Information Systems & Financial Modeling - Strategies & Benefits of Implementing Knowledge Management

As there is rapid growth in the business sector and information technology in the global market there are many factors which has to be managed and changed with the time in order keep up with the growing technology and knowledge management is one of those important factors. The term knowledge management throws light on the procedure of how knowledge is used in an organization. Thus it includes

Knowledge Management can make a significant difference between ongoing or successful ventures of any organization in a world of accelerating change. Knowledge Management provides the ability to connect and cooperate complex ideas efficiently and can be beneficial even to expand when using strategic alliances. To make Knowledge Management work in an

A report has been written describing the knowledge management systems and reviewed based on various aspects which was used to determine whether or not the system considered could be used for managing knowledge. It was through researching journals, articles and other reliable sources from the internet this review was written which led to me finding out more on the topic of knowledge management which has considerably increased my understanding of the topic

In the mid-1990’s, owing to the already widely used internet and the shiftsin business environments, reuse of knowledge has become one of companiescompetitive advantage, because having learned from the past, they are minimizing the chance of committing the same mistakes twice or learned what could have done to maximize benefits. Knowledge management has become an important function for success. As a result KM has

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

Organisational learning can be seen as the goal of knowledge management and may be obtained by good knowledge management strategies and processes. By motivating the creation, dissemination and application of knowledge, KM initiatives pay off by helping the organization embed knowledge into organisational processes so that it can continuously improve its practices and behaviours and pursue the achievement of its goals.

Knowledge Management (KM) can be defined as a deliberate, systematic business optimization strategy that selects, distills stores, organizes, packages, and communicates information essential to the business of a company in a manner that improves employee performance and corporate competitiveness.

The main objective of this report is to design a knowledge management (KM) system for the Bank of Greece. This KM system is assembled of many different components, which work together in a coordinated flow and can contribute to the bank’s successful implementation of a new business environment. First, the opportunity related to a new virtual environment is described. Next, a solution is offered for how the bank should develop its culture and share knowledge within the organisation to improve its working environment. Knowledge creation methods and strategies for delivering the captured knowledge using a delivery interface are given. Further, KM roles and responsibilities are analysed to divide the workload within the

Knowledge management is set of practices aimed at discovering and harnessing an organization 's intellectual resources-fully use the intellects of the organization 's people. Knowledge management is about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization: people 's expertise, skills, wisdom, and relationships (Bateman, 2009). Knowledge management allows more employees to be involved in the decision making process of the company. In the roofing and sheet metal industry knowledge management is very important in the success of the organization.

Knowledge management is defined as the productive handling of information and resources within a firm for best decision-making process (Jashapara 2010). The main objective of knowledge management within an organisation is to enhance performance by empowering personnel to obtain, share and employ their collective information in order for them to make the right decisions when required (Sokhanvar, et al., 2014). Knowledge management entails more than technologies used for tracking or sharing information, it is also about creation of practice, developing trusted content and forming networks within and outside the organisation. In order to understand about an organisation’s knowledge management practice, one needs to understand the organisational structure in which it is found. Some organisation’s culture dictate the manner in which people interact and collaborate as regards to information is handled for the success of the organisation. Such organisations indoctrinate their employees on the value of knowledge and the significance of collaborating with each other. In addition, such organisations have support structures that facilitate this process such as mentorship programs. On the contrary, that do not act on their resources and information because they do not have mechanisms that support networking, collaboration and sharing of information. This consequently leads to a situation of negligence by the employees and to the detriment of the organisation. The paper

Knowledge management is described as the capability of a company to research and develop new technology, disseminate it with purpose and under control, apply it on the products, services and systems. [1]

Knowledge Management is an organization’s methodology of making their intellectual assets as fully functional, or effective as possible. This is a systematic approach organized to enhance understanding. It’s the managing of information in a way that provides an organization with a competitive advantage.

Knowledge management, which is defined according to Rastogi (2000) as a systematic process with “activities of acquiring, creating, storing, sharing, diffusing, developing, and deploying knowledge by individuals and groups in pursuit of major organizational goals”(p. 40). Furthermore, knowledge management provides a suitable platform for an organization to expand its information infrastructures (Thang Le & Fillion, 2007). With technological advances and the rising tech savvy consumers more and more organizations are implementing knowledge management systems from business firms to health care. However, in order to have an effective knowledge management system is dependent on various tangible as well as intangible factors such as on the type of manager, an administrator, the working staff, and technologies involved (Stromquist & Samoff, 2000).

The process of collecting, transferring, storing and making information useful is also known as knowledge management. In this, the organization is enabled to grow, adapt to changes and meet customer demands. The information age has a most certain influence on how the organization manages knowledge. This is true of whether that knowledge is unique to the organization, or shared to external organizations. Today there are various ways to collect and compile data and turn that data into useful information; however, without the use of knowledge management, then data, information, and knowledge is lost or misused. Through the knowledge management process the organization has the ability to learn as an organization. This is

Knowledge management is a term and a concept which began in the early 1990s. Despite the popular notion that knowledge management only began as a practice with the rise of technology, it has been around as a concept for around 15,000 years. At that time in history, merchants, artisans, doctors, and others first began writing down their knowledge for future generations. In Mesopotamia, roughly 5,000 years ago, people began to have difficulty keeping track of all the clay tablets on which information was written and created the first organized knowledge management solutions, the library (Bergeron 2003). Over the years, even as human advanced technologically, the idea of knowledge management remained. Since the idea of knowledge management arose as a management idea in the 1990s, it has undergone several changes in definition as ideas have changed. First, in 1994, it was defined as “the process of capturing, distributing, and effectively using knowledge.” While this was a very straight forward definition, it had the disadvantage of not including any mention of the human element. Thus, in 1998, the definition was changed to be “a discipline that promotes an integrated approach to identifying, capturing, evaluating, retrieving, and sharing all of an enterprise’s information assets, which may include databases, documents, policies, procedures, and previously un-captured expertise and experience in individual workers.” Finally, as technology has created more of an element of