IT assignment help on: Knowledge management strategies
Executive Summary
In the highly competitive working environment the enterprises would not be able to survive unless & until it will have access to the information knowledge system (IKM) & various IKM strategies which would help them to sustain & succeed. There have been various knowledge management strategies, intellectual assets which have been proposed.
The term “Information & Knowledge Management” has been used in the various organization in regards to manage, design, exchange as well as create various activities which would enhance the academic assets amongst the leading organizations.
In order to excel, the business enterprises state that the people working in the organization play a key role in the establishment as well as an ongoing success of the enterprise. There has been a substantial increase & organizations are focusing upon the implementation of the IKM. Implementation of the IKM strategies would be one of the key issue at Yashida. The implementation of the same would help them in order to formulate various strategies which would help Yashida in order to develop, manage new products in the constantly changing electronic business.
The report majorly comprises of the information & knowledge as well as the various significant problems involved in developing an appropriate Information Knowledge Management (IKM) policy for Yashida. Basic meaning of information & knowledge management which would be applicable in regards to Yashida has been well explained in the following report. This report would also highlight the framework for IKM at Yashida, the major function i.e. how IT plays an important role in facilitating the IKM strategy at Yashida. The final segment of the report puts together directives that will permit Yashida to more suitably implement information and knowledge management strategy that will facilitate it to enhance the business performance.
Business Objectives
In order to sustain in the highly competitive as well as the ever changing electronic industry, Yashida took an initiative in order to improve as well as target the organization which would help in order to deal with the appropriate knowledge. It takes into consideration the following aspects such as:
To make the people aware regarding the role of information & the efficient utilisation of the knowledge this would help Yashida in order to focus upon their customers & would have an effective Service delivery.
- To make sure that all the employees/ staff members/ managers would be highly committed in order to retain & add on to the IKM systems, which would help in the endorsement of the idea to their staff members.
- To recognize the significance of the two main components i.e. experience as well as proficiency of the employees working in the organisation & regard them as the most valuable asset.
- The enrichment of the proposal in order to clarify as well as inflate the exchange of the knowledge composition amongst the people who are engrossed in providing the various value added activities.
- Transforming of the information as well as the knowledge according to the needs of the enterprise & its customers.
- Proper exploitation of IT for the incorporation of the business enterprise, which would help in a hassle free process which would help in the sharing of the data & information electronically.
- To create linkage amongst the various strategies this would help them to incorporate the same.
- The accomplishment of the extensive compilation of the various devices, procedures & notions such as Total Quality Management (TQM) & the association in order to make further advancements amongst the products being produced by the organization i.e. Yashida which would in turn enhance the value as well as the fineness of the products
The electronic industry is quite dynamic & is ever changing. In order to sustain in the highly competitive market, various IKM strategies must be designed & formulated by the organization (Yashida) which would help them to attain sustainable competitive advantage. Thus, fair understanding regarding the business, product being manufactured as well as the upcoming knowledge should be taken into consideration by Yashida. Yashida being a part of the electronics industry could use KM tools which would help the organization in order to bring about new innovations amongst the organization which would help them in order to have high class business performance which is majorly required by the electronics industry as a whole.
The report highlights & examines the information which would be associated in order to design as well as formulate the IKM Strategy for Yashida. The report begins with the basic definition of Knowledge management, followed by the significance of knowledge in an electronic industry. The closing segment of the report directs Yashida, which would help the firm in order to formulate as well as implement a suitable IKM strategy that would facilitate Yashida in order to enhance its business performance.
Information Knowledge Management
Information Knowledge Management could be defined as an intended plan of process, structures, tools, etc. which would help the organization in order to expand, share, improve or renew the effective utilization of the three major elements of the academic capital such as Human, Social & Structural.The information knowledge management (IKM) consist of various policies, practices & strategies which would help the enterprise i.e. Yashida, in order to represent, identify, create & adopt various experiences which would help them in order to establish themselves in the ever changing electronics industry.
With the help of IKM strategies, the company or the business organization would be able to improve the performance, have a competitive edge over its competitors, lead to various types of innovation, constant improvement at the work place, communicate the various lessons learnt from the organizational learning, etc. Information Knowledge Management proves to be as one of the most important element & an asset which would majorly highlight & promotes sharing, communicating the knowledge within the organization.
IKM Strategic Focus
The IKM strategic focus in case of Yashida would be such that in order to be more formal & capture as well as share the knowledge which has been created inside & outside the organization is one of the key elements to succeed.
Hence, the company i.e. Yashida should aim at having a highly formalized knowledge management system which would help them in order to have one of the best practices. Lack of satisfaction from its customers, decline in the amount of profits reaped by the organization, etc refers to some of the major issues which have been faced by the company.
These days prevalence of IKM strategy would help the company in order to have clear idea regarding a particular situation. This report would reflect as to which Knowledge Management Strategy should be designed, formulated & implemented in Yashida. The various collections of the driving forces, which would help in the adoption of a specified knowledge management strategy should be taken into consideration & then, the suitable strategy is to be adopted.
Management of knowledge
Numerous tasks and functions a re required for the management of knowledge. They have to make certain that knowledge is created, encapsulated, accumulated, distributed, exchanged and finally withdrawn. Again this need not essentially be done in a linear fashion, as the circumstances of utility and facilitating infrastructure and devices also have to be borne in mind. These interconnected aspects can be classified into four major groups:
• The collection of knowledge that has to be handled and administered will comprise of data, information, and knowledge has to be known. The objective of a particular knowledge with regard to for what it is needed, to what it imparts, for whom it is required are all to be ascertained.
• The circumstance of utility has to be clarified. This comprises of concerns such as aspects that commence the requirement for knowledge, and application method within the structure and culture of the organization.
• The definite functionalities, systems and instruments essential to store, disseminate and reutilize knowledge.
• A measurement or suggestion of whether the managed knowledge is adding value to advance the business performance or not is required. This is needed as ultimate objective of Information Knowledge Management is to achieve and sustain competitive advantage.
IKM Major Directions
Pg 5 of the PDF….
Impact on structure and working practices
Yashida does not have an excellent history of valuing its members as well their individual and group contributions. This aspect can result in easiness for sharing of knowledge to happen. At the same time in any organization tacit knowledge is inclined to be looked upon as a property of the individual rather than of the organizational as a whole (Teece, 2000). The hierarchical nature of the structures within the organization and the presence of teams with multi-disciplinary skills are going to make the sharing of knowledge a difficult process to be achieved. In such a set up it is possible that the establishment of a new management structure to manage knowledge efficiently can be perceived with distrust. On the same line, far reaching modifications in work function for the sake of Information Knowledge Management are certainly not desirable (Kamara, Anumba and Carrillo, 2000). The new system can be looked upon as requiring an extra effort from the part of members which will also reduce its acceptance. So it has to be noted that KM will have to turn out to be an essential aspect of the way individuals function if it is to be accomplished successfully.
Potential Barriers to KM
There are many barriers to the successful implementation of KM within Yashida. These include:
Culture
As an organization, Yashida can be motivating the culture to share knowledge. At the same time it needs the support at all levels of the organization. The culture at the different levels of the organisation has to be taken up for KM to become beneficial (Nonaka and Takeuchi, 1995). The individual members need to be convinced of the advantages of KM to evolve a culture favourable to this system across the organization
Time Shortage
An extra endeavour is required from the part of members to share knowledge demands. On the other hand this effort can be reduced by systematic practices and through presentation of improved tools for knowledge sharing. In Yashida projects are always run with firm deadlines to be fulfilled. So KM should not be having a digressing effect but instead it should make work within the projects more comfortable.
Solving complex problems
KM will include different stages making it a complex system as a whole. To visualise a system that can convey the necessary knowledge to any member or any project team can be the dream of Yashida. But it is much easier to dream than to put into practice.
To be realistic, for Yashida which is commencing on Information Knowledge Management strategy, it is important to commence on small projects that are self-contained to understand the complexities of the system.
Knowledge conversion
A foremost impediment is how Yashida can capture the knowledge on projects, especially those in which parties involved in the supply chain include stakeholders external to the organization. The organization has to decide on the professional involved in the projects of Yashida but are external members. These professional with wide experience can be excellent sources of tacit knowledge. But to convert their tacit
knowledge to explicit knowledge can be extremely difficult to achieve which will require large amount of resources and time.
Multi-Disciplinary nature of teams
There are projects in which the team members work in different departments of Yashida.
For such project teams management of knowledge within the tight time schedule will become difficult to achieve. In such case the benefits obtained from KM will be difficult to override the drawbacks of spending that much of effort on such a new system
Unique Projects
In Yashida there is a tendency among members to vie each project as unique by itself. Such an attitude can strengthen the perspective that KM on individual projects will be a waste of time as the upcoming projects will be different from the present ones.
Lack of learning
It can be seen that there are occurrences where the same mistake is repeated. This conveys that there is certain degree of lacking in the learning process especially from the mistakes. This attitude has to be changed for KM to be successful
Extended time period
There are no short cut methods to attain KM. It has to be a long term oriented goal. The management system has function properly for a sufficient amount of time for the benefits to start infiltrate into the functions of the organization. So patience is required to fetch long term benefit from KM.
Faith deficiency
Once the KM system has started the members can have the expectation that any data and information is available to them as and when required. But the fact of the matter is that as mentioned it requires a certain period of time for the KM system to start giving benefits.
On seeing that the system is not delivering the expected benefits immediately members can start to lose faith in the system.
Requirements of a KM system
The IKM strategy mentioned above should be complied with the various requirements mentioned below. They are as under:
Þ To support & verify the knowledge which has been recapitulated using ceratin suitable procedures in the entire system.
Þ A fully fledged knowledge management lifecycle should be maintained by the KM system mentioned above. From the creation of the data throughout the exchange as well as flow of the direction in order to withdraw the entire system which should be able to facilitate a fair management of knowledge.
Þ Easy usability of the system would help the organization in order to see whether the entire system is being accepted by everyone working in the enterprise. This refers to one of the crucial elements which should be added in the system. This would also help in the better understanding as well as usability of the entire system.
Þ The system so implemented in Yashida should be able to update & maintain all the possible knowledge which is there in the organization (Yashida) devoid of any errors. The feature mentioned above refers to one of the most critical ones as it would help in the development of the trust as well as the confidence amongst the people who use the entire system.
Þ The draft of the entire system mentioned above should be in accordance to the organization’s main objectives, goals, mission, vision as well as the processes used by the organization (Yashida).
Þ The KMS implemented in Yashida should be able to support the multiple perspectives within the organization. This means that, the KMS must be able to store the various knowledge (different levels).
Þ The KMS should be able to update the users which would help them in order to promote organizational learning. The KMS designed & implemented in Yashida should be able to re-use the knowledge wh9ich would be already available within the organization.
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