Essays on Why Authors Are Emphasizing the Need of Doing Knowledge Management Assignment

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The paper "Why Authors Are Emphasizing the Need of Doing Knowledge Management " is a perfect example of a business assignment. Knowledge management is very important in an organization as it enables the enterprise to create, transfer and apply knowledge so that the organizational goals are achieved. Thus, organizational knowledge is created, captured and integrated into the organization system and is available to the users who need it. This consequently increases the efficiency of operations. Knowledge management facilitates the ability of the organization to reduce the tendency of making errors during routine operations, hence enhancing optimal performance.

This is because operations and processes are collective and automated. Similarly, mistakes done in previous are easily detected and autocorrected. Reduction in errors in effect leads to minimizing the cost of repeating procedures and leads to increased profitability of the firm. Knowledge management provides the potential for the organization to expand and grow (Kudyba & Diwan, 2002). This is achieved through integrating new ideas and innovation to the organization and increasing the possibility of the firm to make both physical and virtual collaborations to achieve missing competences.

The productive capacity of the organization is increased and new products invented, and hence have a competitive edge in the market. Knowledge management enables a firm to improve its products and services (Kudyba & Diwan, 2002). New knowledge development increases the organization’ s competence in innovatively converting new ideas into products and services much faster. In addition, products and services are knowledge-based, thus matching the consumer tastes and preferences. Consumers' complaints and suggestions can also be effectively addressed, thus increased customer satisfaction and confidence in the products and services. Question two: The important business processes and outcomes According to the authors, the business process is presented in a three-tier framework: Knowledge management Knowledge management is a process through which an organization acquires new knowledge, processes it and integrates it into the business so that it can achieve its set objectives.

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