Business Development: Knowledge Management Report on Woolworths

This report provides an analysis of knowledge management practices within Woolworths, an Australian supermarket chain. It explores the nature of the company and its approach to knowledge management, emphasizing the importance of effective communication and collaborative tools. The report identifies Woolworths' knowledge assets, categorizing them as dynamic, supportive, and low-value, and discusses the strategies for knowledge dissemination, including the use of social networking, wikis, and databases. It highlights the impact of information technology and the importance of a skilled workforce in managing knowledge. The report also references relevant literature and online resources to support its findings, providing a comprehensive overview of knowledge management within the organization.

Knowledge Management
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Table of Contents
TASK 3
Nature of the company and knowledge management within this company 3
Knowledge assets of the company and the way of knowledge dissemination 3
REFERENCES 6
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TASK
Nature of the company and knowledge management within this company
Knowledge management is a process of sharing and updating knowledge all necessary
information’s within an organization (Hislop, Bosua and Helms, 2018). It plays an important role
as it helps employees and the company to know all details and aware of tasks as it saves their
time and cost. Woolworths is a supermarket and a grocery chain of Australia which was founded
by Woolworths group in the year of 1924. Its headquarter is in the Australia which serves and
provides its services to Australia, New Zealand. It has approximate 205,000 employees which
shows that it is the largest supermarket (Garg, Pandey and Vashisht, 2018). It provides its
services to approximate 29 million customers. In the context of knowledge management it can be
said that it uses the right language and mainly focuses on communication. The main aim of
knowledge management is to introduce all details and strategies of the company to employees.
With the help of an effective communication and languages, it manages knowledge at its
workplace. This is the best way of enhancing interaction among all the workers and minimising
the conflicts at workplace. It also makes an effective use of collaborative tools and techniques
which helps it out in managing knowledge of the company in an efficient manner . List servers,
E-mail groups and other are some examples of collaborative tools which is mainly used for
taking advantages of an effective knowledge management. It is stated that by using all these
strategies, it makes itself able to take competitive advantages and also become the market leader
in its industry (Knowledge Management Within Woolworths Ltd, 2011).
Knowledge assets of the company and the way of knowledge dissemination
knowledge management played a vital role as it helped the company in sharing, accessing
and updating business knowledge for accomplishing goals. It has also shown the ways of
managing and spreading knowledge within an organization. Information technology and
collaboration of different tools is the main key of the success and effectiveness of the knowledge
management. The impact of information technology in creation and management of knowledge
is also being identified. It is identified that knowledge management have direct impact upon the
financial services products (Current Standard of Woolworths Ltd, 2015). Supporting the whole
team for providing the best services to customers is the main aim of knowledge management. It
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is also stated that Woolworths has set their standards of quality services and to its potential
customers. Demand and capacity management, supply chain management and other strategies
help this company to manage knowledge within its workplace (Sigala and Chalkiti, 2015).
In the context of knowledge assets this company includes the parts of the company like
intellectual property, knowledge, best practices etc. There are mainly 3 types of assets are there
in Woolworth Ltd such as: Dynamic, supportive and low value. Dynamic assets includes all
those assets that have profitability but not the durability. On the other hand, supportive type of
includes those asset that great durability but have little profitability. And in the last type of
knowledge asset, low value have limited durability as well as profitability. For example, outdated
technology, skills etc. Managing knowledge asset is the main key by which company can satisfy
its stakeholders, customers and other members that are involved with the company directly and
indirectly.
Knowledge dissemination is also n important part which can help the company in
managing knowledge and asset in an effective manner. It can also be said that in this context that
Dissemination is the interactive process of communicating knowledge to target audiences so
that it may be used to lead to change. If company is able to manage people and share
knowledge to people in significant manner, then this may give desired results to organization.
To spread knowledge and all relevant resources to employees and customers also support to the
company or Woolworth in increasing its brand image. The way of spreading knowledge shows
customers the nature and working behavior of the company. Social networking WIKI blogs
and lessons databases are some effective ways by which Woolworths Ltd share and transfer
their knowledge among employees and customers and make them satisfy as well as motivate to
buy products. For keeping effective and important knowledge and information’s within the
company, they also records all calls and have backup of messages which helps them out to get
any type of information’s. Capturing valuable knowledge in an effective and useful format,
there is a requirement for Woolworth to empower employees with a knowledge transfer plan
that need to be followed by them. For example, Employing an effective marketer that can keep
all necessary information’s at their own and give relevant information’s to others.
So, it can be said that collaboration of different tools and skilled workforce is the main
key that help the company in managing knowledge.
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REFERENCES
Books and journal
Garg, S., Pandey, D.K. and Vashisht, A., 2018. Importance of Knowledge Management for
Organizational Management. Deliberative Research, 37(1), pp.41-45.
Hislop, D., Bosua, R. and Helms, R., 2018. Knowledge management in organizations: A critical
introduction. Oxford University Press.
Nordøy, I.M., 2017. An organizational capability perspective on knowledge management: The
effect of knowledge management capabilities on organizational effectiveness of maritime
equipment suppliers in Møre and Romsdal (Master's thesis).
Sigala, M. and Chalkiti, K., 2015. Knowledge management, social media and employee
creativity. International Journal of Hospitality Management, 45, pp.44-58.
ONLINE:
Knowledge Management Within Woolworths Ltd. 2011. [ONLINE] Available through:
<https://bradhinton.wordpress.com/category/knowledge-management/page/1/>.
Current Standard of Woolworths Ltd. 2015. [ONLINE] Available through:
<file:///C:/Users/Administrator/Downloads/129-506-1-PB.pdf>.
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