Assignment Sample: Strategic Knowledge Management
Added on 2021-02-19
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Strategic Knowledge Management
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN ANALYSIS..........................................................................................................................3CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONStrategic knowledge management refers to the process and infrastructures organisationuse to attain, create or share knowledge for formulation of strategy and makes strategic decision.A clear knowledge strategy defines to an overall approach a firm intent to take align its conciseknowledge based resources & capabilities to an intellectual requirements to its strategy (Davisonand Huang, 2017). For aim to develop strategies, sharing of the knowledge is vital along withleadership is need to develop an environment, where a specific kind of an information is beingavailable to correct people during precise time basis. This essay will cover organisation named as“Skandia” is a leading multinational insurance & financial services company, is based inStockholm, Sweden. Point of the focus is on Executives are trying to put consideration onquality management, core competencies, and value of employees, their knowledge, andexperience on the job.Although essay will try to develop analysis about knowledgemanagement/environment, communities of an interest/practice, challenge of performancemanagement along with intellectual capital and social network. Moreover, report will try tospeak on how all given four would be lead to strategy formulation. Also, assessment will beperform using the secondary sources of investigation using valuable reading material. MAIN ANALYSISStrategic knowledge management (SKM) mainly deals with use, creation & sharing of anknowledge to formulate strategy and makes an effective decisions. As the strategy is meant toimplement something valuable thought, idea or process into structured organisation to rise itsprobability of future success and sustainability while working into specific environment. For theSkandia, strategic formulation is necessary, firm is previously operating on the bottom-line andthey were facing issues regarding quality management, ineffective core competencies & value ofthe employees are also founded deficient (Lasserre, 2017). While operating at the bottom-line,Skandia has faced problem related to downgrade quality expectation related to an actualperformance, competence such as professional insight of the employee and improperorganisational learning which is linked to developing moral and motivation. Also due tooperation at the bottom-line, expectation of operation viewed till date. Hence, executives of theSkandia are literally serious about such issues and they are looking forward to accomplisheseffective quality management, proactive core competencies and value of their people such as
skills, value & knowledge as collective part of the hidden values of the firm. To formulatestrategy to all above, firm will try to focus on four main consideration on a knowledgemanagement, communities of an interest/practice, challenge of performance management alongwith intellectual capital and social network (Marques and et. al., 2016). In this essay, criticalanalysis will be try to be focus on Intellectual capital of the firm to first identify strategies andformulate that, in order to remove deficiency of a business operation. The explanation of all fourtopics are as follows: Knowledge Management/Environment is a complete system that is actually promotescollaborative environment for capturing & share existing knowledge, creates opportunities togather new knowledge and assist to provide tools and approaches to gain set strategic goals ofthe organisation (Geisler and Wickramasinghe, 2015). Knowledge is mainly a part of intellectualcapital, firm can use to think about strategies to achieve any combined objectives or aim.Knowledge is the clear awareness, consciousness or familiarity gained by the experience orlearning. For every firm, it is defined as what people know about its customer, products,processes, mistakes etc. Majorly it is organisational knowledge related to the vision, missionsand products or service of the Skandia. Moreover, organisation knowledge is an essentialcomponent of IC is used at time of adapting new kind of alteration or changes. Skandia AFS isfacing challenge of leveraging work related to intellectual capital through other functions such ashuman resources, information technology, and business development. As, director of the IC, LeifEdvinsson is seeking for organisational knowledge using of the Collison & Parcell model whichconsists of three main parts as people, process and technology. Illustration 1: Collison & Parcell model
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