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Impact of Knowledge Management on Decision Making Process
Introduction
Knowledge management is a crucial aspect, which works towards the maintenance of resources. The methods adopted for managing the resources adversely affects the decision-making process (Epstein, 2018). These aspects proves true for all the companies and organization including Woolworths.
Problem Statement
The knowledge, skills, competencies and abilities of the employee benefits needs to be managed effectively in terms of extracting the labours from the employees. The mangers through the exposure of efficient and effective leadership styles, control the behaviour of the employees. Lack of strategic planning aggravates the complexities in terms of moulding the employees into the organizational requirements (Geisler & Wickramasinghe, 2015). This absence compels the organization to encounter losses from the contemporary brands.
Research aim
The aim of the research is to assess the impact of knowledge management on the decision-making process of Woolworths.
Research objectives
1. To identify the leadership style followed b Woolworths for carrying out the business activities
2. To assess the techniques adopted by Woolworths in terms of undertaking decisions for the betterment of the organization
3. examine the impact of knowledge management on the decision-making process of Woolworths
4. To suggest recommendations for improving the knowledge management practices and decision-making process of Woolworths
Research questions
1. Which leadership style is followed by Woolworths?
2. What are the techniques used by Woolworths in terms of undertaking decisions regarding the efficient execution of the business activities?
3. What impact does knowledge management have on the decision-making process of Woolworths?
4. What recommendations can be suggested for improving knowledge management and decision-making process of Woolworths?
The significance of the research
This research would shed light on the interrelationship between knowledge management and decision-making process. Theoretical considerations prove effective in terms of enlivening the understanding towards the cause and effect. Along with this, the research would assist the managers in terms of applying effective management techniques on regulating the performance of the employees (Kerzner & Kerzner, 2017).
Literature Review
Concept of knowledge management
Knowledge management is the process through which knowledge is created, shared and used within the workplace. Through the use of knowledge management, the personnel reflects multidisciplinary approach toward using the knowledge for achieving the identified and the specified objectives. Typical examples of knowledge management can be post-training tests, which helps the managers to assess the capability of the employees in making practical application of the learn skills in the workplace operations (Meihami & Meihami, 2014).
The concept of Decision-making process
In a workplace, several processes are adopted for undertaking decisions for the efficient execution of the activities. Involvement of the stakeholders and shareholders in the decision-making process enhances the perspectives of the personnel towards the business activities. Typical examples of this are the discussions and open forums, which provides a platform to the personnel in terms of voicing the opinions regarding the issues, which they are facing while executing the allocated duties and responsibilities. According to Rosemann & vom Brocke, (2015), consideration of integrated procedures results in effective decisions for resolving the complex problems like regulating the performance of the employees.
Original Knowledge Creation Theory
The main proposition of this theory is the perceptions towards knowledge, which is enhanced through the concepts of creativity, learning, innovation and change. According to the theory, knowledge is defined in three ways:
1. The perceived belief that knowledge is justified in terms of the enhancement, as a result of theinteractbetween the people
2. Knowledge is actually a skilful action, possessing the capability to prepare the employees for solvingthe complexworkplace problems.
3. Knowledge is explicit and tacit through a consistent continuum (Webb, 2017)
Going by the first conception, group discussions form an effective element in terms of enhancing the preconceived skills, knowledge and expertise of the employees. Apart from this, training results in the transfer of knowledge from the senior employees to the juniors. This process enhances the mutual understanding between the employees. This enhancement, further, proves fruitful in terms of preparing the employees for the challenges and issues. Here, managerial assistance is crucial in terms of averting any illegal instances. Explicit representation of tacit knowledge through consistent evaluation helps in upgrading the standards and evaluation of the knowledge management practices (Meihami & Meihami, 2014).
Impression management theory
According to this theory, social interaction bears resemblance to the theatrical performance. Countering this, not all interactions are like theatrical performance. This is because some of the interactions are informal and lack ornamentation. One of the other considerations of the theory is the engagement of the employees into the scripted behaviours. This is in terms of exposing persuasive tone towards the other person. The main aim of this theory is creating impression of the other person. The goal here is to attain an advantageous position, where positive image is created on the other person (Kerzner & Kerzner, 2017). Theorists are of the opinion that the members of the individual groups play their respective parts. This is true in terms of the allocated duties and responsibilities to the members.
Classicaldecision makingtheory
According to the classical view, decision-making is conducted through the consideration of rationality. The theory is based on the following steps:
1. Obtaining the information
2. Evaluation of the information
3. Aligning the choice with the objectives
Obtaining the information about the problems and the issues, supports the personnel in gaining information about the approaches towards the issues. Evaluation of the approaches helps in reaching to the appropriate solutions for the complex problems. This evaluation aligns the choices provided to the employees with the identified and the specified objectives (Geisler & Wickramasinghe, 2015).
Conceptual framework
Fig: Conceptual framework
Impact of knowledge management ondecisionmakingprocess
Involving the employees in the decision making process enhances their knowledge, skills and competencies. Training results in knowledge transfer from the senior to the junior employees. Motivation and encouragement to the employees generates within them an urge to expose better performance. Training is one of the practices in terms of managing the skills and knowledge of the employees. Post training tests is assistance in terms of assessing the capability of the employees in terms of making practical application of the learnt skills in executing workplace operation management (Meihami & Meihami, 2014).
Methodology
Research philosophy
In a research, there are three types of philosophy- positivism, post-positivism and interpretivism. Positivism helps the researcher in projecting the scientific, real and objective knowledge related to the subject matter of the research. Post-positivism assists the researcher to bring out the consequences of the scientific and objective knowledge related to the subject. Interpretivism supports the researcher in terms of interpreting possible facts from the real, scientific and objective facts (Mackey & Gass, 2015). In this research, the researcher would select positivism philosophy in terms of establishing the real and scientific facts related to the impact of knowledge management on the decision-making process of Woolworths.
Research design
A research is conducted mainly through three designs- exploratory, explanatory and descriptive. Exploratory design assists the researcher to explore the unexplored realms of the subject matter of the research. Explanatory and descriptive design consumes much time (Taylor, Bogdan & DeVault, 2015). Therefore, the researcher would choose explorative design for exploring the factors, which influence the decision-making process of Woolworths.
Research approach
There are mainly two types of approaches, which are applied for conducting a research- inductive and deductive. Deductive approach is when the researcher deduces relevant facts, ideas and concepts from the already established facts. Inductive approach needs the researcher to create new theories, facts and ideas about the subject matter of the research (Flick, 2015). In this research, the researcher would select deductive approach for deducing relevant ideas, theories and facts from the collected data regarding the impact of knowledge management on the decision-making process of Woolworths.
Data collection
The data needed for completing a research is collected mainly through primary and secondary methods. These methods are subdivided into quantitative and qualitative. In primary quantitative, data is collected through the means of surveys. In primary qualitative, interviews are the sources, which help the researcher in completing the data collection process. In secondary method, data is collected through journals, articles and books on the subject matter of the research (Brinkmann, 2014). In this research, the researcher would choose both primary and secondary method for collecting data on the impact of knowledge management on the decision-making process of Woolworths.
Data analysis
Data collected for the research is analysed through primary and secondary methods. There are subdivisions- quantitative and qualitative. In primary quantitative and qualitative, responses of survey and interview questions form the basis for analysing the collected data. In secondary methods, relevant themes are prepared for analysing the collected data (Smith, 2015). In this research, the researcher would use both primary and secondary methods for analysing the collected data on the impact of knowledge management on the decision-making process of Woolworths.
Sample size
The whole population is directly or indirectly related with the research, however, in terms of coping up with the time and the financial constraints, the researcher selects a certain sample size for collecting data on the subject matter of the research (Brinkmann, 2014). In this research, the researcher would select 3 managers of Woolworths for collecting data on the impact of knowledge management on the decision-making process.
Sampling technique
The samples for a research are collected through simple, random and probability techniques. Simple and random techniques are devoid of any calculation, while probability technique is with the calculation regarding the proficiency of the samples about the subject matter of the research (Flick, 2015). In this research, the researcher would select the managers on the probability basis for testing their proficiency towards the knowledge management practices and their impact on the decision-making process.
Ethical considerations
Maintaining the ethics, makes the researcher capable for achieving loyalty, trust and dependence from the samples. For conducting a research, ethical consideration is crucial in terms of averting the illegal instances. In this research, the researcher would adhere to the terms and conditions of Data Protection Act (1998). This would help the researcher in protecting the privacy of the responses provided by the samples. Along with this, the researcher would assure the samples that their responses would be used solely for the purpose of research and not for commercialization (Taylor, Bogdan & DeVault, 2015). Apart from this, the researcher would refrain from the use of such websites, which needs subscriptions. This is in terms of avoiding the instances of plagiarism and collusion.
Activities | Week 1 | Week 2 | Week 3 | Week 4 | Week 5 | Week 6 | Week 7 | Week 8 |
Selecting the topic | ||||||||
Collecting information through library search | ||||||||
Developing aims and objectives | ||||||||
Literature review | ||||||||
Data Collection | ||||||||
Data analysis | ||||||||
Conclusion and recommendations | ||||||||
Evaluation | ||||||||
Making the necessary changes | ||||||||
Final evaluation | ||||||||
Submission and closure |
Timeline
Table: Gantt chart
(Source: created by the researcher)
References
1. Brinkmann, S. (2014). Interview. In Encyclopedia of critical psychology (pp. 1008-1010). Springer New York.
2. Epstein, M. J. (2018). Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. Routledge.
3. Flick, U. (2015). Introducing research methodology: A beginner's guide to doing a research project. Sage.
4. Geisler, E., & Wickramasinghe, N. (2015). Principles of Knowledge Management: Theory, Practice, and Cases: Theory, Practice, and Cases. Routledge.
5. Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
6. Mackey, A., & Gass, S. M. (2015). Second language research: Methodology and design. Routledge.
7. Meihami, B., & Meihami, H. (2014). Knowledge Management a way to gain a competitive advantage in firms (evidence of manufacturing companies). International letters of social and humanistic sciences, 3, 80-91.
8. Rosemann, M., & vom Brocke, J. (2015). The six core elements of business process management. In Handbook on business process management 1 (pp. 105-122). Springer, Berlin, Heidelberg.
9. Smith, J. A. (Ed.). (2015). Qualitative psychology: A practical guide to research methods. Sage.
10. Taylor, S. J., Bogdan, R., & DeVault, M. (2015). Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
11. Webb, S. P. (2017). Knowledge management: Linchpin of change. Routledge
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