Challenges and Solutions to Organizational Knowledge Management in Essay

Challenges and Solutions to Organizational Knowledge Management in KBMS - Essay Example Basically, a knowledge base is a special kind of database for knowledge management. According to Bellinger, Castro, & Mill, knowledge is defined as the application of data and information; answers "how" questions. It deals with collection of information such that its intent is to be useful. In an organization, knowledge is used on the day to day basis in the running of the affairs of the company. Andriopoulos & Dawson (20) suggest that managing change, creativity & innovation is the most crucial aspect for organisations to survive as we move into a knowledge economy. Knowledge is used in the operations of the organization so that it can achieve its desired goals. The main challenge of managing knowledge is that it is not static given that it changes depending on the changes taking place in the environment in which the organization operates. During the contemporary period, it can be noted that organisations operate in a dynamic environment which changes on a daily basis. In order to keep pace with these changes, the organization ought to develop and manage knowledge that can be used in the operations of the company. Since knowledge is not static, it can be seen that what was previously regarded as useful knowledge to the organization may not be relevant in the future operations of the organization. Therefore, this is a challenge to the organization since it ought to upgrade its knowledge system periodically so as to be able to keep pace with the changes and developments that can take place in the environment in which it operates. This may not be an easy task since it may be difficult to predict what is seen as important in managing knowledge in the company. In order to deal with the above mentioned challenge, particular attention should be paid to continued learning in the organization which can help it to gain a competitive edge over other rival competitors operating in the same environment. According to Schultz (164), learning in an organization is

Strategic managenment Essay Example | Topics and Well Written Essays - 3000 words

Strategic managenment - Essay Example For example, a company may decide to lower the costs and prices of its products, in comparison to its competitors. An example is Wal-Mart, which is a chain of supermarkets and it is known to sale low cost products. This is when compared to its major competitors such as Target, Kmart, Meijer, etc. Because of its low cost products, Wal-Mart has emerged as one of the biggest and most profitable retailing units in the world (Babitsky and Mangraviti, 2013). However, this comes with a disadvantage. The main disadvantage is that Wal-Mart is forced to reduce the cost its production. This includes overhead costs such as labor, etc. Wal-Mart is a company that is known for paying its employees very low wages, and hence it has a high turnover. This is not beneficial to the company because it losses experienced labor or workforce. Another type of a competitive strategy a company may choose to follow is differentiation. This normally occurs through the various dimensions that are valued by the target customer of the organization. This is for purposes of commanding a high price or value for the product under consideration. Apple’s is a communications hardware company that uses this strategy for purposes of penetrating its target market (Gil and Reyes, 2013). Under focus, an organization would either choose to offer its products to a specific target market or segments within a market, or it may choose to offer its product to the entire market segment. A good example in this scenario is in the car industry. Mercedes Benz offers luxurious motor vehicle products to its target population. The people who can afford to drive these luxurious vehicles are the rich and the upper middle class people (Maria, 2012). This is the segment in which Mercedes Benz sales its products to. It is important to understand that the generic strategy developed by porter gives a reflection of the choices that a company makes, with the intention of gaining a competitive