World Bank Knowledge Management

Video conferencing has revolutionized how business is done today. It allows two or more people in different locations to communicate simultaneously through two-way audio and video transmissions. It allows video collaboration of the group thus helps to provide the company with a high return on investment while keeping operation costs as low as possible. Today, there are low cost video conferencing systems that use features such as video compression and powerful processors. There have been vast improvements in the quality, ease of use and availability of video conferencing technology which has greatly influenced the ability for people to interact and share content thus enabling the meeting to go on as if all members were in the same room ADDIN EN.CITE Firestone200744(Firestone, Ramalingam, & Fry, 2007)44446Firestone, S.Ramalingam, T.Fry, S.Voice and Video Conferencing Fundamentals2007Indianapolis, IndianaCisco Press9781587052682http://books.google.co.ke/books?id=1nQcAAAACAAJ( HYPERLINK l "_ENREF_3" o "Firestone, 2007 #44" Firestone, Ramalingam, & Fry, 2007). The Management Group needs to embrace video conferencing technology in order to be able to keep in touch with their clients, company representatives and board of directors with ease

People can place ideas on platforms and these will progressively be modified or rejected but overall knowledge sharing is encouraged (Mpindiwa 2010). Cultural change is critical in the effectiveness of the intranet as a knowledge management tool and organizations can achieve this through the involvement of its staff in design and implementation of the platform, which will promote the culture and drive to use the intranet and hence lead to better knowledge acquisition (Oyekan 2007).

Organizational Design - Mrs. Mary Doe must educate the company in the use of the new software so that the bank ultimately benefits in terms of bottom-line results and to use the software to identify those sectors of business in which the bank does exceptionally well so that better and more focused strategic decisions can be made. The software, although difficult to implement, has proven to be very useful in institutions with postures of

Banking technologies allow for online transactions, standing orders and the use of ATMs to make bill payments. Cardholders of some banks may use others ' free of charge and the banks themselves are becoming more open-plan, providing easy access to business

To facilitate the process of achieving this goal, JKB has strategic partnered in different capacity with various organizations. A good example is the selling of its 4.8 million shares, an approximate 4.8% of its market capitalization, to Odyssey Reinsurance Company, a strategic foreign investor. The investor possesses financial capabilities and competence needed to push the bank forward. Similarly, its partnership with Microsoft Jordan was also another strategic move worth noting. The partnership guarantees the bank continuance support and consultation on key technologies that are effective in supporting the bank’s activities. Adopting, integrating and aligning technology with the business strategy of an organization has been regarded as an essential source of organization’s competitive advantage. The role of technology in IT has particularly been emphasized (JKB 2011; Zawya 2011; Betz 2001).

The main concept of this report is to discuss the concept of knowledge management and identify the existing knowledge reservoirs in World Bank. I will be focusing on Knowledge in people, Knowledge in artifacts and Knowledge in organizational entities. After that, I will be discussing the classifications of knowledge management in World Bank by using explicit or tacit knowledge, declarative and procedural knowledge and general, contextually specific and technically specific knowledge. Furthermore, the infrastructure used to support knowledge management will be discussed followed by knowledge management solutions. I will be discussing some challenges and giving some recommendations to be followed by knowledge management officer.

Although initially Senior Management focus was solving business related efficiency problems, their center of attention change when the Worker’s Compensation Board Senior Executive committee agreed on the Electronic Claim File system project. If the project was to succeed, its company’s three pillar approach was to be centered on its 1200 employees. At a recent SPE forum, it was determined that some 25% of select E&P projects do not meet their target goals, and that 80% of the failures were attributable to "the human factor" (Caldwell and Winkler, 2001). The core of the organizational knowledge management system is the people. This component includes all the organization's stakeholders – employees, owners, customers, suppliers and regulators/legislators. However, employees are the most significant participants. They are the key source of the intellectual capital acquired and managed by the knowledge management system (Meso, Smith (2000). Even in an age when the internet has dramatically changed the structure of commerce on so many levels; quality, talent and security of people still make all the difference. People not technology drive the success of a business. Future technology will change to meet the need of the society. A company's most valuable resource is its' employees. Corporations invest millions of dollars in attracting, compensating, educating and retaining

In a knowledge organization there is little “machinery” or tangible assets other than the employees. Employee competence is the muscle behind the people and the computers.The knowledge that employees bring to the table in ability and competence, if not expertise, must be considered intangible assets.

We can be the main force in the world of organizations if we are willing to be more accessible to the power of our field, but to do that we must begin to understand and build our skills with the essential concern of how to deal with

The banks can become technology providers by spinning off technology resources to start up new business streams, they can become content providers for information regarding products, indices etc, they can become context providers for setting-up e-market spaces, and also enablers by providing back bone systems to support multiple payment system alternatives.

Knowledge management is critical to organizations. According to Gregory R. Wenig, knowledge management is consists of activities from its own experience and from the experience of others, and on the judicious application of that knowledge to fulfill the mission of the organization. In my point of view, I think that knowledge management is performed by organization to appropriately handle, distribute, and transfer assets of knowledge, experience, and ideas from individual

New and original technology may be created, but how can a person or group of people can implement or utilize the technology to try to maximize benefits as best as possible is the question that first needs to be analyzed. Researchers developed a process approach to how technology will be implemented to be used properly by people with minimal costs. The processes used in this approach are known as socialization, commitment, reward allocation, feedback, and redesign, all of which is a long, complex protocol to ensure that the technology is not used improperly or mishandled enough to warrant danger. In addition to the technology being implemented, organizations and businesses will be vigilant in knowing what technology is being created so they can invest in new technology for a competitive market position, to try to gain the upper hand over other organizations. The implementation process accounts for this as well; businesses are always striving to make more money and sometimes when new inventions or innovations are made, they may cater to the market in appeal so to make money. The imperative issue of how technology will be fully realized in its utility as time goes on, giving people more choices in what they want. Technology may be used for seemingly a vast variety of reasons but knowing how to fully utilize it is the real undertaking that should be considered and dealt with. Moreover, the idea of an approach in how to implement technology is important as well, as new technology

Knowledge is an intangible asset for any organization, composed of both a tacit and explicit aspects that are developed in a continuum throughout the life of a organization (Nonaka, Krogh, 2009). This process can serve as; a competitive advantage, creator a superior financial value, enhancer of creativity, developer of novel products or techniques, or functioning as a transformational vector inside a corporation. Being a collective and individual activity working through socialization, externalization, combination, and internalization (Nonaka, Takeuchi, 1999), tacit and explicit knowledge are merging and interacting in the development of organizational knowledge creation (Nonaka and Krogh, 2009). This process is crucial for the improvement

Knowledge is defined to be facts, information, and skills acquired through experience or education. There are two categories that fall under knowledge; personal knowledge and shared knowledge. Shared knowledge refers to what “we know because.” It can also be defined as communicated and constructed knowledge; within culture, social norms, and semiotics. Personal knowledge refers to “I know because.” An expanded definition of personal knowledge refers to personal experiences, values, and perceptions. Shared knowledge changes and evolves over time because of methods that are continuously shared. It is assembled by a group of people. Personal knowledge, on the other hand, depends crucially on the experiences of a particular individual. It is gained

Despite the negative connotation that ignorance has held throughout various time periods in history, there are moments when lack of knowledge has been extremely beneficial in the formation of new tools and technologies. Consequently, if there is no ignorance present in a situation, there is no way to ameliorate that ignorance into knowledge. Knowing the extent of one’s own knowledge can sometimes make a person wiser (Plato 429 BC). Furthermore, being aware of the limitations of one’s own knowledge should stimulate the desire to learn, due to humans being naturally curious creatures. Knowledge is something obtainable to everyone, only varying because of the various cultures and perspectives that exist worldwide. However, people sometimes refuse to expose themselves to divergent ideas because of their own knowledge that they perceive to be true, ceaselessly.