The paper "Enhancing Organizational Performance at Westfield Group" is a great example of a case study on management. Westfield Group is the world’ s largest retail property by equity market capitalization, the company is listed at theAustralian Securities Exchange offering different services diverse services touching on varied sectors of the economy, such as Property Management, Marketing, and Leasing Activities, Property Development, Design and Construction Activities, and Funds/Asset Management Activities. Knowledge utilization in the organization has faced sundry challenges due to the diversification of the company’ s services and internationalization, these challenges are: - 1.
The group has several services and departments; knowledge generated in one department may not be accessed by other persons working in different departments or distantly located offices. 2. The company relies on value creation through operational level intensive management and a strategic development program which is aimed at persistently improving the quality of the portfolio, capital growth, and income generation for investors. The operations and survival of the company are exceedingly reliant on knowledge, where its employees have to continually make decisions; however, employees lack reference points on decision making, due to the unavailability of data on previous decisions in similar situations. Knowledge management in the Westfield group is performed by the human resource department, where knowledge management is not given any special consideration but is treated as part of the learning organization.
The concept of the merger of Knowledge management objectives and organizational objectives has not been appreciated in the Westfield group; therefore knowledge management has received minimal consideration and support. The relationship between Knowledge management and organizational performance has been a subject of several studies and publications. Organizational performance in terms of profitability can be influenced by knowledge management strategies that the organization pursues.
Effective utilization and appreciation of knowledge as an important organizational resource contribute positively to organizational performance since knowledge is imperative in the realization of strategic competitive advantage, constant organizational improvement, creativity and innovation, knowledge and information sharing as well as the integration of the organizations’ operations.