Executive summaryKnowledge management entails the different strategies, methods, practices and ways that have been laid by a particular organization to represent, create, identify and distribute as well as adopt to the experiences and insights observed in the business on the process of its running. Walt Disney is one of the best known entertainment media companies in the whole world. Like any other company, a knowledge management plan is very important. This research paper contains an analysis of the current situation in Walt Disney’s knowledge management. It also contains the recommendation of the issues discovered during the analysis as well as the sustainability procedure. 1.0 IntroductionIn today’s economic status, any business that has to greatly thrive must have a great deal of knowledge management.
The process of knowledge management entails the different strategies, methods, practices and ways that have been laid by a particular organization to represent, create, identify and distribute as well as adopt to the experiences and insights observed in the business on the process of its running (Langhorne, 2003). Theses insights enable the business management to come up with the way forward as far as the improvement of the business operations is concerned.
It has been discovered that many of the business fundamental are changing at a very great and alarming rate. There is a significant change in the intangibles as well as the tangibles assets which are the core areas all these businesses are deriving their competitive power. One of the greatest requirements for any business to stand in the competition platform is the issue of innovation. Any business that is not carrying out innovation in all of its areas of operations is as good as dead.
This is because the technologies and the consumer’s needs are frequently changing meaning that knowledge is a very critical factor as far as the production is concerned. The main aim of this particular paper is to show the current strategies of the knowledge management of Walt Disney Company as well as the ways in which there can be an improvement. There are a number of things that actually leads to the best management of a company as well as evaluation of its progress.
Many are the times changes occur especially in the external environment of the business world which are even unpredicted (Kimiz, 2005). And can easily interfere with the running of the business. This is where knowledge management becomes very important because such issues can easily be arrested before they interfere with the business productivity. 1.1 Advantages of knowledge managementKnowledge management in any kind of business is very important because it is one of the ways through which any business can attain business excellence. There are number of factors that still lead to a slow knowledge sharing and management in the organizations.
They include increase in the turbulence level, growth in the globalization, dispersion geographically and finally the localized movement. There is need for increase in the area of business knowledge sharing. This means that there is need for involving the employees in the process of knowledge sharing through involving them in meeting sharing the objectives of the business (Mintzberg, 1991). Knowledge sharing at each level f the organization is the best tool to enable the business work better.
Apart from the businesses focusing on competition with their rivals, it is also very important for it to think beyond the existence problems and try to improve the company’s ways of operations by ensuring that the employees are getting the knowledge they need especially on what is happening in the market at that particular point. This is where the issue of knowledge management comes in (Gottschalk, 2005). There are a number of advantages of sharing knowledge in an organization which are as follows.