The paper "Knowledge Management in Organisations" Is a great example of a Management Case Study. Changes that ushered in the new dependence on intellectual capital by organizations further elucidated the importance of knowledge workers over technology. In order to be competitive, organizations need to have studied and acquired unique knowledge that can be embedded in its systems and processes leading to production and offer of highly competitive products and services respectively. The role of human resources in knowledge creation and application is completely invaluable. This shows that unless organizations are able to take care of human resources, they are bound to lose the most valuable resource in the current information age.
Tacit knowledge is interred in individuals and can only be shared through socialization, mentorship, apprenticeships, and face to face communications. This makes individual knowledge workers the epicenter of organization learning. For an organization to learn effectively, it is necessary that individual knowledge is codified and made explicit for it to be storable in the databases Organisations capacity to learn and apply knowledge will be reflected in the nature of its knowledge base and service provision. This report will form the basis for the implementation of a knowledge management system for ABC bank.
It proposes the procedures for the establishment of a knowledge plan that will be in tandem with the ABC corporate strategy for review by the management. The proposed knowledge plan will enhance customer service delivery to the clients and increase the learning capacity of ABC bank while availing information for efficient decision making. The review is based on in-depth literature review on different journals on knowledge management consequently making the report well-anchored academically. The relevance of Knowledge management Knowledge management in organizations can no longer be wished away.
Business environment competitive pressures are forcing organizations to fully appreciate creativity and novelty in their strategies, this makes knowledge management a necessity since it is a core pillar for creative and innovative processes (Svetlik & Stavrou-Costea, 2007). Organizations, therefore, should develop systems and infrastructure for enhancing individual knowledge workers' cognitive capabilities as well as general organization knowledge base so as to strategically position itself against the competitive pressures. Cost reduction. Knowledge management an application has been attributed to production cost reduction in most organizations.
According to Spender (1998), today’ s knowledge-driven organizations cannot survive without a strategic low-cost production essential for profitability. With appropriately empowered knowledge workers in the operations management, the potential of developing cost-effective production technologies and plans is high. This makes the enhancement of the cognitive abilities for a knowledge worker a necessity for cost-effectiveness and efficiency improvement (Scholl, Koenig, Meyer, & Heisig, 2004). Increased value for the organization Organizations currently operating on knowledge and information have an edge over their peers still having underdeveloped information systems.
According to Shih & Chiang (2005), the generation of innovative production plans and novelty in product packaging and marketing creates the necessary demand for organization products and services. These capabilities are founded on knowledge management plans and will ensure high profitability for the organization necessary for increasing value attributed to various stakeholders.
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