People-focused Knowledge Management - Essay Example

Knowledge Management Student Name Course Institution Date Introduction Knowledge management is the gathering analysis and sharing of knowledge within an organization for the purpose of enhancing the skills and knowledge of individuals within an organization. The process of knowledge management involves the identification of the expertise that is required within the organization for the purpose of achieving the aims and objectives of the company. The process of knowledge management requires a lot of involvement from the employees. Through knowledge management, most of the organizations have been able to remain competitive in the market and hence beating the other companies (Myers, 2012). It is also through knowledge management that most of the companies have encouraged the sharing of knowledge within an organization. This strategy also promotes learning among the employees of an organization. On the other hand, it is important to note that continuous improvement is achieved by an organization and hence wining the confidence of the customers. The process of improving the gods and services of an organization is one of the most important aspects of business. However, knowledge management may be costly to an organization in the initial stages of implementation. The process is however advantageous to an organization despite the cost involved. The paper therefore discusses the importance of knowledge management in terms of ensuring the success of a business organization. Concepts and evaluation of knowledge management The knowledge management involves several concepts for the purpose of ensuring the success of the business organization. One of the most important concepts of knowledge management is gathering of information with regard to the knowledge management. This process involves searching for the relevant information that is required for the process of knowledge management. This process is critical for most of the organizations and it requires a lot planning and research by experts in order to obtain the relevant information. Data entry is also required during the process of gathering information for the purpose of knowledge management. However, the data required during the knowledge management requires a lot of scrutiny. It is for this reason that the information has top be gathered fro certain specific sources. However, it is important to note that information required should be from a wide base of sources. On the other hand, the process of knowledge management also requires the organization of the information. This process is important for an organization and it involves the process of filtering the information obtained in order to use the relevant information. The process also requires the indexing and cataloging of the information obtained. It is also common for the information to be linked to the specific requirement of the company. The aims of gathering the information as well as organizing the data plays an important role for the purpose of enhancing g the process of knowledge management within an organization. The processes are for the purpose of ensuring that the organization has the correct information regarding the knowledge in the company is obtained (Klein, 2012). Refining of the information is also an important aspect of knowledge management. This is done once the data has been gathered and organized. The purpose of refining the information is to ensure that the level of accuracy of the information is increased. The process of refining the information gathered involves the contextualization of the information. This is for the purpose of ensuring that the contents of the information gathered are relevant to the company. The information gathered on the knowledge management also has to undergo collaboration with the relevant situation facing the company. The process of collaborating the information is to establish whether the information obtain is the true reflection of the knowledge within the company. On the other hand, the information has to undergo the process of compacting and projecting of information. This is for the purpose of ensuring that the gathered information can be easily interpreted and hence its use within the organization in terns of knowledge management. The last concept that is applicable during the knowledge management is the dissemination process of the data gathered. This is for the purpose of enabling the access of information within the company. This involves sharing of the knowledge within the company to ensure that the employees are able to utilize the information obtained. It also enables the management of the organization to come up with the necessary action with regard to the knowledge management. The concepts of knowledge management are thus important t in terms of ensuring that the company is able to achieve its goals and objectives (Burton-Jones, 2011). Importance of knowledge management in the success of an organization The decision making process is mainly dependant on the information available within an organization. The knowledge management process enables a company to obtain the information about the knowledge related resources within an organization. This enables an organization to make decisions with regard to the planning of the operations of the company and hence the success of the organization. This is important for an organization for the purpose of managing the knowledge within the organization. It also enables the company to determine the qualifications of the employees who should be recruited in order to add more value to the company. The process also determines the training that should be conducted for the employees. This is an important aspect of developing and ensuring the growth of the company. Research also indicates that knowledge management ids important in terms of reducing the costs for an organization. This is because it leads to the proper decision making process within an organization and hence reducing the wastage of funds for unnecessary roles. In some companies, training is usually conducted at random without necessarily determining the qualifications of the employees. This has a negative impact on the costs of the organization as most of the trainings are very expensive. It is thus important t to note that through knowledge management, an organization is able to maintain and invest in the right group in terms of knowledge management. Knowledge management is thus an important concept as it leads to the success of an organization (Newell, et al, 2009). The success of an organization is dependant on the ways that the way that the employees conduct themselves. The unity among the employees is important for the success of an organization. This is because some of the employees are more skilled that the other within the company. This could be due to the working experience or the academic qualifications. The concepts of knowledge management play an important role in terms of promoting the knowledge sharing among the employees. This in turn leads to the harmony among the employees and hence a proper working mechanism in the organization. Sharing of knowledge is also important to the individual employees of the company. This is because the concepts enable the individuals to gain more knowledge and skills in their areas of operation. It also plays an important role in reducing the costs of training the individual employees by the company. The efficiency on the company is also enhanced through the knowledge management process. This is one of the factors that lead to the success of the company. On the other hand, it is important to note that knowledge sharing plays an important role in reducing the time taken by an organization to accomplish a certain task. The reduction in time taken for the accomplishment of tasks plays an important role in ensuring the success of an organization. This is because it will enable the customers to be attended top on time. Quick delivery of services to customers is important in terms of building the confidence of the customers and hence the success of an organization (Easterby-Smith, 2011). It is also important to note that the success of an organization depends on the team spirit. The process of teamwork is important in terms of ensuring that the members of the organization work together. The knowledge management process is important in terms of enhancing g the teamwork process within the organization. This is achieved through the enhancement of the communication process within the team. It also creates a good and favorable condition for the team members to work together towards achieving the common goal. The time taken to reduce the problem facing a company is an important factor that determines the success of a company. This is due to the complicated nature of some of the problems within the company. On the other hand, it is also important to note that the problems faced by the company may lead to its failure as some of the problems have both economic and financial implications. The management of knowledge within an organization is important in terms of reducing the time taken and hence ensuring that the operations of the company are snot affected. On the other hand, it is important to note that the attitude of the customers towards the company is impacted by the methods of operations of the company and its ability to solve its problems amicably. It is thus import ant to note that the customers will have more trust on companies that solve problems within a short time. The knowledge management policies are thus important for an organization in terms of solving the issues faced by an organization (Fuller, 2012). Project management is an important aspect of success for a business organization. The project management determines the growth f the company and its success in the implementation of strategies. It is thus important to note that the concepts of knowledge management impacts positively on the project management. Through knowledge management, an organization is able to determine the expertise and resources required during the implementation of certain strategies. Project management requires such strategies for the purpose of implementation. This is important for an organization in terms of achieving its goals and objectives. The adoption of the strategies of knowledge management has enabled most of the organizations to put enough resources and manpower in the project management. It has also contributed to the involvement of the experts in the project management process. The customer participation in the company plays an important role in the success of the company. The participation of the company is important in terms of determining the direction to be taken by the company. It determines the success strategies that should be adopted by the company in order to ensure the satisfaction of the customers. It is thus important to note that the concepts of knowledge management aims at involving the customers in determining the products and services that the company should offer. This is achieved through the establishment of the rate of customer satisfaction through the use of the existing knowledge in the company. It thus plays an important role in the establishment of the success strategies for a company (Ruggles, 2012). The profitability of the company is important in terms of determining its growth and development. A profitable company will always achieve its goals and objectives and hence leading to its growth and development. However, a loss making company cannot develop and is bound to fail in its operations. It is thus important to note that the knowledge management strategies contribute to the profitability of a company. This is because it ensures that the knowledge is well utilized within the organization and hence leading to better performance within the organization. The improvement in performance is an important aspect of a company in terms of generating revenue and profit. Realization of the full potential of the employees is an important practice in terms of ensuring that the company is able to generate profit. The concepts of knowledge management play an important role in terms of ensuring that the potentials of the employees are realized. It is also important to note that the morale of the employees is boosted once the company realizes and appreciates their potential. This plays an important role in the growth and improved performance of the company. The management of assets and intellectual properties within the organization plays an important role in the success of am organization. This is also one of the aims and objectives of the knowledge management process. It is through the knowledge management that the organization is able to fully manage its assets through the utilization of the expertise in the company. Knowledge management thus plays a crucial role in the success of an organization and it has contributed to the success of most companies (Wiig, 2012). Conclusion In conclusion, it is evident that knowledge management plays an important role in terms of ensuring the success of a company. The knowledge management process requires a lot of support from the management due to the procedures involved. The procedures may be costly and thus the need for managerial support. On the other hand it is evident that the success an organization is dependant on the knowledge management. The efficiency of the company is also increased through the knowledge management practice. The knowledge management practice within the organization plays an important role in terms of improving teamwork and profitability within the organization. It also plays an important role in terms of enhancing the potential of the employees and hence the improvement company in terms of delivery of goods and services. References Myers, P, 2012, Knowledge management and organizational design, London: Routledge. Klein, D, 2012, The strategic management of intellectual capital, London: Routledge. Burton-Jones, A, 2011, Knowledge capitalism: Business, work, and learning in the new economy, OUP Catalogue. Newell, S, et al, 2009, Managing knowledge work and innovation, New York: Palgrave Macmillan. Easterby-Smith, M, 2011, Handbook of organizational learning and knowledge management, New Jersey: Wiley. Fuller, S., 2012, Knowledge management foundations, Routledge. Ruggles, R, 2012, Knowledge management tools, Routledge. Wiig, K, 2012, People-focused knowledge management, Routledge. Read More