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Knowledge Management

Essay by   •  October 18, 2016  •  Research Paper  •  2,867 Words (12 Pages)  •  1,142 Views

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                                                                     Course

                                                        Knowledge Management

                                                    Nova International College

                                                 

                                                   Delta International University

                                                                Assignment #1                                                                  

                                                                 Submitted By

                                                                 Anil Shrestha

                                                                       

                                                                  Submitted To

                                                                 Sandesh Aryal

                                                               Course Instructor

                                                       

                                                    Submitted for the degree of

                                              Master of Business Administration (MBA)

                                                               

                                                                Kathmandu

                                                         23rd September 2016

Knowledge Management

Knowledge management is the process that include a way of applying systematic approach that organizations create, capture and make reuse of knowledge to achieve organizational goals or objectives. It is considered as relatively new discipline.

It is the systematic and deliberate process of coordination of an organization’s people, technology, process and structure so as to add value through creation, sharing, reuse and applying knowledge.

Concept Analysis of Knowledge Management (KM):

Concept Analysis refers to the activity where concepts, their features and relations to other key concepts are clarified.

The concept analysis approaches is based on three dimensions of a given concept:

  1. A list of key attributes based in definition, vision, or mission statement,
  2. A list of illustrative examples,
  3. A list of illustrative non - examples.

KM Concepts:

1) Information:

Information is the process of data processing. It is interrelated data. Information is equivalent to finished goods produced after processing the raw material. The information has its own value in decision making. Information brings clarity and creates an intelligent human response in the mind. 

As per Davis and Olson: “Information is a data that has been processed into a form that is meaningful to recipient and is of real or perceived value in the current or the prospective action or decision of recipient.” 

Information (short form as info) is something that informs. In other words, data and knowledge that have been categorized, analyzed, summarized, and placed in context in a form and structure that gives meaningful definition.

Information is a concept of interest to many other disciplines, including information science, information management, marketing, knowledge management, communication studies, and philosophy. A range of views of information can be for different purposes.

Key attributes of “Information”:

  1. Promptness in availability:     Information should be made available within the desired period of time. Information delayed is information denied. Some of information is required to be made available to the user at regular interval of time so as to avoid delay in decision making.

  2. Up-to-date:   Up – to - date of information is an important activity in any good information system. In fact, some of the information systems are made in such a way that the stock information is up-to- date automatically, immediately after an event is taken on record.
  3. Accuracy:  Accuracy is the degree of the absence of error in the process of generation of information. It is an important attribute of good information. But, increasing the accuracy may involve some cost. It is important that the acceptable levels of accuracy for each type of information should be maintained.

  4. Precision:  Precision is an important virtue of good quality information. Too much of information sometimes results in dumping of important information in the heap of details that may not be required at a particular point of time.

Excessive detail of information results in information overload termed as Information Fatigue Syndrome.

  1. Completeness: Information should be complete and meet all requirements of manager. Incomplete information leads to misleading and may result in wrong decisions. That is why; a manager must give his involvement in defining the information that shall be made available to him.

  2. Unambiguity: Clarity of information is an important attribute of good information. Information must be unambiguous and should be communicated in such a way that it conveys the same meaning to different users.

  3. Completeness: The information that is provided to a manager must be complete and should meet all his needs. Incomplete information may result in wrong decisions and thus may prove to be costly to the organization. 
  4. Relevance: Relevance is another key attribute of information. Information must be relevant for the manager about questions like what, why, where, who and why? And helpful for making decisions.
  5. Timeliness: Timeliness means that information must reach the users within the required period of time frame. Timely information ensures that correct action is taken. The characteristic of timeliness, to be effective should include current information.
  6. Unbiasness: information contains no bias and has been collected without any distorted view of the situation.

Examples of “Information”

The traffic light

No parking

Employees’ Health records

PAN(Permanent address number)

Social security number

Student registration number

Employees’ Home address

Customer’s Bank account number

Customer’s credit card number

Sealed bids

Student ID

Vehicles Identification/Serial numbers

Fax number

Internet protocol (IP) address

 Financial data on public sponsored projects

Invoices and purchase orders

Budgets

Trade secrets or intellectual property such as research activities

...

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