This website uses cookies to ensure you have the best experience. Learn more

What Is Knowledge Management(Km), The Use Of Km In Today's Business Environment

3024 words - 12 pages

Total Words : 3121 (Including Executive Summary and Appendices)ContentsNo. Description Page No1. Executive Summary....................................................... 32. Introduction ................................................................ 43. Sainsbury's PLC as a Knowledge-Based Organisation.... 54. Introduction of GlobalNetXchage .................................. 75. Transformation Process ............................................... 86. Knowledge Management Strategy ............................... 107. Conclusion and Recommendation ................................ 118. Reference and Appendix ............................................. 12Executive SummaryThe coursework is mainly focused on the organisational changes in past few years. According to Prof. Petew , from Warwick Business School. There is a huge change in UK and some of the international firms across the globe. Every company, specially a knowledge-based firm, is trying to be more focused in utilising knowledge of its people within the organisation to achieve their business targets.The Knowledge is the most powerful tool of any organisation, it is an intangible asset which does not appear on the company's financial statements. Some small organisations thinks that they do not have to do anything with it. In fact, knowledge management is the most powerful tool for every size of organisation and it does not discriminate of its size or any industry it is running in.A tacit knowledge is something which is in mind of the person , it can not be articulated or transformed but, when shared with other colleagues . It can help in converting it to explicit knowledge. Companies are now aligning their strategies, where an exciting culture can introduced where knowledge sharing can be encouraged and rewarded.'To remain competitive, organisations must efficiently and effectively create, locate, capture, and share their organisation's knowledge and expertise'Michael H ZackSloan Management Review 1998(Lecture Notes)In this coursework, the company I chose for my research in this particular areas is J-Sainsbury's Plc, In year 2000, the company introduce a new supply chain information system along with nine more retailers in UK. The system called GlobelNetXchange or GNX toolkit can provide information to its members by sharing their knowledge and experience.Our membership with GlobelNetXchange is a step change in the way we and our suppliers conduct business and it will create greater efficiencies for our buyers and seller. Sainsbury's has already held a number of global-online reverse auctions and we aim to purchase 75 per cent of our goods in this way.J-Sainsbury's PlcAnnual Report and Account 2000GNX has changed some structural and procedural changes within Organisation, these changes are explained in section B. This initiative has given the company to be one of the best retailer in the industry by providing the best product availability system, which has enhanced their customer...

Find Another Essay On What is Knowledge Management(KM), the use of KM in today's business environment

Identify the significant changes taking place in today's business environment

1393 words - 6 pages 1. Identify the significant changes taking place in today's business environment that are forcing management decision makers to rethink their views of marketing research. Also discuss the potential impact that these changes might have on marketing research activities. Please provide adequate references for each of the points in your discussion.Today's business environment is relentlessly subjected to significant changes. These changes force

Importance of Strategic Planning and Management in the Business Environment

589 words - 2 pages ensuring the future success of the organization. In addition, Strategic Management and Planning involves, planning, directing, organizing, and controlling the company's strategy. Strategic management, consist of three processes that entail corporate business, functional level planners, and support personnel. (Pearce & Robinson, 2004)Strategic Plan ImportanceIn today's business environment a strategic business plan is indispensable due to the

Importance of Strategic Planning and Management in the Business Environment

904 words - 4 pages external environment to remain competitive. A strategic plan will provide a "game plan" (Pearce & Robinson, 2009, p. 3) and identify where My First Teeth Keepsakes will want to be at some point in the future and how it will arrive there.Four Functions of ManagementThe four functions of management are crucial in order for a business to be successful. Management is "the process of working with people and resources to accomplish organizational goals

Use of Project Management Software in Business

1278 words - 5 pages Use of Project Management Software in Business Project Management is using the concepts of information technology in businesses to meet the requirements of a particular project. It depends on the process it needs to take to implement a project. The application of knowledge, skills, and tools and techniques is needed ( There are 3 main phases of project management, they are planning, scheduling and

Leadership and Management in Today's Business

1828 words - 7 pages ). Leadership can occur at any time by any individual. In other words, leadership does not require a managerial position or the knowledge of managerial processes in order for an individual to act as a leader. Where management is an ongoing role, leadership is an occasional act (Sanders, 2014). Leaders have the ability to persuade others to buy into their vision, and therefore can inspire others to achieve that vision. People are required to follow

Knowledge Management: Is this the next step in the evolution of management theory?

805 words - 3 pages four million saving for the fortune twenty company due to the benefits reaped from the use of the knowledge management tool.With the article by Mr.Tanz it shows that different theories have worked successfully at different position in time, this is due to the change in production to suit people's lifestyle like that of the information age compared to the industrial age. These different and ongoing circumstances have showed us the importance of

Compensation Management Explain the need for designing of Compensation Policy. What is the importance of compensation system in business organization?

1146 words - 5 pages environment because it can cope with the fluctuation in the wage levels in the industry8.A healthy system promotes quality of work life amongst the workers because they are satisfied in what they are getting.ConclusionCreating and refining the company's compensation policies are essential responsibilities of top management and compensation professionals. Policies should reflect the company's values and culture and should address such issues as

Evaluating The State Of Leadership Training In Today's Business Organizations

4272 words - 18 pages Evaluating the State of Leadership Training in Today's Business OrganizationsAdult education has taken on many forms in recent years. The factors that affect participation, whether formal or informal, are being considered by organizations around the country when creating opportunities for continued learning. An area of adult education that has sparked interesting discussions is Leadership Training.The purpose of this paper is to examine the

What is the definition of evil in today's society? Why does God, if He exists, allow catastrophes to occur?

1672 words - 7 pages The question, after millennia of pondering, still remains: what about evil? More so in the modern era, people have been questioning about whether there is a clear definition of evil or not. It is difficult to determine where one can draw the fine line that divides evil from non-evil. In this article, Ron Rosenbaum attempts to answer the questions of what people consider to be evil, and why does God, if He exists, allow for so many catastrophes

Responsibility in The Legal Environment of Business

919 words - 4 pages stated in our book The Legal Environment of Business, “if a manufacture fails to exercise “due care” to make a product safe, a person who is injured by the product may sue the manufacture for negligence”. Kolchek could sue the manufacture. In this case which is Great Lakes spa. Porter was just a company that was selling the product. Great Lakes spa should have taken the initiative to examine their products throughly before putting it out on the

Of what use is knowledge of the social psychology of group behavior to the theory and practice of contemporary HRM? Illustrate with examples

2858 words - 11 pages achieve an optimal use of their resources.This element is what makes the use of groups so beneficial, although, diversity can also create conflict. Hence, it is important for groups to understand the dynamics of conflict and to manage its natural flow.Another advantage of groups is members catch each others errors and reject incorrect proposals, depending on how capable members are of solving the task.Evidence suggests that on average groups

Similar Essays

Knowledge Mangement (Km) Implementation Strategy Essay

840 words - 3 pages A knowledge management (KM) implementation strategy is intended to deal with the problem of knowledge loss, in another words, is simply a plan that describes how an organization will retain its knowledge better for the benefit of that organization and its stakeholders. Herein, an organization is critically in loss knowledge position when some of its experienced workers retire or leave the organization. So the firm should seek to implement

Is Global Business Degree Necessary In Today's Business Environment?

927 words - 4 pages business and hence they don’t feel the need to study. But it’s better if you do because once in your life you will have to look after the business. You will be able to do ensure the business is running but for ensuring growth who will need to have some extra knowledge which you will get if you have acquired education. With education instead of degrading the business you will probably make it grow and take it to new heights. I feel that a business degree

Identify The Significant Changes Taking Place In Today's Business Environment That Are Forcing Management Decision Makers To Rethink Their Views Of Marketing Research

1335 words - 5 pages , promotion and product, but also investigates what is the needs and wants from the consumers and how can the organization satisfy the consumers' prospect. However, to be aware and deal with the obstacles that keeps occur in the business environment, is very important for organization to understand the importance of marketing research and cope with the changes in today's business environment. The changes include consumer taste, globalization, technological

Identify The Significant Changes Taking Place In Today's Business Environment That Are Forcing Management Decision Makers To Rethink Their Views Of Marketing Research

1084 words - 4 pages Identify the significant changes taking place in today's business environment that are forcing management decision makers to rethink their views of Marketing Research.Desirably, marketing research can be classified or defined as the collection of any facts relevant to a marketing decision. But to be more specific and accurate to the definition, It can be defined that Marketing research is, "The systematic collection, analysis and interpretation