Significance of Knowledge Management
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Knowledge management is core when utilized and availed for sharing with the relevant people, and its techniques fully implemented in an organization or company. Companies face eminent loss of tacit and explicit knowledge due to lack of proper knowledge management and the transfer and retirement of employees due to demographic shift. Organizations need to capture and retain such knowledge and manage them in a way that is of benefit and will contribute to its economic and process improvements.
This knowledge however cannot contribute to the improvement of the firm if it is stored and not utilized and consumed. The company needs to share the information with its information on knowledge management to its employees in a manner that they will understand its implementation within the organization. The knowledge should also be available for the executive so that it informs decision-making process in order for the company to have productive decisions made through the utilization of knowledge management. Again, sharing of that knowledge by the company even to market players is important in improving the knowledge and making it productive.
This group of serves best as audience to my research work for different reasons and purpose. The knowledge management plays distinctive roles to the people who require it and use it. Even though knowledge management is of different importance and use its aim is unified to give the companies and organizations success and economic efficiency. Knowledge and information serves no purpose for a firm if it is just stored and not utilized, a company need to make the knowledge management part of it daily processes in order to realize its maximum benefit. The application of knowledge management in the daily processes makes it easier for making quick informed decisions on the company processes for continued efficiency and improved products.
Employees need to find quick access to necessary information and knowledge relevant to their work process. Knowledge acquired should be presented for easy navigation and continuous improvements irrespective of the source. Firms need to recognize the role of information technology and technological advancements play in knowledge management and make its employees aware of the advancements and the technologies in place so as to create value for and ensure continued success of the firm. The knowledge management should be able to create commercial value through organizational efficiencies to support customer success.
Organizational employees as an audience to the research report will benefit in knowing how to improve the efficiency and effectiveness critical to tapping organizational internal resources for the improvement of organizational processes.
In the Journal of Community Positive Practices (2013), Ozlen says, “information to public servants is important for the improved management of knowledge through the use of Knowledge Management Systems which enormously increases in order to solve employees' tasks and deliver services effectively while facilitating decision-making capabilities. Furthermore, organizational wide adoption of Knowledge Management becomes important in obtaining higher benefits,” (p. 112). By accessing this research report, employees will be able to have glimpse of the knowledge management adoption process, its antecedents and possible consequences.
Rich domain of organizational knowledge management system has the ability to support large growing organizations and be an important part of sustaining organizational standards and quality even to give it the capacity of growth and expansion. The employees need to have necessary details of knowledge acquisition and utilization in order to avoid misinformation and mishandling of clients and customers, which may lead to the company incurring costs to rectify the situation. Employees are responsible for utmost quality and compliance with regulatory standards and protocols. The knowledge generated in this report will be able to demonstrate to the employees their roles in and the importance of knowledge management in improving organizational efficiency and understand the process of acquisition, implementation and utilization of knowledge management systems in place within their organizations.
Organizational executive will play a good audience to this research report as top most organs of the organization and core decision makers. Organizational compliance, sustaining, and improvements of standards are their responsibility with the aim of expansion and quality of growth of the firm. With the knowledge management systems, the managers get to sustain quality of standards, manage critical processes of the organization, and ensure quality improvements, compliance to regulations, earlier corrective measures, in order to enhance the performance of the organization and to ensure continuous improvements to meet customer needs.
This research report is capable of enlightening the executives of companies on “approach based risk intelligence to effectively manage and mitigate risks for better decision making and optimal process outcomes,” according to Metricstream, (2012). From the knowledge management systems, the managers are able to manage all range of quality and compliance related processes in order to integrate and to streamline initiative in order to eliminate duplicative activities thereby improving efficiency and minimizing costs of operation.
Organizations top most organs needs the knowledge “to efficiently manage corrective and preventive actions in compliance with guidelines,” as stated by MetricStream, (2012) so as to handle issues arising, the quality management procedures, non-compliance and any other non-conforming issues so that they can immediately offer systematic informed directions for immediate action and elimination of root cause of an issue. Sometimes, the smallest error in a firm can lead to destabilization of programs. In this case, continuous quality and compliance is most critical. The managers should have built in capacities in order to dispatch continuous and consistent directives, which are in turn credible.
Organizations are invests heavily on the development of knowledge management systems to improve acquisition and disintegration of knowledge in different contexts, as Alexander, (2014) states. However, these systems may fail to meet expectations when not properly implemented and utilized. It is the role of the company’s top organ to ensure that the innovativeness and use of knowledge systems are not in any way affected by different aspects of the organization, but instead used for the productivity of the company through supporting day to day activities.
With the expansion of ideas of the knowledge management within organizations, the managers have to ensure that the knowledge management practice is in line with the company’s goals and objectives and hold special importance to the organization. According to Sanjar et al. (2014), the top organ should show commitment and support to the systems and ensure that the staffs are competent and enhanced through the system and that the system is customer oriented in creation of knowledge management value chain.
Another group of possible audience to the research report is the different stakeholders and the players in relevant markets including perceived competitors. Knowledge is bringing dynamism and shift in market trends and economic expectations. Organization structures, culture and work processes are impacted greatly by the knowledge management systems. Information sharing among market players is capable of generating rich knowledge, which is externally acquired by organizations and utilized in running their day-to-day activities in providing valuable asset. Better management and sharing of knowledge is necessary in solving organizational tasks, ensure improved service delivery to clients through highly maintained consistent quality, uniform standards, and ensure accountability and transparency in decision-making.
The market player will appreciate the need for knowledge sharing, as it will enable them monitor market trends, economic dynamics, which will then be incorporated in the organizational processes to ensure that the product output is what, is actually demanded in the market, and that they meet the standards and specifications. Sharing of knowledge across boards and boundaries enable knowledge growth and improvements, initiate innovativeness and expand financial and non-financial opportunities.
Different report formats are applicable to these people due to difference in time and the roles they play. The managers just require a clear brief summary, which is up to the point to inform their decision-making processes. This group of people cannot have time to go through every bit of the report, therefore a summary presented in an elaborate simple format that is easily understandable with utmost clarity enabling its absorption in their daily work. This presentation can be done through a power point or through a printable screen shot.
Employees however need detailed information from the report. They need to understand every detail step-by-step points from the findings in order to visualize the whole concept. Unlike the managers who give directives, the employees are the people involved in the core activities of an organization and thus require rigorous, in depth, well presented report in order to capture all the necessary details. They can achieve this through presentations aided by visual diagrams and illustrations that will enable them to connect with the real thing on the ground. A workshop can be organized for them in order to take them through the report.
Stakeholders and other market players as audience will also require a format which fits their situation. As the managers, these people might not have all the time to go over every bit of the report, and even so, they may not need every detail of what is presented in the report. Therefore, they need just a snapshot of the report in summary to understand what is contained in the whole of the report. These people are only building on and improving the knowledge that is already available and they only need briefs that will enable them share their opinions and improve on findings.