knowledge Management.doc - Running head KNOWLEDGE...

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Running head: KNOWLEDGE MANAGEMENT 1 Knowledge Management for Senior Management at Bobco Student’s Name: Institution Affiliation: Knowledge Management for Senior Management at Bobco Knowledge management (KM) can be considered as a systematic management of organizational knowledge assets with the primary aim of developing value and meeting strategic and tactical requirements. Knowledge management comprises of assessment, sharing, initiatives, processes, strategies, refinement, and creation of knowledge and systems that sustains and enhance the storage. Knowledge management constitutes a strong tie to organizational strategy and goals and helps in the preservation of knowledge which helps in creating value for the organization. Through KM organization are provided with tools knowledge, structure and people that help in promoting knowledge. Knowledge management requires the organization to utilize a strategy that can help in identify the right knowledge from the right person. Senior management at Bobco can adopt knowledge management in their organization so that they can improve operations of the company. The information at Bobco will be managed
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KNOWLEDGE MANAGEMENT 2 effectively through knowledge management. Effective knowledge management will have a great benefit to the institution and the shareholders. During the implementation of knowledge, the top management at Bobco must ensure that it aligns with the objectives of the organization. There are some behaviors and cultures that should be encouraged by the management and this can be realized through incentives and reward. Hence, the primary objective of the report is to provide an elaborate discussion of knowledge management strategy at Bobco. Benefits of Knowledge Management (KM) For Bobco Improves Decision Making At Bobco decision making is a very important element which should be encouraged through knowledge management. Reliable decisions are made through relevant information which is available in the organization. In an organization information needed for decision making can be delivered through support, structures, search and syndication (Dayan, Heisig, & Matos, 2017). For Bobco to improve their decision-making process there is a need to implement knowledge management which will help in managing vital information in the organization. Through knowledge management different ideas, skills, experiences and knowledge are share and this helps to improve decision making in the organization. Therefore, senior management at Bobco should consider implementing knowledge management as the decision process will be improved (Hislop, Bosua, & Helms, 2018). Enhances Outcomes and Focus Effective implementation of knowledge management is very comprehensive and top management should focus on ideas that would assist the company to meet their business objective (Dayan et al., 2017). The management at Bobco should create a team which is specifically focused on the outcomes that are generated from information contained in the organization. Implementation of knowledge management requires the organization to put more
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