World Bank's Transformation: A Deep Dive into Knowledge Bank Strategy

This report examines the World Bank's strategic transformation into a knowledge bank, focusing on its shift from a traditional financial institution to an organization that prioritizes knowledge management. The analysis highlights the role of thematic groups, which facilitate knowledge sharing and collaboration, leveraging tools like satellite technology and storytelling to enhance communication and responsiveness. The report discusses the benefits of this transition, including improved speed, quality, and the ability to assist staff, clients, and partners more effectively. It also covers the technological advancements, such as videoconferencing and online learning platforms, that support the World Bank's knowledge-sharing initiatives. Finally, the report references key publications and studies related to knowledge management and the World Bank's operations, providing a comprehensive overview of this transformation.

Knowledge bank
Transformation by World Bank

Introduction to World
Bank
• World bank is a financial
institution
• Accepted internationally
• Aim is to provide loans for
capital projects
• World bank group is having
their headquarters in
Washington, D.C., United States
• President of world bank is Jim
Yong Kim

Knowledge management
• This is a process of
creating, sharing, using
and managing the
knowledge and information
within the organization.
• Provides multidisciplinary
approach.
• Objectives: improved
performance, innovation,
competitive advantage.
• KM is an enabler
organizational learning.

Transformation to
Knowledge bank
• Notion adopted by world bank known as
thematic groups.
• The thematic groups is a community that
practices key strategies.
• Thematic groups were informal groups.
• Connected socially.
• Knowledge sharing can be done freely.
• New knowledge gets formed with the help
off dialogue and interaction.
• More than 100 thematic groups were
recognized by bank..

• With the help of web based satellite
technology and thematic groups people can
interact easily.
• The important tools for thematic groups are
stories and storytelling.
• This was used as agents for mobilizing
knowledge and action.
• According to Dr. Steve Denning head of
knowledge management stories engages
listeners. .

Example – first response was recived
within 20 minutes.
The power of satellite communication
helped to connect eleven countries
within 24 hours.
Responses includes: strategy on
development, transport strategy
Helped to reduce technical costs.
Helped in cross border sharing.

Benefits of
becoming
knowledge
bank
The World
bank
transisted
towards
becoming
knowledge
bank.
The features
includes
speed and
quality
The bank
became
capable of
responding
to their
clients
quickly.
Quality of
work is
delivered to
the
customers.

• Knowledge sharing program
within thr World bank helped in
managing strategies.
• Helped in assisting staffs,
clients and partners.
• Also helps in mainstreaming
knowledge.
• Includes taking initiatives,
implementing process,
suggesting strategies and
enhancing storage.

Technologica
l advances
• In order to manage with the
technological advances , world bank
created a website.
• This website was used for developing
the community.
• The portal built included help desk ,
knoweldge sharing platform on web ,
sites for thematic groups, advisory
services.
• More than 20 advisory group.

Features provided by
satellite technology are
videoconferencing around
the world, providing
teractive TV, online learning
applications that includes
WebCT, video web
based ,newsletter
Apart from this the World
Bank has received awards
by MAKE , for being the Bes
practice partner with the
American Productivity and
Quality Centre.

References
• World Bank Group, 2014. World development indicators 2014. World Bank
Publications.
• Hudson, J., Williams, C., Orviska, M. and Nadin, S., 2012. Evaluating the impact
of the informal economy on businesses in South East Europe: some lessons
from the 2009 World Bank Enterprise Survey. South East European Journal of
Economics and Business, 7(1), pp.99-110.
• Rubenstein-Montano, B., Liebowitz, J., Buchwalter, J., McCaw, D., Newman, B.,
Rebeck, K. and Team, T.K.M.M., 2001. A systems thinking framework for
knowledge management. Decision support systems, 31(1), pp.5-16.
• Alavi, M. and Leidner, D.E., 2001. Knowledge management and knowledge
management systems: Conceptual foundations and research issues. MIS
quarterly, pp.107-136.