Medford, NJ: Information Today Inc. Earl, M 2001, Knowledge management strategies, Journal of Management Information Systems Vol. 18, no. 1, pp. 215–223. Easterby-Smith, M & Lyles, M 2003, The Blackwell handbook of organizational learning and knowledge management, Oxford, Blackwell. Jennex, M 2005, What is KM? International Journal of Knowledge Management, vol. 1, no. 4, pp. i-iv King, W 2008, An integrated architecture for the effective knowledge organization, Journal of Knowledge Management, vol. 12, no. 2, pp.1367–1380. Mitrović, V., Maksimović, R & Tešić, Z 2008, The application of Balanced Scorecard methodology in small business, International Journal - Total Quality Management & Excellence, vol. 36, no. 1–2, pp. 339–346. Novićević, B & Jelenić, D 2008, The future of the cost management in a competitive environment, Thematic collection of papers named: The developing competitive advantage in Serbia in the European integration, Faculty of Economics Nis. 137–146. O’Leary, D 2002, Knowledge management across the enterprise resource planning systems life cycle, International Journal of Accounting Information Systems, vol. 3, pp. 99–110. Oliver, S, & Kandadi, K2006, How to develop knowledge culture in organizations? A multiple case study of large distributed organizations, Journal of Knowledge Management, vol. 10, no. 4, pp. 6–24. Schrage, M 2002, Wal-Mart trumps Moore’s law, Technology Review, vol. 105, no. 2, p. 21 Wal-mart 2012, History Timeline, viewed December 28, 2012, http://corporate.walmart.com/our-story/heritage/history-timeline Wolpert, D 2001, Computational capabilities for physical systems, Physical Review, vol. 65, no. 1, pp. 1-27. Zetie, C 2003, Machine-to-machine integration: the next big thing?, Information Week, viewed December 28, 2012, www.informationweek.com/story/showArticle.jhtml?articleID=8900042. Read More