• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Knowledge Management: is this the next step in the evolution of management theory?

Extracts from this document...


Topic: Knowledge Management: is this the next step in the evolution of management theory? Content 1) Introduction P.3 2) Knowledge Management P. 3) The Evolution of Knowledge Management P. 4) Conclusion P. 5) Bibliography P. 6) Reference P. Introduction We are now in the information age that knowledge is an indispensable tool. Knowledge gives every organization a sustainable competitive advantage. Knowing that knowledge or to manage knowledge is not an easy task, organizations are aware that it is necessary to manage knowledge in a more systematic and effective way. On the other hand,, the subject of management has been studied over the centuries. The roots of modern management lie in the 'machine age' of the nineteenth century, though the practice of management has far beyond historical antecedents. When we are into the twenty-first century, the machine age is fast being replaced by the 'information age'. The new era represents revolutionary challenges to the way managers manage. The more advance of the information age, the more questionable becomes the traditional practices and precepts of management. In order to have a fully comprehensive knowledge of modern management, the work of the machine age of management creators such as F. W. Taylor (1856-1917), H. ...read more.


(2) Quite simply, knowledge management is a process through which organizations develop, organize and share knowledge to achieve competitive advantage. (3) Intellectual Capital is a related concept, based on the view that the real market value of a commercial enterprise consists not only of its physical and financial assets (its 'book value') but also its intangible assets created through intellectual activities, ranging from acquiring new knowledge (learning) and inventions to creating valuable relationships. Intellectual assets thus include things such as patents, copyright and other forms of intellectual property, which are often estimated to be worth many times the book value. Leif Edvinsson, Director of Intellectual Capital at Skandia, the Swedish insurance company, defines intellectual capital as "the possession of knowledge, applied experience, organisational technology, customer relationships, and professional skills that provides Skandia AFS with a competitive edge in the market". Currently, knowledge management is a buzz-phrase that it starting to occur more frequently in many publications and conversations. It is a phrase that has been around for years. In the years leading up to 2002, knowledge management has been going through phases of maturity (Sveiby, 2001). ...read more.


If knowledge, skills and learning abilities are not renewed, the capacity of individuals and by extension, of communities or nations to adapt to a new environment will be considerably reduced, if not cut off entirely. Knowledge management is a survival issue, and is certainly the next step in the evolution of management theory. The future challenge in this area is to develop tools to enable tacit knowledge to be made explicit in an easy and effortless manner. One approach may be the development of multimedia technologies such as digital video that capture and store an individual's 'know how' for storage, indexing and future retrieval via a search engine. No doubt, the importance for persons to continue learning throughout their active working life, and even beyond, will increasingly move to the top of individual, national and international agendas in the future. To conclude, the knowledge and skills of management are just like a bag of golf clubs. When the situation demands, it is necessary to take the appropriate clubs whether a custom fitted golf club, a putter or a wedge and put to work. New knowledge and skills can occasionally be added to the managerial bag of management when, and if required. ...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. The relationship between management theory and practice.

    The human relations or behavioral school, in contrast, considers the people within the organization - their social needs, motivation and behavior. The fundamental idea behind the human relations approach to management is that people's needs are the decisive factor in achieving organizational effectiveness.

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

    In the levels of the five basic needs, the person does not feel the second need until the demands of the first have been satisfied, nor the third until the second has been satisfied, and so on. Maslow's basic needs are as follows: Physiological Needs These are biological needs.


    Mentoring This involves the trainee being 'paired' with a more experienced employee. The trainee carries out the job but uses the 'tutor' to discuss problems that may occur and how best to solve them. Apprenticeships In the past, business took on 'trainee' workers.

  2. GCSE Applied Business - Strand B Theory

    IT is used in businesses in many ways. Such as: * To Store information about products on databases * To make calculations such as working out the profit using spreadsheets. * To provide advertising using computer graphics packages. * To process information and other document's using word processing programs * To communicate internally by fax, e-mail and other

  1. Strategies for Change Management

    However, I believe that Carlzon did one thing differently which will add to the possibility that this strategy will lead to long term gains; he went to the frontline employees from the beginning and got their input. Instead of using a guiding coalition to implement necessary change, his style removes

  2. Time Management

    P Driving 9 P Lunch Break 6 P Dinner 4 P Breakfast 3 P Sleep 65 P Study 15 P Working 6 P Rest 7 U Socializing 30 U Total 168 Pie Graph of Weekly Time Analysis Most of my time is spent on sleep; this is approximately 38% of my time.

  1. Free essay

    Principles of Scientific Management

    Part of the manager's role is also to up skill existing employees based on their performance reviews.

  2. What are the main features of the Organisational Culture of Management within The Technical ...

    All questionnaires were completed. Mean values for responses were calculated for 20 staff members, 10 were foreigners from UK, and 10 were foreigners from Arabic speaking countries. (There were no local members of the lecturing staff from UAE. In order to help aggregate the data into an entity, mean values were used.

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