Identifying the Components of a Knowledge Management Strategy

Electronic Journal of Knowledge Management

Nowadays, knowledge is considered a key resource for organizations, crucial for obtaining long-term sustainable competitive. In line with this principle, many organizations are making efforts toward the implementation of knowledge management (KM) initiatives, recognizing that their competitive foundation lies in the effective way to capture, retain, store and share knowledge. Although companies are increasingly competing based on their ability to effectively manage knowledge, there are still numerous challenges for organizations that intend to implement a KM system. Thus, for a successful implementation of KM in organizations, it is crucial to understand which factors are critical for the effectiveness of KM processes and lead to competitive advantage. Although there are many studies related to critical success factors of KM, few bring together the CSFs in a systematic and extensive manner. This paper aims to have a comprehensive and up-to-date view of the critical factors that lead...

International Journal of Knowledge Management, 2020

Over of the past several years, there have been rigorous discussions about the significance of knowledge management (KM) within the organization and the society. The management of knowledge is endorsed as a significant and essential factor for organizational existence and maintenance of ambitious strength. This article provides an in-depth knowledge of factors affecting KM. Literatures from 1992 to 2018 are covered in this article, 169 research papers have been explored which are related to classification of knowledge, factors affecting KM, KM tools and its planning & application. Various frameworks related to the successful implementation of KM and KM implementation tools proposed by previous authors are presented in this research article. KM is defined, classification of KM is presented, factors affecting KM are shown and its implementation strategies & tools are elucidated in available literatures in discrete manner.

Long Range Planning, 1997

Knowledge can be seen as a key source of advantage. Its importance has been recognized for a long time. Some scholars have realized that information can create wealth. What is happening today is that there has been a qualitative change in the way in which vast amounts of data can be collected and communicated. The risk is of information overload. To help avoid this, a discipline is needed which can distinguish between data and knowledge, can find ways to reduce the overload and can organize itself.

Journal of Knowledge Management, 2002

As companies start to engage with the knowledge economy, they have to shift their mindsets to understanding knowledge management more holistically and, more importantly, understand the role of knowledge management as it pertains to sustainable competitive advantage. It requires companies to think of age-old concepts in new ways, and necessarily requires deep insight into the enablers of business success within the company, and then creative insight is required to reveal the new possibilities. This paper, drawing on resource-based theory, provides some guidelines for companies to develop business strategies, critically dependent on knowledge management initiatives. A chain of sustainability is introduced and three insightful concepts are highlighted (complementary resource combinations, strategic architecture and pool of resources); however, they do not tell companies specifically what to do, but robustly explain what the requirements of a knowledge strategy are, if they want to attain, and sustain, competitive advantage.

2012

The purpose of this study is to explore the knowledge management, how the knowledge is shared between the members of organization and to identify the different dimension of KM. This paper is qualitative in nature and author has conducted in-depth review of previous researches to formulate a conceptual framework that can help achieving the purpose of this study. Author has revealed from the discussion that in the fast revolutionized business world of today, development of KM has become the foundation of organizations. The complexity of development has been improved by expansion in the amount of knowledge available to organizations. Future research should contain of high degree of study to analytically examine the successful project knowledge management in different types of plans, companies and commences. Keywords: knowledge Management, innovation, Project Km, knowledge outsourcing, information technology and knowledge sharing.

This paper is to discuss a knowledge management strategy map based on Kaplan and Norton's strategy maps. In this way, KM strategies are reviewed first and then Kaplan and Norton's strategy map concepts are introduced as an overall methodology for extracting KM strategy maps. The required context will be explored for deploying both knowledge creating and knowledge application strategies in the organization based on four balanced perspective of knowledge management considered in this paper. The authors determined these four issues as balanced dimensions in the knowledge management strategies. These balanced dimensions are intellectual capital, KM processes, value creating dimension and KM performance dimension. Finally, a list is determined that includes various measures for each perspective. The identified critical success factors of the four balanced dimension can also act as a guideline for KM experts in the organizations. This helps to ensure that the essential issues are covered during design and implementation phase of knowledge management strategies.

Research on the effect of KM strategies on KMP has yielded conflicting findings in different contexts [8], [18], [19] and [20]. For example, certain studies [8] and [19] propose that the internally system-oriented KM strategy provides firms with a competitive advantage because people can easily access and acquire codified knowledge from internal rather than external sources. However, other studies [18] and [20] indicate that this strategy has the opposite effect. The basis for those studies' conclusions is that overreliance on codified knowledgeoriented strategy results in internal knowledge losing its integrity and the causal connections between organizational knowledge and firm-specific contexts in which knowledge is applied because codified knowledge in electronic form primarily contains basic and general information rather than new insights or creative ideas. Thus, prior studies have not fully resolved such conflicts, as summarized in .

Access Journal - Access to Science, Business, Innovation in the digital economy

The application of knowledge management (KM) strategies help determine how an organization manages knowledge, data, and the use of information. Some scholars suggest that KM systems are vital for securing and maintaining organizational success; others assert that a company's KM system should strongly reflect its internal competitive strategy. The main purpose of this study is to make a distinction between strategies and systems and to articulate distinct KM strategies. While previous researchers have detailed what a KM system should embody, scholars have yet to compile and express the nuances of KM systems available for execution into actual strategies. This qualitative, literature review outlines four KM systems (KM Reward, Tacit Collection, KM Integration, Social Media KM) and their respective strategies. The result of this paper provides practical pathways for organizations to identify appropriate KM strategies for KM systems. We answer the following research questions: • What are the knowledge management systems? • What is the best knowledge management system for organizations to use? • What are the outcomes of knowledge management system best practices?

Romanian Economic Journal, 2014

into the organization, enhancing the performance of the system and processes. However, organizations need to see knowledge management as a strategy, because knowledge is the key to making the right decisions in guiding the organization. One of the key benefits of approaching knowledge management strategy within organisations is its positive impact on organisational performance, ensuring not only the survival during crisis but even providing a competitive advantage.

Journal of Enterprise Information Management, 2010

PurposeThis paper presents results from a large comprehensive global survey of knowledge management (KM). The question that this paper looks to answer is how a KM strategy can be developed that will enable its successful management in organisations of many sectors and sizes. In light of the observed developments since the previous knowledge management surveys, the purpose of this paper is to redefine the KM function, and how it should be performed.Design/methodology/approachThe research instrument was a global online hosted survey answered by nearly 700 participants. Hypotheses on the KM management process in contemporary organisations, emphasising the importance of strategy, cover this work. These hypotheses are tested by a set of questions and supported by the survey responses.FindingsIt is demonstrated that in many organisations technology has failed to have much impact on the way knowledge is transferred and shared.Research limitations/implicationsIt should be noted that no cont...

The study of knowledge is as old as human history, it has only been recognized in the last decade as a crucial element of the industrial development of firms.The ability to store, capture, and disseminate knowledge within and across organizational boundaries has challenged managers for many years. However, as product lifecycles have reduced and environmental volatility has increased, the need to manage knowledge is intensifying, particularly across the value chain. Firms view knowledge and knowledge management as part of their strategic orientation. The concept of knowledge Management (KM) as a powerful competitive tool has been strongly emphasized in many strategic management literatures, yet the sustainability of the competitive advantage provided by KM capability is not well-explained. Knowledge represents a vast potential for gaining sustainable competitive advantage. Knowledge Management (KM) is a process of capturing, development, storage, retrieval, and dissemination of information and expertise within an organization to support and improve its business performance. It refers to a multi-disciplined approach in achieving organisational objectives by making the best use of knowledge. Success in today's global, interconnected economy springs from the fast and efficient exchange of information. Sustainable competitive advantage is no longer rooted in physical assets and financial capital, but in effective channelling of intellectual capital Organisations believe in managing their intellectual resources and capabilities in order to become and remain competitive. To this end, knowledge management (KM) has become a fundamental concept for those interested in the ever-changing events of the business world. Organizations invest heavily in building KM systems. They must strategically assess their knowledge resources and capabilities, and need to establish their knowledge strategy to sustain competitive advantages. By creating a nurturing and " learning-by-doing " kind of environment, an organization can sustain its competitive advantages. In this backdrop the present study is an endeavour to examine the importance of knowledge Management (KM) in creating the competitive advantage and to add fresh insights into the existing arena of Knowledge Management "In post-capitalism, power comes from transmitting information to make it productive, not from hiding it."(Drucker,1995)

Prabandhan & Taqniki-Management Research Journal, LNCT-MER, Indore. Volume 1, p. p. 174-178.

This paper highlights different aspects of knowledge management and how it can be used as strategic tool for developing competitive advantage. Prabandhan & Taqniki-Management Research Journal, LNCT-MER, Indore. Volume 1, p. p. 174-178.

2011

Knowledge has become one of the most important driving forces for business success. Organizations are becoming more knowledge intensive. Many firms in the global market are aware of this, and they try to explore the field of knowledge management (KM) in order to improve and sustain their competitiveness. Knowledge has always been the central in the functioning of society. However, in today's "knowledge economy", organizations are increasingly aware of the need for a "knowledge focus" in their organizational strategies as they respond to changes in the environment. The aim of this paper is to describe the theoretical concepts and approaches of KM process that could be implemented in organizations by reviewing KM process theories and present suggestions for what a general process should include based on analysis of various models presented in KM. The main emphasis is laid upon the concept of goal definition review, validation, and knowledge training processes in order to make sure that KM process initiative will deliver competitive advantage to the organization.

International Journal of Research in Economics & Social Sciences, 2012

In the industry era, organizations improved their efficiency, effectiveness through automating manual labour and reducing redundancy. In this Information era, success depends critically on the quality and effective management of knowledge which becomes the life blood of an organization. Knowledge has been described as information combined with experience, context, interpretation and reflection. Given the importance of such an asset, it is not surprising that organizations everywhere are paying attention to knowledge exploring what it is and how to create, transfer and use it more effectively. Knowledge Management (KM) has blossomed into a strategically important area for most organizations to gain competitive advantage. The knowledge-based perspective of the firm (Cole,1998) postulate that knowledge assets produce long-term benefits such as competitive advantage and sustainability in the face of a fluctuating economic climate. According to Gartner report, from 2006 to 2010 organizations will continue to invest in KM as one of the critical competencies in high-performance workplace (HPW) initiatives. A survey by Reuters found that 90 per cent of companies that deploy a Knowledge Management (KM) solution benefit from better decision-making, while 81 per cent say they notice increased productivity. It is found that, while 26 per cent of knowledge in the average organization is stored on paper and 20 per cent digitally, an astonishing 42 per cent is stored in employees' heads.This paper discusses how to manage knowledge effectively. In its introduction part, it gives light on the difference between data, information and knowledge. The paper gives light on 4 C’s framework of knowledge management. It concludes with suggesting road map for managing the knowledge effectively by identifying key success factors for knowledge Management.

2009

Evidently, there is a strong competition among organizations and rapid changes in business surroundings. Therefore, the organizations start thinking of developing their performance and processes. In this regard, Knowledge Management (KM) processes have turned out nowadays to become an organization strategic resource to the extent in which KM is viewed as a base of success or failure. The aim of this paper is presenting a conceptual KM process framework. It mainly emphasizes on developing phases such as knowledge infrastructure, knowledge combination, knowledge filtering, knowledge repository, knowledge sharing, knowledge application, and finally, knowledge performance across the KM process. The paper describes a more valid process to Improving Knowledge Performance.