Critical Evaluation of the Benefits and Limitations of Using Ict in Knowledge Management Processes

In a modernized and globalized world, knowledge creation and synergization of knowledge in an organization is truly crucial. As data and information are readily available, and information communication technology (ICT) has highly advanced, organizations such as B&Q need to understand how knowledge creation can assist to improve internal and external processes and also encourage innovation.

Knowledge is considered as one of the most important and competitive resource for sustenance of the organisation (Zack, 1999). It can be compared to the strategic resource that can be used and applied in various frames of the organisation. Experienced managers in the organisations believe that company can receive strategic advantage through knowledge and not the strategies or actions implemented by competitors. Knowledge can be regarded as a strong approach that opens numerous ways of success. It is that weapon that help organisation to evaluate solutions in financial and other professional difficulties.

Volumetric flask, a transparent laboratory glass wares with a round or pear-shaped, flat bottomed, thin and long neck with a fitted stopper in the mouth. The volumetric flask with a flat bottomed is to set onto the laboratory desk and prevent it to fall down easily. The basic information about the volumetric flask can be known by observing the neck of the flask. For instance, the volumetric heat capacity, class of the glass, calibrated mark and others. The calibrated mark is a mark which establishes the maximum volume of the liquid in the flaks.

In order to manage knowledge successfully, it is essential to clarify the essence of knowledge before identifying the importance of knowledge management. The perception of knowledge has been varied broadly; however, one of the generally accepted defintion is from Davenport and Prusak (1998). According to their points of view, knowledge is defined as a set of experience and values, it either comes from individuals ' mind or roots in the organisation, which can be found in the documents, routines, practices and norms, and is assumed to flow between individuals through various networks, being used to assess and embody new

Knowledge management assists in renewing, developing, transferring, and sharing knowledge. This is based on produce value, economic wealth, and organizational performance. (Becerra-Fernandez & Sabherwal, 2010) This process creates value from its intellectual and knowledge based assets. Knowledge management leverges knowledge within an organization to provide a competititive edge. The fuctions within knowledge management acheives the goals of an organization to acquire additional knowledge within its operations to

Knowledge management refers to organising and sharing the various forms of business information created within an organisation (Marakas and O’Brien 2013). Knowledge management is important as it increases the capability of a firm to learn from its environment and to incorporate knowledge into its business processes (Laudon & Laudon 2014).

It also includes insight about information pertaining to the company’s history; customers; vendors; processes; stakeholders; and all other information that might have value for a competitor that, perhaps, is not common knowledge.  Intellectual capital is therefore, not only organizational knowledge, it is also industry knowledge.  It is the combination of both cognitive knowledge and intuitive/experience-related knowledge. Intellectual capital is known for creating innovation and competitive advantage in this knowledge based era. But knowledge management plays a dominant role in obtaining, growing and sustaining intellectual capital in organizations which implies that the successful implementation and usage of KM ensures the acquisition and growth of Intellectual capital.

The authors claims of the study of knowledge management is about introducing change within a procedure which in turn is a way to back up the alliances of the projects and provide corporate sustainability. However, the study ended up being somewhat restricted because of

The ever increasing importance of knowledge in contemporary society calls for a shift in our thinking concerning innovation in business organisations – be it technical innovation, product or process innovation, or strategic or organizational innovation. It raises questions about how organizations process knowledge and, more importantly, how they create new knowledge. Innovation, which is a key form of organisational knowledge creation, cannot be explained sufficiently in terms of information processing or problem solving. Innovation can be better understood as a process in which the organisation creates and defines problems and then actively develops new knowledge to solve them (Nonaka 1994, p. 14). Davenport and Marchand suggest that: “whilst knowledge management does involve information management, beyond that it has two distinctive tasks: to facilitate the creation of new knowledge and to manage the way people share and apply it” (Davenport &

This report looks at the use of Knowledge Management (KM) and Innovation as a strategy in an organisation and how organisations have adopted the concept and principles behind the Knowledge Management theory and implementing them into the organisation to measure the successful delivery of the strategy.

Knowledge management system normally acts as a future development planning of any organization (Neeharika, et al., 2013). It develops the system through which the information, knowledge, techniques and methods are shared with the external and internal stakeholders of any organization (Agrawal, 2014). This sharing of knowledge act as a base for the future development and progress of any organization (Gandini, et al., 2014).

A knowledge is defined as a valuable intangible resource that need to be managed properly in order for an organization to gain advantage over their competitors, Birkinshaw and Sheehan (2002); Zyngier (2006). Knowledge transfer emphasized as “the movement of knowledge within the organization, it is a distinct experience not a gradual process of dissemination, and depends on the characteristics of everyone involve”, Szulanski (1996).

The research has shown that use of knowledge management can help in understanding the performance in the organizations and (Davenport and Prusak, 1998). Other more recent studies like done by Fugate et al. (2008) and Huang and Chen (2009) also have talked on the importance of knowledge management systems and their positive effect on organizational performance.

The tacit knowledge approach highlights understanding the sorts of knowledge that individuals in an organization have, moving people to transfer knowledge within an organization and managing key individuals as knowledge creators and carriers. One of the significant capabilities of competition is managing perceived intangible assets such as knowledge in organization. Besides managing this intangible asset of enterprises, another vital issue is considered as diffusion of knowledge within the organization. Knowledge resources can be divided into at least two different components depending on the possibility of structuring and coding the knowledge. The possibility to code and the externalization of knowledge is of essential importance to the diffusion of it according to some researchers, while other again considers the codifying unnecessary or of minor importance. Structured knowledge is often diffused by different systems for storing and sharing knowledge and today there has been much scientific interest in the technology of these systems. The most important feature of the tacit knowledge approach is the fundamental principle that knowledge is basically individual in nature and is

In this Era of Technology, many organizations mostly make use of two knowledge management strategies, they are explained below: