Knowledge Management and E-Commerce in Business
Added on 2020-02-19
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Running Head: Management and business contentManagement and business content
Management and business content 2IntroductionInternet technology and knowledge management is a key component of business strategy. A large number of companies use e-commerce to reach the customers in and out of the country. Further, when e-commerce has connected to business procedure and culture of the organization then it supports to build the strategic growth. These plans can lead to the performance improvement. Another essential part is knowledge management that is used as a major source to get sustainable competitive advantages. Along with this, a company needs to acquire and update their knowledge base to avoid the competitive strategy regarding discounting on price because, intellectual assets in the business operation are difficult to copy (Bilgihan, et al. 2015). This essay presents the different factors such as Knowledge management and e-commerce which enhances the business performance of ‘The Kitchen’. Knowledge Management and e-Commerce factors to enhance the business practice of ‘The kitchen’According to the Quast (2012), knowledge management is the procedure to capture, share and efficiently use the knowledge. It is a discipline which encourages an integrated approach to address, capture, assess, retrieve and distribute the information assets of the enterprise. These information assets involve the documents, procedures, databases, and earlier un-captured knowledge and experience of the individuals. Zaied et al. (2012) argued that employees can enhance the quality and efficiency of judgment by identifying knowledge for the whole management when it is required. Further, enterprise teamwork strategy enables ‘The Kitchen’ to access the views and experiences of a large number of individual and facilitates additional aspects related to customer’s choices. Knowledge management leads to the innovation and cultural changes. It also encourages ‘The Kitchen’ to
Management and business content 3distribute its information and access to the current data. Consequently, it is stated that knowledge management facilitates ‘The Kitchen’ to implement the innovation and cultural modifications hence organization can attain the requirement of business and get the competitive advantages in the restaurant industry. In support to this, Sigala and Chalkiti (2014) evaluated that knowledge management can improvethe company’s efficiency and business procedures. Moreover, knowledge employees can respondrapidly by quick accessing the information and resources across ‘The Kitchen’. Additionally, the company can take interview of more than people and can select the knowledgeable individual because it will help to enhance the business procedure and performance of the organization. As per the view of Inkinen and Inkinen (2016), knowledge management is effective to increase the customer satisfaction level. Furthermore, the knowledge distribution and cross- alliance is effective to gain the value offered to the customers. The Kitchen could be enabled to provide quick response in less time as it can enhance the customer’s demand towards product and services. In favored to this, Liu and Lee (2015) discussed that fast response time is essential for every organization. Hence, The Kitchen can use the knowledge management strategy to do quick response and to make an effective decision about the business growth. Because, this strategy enables the people to directly access the required knowledge and techniques hence company can get benefits in Australian restaurant industry. KM also helps to improve the products and services for the organization. Because, it enhances the capabilities of the organization with respect to team work and distributing knowledge in both virtual and physical atmosphere hence ‘The Kitchen’ can improve the business performance. By using the knowledge management resource, the company can be more creative as it is a key source to enhance the offering product
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