Knowledge Management and the SECI Model
Added on 2020-01-23
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Running head: Knowledge Management (KM)1Knowledge Management (KM)Name of StudentName of Institution
2Knowledge Management (KM)Knowledge Management (KM)1.Introduction1.1. DefinitionKnowledge management is described as the process of harnessing, distributing and effectively utilising the information and knowledge in an organization. The notion about KM was realised in 20 years ago involved in organizing the information in a holistic manner. Knowledge management is also involved in preventing the staff from regularly coming up with new ideas and instead provides a baseline in efforts to bring about progress measurements and reducing the aspect of expert attrition. The KM is also an important visual and tangible element that helps in managing in an effective manner the huge volumesof information that helps workers to serve the clients in a plausible and swift way. Knowledge management is also looked at as a discipline which promotes a superb and integrated perspective important for identifying, evaluating, capturing, retrieving and even sharing all important information assents within an organization. Such informational assets can involve databases, procedures, policies, documents and the experience and some other untapped expertise by individual workers (McInerney, 2011).1.2.Needs of Knowledge managementTherefore, the ideal needs of the knowledge management involve finding appropriate ways of capturing the organizational information, evaluating this knowledge to review its impertinence to the organization and also there is the need for sharing the
3Knowledge Management (KM)information or knowledge with an aim of helping the workers and the general organization to grow positively (Ferguson, 2005).1.3.Benefits of Knowledge management There are some benefits of knowledge management that make the practice ideal in today’s organizational setting and operations. For in instance, the KM has a role of protecting the organization’s intellectual capital. This involves the knowledge held by different levels of the organization including the management, employees and other sources. There is also a benefit of KM that helps the organization to be focused towards the most important assets such as human capital. This is the ideal importance of knowledge management s it capitalizes on effectiveness of human capital (Durham, 2004). The KM has also the benefit of connecting or linking people to people through setting up of the collaborative techniques of organizational management. Further, the knowledge management helps in opening up of new pathways for collaboration and sharing of information within organizations. This is a great benefit of networking and helps improves management or human resources (McInerney, 2011).2.Company profile 2.1.Company History Louis Upton founded the company at around 1911. The company was started by Louis Upton and his uncle Emory Upton who had a machine shop. After his business failed, Louis Upton took some patents on the manual washers for clothes and to make the system work better he approached his uncle to know if it was possible to acquire an electric motor
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