• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12

Knowledge Management: Here to Stay or Management Fad

Extracts from this document...

Introduction

Knowledge Management: Here to Stay or Management Fad? Introduction The American Productivity & Quality Center (APQC) defines knowledge management as "the strategies and processes of identifying, capturing and leveraging knowledge" to enhance competitiveness (Manasco 1996, p.26). Knowledge management is concerned with the exploitation and development of the knowledge assets of an organisation with a view to furthering the organisation's objectives. It is generally considered that knowledge management has been widely accepted in businesses. However, it is nowhere near as clear whether knowledge management is another transient fad or something that is here to stay. A management fad is a short-lived idea that is important and accepted for a short time, but then fades either because it is not successful or because something else replaces it. Other business ideas last and become an important part of most organisations. The opinions on the status and importance of knowledge management vary widely. Holtham (1997) dismisses knowledge management as just another transient management fad that will soon fade and be forgotten. Skyrme (1999, p.84) describes a survey that found over half of European and UK managers thought that knowledge management was a fad. Ponzi and Koenig (2002) assume that knowledge management is similar to other management fads such as quality circles, total quality management and business process reengineering. ...read more.

Middle

Relationships that are based only on business transactions are fragile. Those that are built on genuine knowledge exchanges and helpfulness are stronger and more resilient. This is yet another reason that knowledge management is relevant to the current business environment (Nonaka 1991). Overall then, it can be said that knowledge management is relevant to the modern business environment. However, like all theories, its real effectiveness lies not in its theoretical value, but in the results it achieves. In turn, this depends on how well organisations are able to utilise it. This is where the issue of knowledge management becomes complex, because as will be shown, there are many factors that make applying knowledge management strategies a complex issue. Implementing a Knowledge Management Culture One of the first major complexities associated with knowledge management is that it is not something that can be implemented only at the higher levels of the organisation. Since every employee is a source of knowledge, knowledge management must be part of the organisation overall (Dearlove 2001). One of the common problems that occurs in knowledge management implementation is that the organisation ignores the people and cultural issues (Walsham 2001, p.599). In an environment where the individual's knowledge is valued and rewarded, establishing a culture that recognizes tacit knowledge and encourages employees to share is critical. ...read more.

Conclusion

But when you think about it, that is an incomplete picture of the value return for something as complex as a knowledge initiative. Financial measures only tell you about past performance - they say nothing about your ability to be successful five years from now. The bigger story about focusing on knowledge is how it can improve the underlying intangibles asset base of the organisation, where you are building capacity for the future. This improves human competence, supports innovation in infrastructure and operations, and builds trusting relationships with stakeholders. However, as long as an organisation is measuring its success based on old models and traditional return on investment measures, it may be completing missing the benefits and successes it is achieving (National Electronic Library for Health 2005). Conclusion With this analysis completed, several points have been made. The first important point is that knowledge management does have important benefits and does achieve the kind of outcomes that organisations are seeking in the current business environment. The second important point is that knowledge management is not simple and easy to implement. It is complex and has significant potential for success, but it does require thorough consideration and effective implementation. Whether knowledge management becomes a fad or an effective approach will depend on whether or not organisations are willing to take the time to make the knowledge management work. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. BMW Operations Management

    These same quality control principles also apply to their suppliers of materials and components, with all of BMW suppliers agreeing to work to specific specifications of quality. Once cars arrive in the distribution centre, they take on a quality check and have a full pre-delivery inspection before being delivered to the customer.

  2. What is the purpose of management theory? Explain how knowledge to understanding of management ...

    Repetition of the same function brings speed and accuracy, thus increasing output. If work is divided according to skill and technical expertise, each item of work can be given to the employee most able to deal with it. 2. Authority and responsibility.

  1. Teams and Teamwork for the 21st Century.

    Still have many managers strongly resist giving up the reins of power to people they view as subordinates, they see self-managed teams as a threat to their job security, therefore, self-managed teams need top-management support those include sufficient funds, autonomy, directly report to senior management.

  2. The Growing Power of Mentoring.

    a hands-on relationship, in which the mentor acts on behalf of the prot�g� - for example, by putting their name forward for challenging assignments. In effect, the role is a combination of guru and advocate. Among the many problems with this approach is that it is more career-focused than developmentally

  1. Performance management - Tesco's needs to mange the performance of its employees effectively if ...

    Satisfaction of these esteems produces feelings of self-confidence, prestige, power, and control. Once an employee at Tesco has managed to maintain his or her job and has been assured of their job security, whilst becoming socially active they begin to feel that they are useful and have some effect on their environment.

  2. Time Management

    Analysis An Analysis is where it is clearly identified how you are currently using your time. A summary of the time log, which was carried out for seven days, was produced to summarize how my weekly time is spent. Weekly Time Analysis Activity Hours Planned/ per week Unplanned TAFE 23

  1. A REPORT INTO HUMAN RESOURCE MANAGEMENT AT SAINSBURY'S

    In creating new jobs more detailed thought is required, particularly if the jobs are quite different from those that already exist. * Changing job roles within the business- Increasingly employers have sought to develop new jobs involving information and communications technology, and which involve ground-level employees taking more responsibility for decision-making through empowerment.

  2. Investigate about the important roles that management plays in achieving my chosen organisation aims ...

    Survival as a business: Planning and monitoring will help Tescos to achieve this objective by surviving as a business. Basically with planning, management can plan work according to the main objectives and overall targets of the business and prepare budgets for the different departments so that the money is spent according to each department's needs and overspending will be avoided.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work