Introduction
Based on the topic related to knowledge management and decision management, I came to a thought process that the learning associated with the same will help me to understand how the synergy of knowledge management creates a better understanding in the concern of setting up the decision making process both in the academic life as well as the future career opportunities I will opt for as doing a job or even starting up my own business firm. Learning about how knowledge management works in the concern of making effective decisions in daily life will provide me with an ensured scope that my working with my choices are significant ones. In this concern, the given report is connected with examining the aspect of knowledge management in the concern of making effective and efficient decision making process.
Overview of the topic
According to the viewpoint of Schon (2017), in today’s generation of education and business, the environment of the same has been considered to be of the complex nature as well as the turbulent environment. In this context, the aspect of knowledge management has been undermined to play a vital role and turn out to be increasingly essential in the process concerned to the decision making process (Hislop, Bosua and Helms 2018). Studies show that the business organisations which used to employ a different number of consultants, as well as experts in aid of carrying the decision making process of the company, have switched their employment strategy to hiring the professional knowledge managers (Hair et al., 2015). This is because the business entities at the present time have understood the fact that the aspect concerned to their decision making process is increasingly supported and enriched with the help of the learning connected to the depth of knowledge management (Nicolini, 2016). The built-in of the knowledge base helps in the creation of supported decision making in the daily work and education transactions. As opined by Dayan, Heisig and Matos (2017), the state of knowledge management is used by the business entities in the concern of implementing the strategies as well as the practices to be used in the firm. The same helps in the capturing, storing as well as distributing the knowledge in the firm which is either embodied in the individuals of the organisation or to be embedded in the entire process as well as practices carried up in the organisation.
As noted by the viewpoint of Intezari and Gressel (2017), the synergy of knowledge management is determined to have crucial implications in the decision making of an organisation; it was investigated that knowledge management supports the process related to the strategic planning concerned with decision making that describes the entire lifecycle of the business. Based on the recent information collected, it is undermined that the synergy of knowledge management helps the professional decision-makers of the company is taking the complex decisions of the business connected to the modern world which is characterised with diversified forms of risks and uncertainties (Aloini et al., 2019). Not only this, but it is also be understood with the help of the studies that the aspect of knowledge management is supported by the process of information technology which makes the importance of knowledge management stand at a higher paradigm in running a business firm. This is because the information technologically-based knowledge management relies on the outlining of the routine programs to the logical reasoning in the business environment (Abubakar et al., 2017). In light of the above-mentioned factors, it can be stated that the aspect of knowledge management highly improves the business firm’s understanding in the concern of taking the critical, complex as well as the daily decisions regarding its working transactions.
Personal Reflection
While choosing from the several topics discussed in the academic course, the subject related to the topic of knowledge management and decision making attracted me as the same made me understand that the practical decisions are the key process of achieving success in the present as well as the future. The subject related to knowledge management and decision making gave me an attractive message that learning the aspect of prior knowledge management would help in making better and professional decisions in every step of my life, as the knowledge management will back up my decisions with proper and professional learning about how to deal with the strict process of decision making. As opined by Bodie (2015), the decision an individual takes in life is what decides the life cycle of the same. This synergy attracted me towards understanding the depth of the knowledge management in the concern of dealing with the complex decisions that I would have to take in my personal as well as professional life. Moreover, the synergy of knowledge management would provide me with the required learning that would help me to facilitate better and informed decisions in my life. The system of knowledge management is determined to be the multidisciplinary approach that helps in the achievement of the objectives desired by an individual or a group of individuals with the best use of the knowledge incurred by them (Razak et al., 2016). Thus, the next attractive part that made me choose the concerned topic is that I would turn capable of using the best form of the knowledge incurred by me and, in turn, also develop my knowledge and understanding about the decision-making process and take better decisions concerned to both my academic as well as the upcoming future career life of mine. The aspect of learning the depth of the knowledge management will help me to make the professional decision while deciding my choices regarding my future career, and also taking decisions regarding the chosen career for its entire existence.
Application of the Knowledge Management to Future Professional Career
Based on the understanding and learning of the topic related to knowledge management and decision management in-depth with the help of the discussion board, I came to realise the fact that I can apply my learning regarding this subject in my future professional career. As learned with the help of the above study that knowledge management helps individuals and organisations take effective and efficient decisions in the concern of carrying the daily transactions of work and life, the same will also help in taking up the career decisions (Tolbert and Hall, 2015). Not only this, but the learning related to this concerned subject will help me to choose the best career opportunity from the diversified number of career opportunities available to me based on the course study I have chosen. The learning related to the subject of knowledge management and decision making process will help me in a better way of working in my organisation. The organisation either I would be doing a job in or maybe starting an own business entity to work with. The synergy of this concerned subject will help me in every step toward achieving success. As opined by Reason (2016), in order to achieve the right amount of success at the right period of time, an individual needs to take the right decision at the right time in order that the required work in not delayed. Any kind of work to be dealt with needs a decision that has to be pre-decided and formed in the concern of ensuring that the work is dealt with effectiveness and efficiency. Thus, I would be capable of taking the required decision at the right time and ensure that the organisation I am connected to is working with its greatest zeal. In addition to this, the synergy of knowledge management as well as decision making will help me deal with the required amount of changes concerned to the different kinds of uncertainties as well as risks that can arise in the organisation at any unknown point of time. As discussed by Drucker (2018), the best learning concerned to the knowledge management helps in the proper dealing of the change management required to continue with the working of the organisation and not turn the same into a failure. Thus, the learned theories regarding the concept of knowledge management will help me to apply the same in the future organisation I would work in. As the process of decision making is required in every single as well as small to big working transaction of the business in the concern to ensure the work is carried on a timely and perfect basis, thus, the same will help in ensuring that the business activities starting from its very existence till its winding up will be a successful one.
Conclusion
Given the findings based on the subject of knowledge management and decision making process, it can be seen that the aspect of this subject is needed in every single step to carry the working transactions of a business organisation in an effective and efficient manner. Moreover, while coming to the personal development, I understood that knowledge management and its effective support towards decision making process would help me understand the future prospects regarding my career opportunities and build the same with proper effectiveness and professionalism. The entire study brought a conclusion to me that knowledge management highly supports the system of maintaining the process of decision making both for an organisation as well as the individuals.
References
Abubakar, A.M., Elrehail, H., Alatailat, M.A. and Elçi, A., 2017. Knowledge management, decision-making style and organisational performance. Journal of Innovation & Knowledge.
Aloini, D., Dulmin, R., Mininno, V. and Zerbino, P., 2019. Leveraging procurement-related knowledge through a fuzzy-based DSS: a refinement of purchasing portfolio models. Journal of Knowledge Management.
Bodie, Z., 2015. Thoughts on the future: Life-cycle investing in theory and practice. Financial Analysts Journal, 71(1), pp.43-48.
Dayan, R., Heisig, P. and Matos, F., 2017. Knowledge management as a factor for the formulation and implementation of organisation strategy. Journal of Knowledge Management, 21(2), pp.308-329.
Drucker, P., 2018. The effective executive. Routledge.
Hair Jr, J.F., Wolfinbarger, M., Money, A.H., Samouel, P. and Page, M.J., 2015. Essentials of business research methods. Routledge.
Hislop, D., Bosua, R. and Helms, R., 2018. Knowledge management in organisations: A critical introduction. Oxford University Press.
Intezari, A. and Gressel, S., 2017. Information and reformation in KM systems: big data and strategic decision-making. Journal of Knowledge Management, 21(1), pp.71-91.
Nicolini, D., 2016. Knowing in Organisations: A Practice-Based Approach: A Practice-Based Approach. Routledge.
Razak, N.A., Pangil, F., Zin, M.L.M., Yunus, N.A.M. and Asnawi, N.H., 2016. Theories of knowledge sharing behaviour in business strategy. Procedia Economics and Finance, 37, pp.545-553.
Reason, J., 2016. Managing the risks of organisational accidents. Routledge.
Schön, D.A., 2017. The reflective practitioner: How professionals think in action. Routledge.
Tolbert, P.S. and Hall, R.H., 2015. Organisations: Structures, processes and outcomes. Routledge.
