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Knowledge Management Assignment Help
Knowledge management has got a holistic view that aligns the total organizational commitment in to cooperation in order to accomplish the objective or the goal of the organization. It gives the opportunities to the organization in order to use the optimum use of resources available. Knowledge management ensures the inter-departmental function providing all groups within the organization to interact connect and coordinate in order to achieve the goal or target. In this research paper, the different challenges faced during knowledge management implementation, the strategies adopted for effectiveness have been discussed.face when implementing knowledge management or innovation projects. Evaluate the strategies and action that should be adopted by these organizations.Knowledge management in its simple terms is to convert the raw data into understandable information. Knowledge management is a systematic coordination involving the organizations people, technology, processes and the structure of the organization for adding value with the help of innovation or reuse. The coordination involved in the knowledge management ensures the creation, sharing and successful application of knowledge. For every organization knowledge is the biggest asset which drives the positive outcomes and profitability. Knowledge sources can be the company databases, reports, documents, financial statement and the experiences of the workers. Several changes in approaches of knowledge management have come forward due to the advancement of technology associated with the computer applications.Taking the example of fashion store i.e., Moon River which mainly have their outlets in Bugis junction, Suntec City Mall which is operating in the fashion industry at Singapore, Malaysia and Cambodia. After analyzing the market trend, market feedback and research studies, the policy makers of the company have decided to go with the online sales keeping the brick and mortar stores. But the main focus will be the online sales. As per PayPal’s Research report published in 2010 the market size of the online shopping in Singapore reached to 1.1 billion Singapore dollars in 2010 and it will reach to 4.4 billion Singapore dollars in 2015. The change in fashion, taste and preference of the customers, income level, technology driven factors, youth preference, 24*7 shopping, easy comparison, delivery facility are showing the future prospect of the online sales in Singapore and the different studies are giving positive feedback regarding the change that the organization has thought of. The adoption rate is 84% in case of online shopping. The essential steps that are needed to shift the business in to the online platform. The following recommendations are evolved from the market research studies in order to go with the decision:
- Strong e-commerce setup
- Mobile-friendly site
- The site must be noticed in the search engine
- Strong social media team in order to go with the decision.
Sticking in one medium that is to have brick and mortar stores will definitely loose the sale of the Moon River as well as the future opportunities. So the mode of the operation of the company will change or subject to innovation as per the objective of the company.Hence in this situation, Knowledge management plays an important role in order to drive the challenges and to get a value added competitive advantage for the decision that has been taken to go with online sales. Knowledge management is systematic organized attempt to capture the competencies which are knowledge based and storing and then implementing them in to business for supporting the objective or the goal.The objective of the knowledge management is to create the value for the firm while enhancing the firm’s competences and knowledge assets aligning with the organizational objective or goal.(Source: Knowledge Management Tools.net, 2015)As per knowledge management is concern, it has got several dimension. So in case of this organization, it needs to identify those dimension and work on it accordingly in order to meet the changes that the organization has adopted. The dimensions are:
Knowledge strategic management is interlinked with the corporate strategy. The things that the organization Moon River have to look after is to create the relevant knowledge asset required by the change and then to manage and share accordingly.
- Organizational culture: It definitely influences the people interaction process in the context of knowledge that has been created and the concern resistance they will have towards the change that the Moon River is looking for.
- Process: It is the way of doing things done efficiently and effectively. The changes that have been decided must be fitted with the right process to done the job.
- Leadership: It is the leadership qualities of the company that the management has to showcase in order to motivate and encourage the work force towards the change.
- Technology: Applications of the IT enabled tools, techniques and devices are very much required in order to support the change and to get fitted in the organizations need.
The major challenges that the store Moon River can face while adopting the knowledge management applications that are follows:
- Motivation: Getting the employees motivated is the important area. Overcoming and establishing a culture that involves learning, sharing and improving can’t be done with the technology unless the driver of the technology get accustomed or motivated
- Moving with Technology: The determination that how the knowledge would be transfer quickly and in an effective way is huge challenge. This requires an environment to be adaptive, smart, quick and supportive.
- Complex: As per knowledge is concerned it is complex is nature which cannot be quantified in an easy way as it is evolved from the human experiences and the relationships.
- Security: Enhancing the security to the right level is the key element. Sensitive information should have privacy.
- Conflict: The knowledge management tools have the possibilities to give rise to the power of voice among the employees which can give rise in the internal conflict.
- Accuracy: The important data that are generated for the sake of innovation need to be validated before being distributed in the organization Moon River.
- Interpretation: The data that are gathered need to be analyzed, interpreted and presented in a sound way in order to make meaningful to the other employees of the Moon River.
- Determining the Knowledge Management: Knowledge management should fall under the purview of HR or IT or Corporate Communication need to be determined in order to make the relevance to the employees.
- Rewarding: the rewarding structure must be there in order to reward the users of the knowledge management actively in order to boost them to encourage others to follow the same.
The important thing that the store Moon River must consider that the knowledge associated with learning and sharing comes from the human being not necessary that it derives only from the technology, databases or tools. Above all the technological advancements, Moon River’s main objective is to provide and create superior customer values to the customers and to maintain a long term profitable relationship while extracting those values from the customers in the term of profit. The view is not the short term that the “Telling and Selling” concept will go. So they need to do certain variation or changes in the mind of the consumers to have long term profit associated with high customer equity. So ultimately, it is the human being who has to provide the value propositions to the customers. While keeping the technological factors in mind for enhancing the effective knowledge management process the challenges need to faced efficiently in order to establish the innovation.
Keeping the “Human being” factor as a challenge for the knowledge management process. Certain strategies can be taken in order to overcome and ensure productivity for the organization.
- A platform should be created for everyone to share their knowledge, experiences
- Enterprise knowledge management enhances the idea generation process efficiently as it encourages the employee to give and share their opinions and ideas.
- Group discussion process is the way by which the current innovation change can be placed and it will help to gather the views of the employees.
- Respecting and motivating the employees to adapt the certain innovation. Showcasing the employees that the concerned innovation will help to enhance the business in to the upper level ensuring the future opportunities of the employee.
- Training programs in order to give certain inputs required for providing the updated service to the customers.
The importance of knowledge management is inevitable. The data collected need to be evaluated. It is very natural that some data’s are not so important whereas the others are very much important. So they need to be categorized as per the business needs in order to take the crucial decision. The implications of knowledge management give certain importance to the organization which is as follows:
- Knowledge management will surely give rise to the learning habit for the employees which will inclined them towards the self assessment and self improvement
- Knowledge management paves the way for innovation and work culture changes in the organization. It enables the creativity of the work force in order to provide the concerned service.
- It will give better decision making process. By the use of knowledge management, the data gathered, stored and then processed will definitely give rise to a better and constructive decision enabling the betterment of the business of the organization.
- The business or the product that will be offered to the market needs better analysis of customer’s needs, wants and demand. Knowledge management ensures the positive approach in order to make the innovation or introduction of the business.
Application of the knowledge management systems need to be done in the company Moon River in order to face the change that the company has planned after getting data’s and information. It is the technology who will give the systematic process to adapt, store and share the data’s and knowledge in order to get the maximum benefit. The steps that can be taken by Moon River in order to implement the knowledge management system to support the innovation project are follows:
- Identification of the issues: The first and foremost step is to identify the business issues of the organization management. Unless and until if the areas for the problems are not identified the implication of knowledge management cannot be done as per the business goal or objective. In this case the evaluation and the assessment need to be done on the information from the company database or from the feedback study or from the experiences from the employees. Cost benefit analysis can help in order to evaluate the training cost issues regarding the security, different complexities associated with the benefits that are evolved during the business. 6
- Transition: After the problem area has been identified the time for transition need to be given. It is the tendency of the human being to resist the change. So the management needs to take a smart and effective approach in order to make the work realize the need for the changes of the business.
- Forming a dedicated team: A team is needed with a good leader who must be much focused, having interpersonal skills, experiences, knowledge in order to make the workforce dedicated to the change and to make accustomed with the new process and thinking level.
- Evaluation of the technology needs: Assessing the technological needs and then to make priority is very much essential. Certain innovation will definitely hire some additional cost on technology. So it is very much needed that the cost to evaluate according to the technology needed for that innovation.
- Determining the different aspects of the Knowledge management system: The technology that is needed to be acquired need to see that how it is addressing the business needs. The following key features of the knowledge management are as follows:
- Open systems: These are the systems which enables the employee to access the information from the current location.
- Distributed systems: Distributed system implies the distribution of the information to several servers ensuring several locations.
- Measurable: The system should be measurable in the sense that from which location the information are mainly accessed and so on. It enables the effectiveness of the knowledge management system
- Customized: The system must be flexible as per the needs and the environment of the business.
- Secure: The system should posses the security and prevent from the loss of information.6
- Ensure the phased out process: The knowledge management process should categorized in certain phases in order to achieve the goals or objective in a better and systematic way. Suppose:
- Phase 1: It may include the electronic text based data sources in order to retrieve the information.
- Phase 2: Phase 2 can be the knowledge mining software in order to find the relevant information
- Phase 3: It may include the automated data categorization in order to have a speedy categorization of the knowledge.
- Phase 4: Phase 4 can allow the employees to share their knowledge as a purpose for contribution
- Phase 6: Knowledge mapping software can be used in this phase in order to get a faster access to the knowledge
- Phase 7: Knowledge directory software can be framed in phase 7 in order to identify the individuals who have the certain relevant knowledge.
- Knowledge Linking: Linking the knowledge to the people for the sake of implementation of knowledge management system. The two ways can be followed in this case:
- Knowledge directory can help the employees to relate their knowledge with the experts in the organization.
- Content management helps in this regard to gather the information, editing them and validate it.
- Launching: The last step is to launch the knowledge management system while having the required funding and other resources in order to achieve the decision or goal of the organization.
As the innovation that the Moon River is going to take that is to go with the online sales as per the industry trend with the help of the knowledge management system need to measure and improvements should be implemented as per the areas that are needed to be prioritizing. The performance must be measured in order to support the goal or the objective of the organization.
In this report we have found how knowledge management plays an important role along with the different challenges to support the decision taken by the fashion store Moon River Singapore. Associated with the careful steps and strategies to adapt the knowledge management system in order to have the desired goal of organization. Thus we can conclude that managing knowledge is necessary for smooth functioning of operations and proper fulfillment of functional roles as it improves efficiency and productivity due to clearly communicated information’s. Hence, leads to innovation which is significant for competence and survival.