Knowledge Management For Decision Making Essay

1746 words - 7 pages

Knowledge Management - A Review
Knowledge has long been considered an intangible asset that can only be passed on from a teacher to his pupils through years of teaching and knowledge transfer. However, present day technological advancements and the increasingly dynamic nature of knowledge have led to the dissolution of the "sacred" teacher-pupil affiliation. Knowledge, now, is more of an entity that can be codified, stored, mined and retrieved as and when required, by any one and anywhere around the world. Albert Einstein's quote, "The only source of knowledge is experience", is now more of an anecdote than reality, as more and more organizations are realizing that knowledge learned from one's experience can be codified, i.e. transformed into knowledge "packets" that can be stored and transferred to others. Business organizations have been the primary users of such codified knowledge, as huge amounts of information runs through the various divisions of an organization, which can be integrated and used for making more profitable, strategic and constructive business decisions. Thus, the need for knowledge management arose, wherein, chunks of codified knowledge has to be appropriately managed for ease of retrieval and use.
The influential paper, "Managing Codified Knowledge" by Zack (1999) is reviewed here. The definition of knowledge and knowledge management, the benefits of knowledge management, the author's rhetoric on the architecture of knowledge management and its importance in modern business organizations are discussed here. This paper also attempts to analyze two case studies presented by the author, and a brief summarization of the author's key findings is also intended.
The author discusses knowledge and knowledge management mainly in the context of business organizations. The key points are highlighted as follows:
I. Knowledge and Knowledge Management
The article reviewed here aims at describing how an organization can configure its resources and capabilities in order to leverage its codified knowledge. Codification of knowledge refers to the conversion of tacit knowledge (such as experience and expertise) to explicit knowledge to make it more accessible and useful for others. The author first introduces the concept of organizational knowledge followed by describing the characteristics of explicit knowledge, its benefits in imparting a competitive advantage to the organization, the design of information products and the appropriate architecture for management of explicit knowledge. Based on this framework, the author further derives two fundamental approaches, namely integrative and interactive, each of which is further exemplified by case studies of successful business organizations.
Zack (1999, p. 2) states, "The concept of treating organizational knowledge as a valuable strategic asset has been popularized by leading management and organization theorists", such as Brown and Duguid (1991), Davenport, Jarvenpaa and Beers (1996),...

Find Another Essay On knowledge management for decision making

Accounting information for decision making Essay

3996 words - 16 pages by the company. From management perspective, the company must cut-cost through out the company in order to increase the profit margin.-EFFICIENCY RATIOThis ratio is to measures the efficiency of the company in using the inventory to generate profits for the company. In General, the lower the turnover (in days) means the company performs better.For Helena Beauty Products Ltd., the company should have very low turn over because the nature of the

A critique of the “NCHRP Synthesis 397: Bridge Management System for transportation agencies Decision Making”

1567 words - 6 pages in order to get credible information. Furthermore, during the information gathering, they interviewed different experts in engineering so that the report would not be built upon ideas and knowledge of one engineer. Main source Markow, M.J & Hyman, W.A (2009). NCHRP Synthesis 397: Bridge Management System for transportation agencies Decision Making. Washington D.C: Transportation Research Board. Other cited sources Landis

Decision-Making Case Study Health Care Management

1386 words - 6 pages Question Behind the DecisionBefore making an informed decision, the manager must formulate a research question out of the management question. In this case study the management question is "How will the Young and Middle Aged Adult Department operate with a 15% budget cut?" The research question is "What clinical services should be eliminated or added to allow for the 15% budget cut within the Young and Middle Aged Adult Department's and how will it


2081 words - 8 pages MANAGEMENT ACCOUNTING AND BUSINESS DECISION MAKING - ASSIGNMENT 2NAME: AlexGROUP NUMBER: BLEVEL: IntermediateHAND IN DATE: 13/01/2006Task 1Objectives: 1. To be able to demonstrate the ability to critically analyse given data using ratio analysis techniques.Profitability1. Return on ordinary shareholders' funds= ROSFROSF= Net profit after taxation and preference dividendOrdinary share capital plus reserves2004= 1,123* 100 = 3.91%28,7242005= 1,655

Using Cost of Production for Decision Making

2169 words - 9 pages the grower decided not to proceed with the investment. A thorough knowledge of cost of production prevented them making a poor decision. COST OF PrODUCTION COST ($) PrOPOrTION (%) Crop input costs Post growing costs Overhead costs Capital costs Return for labour, management & ownership $1.43 $0.80 $0.25 $2.52 $2.00 20% 11% 4% 36% 29% Total cost of production $7.00 100% 9 Case Study Using Cost of Production for Decision Making Disclaimer This

Information Relevancy for Online Consumer Decision-making

1581 words - 6 pages Introduction The emergency of Internet has largely changed the travelers’ decision-making process (Buhalis, 2007) and websites have become such an integral component of today's businesses that website effectiveness are of strategic importance to companies at large and hospitality and tourism businesses in specific. It has been a customary practice for hospitality and tourism companies to conduct business transactions to market themselves

Decision-Making Techniques for Managers: Kaleidoscope Brainstorming

1089 words - 4 pages and illustrate the effectiveness of this particular technique. The procedure used for this analysis will give a description of kaleidoscope brainstorming, including its process and application. Furthermore, this paper will investigate when and when not to use kaleidoscope brainstorming as a decision-making tool.DescriptionBrainstorming is a powerful technique for problem solving, learning and development, planning and team building. Compared to

Define Enterprise resources planning system (ERPs). Critically evaluate the statement " ERPS are useful for management accouting and enhance decision making".

2683 words - 11 pages operations and environment and make information access and management throughout the company much easier and faster. As a result, it can improve the time and resources for decision-making. An ERP system is such an interactive information system that rely on integrated user-friendly hardware and software designed to assist mangers make decisions related to the efficient and profitable running of the business. (O'Brien, 1997,P31).The major impact of

New Public Management and Decision Making in UK Public Policy

1326 words - 5 pages Discuss how the tendency of New Public Management has impacted on decision making in UK public policy. New Public Management is generally used to describe a management culture that emphasises upon the citizen or customer as being central, as well as having accountability for results. It also suggests organizational structures and promotes decentralized control, many different types of service delivery mechanisms, including quasi-markets

Team Dynamics And Decision Making For Project Success

1048 words - 4 pages available. Three of the most common styles are when decisions are made by the group leader alone, decisions by the leader after group discussion, and consensus by the whole group. In one decision making style the leader makes the decision without consulting the group at all and takes complete responsibility for the outcome of the decision. The leader does not involve the team members in the decision and chooses based on their own knowledge and

Evidence is always the Primary Basis for Making a Decision

3006 words - 12 pages competitive advantages over their competitors. Such companies use Evidence-Based Management (EbM) as their primary basis for making a decision, in the aim to extract maximum value from their data and information. Method's of doing so included complicated algorithms that can take on both quantitative & qualitative values through techniques such as 'pricing-out', which has been proven to show particular success in highly structured environments

Similar Essays

Ethics And Management Decision Making Essay

4688 words - 19 pages lot of benefit while getting their pocket-money (easy paisa, 2010). 2. Research purpose In this research, management decision makers were taken into consideration to dig out the factors that are affecting the decision-making process of management. Literature does not depict any research study of moral imagination and management decision-making by focusing Pakistan. Therefore, this study intends to fill the knowledge gap that exists in

Strategic Management And Decision Making Essay

1926 words - 8 pages Strategic management and decision making Strategic management is a disciplined effort or control to make necessary decisions that have an effect on a business or an organization; the aim of strategic management is mainly to develop new, innovative or diverse ideas and opportunities for potential or development, and facilitates or assists an organization to achieve its goals (SM, 2010). In reality, strategic management not only can be

Decision Making Tools For Mangers Essay

1281 words - 5 pages Decision Making PAGE \* MERGEFORMAT 1 Running Head: DECISION MAKING TOOLS Decision Making ToolsLearning Team AUniversity of PhoenixWhen comparing the decision making tools from all of our team member's organizations, we found that our organizations use many different techniques. Some of the techniques that we discussed are: cost-benefit analysis, PMI analysis, grid analysis, SWOT analysis, and force field analysis. These decision making tools

Business Research For Decision Making Essay

1584 words - 6 pages Business Research for Decision Making The work of decision making involves choosing between issues that require attention, setting goals, designing suitable courses of action and choosing among several alternatives through the evaluation of each one of the alternatives. Of great importance in decision making is the choosing between the several alternatives. The effectiveness of this work of decision making is of great importance for the well