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Knowledge Management and E-commerce in Manufacturing Companies

   

Added on  2019-11-29

7 Pages2079 Words295 Views
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CONTEXTUAL FACTORS
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Table of ContentsIntroduction:...............................................................................................................................................1Knowledge management:............................................................................................................................2E commerce:................................................................................................................................................3Knowledge management and e commerce in machinery manufacturing firm:...........................................3Conclusion:..................................................................................................................................................5References:..................................................................................................................................................5Introduction:Context can be defined as the surroundings of the phenomenon. In terms of business, there are several contextual factors that affect the organization functioning. These factors can be from internal or external environment of the company. Background:Knowledge management and E-commerce are the factors of the new technology that has its impact on the processes of the organizations (Wang, Dou & Jia, 2016). These are the factors that help the business to enhance their processes and functions. This is the report that discusses about these two contextual factors and their impact on the manufacturing industry or the UNIQUE PRODUCTION PRIVATE LIMITED company in order to enhance its business.Aim: The aim of the study is to understand such factors and their impact on business. That business that has been focussed in this report is of machinery manufacturing firm. Scope: the scope of this study is that it helps the business to take decision in order to implement such technological changes in the company so that they can compete with the competitive industry in the market (Kronsbein, Meiser & Leyer, 2014).Discussion:Contextual factors: contextual factors are the factors that directly of indirectly affect the businessfunctioning. It has been analysed that these factors can be from the internal environment of the
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company or from the external industrial environment. These factors have different types of effecton business (O’Sullivan, Andreoni, López-Gómez & Gregory, 2013). With the advancement in technology, there are different changes that have been observed in the businesses. Contextual factors affect the performance of the company as well as its different entities.Knowledge management:It is not only the management of the company that believes in knowledge sharing but the executives and the consultants of the business also claimed that sharing of knowledge is very important for renewal of the organisation and also provides the organization with competitive advantage over others (Hislop, 2013).The organization that believe in knowledge management and sharing have knowledge based views that suggests that creating and organizing knowledge isthe assets for an organization to develop. Mainly the multinational organization has their knowledge based views (Liebowitz & Frank, 2016).This is because the companies operate in different countries and regions of the world where people have different skills and knowledge
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