BSBMGT801: Developing Knowledge Management Strategy Report

This report provides a comprehensive analysis of knowledge management strategies, focusing on the African Development Bank as a case study. It begins with an introduction to knowledge management and its importance in organizational operations. The report then outlines the bank's existing knowledge management system, which is built upon three pillars: generating knowledge, integrating knowledge via partnerships, and enhancing knowledge dissemination. It explores various knowledge management tools, such as effective communication and decision support systems, utilized by the bank. Furthermore, the report details the approaches employed in developing a knowledge management strategy, including the consultation method and resource allocation. The final section discusses how the developed knowledge management strategy aligns with the bank's business plan and helps achieve its long-term and short-term objectives, particularly in combating poverty and promoting investment. The report concludes by emphasizing the crucial role of knowledge management in achieving organizational goals and highlights the barriers faced and approaches used in formulating effective strategies.

BSBMGT801 DIRECT THE
DEVELOPMENT OF
KNOWLEDGE MANAGEMENT
STRATEGY FOR A BUSINESS

TABLE OF CONTENTS
• INTRODUCTION
• MAIN BODY
• CONCLUSION
• REFERENCES

INTRODUCTION
• Knowledge management is basically the process through which a
wide range of information is being shared and used for managing the
operations of organizations.
• The main aim of this presentation is to understand the approaches of
knowledge management being used by African development bank and
how they utilize this to conduct their business operations
• This presentation gives a brief about overview of organization,
existing knowledge management system, barriers faced by
organization, knowledge management tools, intrinsic and extrinsic
rewards, approaches in developing knowledge management strategy,
final management strategy, use of final management strategy in
achieving business plan.

OVERVIEW OF ORGANIZATION
• African development bank is basically the multilateral finance institution
being established in 1964 and headquartered in Abidijan. it basically
comprises of the three entities which are African development bank,
African development fund and lastly Nigeria trust fund.
• The main aim and objective of this company is to fight against poverty
and thus improve the living condition of the entire continent via
promotion of investment of private as well as public capital within
projects.
• The primary and the most important function of this bank is to make
loans as well as equity investments for socioeconomic development of
RMC. secondly, this bank also offers a wide range of technical assistance
and help for developing projects along with programs.

EXISTING KNOWLEDGE MANAGEMENT
SYSTEM
• Knowledge management is basically integral to this bank's mission as well as
helps them to grow and diversify in wider geographies. the knowledge vision
of African development is basically to become the premium knowledge bank
for Africa. its existing knowledge management system has three pillars.
• The fist one is to generate knowledge for developing effectiveness. this is core
operation of bank and thus focuses on selective studies for contributing
towards enhancing bank quality. another pillar relates to integrating knowledge
via partnership.
• This strategy ad procedure of knowledge management generally emphasizes
on creating partnership as well as increasing the collaboration together with
external institutions.
• The third pillar of its knowledge management is all about enhancing the
knowledge dissemination as well as sharing. the main of this pillar is to ensure
that the knowledge which is being created intensively reaches the end users.

KNOWLEDGE MANAGEMENT TOOLS
• One of the most effective tool which African development bank utilizes
for developing its well-through strategy is the effective communication.
• The bank ensures the use of effective communication at each and every
level of its hierarchy while developing the strategy of knowledge
management. through effective communication, the bank ensure that
the knowledge is being delivered to each and every employee where
low level or middle level.
• Besides this, the another most important tool which is being used by
this bank while building is strategy is the decision support system
through which they are bale to seek the required knowledge in large
amount via using analytics well as reporting software.
• Thus, this is the another important tool.

APPROACHES IN DEVELOPING KNOWLEDGE
MANAGEMENT STRATEGY
• The most effective strategy which the bank uses for developing its strategy of
knowledge management is consultation method. this method is generally
designed for ensuring proper and systematic approach in successful
knowledge management.
• This approach helps them to implement this knowledge management in the
most effective way by communicating with senior management and by
creating the culture of knowledge sharing.
• Another approach which has been used for effectively developing strategy of
knowledge management is proper allocation of the resources.
• The bank made use of various resources like manpower, money etc for
converting the idea into strategy and thus ensured its proper allocation. bank
assessed the various resources which would be required for proper
implementation and thus prioritized according to their use.

FINAL KNOWLEDGE MANAGEMENT
STRATEGY IN MEETING BUSINESS PLAN
• The strategy of final knowledge management will help African
development bank to achieve their long term as well as short
term objectives and goals.
• The business plan of the company mainly includes their
mission which is to fight against poverty through promoting
investment of private along with public capitals.
• Thus this strategy will help to achieve their business plan and
integrate it with the strategic vision.
• Besides this, it also help to achieve the strategic view of
company which is spurring sustainable economical
development in regional member countries.

CONCLUSION
• It has been summarized that knowledge management plays an important role in organization and
thus helps them to conduct their business operations.
• The organizations faces a wide range of barriers while implementing the knowledge management
and thus uses a wide variety of approaches for effectively formulating the strategy.
• Knowledge management strategy helps organizations to achieve their long term as well as short
term objectives and goals.

REFERENCES
• LIEBOWITZ, J., 2019. BUILDING ORGANIZATIONAL INTELLIGENCE: A KNOWLEDGE MANAGEMENT PRIMER. CRC PRESS.
• HISLOP, D., BOSUA, R. AND HELMS, R., 2018. KNOWLEDGE MANAGEMENT IN ORGANIZATIONS: A CRITICAL
INTRODUCTION. OXFORD UNIVERSITY PRESS.
• NORTH, K. AND KUMTA, G., 2018. KNOWLEDGE MANAGEMENT: VALUE CREATION THROUGH ORGANIZATIONAL
LEARNING. SPRINGER.
• 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.
• LIEBOWITZ, J. AND FRANK, M. EDS., 2016. KNOWLEDGE MANAGEMENT AND E-LEARNING. CRC PRESS.