Agree or disagree with the article Introduction The approach of the twenty first century has bought the recognition of how much value knowledge has in organizations, as being most strategic Custom Essay

Agree or disagree with the article Introduction The approach of the twenty first century has bought the recognition of how much value knowledge has in organizations, as being most strategic and an important source for sustaining competitive advantage and high organizational performance, (Prieto and Revilla, 2004; Schwaer et al.,2012). As global markets are on continuous changes, organizations success is measured on how much information and knowledge it has than its competitors, therefore the input of innovation and knowledge management has direct positive effect on the organizations performance. How Knowledge is effectively managed and contributes to create value? The input of knowledge Management in introducing competitiveness and performance improvement is very much acknowledged, yet the process of how knowledge is implemented and shared is to be researched, (Holsapple and Singh, 2001; Shahzad et al., 2013). Therefore organizations had invested on systems and processes supported by advanced technologies to create and circulate knowledge, (Yuetal. 2004). There are many factors which organizations require to consider prior to implement the knowledge strategy, one of them is the consideration of complex nature of knowledge as difficulties may occur not on the explicit of knowledge but the knowledge tacit. Organizations follows various approaches in tacit knowledge internally, 1. Transferring knowledge into explicit format, through documentation, process and database designs. 2. Developing the tacit knowledge through human interaction, with the human capital resources element in designing learning and development plans, Personal and career development plans, Rewards schemes and strong HRM. The positive inputs of knowledge in organization has the favourable impact on various sectors, A. Knowledge in Products and Services: Organizations prior to introducing new products and services; heavily invest on market researches to understand customers preference and market demands. B. Knowledge in People: Workforce which is the most valuable among the organizations assets, converting the individual knowledge into organizational through learning programmes which motivate personal development. C. Knowledge in Customers: Customers satisfaction is a strategic benefit for organizational knowledge, through creating strong clients/customers relationship management to have a deep understanding of what customers desire, wish and prefer. That would assist organizations in improving its products and services. D. Knowledge in Process: Organization might have the same level of knowledge however applied differently as every process has an embedded knowledge which elaborate and expresses the experience, personal knowledge and skills of the individuals who designs the process. E. Knowledge in Relationships: Helps in widening the scope of relationships in sharing knowledge and having depth understanding, improve the flow and circulation of knowledge and builds new connections. Taking examples of companies applied the knowledge in people, is the Dutch oil services giant, SHELL. Where the organization encouraged the empowerment and teamwork as it utilized the intellectual capital, developed regional excellence centres for personal development, knowledge communities and developing skills, building online educational platforms for staff. These knowledge initiatives had helped in removing the hierarchical and formal steps of communication. Processes and Systems supports knowledge The objective knowledge systems and process, builds an integrated and planned channels to develop and ease the access of knowledge, (Firestone,2001). As it is important and related to individual and organizational performance; it should be exposed to teams, groups and everyone within the organization. Social media for instance, had been proven lately its direct influence on knowledge sharing and processes within organizations, (Chow and Chan, 2008). Referring to Nonaka and Takeuchi (1995) as identifiers to the SECI Model as it adopts four stages for sharing knowledge which are socialization, externalisation, Combination and Internalisation. These such models assist in the share of knowledge with people to formulate new ideas and concepts where it becomes explicit knowledge. Reference Shahzad, K, Bajwa, S, Siddiqi, A, Ahmid, F, & Raza Sultani, A.(2016), Integrating knowledge management (KM) strategies and processes to enhance organizational creativity and performance: An empirical investigation, Journal Of Modelling In Management, 11, 1, p. 154-179, Scopus?, EBSCOhost, viewed 26 March 2016 Al-Hakim, L, & Hassan, S.(2016), Core requirements of knowledge management implementation, innovation and organizational performance, Journal Of Business Economics And Management, 17, 1, p. 109-124, Scopus?, EBSCOhost, viewed 26 March 2016. Dierkes, M. Berthoin, A. Child, J. & Nonaka, I. eds. (2003) Handbook of organizational learning and knowledge. Oxford: Oxford University Press.

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