Knowledge Management and Decision Making

The assignment delves into the crucial topic of knowledge management within organizations, particularly its influence on decision-making. It examines various aspects such as stakeholder perspectives, communication channels, and the impact of technology on knowledge sharing and organizational structure. The analysis draws upon relevant literature and theoretical frameworks to provide a comprehensive understanding of how knowledge management contributes to effective decision-making processes.

Managing
Communication,
Knowledge and
Information

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Decisions to be taken for new venture.............................................................................1
1.2 Information and knowledge required for effective decisions...........................................2
1.3 List out the internal and external sources of information.................................................2
1.4 Recommendations for the improvement..........................................................................3
TASK 2............................................................................................................................................4
2.1 Identifying stakeholders whose actions may influence decision making process............4
2.2 Methods used to develop business relationship with these individuals...........................5
2.3 A plan to involve identified people in the decision making process................................6
2.4 Strategy for future improvements in decision making process........................................6
TASK 3............................................................................................................................................7
3.1 Different types of communication process.......................................................................7
3.2 Communication processes................................................................................................8
3.3 Integration of systems for appropriate communication processes...................................8
3.4 Personal development plan...............................................................................................9
TASK 4..........................................................................................................................................11
4.1 Existing approaches to the collection, formatting, storage and dissemination of
information and knowledge..................................................................................................11
4.2 Appropriate changes to improve collection, formatting, storage and dissemination.....12
4.3 Implementing a strategy to improve access....................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
In the present time, fate of any business organisation is usually decided by the abilities
related to decision making process. In every business, time is very important factor because
decisions are required to be made on right time. In respect to this, it is essential to have the
availability of accurate information, knowledge and communication process. With the help of
effective communication process, information can be conveyed and delivered in an effective
manner. Open communication and accurate information helps organisation to attain its targets
and objectives (Schwalbe, 2015). By considering this, the present report helps in understanding
the concept of managing communication, knowledge and information. In respect to this, Foods
de Plaza shop is considered whose motive is to operate new business in the food industry. In
addition, cited shop targets to sell high quality food products to the customers. The report
describes the ways to assess the information and knowledge requirements. It also explores the
strategies to increase personal networking to widen involvement in decisions making process.
Along with this, it defines list of company's stakeholders which are required to be involved in
decision making process.
TASK 1
1.1 Decisions to be taken for new venture
For selling high quality food products, Foods de Plaza needs to process the information
and knowledge for successful functioning of the business. Decision making takes place at all
levels of the organisation for its smooth functioning. All the decisions are taken by Foods de
Plaza at three levels of management such as strategic, tactical and operational. These have been
explained below:
At strategic level, Foods de Plaza’s director focuses on the investment. This level is the
most crucial for the business where management is unaware about the real outcomes of decisions
taken. They are long termed in nature and guide for the future growth of the enterprise (The
Decision-Making Process in an Organization. 2015). At tactical level, managers at different
department of Foods de Plaza contribute to achieve overall goals of the enterprise. Each
department ensures that they share information along with good practices for providing high
quality food products to the customers. Final one is operational level decision where each
employee is committed to improve business practices through which customer requirements are
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fulfilled. Decisions are taken on the daily basis which enhances value of overall operations
carried out within the workplace. Operations of enterprise are short term in nature and by taking
effective decision, it is possible to decrease cost (Afifi and Afifi, 2015).
There are many other research methods or techniques which are used to gain financial
information for stakeholders, marketing information that is used by Food de Plaza for
understanding sales figure and complains regarding product, manufacturing information etc.
There are different level of decisions that need to be taken within the organization,
despite of this, there are different types of decisions that is structured, unstructured and semi-
structured decisions. Structure decisions clearly defines the solution of issue and problem for
which the decision has been made. Along with this structure decision also include processing
range of creative and innovative decisions for the overall businesses. On the other hand,
unstructured decisions are those that rely on the knowledge or model. While, the last type of
decision is semi structured decision information gained by Food de Plaza is personal or admin
information which is used for understanding knowledge level of staff members and how to make
them productive.
1.2 Information and knowledge required for effective decisions
For starting new venture, both the information and knowledge play an important role for
making decisions regarding business functions and practices. Due to complications in the
business process, manager of the company requires skills, knowledge and expertise to understand
the problem. At each level of department, challenges are determined and data is used which
provide an insight to the company. Food de Plaza tends to apply management information
system for anticipations of the changes taking place in the market. MIS at business is linked with
processing of information where queries of the customers are handled as soon as possible. So,
this type of technology helps in improving the existing processes, development of new products
and services, improving work environment, increasing flexibility in processes, enhancement of
individual's knowledge etc. (Vaishnavi and Kuechler, 2015). In business, MIS also has an ability
to interpret and respond to the changes that depend on the amount of information and knowledge
available. Information system increases the level of outcome through effective knowledge, skills
and capabilities used by the employees. Effective decisions are made on right time and in a right
manner, so it can improve the outcomes. Many businesses are failed because of the objectives
which are not clear or key factors are not considered as part of the process. A logical and ordered
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process can help them to collect information from the environment. For the new business,
company requires the knowledge and information regarding accounting, financing and laws
introduced by the government bodies.
There are different types of information such as qualitative, quantitative, past information
or future information etc. under quantitative information there are certain facts and figures as
well as numerical information that is needed for Food de Plaza to take effective decisions.
Another type of information is qualitative that is generally the information gathered through
surveying the questionnaire. Another type of information include past information under which
manager focuses on collecting past information and data related with financial performance.
Another type of information that is collected by manager is future information that is mainly
attained for the future perspective.
1.3 List out the internal and external sources of information
To understand the overall market of food business, it is required to access internal and
external information from multiple sources. Food de Plaza collects information internally
through using SWOT analysis whereby company's strengths, weaknesses, opportunities and
threats are identified (Geisle and Wickramasinghe, 2015). External information is gathered
through the tools such as market research, PESTLE analysis, porters 5 forces etc. Food de Plaza
captures and uses the information that is relevant and reliable for achieving goals. There are
different kinds of sources which are mentioned below:
Internal Sources External Sources
Financial information: It includes information
related to the performance of Foods de Plaza,
how much profit it generates for the future
growth and expansion of the business etc.
Market research: By conducting market
research, cited firm understands about the
customer requirements, available competitors
and opportunities available in the competitive
environment.
Administration information: This provides
information related to personal details of the
employee, skills and training required for
improvement. Company also focuses to get
Government agencies: Company's manager can
use important legal information from
government to run business operations in a
successful manner. Data which is collected from
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information related to maintain the safety issues
for employees (Dozier, Grunig and Grunig,
2013).
the government is reliable or accurate to use for
the development of cited firm.
Internal documents of business: There are
many internal documents which are used like
balance-sheets, order forms, manual, bulletins,
financial report, product information etc. for
improving business processes.
Feedback: By taking feedback, company
collects important data which helps to
understand requirements related to products and
this makes them understand for taking decisions
regarding advertisement, quality and services
(Ting-Toomey and Chung, 2012).
1.4 Recommendations for the improvement
For new business, methods recommended for research are effective and they can choose
the best out of all needed to improve the overall practices of Food de Plaza shop. These are as
follows:
Observation: New venture can undertake the process of observing individuals for getting
information about the local people where Foods de Plaza is situated for selling high quality food
products. It is the great method of understating taste and behaviour of the people.
Questionnaire: Food de Plaza’s managers can obtain information from large number of
people by asking various questions. It also supports in knowing about the behaviour of
individuals regarding the product. This also informs about the beliefs, values and preferences of
the customers about the product (Hislop, 2013).
Documentations review: Business can focus on the past data and can process it. Further,
documentation reviews anticipate if any problem is faced by the organisation. Hence, business is
also required to correct the data in records for taking effective decisions.
Except the changes: By implementing new technology and upgraded version within the
workplace, firm will be able to integrate the operational functions on single system. New
technology can reduce cost of the different functions (Holsapple, 2013).
Online survey: Every new business requires improvement in the system that can be
understood through the method of online survey so that they can avoid situation of exit in the
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competitive environment. Survey is the quick, inexpensive and easy method to analyse the
product available in the competitive market.
TASK 2
2.1 Identifying stakeholders whose actions may influence decision making process
Stakeholders are the individuals or the group. Without their support, organisation can't
achieve its objectives. This is the only reason due to which Foods de Plaza takes decisions for the
growth of entire business. Stakeholders possess power to influence decision making process of
enterprise. Main stakeholders are employees, customers, suppliers, government, policy makers
and trade associates. Customers want new trends or sometimes they are rigid for a particular
product. So, both the situations influence the business operations. Suppliers will influence
process of decision making through not supplying the required amount of goods to the enterprise.
They can be manufacturers that can influence idea of the product along with the quantity which
is required by the organization (Garvey, 2014). Employees are important to run business
operations effectively and their working pattern and performance level influence decision
making process to a great extent. Knowledge and information regarding the business process
have direct impact on the decisions. Government develops rules and regulations which have to
be followed by the new venture (Eliasson, 2012). Through the rules and policy of government,
firm’s decisions are influenced because cited company has to comply with the regulatory
practices. This is the fact that these stakeholders are important for the progress of company
including profit maximization, improve the productivity etc.
2.2 Methods used to develop business relationship with these individuals
Organisation always focuses on high profit generation, eliminating poor options and
meeting with the overall goals. For the high profit, stakeholders and professionals who are
involved with the organisation need to be considered while decisions making. Different methods
can be useful for Foods de Plaza to develop relationship with various parties which are as
follows:
Customer relationship management (CRM)
CRM managers can focus to make strong relationship with customers for effectively
carrying out the operations of Foods de Plaza. They get to know about customer's behaviour,
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interest, taste and what things they want to change in the existing product range (Gailloux,
Samson and Shah, 2012).
E-mails and phone
Business uses method which takes less time and through this, it is possible to quickly
communicate with the individuals of business. Through webcasts, telephonic methods, video
conferencing, podcast and many other electronic techniques, it is possible to establish healthy
communication with the stakeholders. This will also give importance to the stakeholders which
increases performance of the company.
Conferences and presentations
Conferencing is used to interact with the people face to face for performing day to day
business activities. This can be the best method for Foods de Plaza to communicate effectively
and obtaining suggestions regarding any business problem. Presentation represents overall
picture of the business practices and it supports in knowing any kind of modification that is
required or not (Arcas, Walker and Gilman, 2011). If any change is required in improving the
process of company then company can take advice and suggestions from the professionals and
other stakeholders.
2.3 A plan to involve identified people in the decision making process
For the manager of Foods de Plaza, process of decision making is very important. In
respect to this, it is required to involve company's stakeholders in decision making so that more
suggestions and ideas can be collected. In the process of decision making, involvement of
stakeholders will help in taking decisions in an effective manner. The reason is that through
feedbacks and suggestions of stakeholders, cited firm will be able to understand their
requirements and expectations (Advantages and Disadvantages of Stakeholders. 2016). This will
help the firm at the time of formulating services and products. By considering all the ideas, cited
firm will successfully establish its new business in the market. Here, identified stakeholders are:
Customers- For successful business start-up, requirements and demands of customers are
required to be considered with the first priority.
Investors- They are the important stakeholders because they offer capital to start and
maintain the business.
Employees- By using their skills and abilities, cited firm is able to attain the objectives.
Employees of cited firm help in taking decisions (Gomez-Mejia and Balkin, 2011).
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With the presence of all these stakeholders, quality of decision making can be improved
in an effectual manner at the workplace of Foods de Plaza.
2.4 Strategy for future improvements in decision making process
With a motive of future improvements, Foods de Plaza requires to improve their business
networking. For this purpose, cited firm can adopt new and advance technological services. In
respect to improve decision making process, cited firm necessarily needs to enhance
communication skills of the staff members. In respect to this, by adopting and using online
engagements, cited firm will be able to effectively communicate with their stakeholders. With
the help of online engagement, stakeholders of cited firm will be able to communicate with each
other and share their problems. With these features and benefits, it can be stated that in the
organisation, online engagements can be considered as an effective and important
communication channel (Maxwell, Jeffrey and Lévesque, 2011). By considering this factor, cited
firm requires to formulate an online forum which allows stakeholders to give their feedbacks,
suggestions and information. On the other side, company can also use this platform to convey
important information to the stakeholders in respect to products and services. By considering
suggestions, feedbacks and demands of the stakeholders, cited firm will be able to improve
quality of the services and products in order to meet their needs (Neck and Greene, 2011). In
respect to reduce the risks and challenges, cited firm also requires to make the pre-plans.
TASK 3
3.1 Different types of communication process
From the given case scenario, it is articulated that Foods de Plaza shop has successfully
established in the market place and also attracted large number of customers. By considering the
positive outcome and success, cited shop decides to enhance its business operations by adopting
the option of opening more physical stores or outlets. This option will help in attracting and
reaching mass level of customers in an effective manner. Communication process which is
present at Foods de Plaza shop is described below as:
Written communication
In order to convey information to the staff members, Foods de Plaza shop uses written
communication method. In this context, documents and letters are used to convey all the
important information related to business (Lerner, Hardymon and Leamon, 2012). In this,
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information related to business operations are policies, arrival of new order, changes in menu,
staff benefits, new rules and policies etc. To run business operations in an effective manner, it is
essentially required that all the staff members should be aware about the important information.
Oral communication
Due to any reason, if performance of any employee gets affected, senior authority or
manager directly interacts with him. In this context, manager tries to explore the reason of
demotivation, lack of interest etc. In order to resolve the issues, manager communicates with
employee in a friendly manner (The Importance of Communication in the Organizational
Structure. 2016).
Conferences and meetings
With the help of meetings and conferences, cited firm takes decisions and conveys
information to the employees. By conducting meetings at different levels, cited firm
communicates important information to the employees. In this context, both one to one and
group meetings take place at the workplace. Cited firm also conducts meetings to collect several
new ideas and suggestions from the staff members. Along with this, cited firm also organizes
conferences to increase awareness among employees about the several aspects (Pollack,
Rutherford and Lohrke, 2012).
Trainings and workshops
With a motive of improving skills, abilities and knowledge level of staff members, cited
firm also conducts workshops and training sessions on the regular basis.
3.2 Communication processes
In order to expand and grow the business, Foods de Plaza requires to enhance their
communication process. Before identification of different communication methods at the
workplace, it is essentially required to explore the loop holes and barriers which affect existing
communication process and remove them as soon as possible. Barriers may relate to lack of
motivation, interest, negative attitude and skills etc. Few communication processes are described
below that may be appropriate for business operations of the cited firm.
Presentation Option
To convey information to all the employees in an effective manner, cited firm can use
presentation method. This option is more effective because it allows to convey the information
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with the help of audio, picture, charts, text and video form. By using all these methods, cited firm
can effectively improve the communication process (Fischer and Reuber, 2011).
Online services
In the present time, technology makes communication process more effective and easy.
With the help of this facility, cited firm can use electronic mail service and online forums. By
using e-mail service, cited firm can communicate easily by conveying information to all the
employees in an effective manner.
Informal communication
In order to improve the communication process among employees, few activities can be
performed such as parties, lunch/ dinner programs, picnic and sports programs etc. (Matlay,
2011).
3.3 Integration of systems for appropriate communication processes
In order to integrate the process of communication with the systems of Foods de Plaza, it
is essentially required to make an effective planning. In the business organisations, open and
clear communication process is essentially required at the workplace because it helps in
improving performance level of the employees and firm as well. With a motive of business
expansion, cited firm requires to integrate communication process with the systems. In respect to
this, cited firm can use various types of technological services to effectively communicate with
the employees (KrishnaKumar and Khosla, 2014). With the help of online forum, employees can
effectively communicate with each other with a motive of sharing information, data and
resolving the issues. In addition to this, by using electronic mail facility, cited firm can easily
deliver the important documents, reports and letters to both the internal and external types of
stakeholders. Further, to effectively communicate with others, both the communicator and
employees are required to understand the topic and it should be discuss in the meeting. This
technique will help in establishing two way communication. Along with this, cited firm can
adopt and implement customer relationship management model and enterprise resource planning
model (Von Krogh, 2012). With the help of these methods, Foods de Plaza will be able to
manage and store the information and data in an effective manner. CRM model will help the
cited firm to establish and maintain the healthy relationship with the customers.
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3.4 Personal development plan
It is important for the leader of business to monitor his or her own performance. In order
to formulate an effective personal development plan, it is important to identify the current
position which describes existing strengths and weaknesses. For this purpose, one strategic tool
which is well-known as SWOT analysis can be used. By using this type of tool, information
related to opportunities, weaknesses, threats and strengths can be achieved. It will help in taking
appropriate actions to improve the weaknesses, overcome the threats and grab the opportunities.
After identification of weaknesses, personal development plan can be formulated in an effective
manner (Mostashari and Stanković, 2013). By adopting several types of methods, I will try to
improve my weak areas and skills. As I am offering services as a leader at Foods de Plaza so
some skills are very important to be present in me such as communication, problem solving,
presentation, confidence, time management and confidence. All these skills are very important
for leaders to perform various types of roles and responsibilities. In respect to this, there are
several types of tools and techniques present which can help me to improve the level of my skills
and abilities. On the basis of analysis process, personal development plan can be formulated
which is described below such as:
Current Skills Ways to improve level of skills Required time scale for
improvement
Confidence level
I will try to improve my confidence
level by making eye contact with
others at the time of communication.
13 Days
Presentation skills
With the help of continuous speaking
practice in front of mirror, I will
improve it.
15 Days
For better understanding of problem,
I will break it into small parts and
17 Days
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Problem solving skills analyze them all. By making
discussions to others and analyzing
several case studies (Misani and
Tencati, 2008).
Communication skills
By taking active participation in
group discussions and debate.
In order to overcome on grammatical
mistakes, I will practice of writing
content on Microsoft Word.
2 Weeks
Time management skills
By adopting various types of methods
like scheduling and setting priorities,
I will try to manage my time.
1 Week
TASK 4
4.1 Existing approaches to the collection, formatting, storage and dissemination of information
and knowledge
In respect to collection, formatting, storage and dissemination of information, Foods de
Plaza still uses the traditional method. In respect to this, report on existing approaches related to
these areas is described below as:
Collection Formatting Storage Dissemination
In order to collect the
information related to
internal staff, Foods de
Plaza completely relies
on the data which are
revealed by their staff
people. Due to personal
Cited firm removes all
the unnecessary
information before
storing the data. In
addition, formatting of
remaining information is
done by using Ms Excel,
Collected data and
information are stored
in laptops and
computers. In this
context, problem is
related to protection of
data. Along with this,
In cited firm,
information is
disseminated by making
use of mails and phone
calls. In addition, to
dispatch new
information to all
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relation and value
among staff people,
process of data
collection gets affected
(Thompson and
Messick, 2013). In
addition, for external
information, cited firm
relies on news channels,
television, government
reports and trade
magazines.
Word and Power Point. by making use of CD,
hard disks and pen
drives, data are stored.
employees, bulletin
board is used by cited
firm.
4.2 Appropriate changes to improve collection, formatting, storage and dissemination
On the basis of above discussion, it is explored that few improvements are required in
respect to collection, formatting, storage and dissemination. These improvements are described
below:
Collection Formatting Storage Dissemination
In this context, Foods
de Plaza requires to
collect the information
in an unbiased manner.
This can be done by
removing personal
relationship and values
among employees. In
respect to drafting data
policy, training can be
For the proper
formatting of data,
standardized format can
be used by the cited
firm.
By adopting current
facilities like Drop Box
and Google Docs, cited
firm can store their
information. In
addition, for security
purpose, passwords can
be set on the folders of
computers. In addition,
cloud computing
Cited firm requires to
focus on well planned
communication
structure which helps in
improving
communication process.
In addition, for proper
dissemination, cited
firm can deliver
information through
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provided to staff
people.
method can also be
used.
newsletter, messages
and online forum.
4.3 Implementing a strategy to improve access
In order to formulate and implement an improved strategy of accessing information, it is
essentially required to carry out proper study of all the available resources. In this context, if
company conveys information through bulletin board then it cannot be considered as an effective
method if employees do not prefer to read from it. In order to catch the attention of workers,
board requires to be made in an attractive manner with regular updating of information. In this
context, Foods de Plaza can improve access to the system of knowledge and information by
using ICT (information communication technology). It is mainly concerned with the
manipulation, storage, retrieval and transmission of digital data (Matlay, 2011). Digital
communication technologies will allow management of the cited firm to share information and
communicate digitally with all types of stakeholders. Along with this, cited firm can also develop
website, conduct workshop and manage database etc. By using ICT at the workplace, cited firm
will be able to easily access the systems of information in an effective manner. Automated
system will help in improving the efficiency of both the communication and data collection at
Foods de Plaza. Another system that is implemented for improving access is strategy thinking.
CONCLUSION
With the help of present report, it is articulated that it is essentially required to manage
the knowledge, information and communication process in the organisation. In order to make a
good and effective decision, accurate information and knowledge are needed in an essential
manner. In the present time, due to complexity in business operations and processes, organisation
requires high level of knowledge, information and open communication. In addition, report also
describes the importance of good relationship with the stakeholders and their involvement in
decision making process. In respect to case, Foods de Plaza needs the information and
knowledge to establish its new business in the food sector. Along with the presence of
appropriate sources of information, cited firm will be able to attain its objectives and targets in
an effective manner.
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