Knowledge Management: Making it Work
Introduction
Because of the rapid growth in competition and the changes in the business environments, the business leaders and executives in the organization are equipped with the management tools that they can use in their respective businesses. These tools are also the result in the aim of the businesses in lessening the economic worries and achieve the competitive advantage in the long run.
Background and Problem Statement
The 2009 survey by Bain & Company of management tools and trends lists knowledge management as a tool that 76 % of respondents use. However, only 3.66 % were satisfied with the use of this tool – this is one of the lowest satisfaction rates among all tools list in the 2009 survey. The identified top ten tools that are part of the survey are the benchmarking, strategic planning, mission and vision statements, customer relationship management, outsourcing, balanced scoreboard, customer segmentation, business process reengineering, core competencies, and merger & acquisitions. All of the management tools are believed to deliver the improvement in the organizations and create a great impact which can positively reflect in the functions of the entire organizations. The management tools that are part of the survey are part of the management’s knowledge in coordinating the systematic approach as their answer with the continuous demand and other challenges. However, the low satisfaction level according to the survey delivers an impression that the top tools are not that effective as before. Then, what would be the other ways in making the knowledge management be more effective and appropriate in times of changes?
Research Aim and Objectives
The main aim of the study is investigate the low satisfaction levels as indicated in the survey done by Bain & Company. In order to collect the necessary information that can be utilized in the study, there are four objectives that should be considered. First is by surveying other literature based on the subject. Second is to determine the strategies that the successful leaders or executives used to effectively manage the tools. Third is to recognize the changes that can affect the effectiveness of the tools. And fourth is through suggesting ways and means to make knowledge management more effective.
Literature Review
Based on the fast-changing goals and priorities of the business leaders, the tools used are discussed to achieve the objectives of each organization. The long-terms plans of the executives are based on their assessment regarding the problems that affects the performance of the business. For an instance, in the issue of cost-cutting, the Benchmarking and Outsourcing are recognized. With those tools, the organization can anticipate the outcome of their knowledge investments (Rigby & Bilodeau, 2009). Because of the plans and actions implemented in the organization, the specific tools can be highlighted. Most of the time, the management tools are utilized to finish a project according to the limited time and budget or search for the innovative ways to remain competitive and fruitful in the market. The only problem is that, the organization in every parts of the world is affected by the global changes and thus their focus remains in protecting the firms’ profit margin.
Basically, the companies paid importance on the various practices, such as the involvement of the strategies and techniques through the use of the available resources (e.g. computers and information technology system) and they are looking for the potential that can improve the overall performance (Nickols, 2000; Shimemura & Nakamori, 2002). The tools that are implemented in the organization allow the people to connect, communicate, and collaborate toward the success of the business. Meeting the objectives of the company is possible in the application of the knowledge in the management. However, the competency of the identified tools are slowly diminishing that the executives are looking for other alternatives.
Methodology
The method used in the study is through the secondary data which means by collecting the past survey that are not 5-7 years old. The other materials that can be use are the academic contexts that are widely used by the business management students and other case studies featuring the tools in knowledge management. By utilizing the said materials that can be found in libraries or online libraries, the study can thoroughly investigate the changes that affect the management tools. In addition, the study can clearly identify the literature gaps and reasons for the tools that are said to be not that much helpful. In the end, the study can analyze the gathered information and produce recommendations to improve the management tools.
References:
Nickols, F., (2000) The Knowledge in Knowledge Management, The Knowledge Management Yearbook 2000-2001 (pp. 12-21) [Online] Available at: http://home.att.net/~nickols/Knowledge_in_KM.htm [Accessed 16 September 2010].
Rigby, D., & Bilodeau, B., (2009) Management Tools and Trends 2009 [Online] Available at: http://www.bain.com/bainweb/PDFs/cms/Public/Management_Tools_2009.pdf [Accessed 16 September 2010].
Shimemura, E., & Nakamori, Y., (2002) Information Technology and Knowledge Management [Online] Available at: http://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN020324.pdf [Accessed 16 September 2010].
Credit:ivythesis.typepad.com
0 comments:
Post a Comment