Delivery in day(s): 3
Knowledge and Information Management System Assignment Help
Knowledge management system is all about systematic method of sharing, capturing, establishing information’s in the proper manner so that organisations can be readily benefitted with the knowledge which is being provided. Under this case study, it expresses about importance of knowledge management system and then significantly analyses the knowledge procedures which are followed in the national bank of Elbonia. Thereby I have further discussed about the initiation of the source and followed by the target goals, the amount of risks associated with banking sector.
To describe and critically analyse the knowledge processes
According to Ruggles, Knowledge management system refers to the technologies which support the management of knowledge in different organisations which includes generation of knowledge, codification and the transfer. So it is very important to take a look about the entire system of knowledge management system which is operated in the National bank of Elbonia. The main objective of this is to create their worth and thus helps to gain a competitive advantage.
It is with the help of such knowledge management system, that organisations, service sectors, banking sectors are getting benefited. In the context, the knowledge management system was being executed with the view of providing the consumers a relief from the traditional way of using transactions to the modern and upgraded system. It was done with the view that customers can readily use such banking facility in their mobiles with the readily availability of the internet facility, as well in the bank with a total self service procedure. This will help the time as well the satisfaction among the users. They readily planned in the next months to implement certain marketing strategy based on the knowledge management system.
The implementation of different strategies of marketing in the National Bank of Elbonia will be requiring knowledge.
The models that are utilised for this purpose to analyse the situation are as under,
Knowledge Mapping –These are considered efficient tools for the recording of National Bank of Elbonia’s critical knowledge as well as particular situations that might be considered to be at danger. The creation of Knowledge Maps occurs to reveal the weak links as well as bottlenecks that are associated with the flow of knowledge. By articulating the method through which knowledge flow in National Bank of Elbonia, the teams will have the ability for providing opportunities for the development pf identification and to make adjustments of focus to make sure that the right knowledge will reach the right people at the correct point in the process. (Thakur, 2016)
Knowledge Audit –To develop a right image in which processes National Bank of Elbonia is trying to manage its knowledge as well as assets of knowledge to understand motivation and incentives in respect of knowledge exchange. After that, there occurs the aspects associated with scoping and planning, fact finding and to analyse as well as interpret.
Knowledge Inventory –This is related with taking of stocks to identify and locate knowledge assets around National Bank of Elbonia. This will consider explicit and the knowledge sources which are very difficult to locate. (Thakur, 2016)
To analyse the situation in the case study, the methodology that has been chosen is of Knowledge Audit.
To develop a lucid image of the processes by which National Bank of Elbonia will manage its knowledge and knowledge assets knowledge to understand motivation and incentives in respect of knowledge exchange. In this regard, an appropriate knowledge audit will take into consideration tacit knowledge and information regarding the implementation of marketing strategies in National Bank of Elbonia. There is the need for assessing the requirements of knowledge and the knowledge sources inside National Bank of Elbonia. This can be explained with certain points that are mentioned as under,
Scoping and planning –It explains to what extent and depth should the audit in respect of the marketing strategy for National Bank for Elbonia exist and the areas it need to cover and how much effort is required for investment. (Thakur. 2016)
Fact finding –The major activity that involves collection of data associated with the requirements of knowledge, accessibility as well as quality of knowledge, knowledge flow, obstructions in relation to the marketing strategy for National Bank of Elbonia.
Analysis and interpretation –For identifying the areas for critical knowledge that requires more attention in respect of the marketing strategy for National Bank of Elbonia.(Thakur, 2016)
Developing deliverables –These considers lists as well as characteristics associated with sources and knowledge resources. The outcome of an audit will be to feed into a KM strategy and action plan for the marketing strategy for National Bank of Elbonia.
Stimulating action –This stage is associated with outcome integration for audit into the continuation of the KM action plan for the marketing strategy for National Bank of Elbonia.
Difference between knowledge and information
1. Information is processed data whereas knowledge is information that is modelled in respect of productivity.
2. Information deals with the process by which there is association of data whereas knowledge does the evaluation of the patterns inside a given set of knowledge. (Thakur, 2016)
3. Information is not requiring any cognitive ability whereas knowledge is requiring some cognitive and analytical ability.
To analyse the process, the models that might be used are,
Asia Development Bank
Knowledge Flow Notation
Taxonomic – Alavi & Leidner
The success of the national bank of Elbonia is mainly dependant on how such knowledge system is being managed and gained. At the national bank of Elbonia, there are mainly three primary sources with adequate amount of risk associated with them:
Understanding the relationship between the knowledge management and alliances:
The national bank of Elbonia was established to provide a proper synergy between the employees and providing proper service to its users. The national bank of Elbonia mainly created certain strategies for depicting the framework of knowledge management system:
The three main stages which are being followed by the bank of Elbonia are as follows:
Valuation of Knowledge: under this stage the most important task is identify if it is cumulative or harmonizing. This has helped the bank of Elbonia to fully align its objectives. And once this objective of proper alliance and diligence is being completed, it is followed by another stage. At the bank of Elbonia, the main purpose was to implement proper methods of new KM system .the main purpose was to preserve among its users a trust factor which will help the bank to upgrade in the modern way of handling things. The national bank of Elbonia being a centre point of capturing proper retention of employees. Its main aim is to preserve its users and help in providing the modern type of knowledge system which will not only help the service users in managing their accounts , but will also help the employees in providing value added services . (Thakur ,T 2016).
Integration of Knowledge:under this stage, the national bank of Elbonia takes the decisions for proper collaboration (alliance) or managing (acquisition) which will help in the integration stage. Under this stage the bank of Elbonia establishes an iterative model for interpreting the knowledge plans through the expansion of KPI’s, strategy empowerment and the co – ordination of various teams to attract the knowledge. The National bank of Elbonia, being able to implement such system of KMS, there exists some amount of difficulty as well, since it is not always possible to document each and every factor as per the rules and regulation. (Rao, 2012)
Synthesis of knowledge: at the national bank of Elbonia, after adopting such KMS , the basic purpose was to blend the various kinds of modern type of system available like e- banking , automated environment etc .The process of knowledge helps in providing proper support and also in generation, transfer, codification and application of various personal knowledge in the process of creating certain principles:
Codification: under this it is very important that the information’s are being properly collected from the service users and then analysing before turning into a productive one .Under this stage the conversion of such knowledge is being subdivided under two stages namely application and its proper transfer. (Thakur ,T 2016).
Application: it is not a drawback for the national bank of Elbonia for not having such knowledge of properly using the value generation process of such KMS. But it is considered to be a negative aspect if the employees are not aware of such KMS. Especially in case of the national bank of Elbonia, where the employees were not able to fully understand about the system and it caused many misunderstanding among them.
Transfer of knowledge: Sharing of knowledge is considered to be one of the basic factors for such success. In the bank of Elbonia, the employees were not able to properly understand the working of the new change system brought through KMS, which made it difficult to properly implement the functions accordingly. (Rao, 2012)
Target and flow of knowledge and information in the situation
The National bank of Elbonia could have used this model of European foundation for Quality Management (EFQM). In this model the flow of knowledge is being divided into certain concepts which are as follows:
Orientation of results :The rate of Excellency is fully dependant in successfully balancing and ultimately gratifying the need of all the employees as well as the service users. In this scenario, at The national Bank of Elbonia, it is expected that if there exist proper implementation of Knowledge management system, there is bound of have proper results and the entire bank will be benefited. (Thakur ,T 2016).
Focus on the customers: The consumers are regarded as the final and the end users which provide useful service and loyalty to consumers, proper retention and gains in market share are being best projected by getting a clear idea of the need and wants of the customers. Here at the bank of Elbonia, a modern KM system was being devised, so that new system like e- banking system, new system of automatic in the banking operation can be catered which will help the customers to entrust its confidence on them.
Proper leadership and stability of purpose:It is the responsibility of the higher authority to properly manage its employees and look after their problems and difficulty. At the national bank of Elbonia , the authorities readily implemented the change of KMS . But it didn’t make any discussion with their fellow team members, which is a sheer negative aspect in the leadership. (skyrme.com, 2016).
Managing people by processes and facts:It is important that the employees in an organisation perform the activities effectively without any complain, for this it is important to understand each factors of the KMS properly. Customers and employees are the main foundation at Elbonia bank, so it is very important that they should be properly nurtured. (Thakur ,T 2016).
People development and their co-operationWith the co- operation of the team in the bank of Elbonia it is not possible to manage all the accounts. So it is the responsibility of the managers and leaders of the bank that after implementing such change, it should readily provide training to the employees so that they can efficiently lead the change which is being brought about.
Community Responsibility:Banks always want to make a long term relationship with its customers, so for that it has to use some amount of effort for preserving such customers’ .At bank of Elbonia, it readily installed and implemented new KMS system which the view that it will help the people in the transactions more easily .
(Cheryl , 2016).
Identifying the gaps
At any organisation it is very important to identify the gap, which has happened due some due course of time. In the bank of Elbonia are a lot of gaps which has been identified
Communication gap: when, the authorities of the bank of Elbonia , before implementing such KM system should have informed the staffs and making them aware about the KM system ., its operation , how it can be used , the benefits etc . But in this case, there was a miscommunication among the employees and their employers.
No proper training: the national bank of Elbonia was with the view of implementing a advanced way of bank services which will make the customers more efficient in their way of transactions. But the employees or staffs of such bank were not trained as to how such system will be properly functioned.
Inadequacy of technology: the employees at The National Bank of Elbonia were not provided with adequate desktop from where they can operate the transactions. So this causes delays in the delivery of work, insufficient knowledge about the e –banking made even situation worst. (Rao, 2012)
Therefore it is necessary for the management to properly look into the matter so that there shouldn’t exist any kind of gap or miscommunication in such banking sections. And the problems which are being faced should be readily eradicated.
Shortcomings and risks
It is often being seen that all the prospects which is being applied under KMS, don’t fully support it, but rather the implementation of such system has some risks and short comings as well:
Too many model implementations:
The national bank of Elbonia, implemented a series of plans all together which was , firstly it implemented the e – banking system , followed by designing a new branch which will be the pilot branch , providing solutions , better transaction facilities to the customers easily , allocation of marketing strategy with a new system of rewards . All these were implemented within a short span of 6 months, which was not feasible for many staffs, it was important to chalk out proper objectives first, rather than executing such plans.
Poor KMS objectives: At Elbonia, the main objective was to implement a new technique of change which will benefit the consumers and it will increase the reputation of the bank. But the scenario was totally opposite; the higher authorities of such bank didn’t propose the aims of such KMS implementation. Rather it stressed greatly on acquiring more customers rather on the purpose .
Poor availability of technology: In such places like bank, it is expected that there would be prompt supply of technology, since the E- banking system was being automated it was expected that the employees will be readily provided with the new forms of technology like the desktop. But it the authority at the bank of Elbonia failed to provide such service. It affected the entire transaction process at bank.
Poor change management: The implementation of KMS was being introduced with the aim to provide better and first class service to its customers. But rather it failed to encounter such change, since the process and the technology was not properly provided to the employees. (Gordon, Grant, 2013)
Employee turnover: Due to the adoption of such knowledge management system, there resulted a couple of reasons: Firstly, the employees were not made aware of implementation of such knowledge management system .secondly, the employees were not provided with any type of training for the better understanding. Thirdly, there was no proper line of control; the employees were not given proper importance. This resulted the employees to take more unsick leave, and other sick leaves and more amount of absenteeism followed.
Improper organisational control: in the bank of Elbonia, due to lack of planning, the bank faced a lot of problems, the foremost being improper method of handling the organisational structure, concentrating only on customers and not on the internal employees. (Gordon, Grant, 2013).
In this case study of knowledge management system, where i have learnt about the importance of knowledge management system, their advantages, disadvantages. in this , i have given a scenario about The national bank of Elbonia , an virtual bank , where I had learnt about the source of such knowledge , their analysis and followed by their strategies and different models which could have been used to improve the efficiency of the organisation . Moreover I have also learnt about the risk which might have taken place and the shortcomings along with it.
Gordon, R. and Grant, D., 2013. Knowledge management or management of knowledge? Why people interested in knowledge management need to consider Foucault and the construct of power. Tamara: Journal for Critical Organization Inquiry, 3(2).Rao, M., 2012. Knowledge management tools and techniques. Routledge.
Sedera, D. and Gable, G.G., 2010. Knowledge management competence for enterprise system success. The Journal of Strategic Information Systems,19(4), pp.296-306.
skyrme.com, (2016). Knowledge Management : the next steps .online available at http://www.skyrme.com/pubs/kmcons.htm . Accessed on 7/6/2016.
Thakur ,T (2016). Building and Sustaining Knowledge Management Systems .Online availableathttp://xtendedview.com/technology/knowledge-management-systems/2169/.Accessed on 6/7/2016.