Knowledge management approach Essay Example | Topics and Well Written Essays - 2500 words

Knowledge management approach - Essay Example Knowledge management implies any activity regarding the capture and the diffusion of knowledge within the organization. A key component of KM is to provide access to stored knowledge components in order to improve decision-making and facilitate knowledge acquisition by the user. The present essay is an attempt to introduce this innovative capital of modern organisations in a simple and lucid style. In the essay, the writer first, tries to distinguish the related concepts in the area of knowledge such as data, information etc, which are often misunderstood (used interchangeably with) as knowledge. In addition, an attempt is made to introduce the two approaches to knowledge management that capture and utilize knowledge. The essay prepared to examine the different of these two approaches. Specifically, it attempts to narrate the definition of these approaches and portrays both advantages and disadvantages of these two approaches. Finally, rather most importantly the report demonstrates how to apply theoretical concepts of knowledge management to NASA's JPL case study. One of the essentials of an effective knowledge management system is that the system must be able to distinguish knowledge from data and information so that information overload can be reduced/eliminated and its efficiency can be improved. An efficient knowledge management system accepts only those data that are relevant, timely, reliable and accurate. In the words of Liew (2002) data means the collection of facts or events and it is comprised of the basic, unrefined and unfiltered information, which are mostly useless. But, information is more refined data that is useful and meaningful for an analysis and decision making. In contrast, knowledge resides in the human brain and it happens when human experience is applied to data and information, therefore, knowledge is internalized which absorbed and understood by the human mind. In the modern business context, knowledge management can have a lot to perform to attain a competitive edge and thereby create value to the organisation. Knowledge management There are many interpretations as to what exactly knowledge management is all about. The definition put forward by Quintas P., Lefrere P. and Jones is worth notable in this context. They define knowledge management as "a continuously process of managing knowledge in order to ensure that knowledge is available when and where needed and can be acquired both from external sources and internal sources" (Quintas et al, 1997). It is worthwhile here to mention the definition developed by NASA for knowledge management. NASA defines "knowledge management as getting the right information to the right people at the right time and helping people create knowledge and share and act upon information in ways that will measurably improve the performance of an organization and its partners" (NASA, 2009). The procedures by which the objectives of KM can be accomplished include the following: As far as possible, everyone connected with knowledge management system should disclose what he/she knows and thereby facilitates knowledge sharing and its reuse. This will allow others to know when and where knowledge is available. Knowledge is made available at the time of decision making and it is the duty of the concerned personnel in an organisation that knowledge is

Planning Essay Example | Topics and Well Written Essays - 1000 words

Planning - Essay Example It is simply identifying the objectives of a company and finding the best ways of how to achieve them. Strategic planning starts from the desired end and its steps go backwards to get to the current status. On the other hand, long term planning begins with the current status and moves forward to meet the desired future needs. According to Adekola et al 2007, strategic planning looks at the big picture, and is flexible in determining its means as compared to other types of planning. At Michal Jones & Company strategic planning has been practiced in various ways. These ways include: pure planning and financial planning. Planning determines where an organization will be in the future, how it will get there, and how the organization will establish itself if it got there or not. Planning serves different functions in Michal Jones & Company. It has provided a clear focus for the organization, therefore, producing effectiveness and efficiency (Burtonshaw-Gunn et al 2009). Planning has also been the reason why the productivity of the organization has increased significantly due to increased effectiveness and efficiency. Planning has also been used in the solving of major problems in the organization. This is because a predetermined problem is solved before its occurrence due to effective and strategic planning. Moreover, at Michal Jones, planning has enabled the creation of a base for the company’s hence all deviations have been corrected to avoid major blows occurring in the organization. For effective planning to be established, the management at Michal Jones & Company has identified the purpose, which happens to be the key objective of the company. Lusthaus et al 1999 argues that, through the use of the organization’s mission statement elaboration has been made to the public and the potential buyers as a whole on what Michal Jones & Company seeks to achieve. The situation has been analyzed and is now an already existing program. Its defects are amended and the viable changes made. Alternatives present at Michal Jones & Company have been identified leading to a variety of ideas, activities, and solutions (Michael Jones & Company 2010). Creativity reigns in an effort to enhance brainstorming and members’ involvement in the formulation of the plan. The resources have been reviewed, and they have been listed down with regard to available time, money, human and physical resources (Paladino 2010). This ensures that the plan formulated conforms to the ability of Michal Jones & Company and not based on mere assumptions. Some of the impediments that have been witnessed at Michal Jones & Company with regard to effective planning are that planning leads to rigidity. This is because the set conditions may change, and this may contrast prevailing conditions at that particular time. When such a point comes by, flexibility is encouraged in an effort to negate the rigidity. Moreover, strategic planning is not easily facilitated in dynamic environments. Strategic planning also entails finances. No company or organization can be able to plan about the future without the knowledge of where to get the finances from (Reading 2004). In essence, finances go hand in hand with the planning strategy. At Michal Jones & Company, finances were solicited from the Banks as loan payable back in interest rates within a period of one year. Financial statements are very important in every