Knowledge Management Essay Example | Topics and Well Written Essays - 2250 words

Knowledge Management - Essay ExampleFurthermore, forces inside the industry, which complicate buyers, suppliers, new entrants, substitutes, and close to importantly, rivalry in the industry. Therefore, the report presents cognition management as solution to most of these problems and a tool to strengthen companys situation. Discussion Definitions of Knowledge Management Without any doubts, for the bypast few decades the world has been changing at exponential rates. The force of human mind of discover the secrets of nature, search the seas, capture the air, fly into the sky and others have allowed us to live in a world which is a better and comfort equal head. However, on the other hand, these technological advancements have really increased the amount of nurture and knowledge that was available before. In fact, never in the history before, we felt the need to manage the knowledge that we possess. Furthermore, the future that awaits for us where our success would be a direct re sult of our ability to effectively use, manage, and let out our knowledge. Technological capital and human intellectual capital may not get a place on the balance sheets of the governance but they allow be getting much attention in the corporate goals, mission statements, and plaqueal cultures of the many companies. People understand that the only thing, which has the ability to limit them, is their ability to leverage and use the human mind (Stankosky, pp. 234-235). Despite the fact that there has a lot of research in this field and lots of ink is being devoted to the subject, yet authors and experts have not been able to reach a consensus or one unified definition for this topic. According to Robert S. Seiner, Knowledge Management cigarette be defined as a concept in which an enterprise gathers organizes, shares, and analyzes the knowledge of individuals and groups across the agreement in ways that directly affect performance (Frappaolo, pp. 26-28). According to Meredith Le vinson, Knowledge Management is the process through which organizations generate value from their intellectual and knowledge based assets. According to Robert Villegas, Knowledge Management is simply the switch of knowledge from one person to another, the result of which enables the recipient to benefit from the collected wisdom of the more experient members of an organization or group (Becerra-Fernandez & Sabherwal, pp. 341-348). In other words, Knowledge Management is actually a alternating(prenominal) system or a multiplier effect, which helps an organization in efficient achievement of its objectives and the same happens because the organizations habits, planning and its execution is deeply rooted in the tacit and explicit learning of the organization (Stankosky, pp. 234-235). Why implement Knowledge Management? Following are some of the direct and clear benefits that Bobco will benefit from by the implementation of knowledge management in the organisation. First, the compan y would be in a great position to decrease the operational costs. Quite understandably, the market place of today has turned into a ruthless, aggressive, bloody, and destructive place where survival of the fittest is the order of the day. Even Bobco is operating in a market where the pressures for decrease costs are increasing everyday. Despite the fact that sales have increased yet the pay margins have been shrinking due to increased pressures to outclass competitors. Attaining