Analysis of Knowledge Management and Open Innovation

The provided document is a summary of various academic sources related to knowledge management and open innovation. It includes references to studies on information sharing, cognitive involvement for sustainable workplaces, and the utilization of information science and technology in franchise organizations. The document also touches upon the role of internal R&D and external information in knowledge-intensive business service innovation, as well as the impact of digital transformation on communications professionals. Overall, the document provides a comprehensive overview of the current state of research in these areas, making it a valuable resource for students and scholars seeking to deepen their understanding of knowledge management and open innovation.

Unit: 16 Managing
Communications, Knowledge and
Information

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO1..................................................................................................................................................1
1.1 Decisions to make while opening the food shop...................................................................1
1.2 Information required in making the decisions to start the new business...............................2
1.3 Internal and external sources of information.........................................................................2
1.4 Recommendations for improvements....................................................................................4
LO2..................................................................................................................................................4
2.1 Determining various stakeholders involved in decision making...........................................4
2.2 Relationship of stakeholders with business...........................................................................5
2.3 Engaging the stakeholders in decision making......................................................................5
2.4 Design Strategies for improvement.......................................................................................5
LO3..................................................................................................................................................6
3.1 Evaluating the existing communication process within the organization..............................6
3.2 Determining ways to improve the effectiveness and appropriateness...................................6
3.3 Implement the improvement that ensure the greater integration of communication system
in The Little Café. .......................................................................................................................7
3.4 Create the personal plan to improve the communication skill...............................................7
LO4..................................................................................................................................................8
4.1 Discuss about the existing approach to the collection, storage, formatting and the
dissemination of data knowledge. ...............................................................................................8
4.2 Describe the changes to improve the formatting, storage and collection of information. ....9
4.3 Implement the strategy to improve the access of system in terms of knowledge and
information. .................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Organization is a comprehensive unit which performs all the required functions in order
to achieve higher productivity. For this, it is very important to manage proper communication
within business. Along with this, managers and owners need to possess a complete information
and knowledge in order to bring new ideas and concepts by enhancing operations and work flow
within the organization. The report will be based on the little cafe which is now being owned by
the owner. So in order to grow and sustain the new shop in the market, this study is about
managing the effective communication, information and knowledge to run the business in this
highly competitive world. Therefore, the present study will explore various strategies and which
ensures the proper decisions as well as proper sources to understand the information within the
company.
In addition, the assessment will also helps in determining various stakeholders involved
in decision making. In this project, a proper communication strategy for establishing A new
business that is “The Little cafe” will be be explored. Therefore, a new IT system will be used in
the business which ensures the smooth and proper growth of the business.
LO1
1.1 Decisions to make while opening the food shop
Different decisions to be made while opening the shop that sells the high quality of food
as now the consumers are not having the issues to pay high but they are more focus on the
quality of food they purchased so it is important to take some decisions before starting the shop
are :
Licensing for Food Business
First step one need to take this is to get the proper license of the business from the local
counsel. There may be having the different rules and regulations that is being depend on where
the business is actually based (Stephany, 2015).
Business Plan
It is very important to have the clear business plan especially helpful for those who are
entering in the market (Clegg, Kornberger, and Pitsis, 2015). Research information for the
restaurant business plan may find out many problems that would not be considered before
making this plan such as licensing, health codes, any laws related to food as there may be the
variation in the requirement of licensing.
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Evaluation of cost
To open the food shop there is having the significant part to run the shop and that must be
evaluated and carefully planned as these are the significant cost involved in starting the business
are food cost as it is the cost that is incurred to maintain the stock, overhead cost that is rent,
staff, license, marketing cost as the rent covers the significant cost and it is mainly affected by
the location of the restaurant. It must be considered that the rent should not exceed the 10% of
total revenue.
1.2 Information required in making the decisions to start the new business
Information is being required to start the new business and make it successful while conducting
the business some basic information is to be examined in relation to start the business are
Consumers trends and preferences
It is very important to understand the current trends that is being running in the market
and people are choosing that as every day new variety in food is being introduced and people are
shifting to the new taste very soon so it is important to consider the taste and preferences of the
consumers.
Market Analysis
Before starting the business it is very essential to do the market analysis as there should
not be having the many competitors around the place where the new shop is about to open as it
will impact the sales of new business. At the same it is also important to target the people who
are living around that area. This are the important factor that has to be analysed properly before
starting the business (Hair Jr and et.al., 2015).
Management of money
it is also very important and understand the ways how to manage the money otherwise
one can not manage the business. Once, the money is managed than there is need to understand
the where the additional money can be raised.
1.3 Internal and external sources of information
The idea and information to run The little cafe comes from various different sources such
as general surveys, data, articles, books and various search engines (Conger, 2015). Along with
the there are also various published sources of information such as newspapers, magazines,
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financial trade etc. It can be commonly distinguished between two types that is external and
internal source of information. Such sources are described below:
External source of information
This source of information can be invaluable in helping a owner of The Little cafe to
determine the appropriate course of action and plan for the future. Although, people are genera;;y
depend on the personnel contact for the great deal of their information.
 Print information: This type of information is generally present through array of books
and periodicals. Also this source of information is commonly circulated through the mail,
telephone and through GPO book store in major cities (Newell, 2015). As the, owner was
planning to expand the business and so the information comes from the news paper that
cafe owner is selling the shop so the business was purchased in the name of The Little
cafe.
 Television and radio Media: This source of information is really effective as it helps in
managing the business and its operations. Also television and radio media communicates
various effective strategies to develop and manage the new business. Online information: In this digitised world, people are surfing more information online so
this gets easy popularity and attention of the people. Therefore, owner of the Little cafe
also
Internal source of information
The internal source of information can be derived from the internal reports that allows the
owner to think about the expansion of the business.
 Employees: As the employees are delivering the better output and also higher profits are
generated then this source helps in managing the business successfully.
 Management: Internal staff are basically responsible for managing the successful
business which also enables the Little cafe for the growth and expansion.
 Internal auditor: This information provides the proper financial status which determines
the ability of the company to grow more in the future.
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1.4 Recommendations for improvements
There are various improvements required to manage the effective information,
communication and knowledge to run the business successfully (Klewes, Popp and Rost-Hein,
2017). Various recommendations are as follows:
 The Little cafe should implement the email system in order to circulate the important
information to all the staff effectively.
 As the company deals with the variety of Food items along with the entertainment of the
guest so they should take the orders properly with a written communication.
 The Little cafe should enhance the IT system within the company in order to enhance the
efficiency of the business.
 The company should continuously analyse the market trends and customer requirements
from the online source of information and understanding. It allows the company to
understand the requirements and needs of the customers, therefore the Little cafe will
achieve the sustainability in this competitive world.
LO2
2.1 Determining various stakeholders involved in decision making
The stakeholders are the the members of the organization who are involved in managing,
directing as well as strategic decisions are also taken by them. Various stakeholders involved
within the Little cafe are as follows:
Employees: These stakeholders basically carry outs the operation function within the Little cafe.
such stakeholders are involved in the decision making of the leaders as leaders asks them for the
difficulties in carrying out operation and also their ideas are promoted to ease their work.
Customers: They are one of the important stakeholders as the Little cafe serves the food and
services according to their requirement (Doloreux, Shearmur and Rodriguez, 2018). So changing
trend and perceptions of the customer directly impacts on the decision making of the company.
Owner: They are involved in policy making and strategy formulation within the business. So
they are directly involved in decision making which supports the growth and sustainability of the
firm.
Technical staff: In order to manage the effective communication, information and knowledge to
carry out the business in successful way, IT management is one of the great response. Therefore
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The Little cafe need to focus towards the online source and social media by making better use of
IT system.
2.2 Relationship of stakeholders with business
In “The Little Cafe” all the stakeholders share a important relationship which supports
the growth and sustainable development within the firm. Such relationship of stakeholders are
explained below:
 Employee maintains the effective relationship with the business as they are the one who
carry outs the operations within business that ultimately increase the sales and generates
profits.
 Customer are the main as the company performs the operations for the consumption
purpose so their faith allows business to sustain in this competitive market.
 Owner are those who invents the idea to expand the new business with innovative
thinking so sustainability and growth of the Little cafe depends on the knowledge and
information of the owner.
 Technical staff helps in enhancing the efficiency of the firm by developing Effective IT
system (Brunswicker and Vanhaverbeke, 2015). Therefore, they balance the demands and
supply of the products and services.
2.3 Engaging the stakeholders in decision making
There are commonly five steps to engage the stakeholders in decision-making of the
company.
 Identifying the problems and solution to make the decision.
 Analysing the stakeholder who will helps in providing the solution for such problems.
 Third step involves the formulation of the plan which involves setting out the message to
handle the situation by applying the effective decision making.
 This step involves engages the stakeholders in analysing the consequences of such
decisions.
 The last step involves the review which allows the success of the stakeholders campaign
which allow the stakeholders to communicate such plan to other staff.
2.4 Design Strategies for improvement
In order to grow the Little cafe, one of the best strategy is the development of the IT
system within the company. The IT system helps in improving the efficiency of operations at
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workplace. Therefore, implementation of this strategy promotes the growth and long term
sustainability of the firm (Kratzer, Meissner and Roud, 2017). Another, strategy for the business
is the effective promotion and advertisement source which attracts the large number of audience
towards their innovative services of cafe. This promotion sources includes the social media
advertisements and combo offers along with free Wi-Fi and entertainment facility to customers.
LO3
3.1 Evaluating the existing communication process within the organization
The Little cafe is newly developed business in which owner need to implement the
effective strategies which supports the growth of the firm in this competitive world. However,
the current communication process used within the cafe is verbal and informal communication
which is inefficient and also restrict the flow of information and it is not effective way (Kratzer,
Meissner and Roud, 2017). Therefore the company is planning to employ the email system and
written communication within the firm which supports the effective operations and enhances the
efficiency within the firm.
So, company is currently approaching towards the technology which will prove to be one
of the effective and efficient communication process within the Little cafe.
3.2 Determining ways to improve the effectiveness and appropriateness
As the newly established business is a small and and also the scope of operations is less,
so in order to manage the information, communication and knowledge within the firm will be
easy (Kratzer, Meissner and Roud, 2017). So in order to improve the effectiveness and carry out
the business plans appropriately, there are various different types of ways to maximise the sales
and improve the profits such as:
 In order to improve the appropriateness of communication within the firm, proper
mailing system will be employed which helps in proper flow of communication to each
staff member. It will enhance the effectiveness and efficiency within the Little cafe.
 In order to manage the knowledge, the owner need to update market knowledge which
helps in defining the appropriate strategies within the firm.
 In order to increase the appropriateness within the knowledge, proper trainings will help
the staff to improve the services within the business.
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3.3 Implement the improvement that ensure the greater integration of communication system in
The Little Café.
In Little café, the integration of communication system is crucial part of success of
enterprise which will develop the interaction with other employees. In this way, it has been
developed the strong relationship which help for business to increase the productivity and
profitability in marketplace (Caputo and Evangelista, 2019 ). There are common improvement
aspects of Little Café for improving the communication at workplace.
Check with staff members on regular basis
It is an essential part of improvement to monitor the activities of employee on regular
basis. They also investing them to discuss about the project and task so that employee can share
their own opinions. It can happen due to the internal communication throughout the entire
business.
Assess current internal interaction strategy
It is not easy for Little Café to improve something fast, it holds the different
communication methods such as email, telephones etc. The Little café is replacing the email with
the social media software and makes the current internal communication process (Chen, 2019).
Focus on business culture
It is important for Little café that integrate the culture with the workplace. It is the best
way to make staff member feel and connected with each other. Employee engagement idea
always help the business to maintain the overall environment at workplace.
3.4 Create the personal plan to improve the communication skill.
Improvement
requirements
Sources of
information
Target
achievement
Time intervals Evaluation
Written E-mail Technical
specifications,
Used the written
process.
5 days Self-evaluation
Take feedback
from colleagues,
friends
Interpersonal
communication
I will Express
my own idea
Transferring
views
Practice on
empathy,
Active listening
Control the
7 days Self-evaluation
Take feedback
from other
participants
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emotions.
Maintain positive
outlook towards
the goals.
Visual
communication
I will draw the
fundamental
concept.
I will use art
and signs.
Seek inspiration
from others.
Utilise the accurate
typography.
Balance the
harmony.
7 days Self-evaluation
Take feedback
from colleagues,
friends
Table: 1
LO4
4.1 Discuss about the existing approach to the collection, storage, formatting and the
dissemination of data knowledge.
The Little café has been two types of fundamental resources of information in terms of
collection such as internal and external resources.
Internal data collection is mainly carried the large numbers of source such as clients,
goods, services. On the other hand, external information is collecting from the business sectors
as well as economies. In Little Café, it has builds strong connection between different
departments and they are closely integrated with complete task in proper manner (Greu, 2019).
For Example- The Little Café must be shared the annual report to release overall budget of
business and also include the turnover of organization. It can be forwarded from one department
to other for managers. In this way, every department has been responsible to collect the data and
information.
In Little café, the Manager is collecting all the generated output in different types of
formats such as graphs, cash flow statements, reports and balance sheets. In this way, it can
easily analyse the information of business through database management.
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4.2 Describe the changes to improve the formatting, storage and collection of information.
There are some common changes help for Little café business to improve the collection,
formatting and storage information in proper manner.
Data collection- The Little Café must create the better quality of communication process
between the staff members. It helps to share the information from one department to another.
The owner always maintains the formal reporting at different departments (Nisar, Prabhakar and
Strakova, 2019). They also trying to overcome all type of issues and encourage the staff
members to collect the information in efficient manner. The café can use the modern technology
to gather the data and provide to client on time.
Data Formatting- It has to be creating the daily layout on the basis of existing framework
and formatted in proper ways. The Little café requires to organize and store in proper formatting.
Date Storage- It always assist the Little café to use the DBMS that allows for storage
large amount of data in it. Advanced technology applicable for business to develop their demand
in global marketplace (Shiau, Yan and Lin, 2019).
These are the effective changes that help for managing and controlling the business
operations and functions in proper manner.
4.3 Implement the strategy to improve the access of system in terms of knowledge and
information.
Nowadays, there have been possible the remarkable improvement in the entire business of
utilisation, generations and distributions. The Little café can implement the strategy in the
business process to maintain the information and knowledge.
It always tries to utilise the essential resources and other alternating learning criteria’s. it should
be implementing the digital technology that help for data generation and utilise the
information in the business enhancement (Preec and Shaw, 2019).
It can use the SWOT analysis tool that help for identifying the strength, weakness, threat and
opportunities in the existing business process.
The information technology will be integrated with the business operations for transforming in
the culture and environment in proper manner. In this way, it directly converts into the
strength of business to build successful business.
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CONCLUSION
As per discussion, it concluded that the managing communication and information are
important concept in the business that help for better decision making in operations. This type of
process refers to achieving the goals and objective knowledge of information.
It summarised that the explore various strategies and which ensures the proper decisions as
well as proper sources to understand the information within the company. It also helping in
different stakeholders involved in decision making. In this project, a proper communication
strategy for establishing the new IT system and useful for business which ensures the smooth and
proper growth of the business.
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REFERENCES
Books and Journals
Brunswicker, S. and Vanhaverbeke, W., 2015. Open innovation in small and medium‐sized
enterprises (SMEs): External knowledge sourcing strategies and internal organizational
facilitators. Journal of Small Business Management. 53(4). pp.1241-1263.
Caputo, F. and Evangelista, F., 2019. Information sharing and cognitive involvement for
sustainable workplaces. In Corporate Social Responsibility: Concepts, Methodologies,
Tools, and Applications (pp. 1403-1420). IGI Global.
Chen, Y.S., 2019. Utilizing information science and technology in franchise organizations.
In Advanced Methodologies and Technologies in Artificial Intelligence, Computer
Simulation, and Human-Computer Interaction (pp. 981-995). IGI Global.
Clegg, S.R., Kornberger, M. and Pitsis, T., 2015. Managing and organizations: An introduction
to theory and practice. Sage.
Conger, S., 2015. Knowledge management for information and communications technologies for
development programs in South Africa. Information Technology for Development. 21(1).
pp.113-134.
Doloreux, D., Shearmur, R. and Rodriguez, M., 2018. Internal R&D and external information in
knowledge-intensive business service innovation: complements, substitutes or
independent?. Technological and Economic Development of Economy. 24(6). pp.2255-
2276.
Greu, V., 2019. The Information and Communications Technology is Driving Artificial
Intelligence to Leverage Refined Knowledge for the World Sustainable Development-
Part 3. Romanian Distribution Committee Magazine. 10(2). pp.14-30.
Hair Jr, J.F and et.al., 2015. Essentials of business research methods. Routledge.
Klewes, J., Popp, D. and Rost-Hein, M., 2017. Managing the digital transformation: ten
guidelines for communications professionals. In Out-thinking Organizational
Communications(pp. 187-195). Springer, Cham.
Kratzer, J., Meissner, D. and Roud, V., 2017. Open innovation and company culture: Internal
openness makes the difference. Technological Forecasting and Social Change. 119.
pp.128-138.
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Newell, S., 2015. Managing knowledge and managing knowledge work: what we know and what
the future holds. Journal of Information Technology. 30(1). pp.1-17.
Nisar, T.M., Prabhakar, G. and Strakova, L., 2019. Social media information benefits,
knowledge management and smart organizations. Journal of Business Research. 94.
pp.264-272.
Preece, G. and Shaw, D., 2019. Structuring organisational information analysis through Viable
System Model knowledge domains. Journal of the Operational Research Society. 70(2).
pp.338-352.
Shiau, W.L., Yan, C.M. and Lin, B.W., 2019. Exploration into the intellectual structure of
mobile information systems. International Journal of Information Management. 47.
pp.241-251.
Stephany, A., 2015. The business of sharing: Making it in the new sharing economy. Springer.
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