Keeping the above example in mind, we see that the personalized knowledge takes precedence over codified knowledge in many organizations. There technology or IT takes a backseat when the improvement of that organization through knowledge utilization is concerned. Knowledge is an asset. Nevertheless, not all knowledge is valuable. Hence, it depends on the individual companies to decide which information qualifies as knowledge-based assets. In general, however intellectual and knowledge based assets fall into one of two categories: explicit or tacit.
There is enough evidence of many companies who have benefited from KM strategies. On the basis on these experiences, experts in the field of KM hold that, for organizations to be successful in today’s competitive world, they continuously need to engage in two activities: 1. Search for and identify effective ways to translate the organization’s accrued experience into knowledge (By taxonomically structuring that knowledge and by building keywords, which would facilitate effective retrieval of that knowledge)
2. Transferring and sharing the knowledge with other companies and institutions across time and space (Through the available technologies). While sharing the knowledge it is necessary to consider some issues, which are as follows:- – Find a method for transferring the knowledge to those who can reuse it. – Translate the accrued experience into a form that is usable by others. – The receiver of the knowledge would be able to adapt that knowledge so that it can be used in another context.
– Then there is the process whereby the receiver or user of the knowledge will reiterate it and again this experience goes into KM system to be utilized in a future learning situation. In a paper titled “The Secret to KM Success” Megan Santosus of CIO Magazine has reviewed Jeff Nielsen’s new book on leadership. In this book, Neilsen “emphatically states that hierarchical organizations are the enemy of successful knowledge management.
” (Santosus, 2008) Jeff Nielsen is a business consultant who specializes in strategy, organizational development and training. In his book “The Myth of Leadership”, which happens to be an outgrowth of his doctoral work, he proposes a new management paradigm “one that eschews hierarchy and rank-based leadership in favor of peer-based thinking” which according to him should be the future of business.
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