Comprehensive Report on Knowledge Management in Global Businesses

This report provides a comprehensive analysis of knowledge management (KM) within global businesses. It begins by defining KM and its importance, emphasizing the need for effective knowledge asset management to navigate complex business challenges. The main body of the report explores the causes of KM failure, including over-specialization, over-reliance on technology, and behavioral issues, along with strategies to mitigate these problems. It suggests developing interdepartmental relationships, planning technology investments, and fostering a culture of knowledge sharing. The report then outlines a six-stage implementation process for KM, including problem identification, team building, technological implementation, knowledge auditing, milestone setting, and program improvement. The conclusion reinforces the significance of KM in resolving organizational issues. The report references various books, journals, and online resources to support its findings, providing a solid foundation for understanding KM principles and practices.

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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Knowledge management (KM) can be defined as effective management of knowledge assets
in business in order to create value in business (Hislop, Bosua and Helms, 2018). Global
companies have to face various issues and it is essential for them to deal with such problems
effectively by finding integrated solution otherwise companies may get failed to sustain in
market for longer duration. Alpha KM technique is used by business with the objective of
creating a blueprint that may help in handling service market leadership. By using this KM,
enterprises can manage knowledge globally. Study will describe aspects related to KM.
MAIN BODY
Causes of failure and strategies to solve that problem
KM get failed due to several reasons, one of the major cause of failure is high attention over
particular area only. Most of the global firms focus on generating revenues and fail to look at
other business areas which results in failure in managing their knowledge assets effectively
(Omotayo, 2015). In order to overcome that problem firms are required to develop relationship
between different departments so that managerial persons can pay attention on each activity
hence no area will be unobserved.
Apart from this high dependence on information technology is considered as another
major cause of failure of KM. Most of the companies spend high amount in knowledge
management. For minimising the over expenditure problem global companies have to ensure
proper planning of investment in people, technology etc. This will result in managing knowledge
assets of organisation in significant manner (Kianto, Vanhala and Heilmann, 2016).
In addition, behaviour issue is another cause of failure in managing knowledge
management. For resolving that problems companies are required to develop understanding
about document knowledge etc. It has to continuously conduct survey and have to take
interviews with respective members which will help in creating proper structure which will help
in managing these knowledge assets effectively. Firm has to gather data from various knowledge
sources which will support in making proper KM plan (Inkinen, 2016).
Implementation of KM
Stage 1: Identification of business problem
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Global companies should first identify the actual issue and root cause of that problem that
would help in making proper plan for resolving that issue. By this way integrated solution for
handling service market leadership will be received (Omotayo, 2015).
Stage 2: Change preparation and creating potential team
Now experts have to recruit most deserving candidates and also they have to build
relationship with them and have to create healthy workplace culture to encourage people so that
they share their knowledge and behave positive in business unit.
Stage 3: Technological implementation
Now global firms have to implement new technology that may support in managing
knowledge assets properly (Seven Steps to Implementing Knowledge Management in Your
Organization, 2019)
Stage 4: Knowledge audit
Now there is requirement of conducting audit to assess the actual current situation of
business unit so that issue can be resolved soon.
Stage 5: Building blocks
After that global companies should set milestones and have to prepare proper roadmap so
that long term goal of business can be obtained.
Stage 6: Improvement in KM programs
At last management has to measure the success of KM plan and has to make necessary
changes in the programs so that entity can gain desired results on it.
CONCLUSION
From the above study it can be concluded that management of knowledge assets can help
in resolving complex problems of the organisation effectively.
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REFERENCES
Books and Journals
Hislop, D., Bosua, R. and Helms, R., 2018. Knowledge management in organizations: A critical
introduction. Oxford University Press.
Inkinen, H., 2016. Review of empirical research on knowledge management practices and firm
performance. Journal of knowledge management. 20(2). pp.230-257.
Kianto, A., Vanhala, M. and Heilmann, P., 2016. The impact of knowledge management on job
satisfaction. Journal of Knowledge Management. 20(4). pp.621-636.
Omotayo, F. O., 2015. Knowledge Management as an important tool in Organisational
Management: A Review of Literature. Library Philosophy and Practice. 1(2015). pp.1-
23.
Online
Seven Steps to Implementing Knowledge Management in Your Organization. 2019. [Online].
Available through < http://www.systems-thinking.org/kmgmt/km7steps.pdf >
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