The appearance and raining of the economics that’s based on knowledge, has giving a lot of importance for the new fact of an effective management of knowledge. Which is at the same time have been defined as a critical factor for organizations that’s targeting to get a strategic competitive advantage that’s lasts.
Majority of experts agreed that managing knowledge is an important factor and driver of the performance of the organizations and a very critical and sensitive tool for the organizational profitability, competitiveness and stability. The way organizations decided for dealing with knowledge is essential for getting the maximum advantage of the knowledge value.
FunmilolaOlubunmiOmotayo (2015) in his article said in his article that there are three important factors that’s must be taken into consideration while measuring a efficiency of knowledge management in the organizations, and those factors are:
The ideal situation for them all is to connect them all together in a way that’s making organizations leveraging the value of knowledge for their success. (FunmilolaOlubunmiOmotayo., 2015)
For example, while giving it a closer look into CocaCola, you can see this very clear, for example going to their marketing department where anyone can feel the success of it. You can see a great combination of innovative marketers, who are using the available technologies and using the processes are going to the market with a very successful marketing messages that’s driving all the world attention, and very much aligned with the overall situation of the world leveraging it to spread a message that’s supporting their products event if its far far away from the product nature. (Huczynski, A. and Buchanan, D., 2001).
Pamela Babcock (2004) talked about 500 companies that lost around $31.5 billion a year only because that failed sharing knowledge, this is a very alarming and risky sign. Managing knowledge in an active way and smartly, is helping companies to increase their opportunities of building environments that’s depending and growing by learning, and this is by making learning as a done deal and part of the thinking’s inside the single organization. (Pamela Babcock, 2004)
In the conclusion, I want to refer to the term of the time we are in, which is globalization, which is by having this term started to distribute, its forced changing business way of thinking and technologies that’s used which is resulted in a visible impact on the WW organizations. (Antonic, S., 2005)
Practically, one of the new approaches that’s simplifying the knowledge management to the organizations, A new knowledge management approach that is making the companies reached to the objective and impact they are looking for, is by imbedding knowledge into the day-to-day job activates. That’s making it removing human barriers and by then making knowledge management systems much effective and driving the results that objected. Which is in different words meaning that embedding it into the overall processes and structure that’s making it part of the daily activities and job responsibilities without the direct pressure on the employees and help in getting the results indirectly and make the employee feels the value in being in this organization that’s adding to him in return. (Pamela Babcock, 2004)
FunmilolaOlubunmiOmotayo. (2015) Knowledge Management as an important tool in Organisational Management: A Review of Literature. Library Philosophy and Practice (e-journal) Accessed on: 27th Mar 2016. Available on: http://digitalcommons.unl.edu/cgi/viewcontent.cgi?article=3330&context=libphilprac
Huczynski, A. and Buchanan, D. (2001) Organisationalbehaviour: An introductory text. Harlow: Financial Times/Prentice Hall.
Antonic, S. (2005) Knowledge management: A look into our future. University Library “SvetozarMarkovic”. Infoteka, 6(1–2), 77–82. Retrieved from: http://scindeks.nb.rs/article.aspx?artid=1450-96870502077A
Pamela Babcock. (2004) HR Magazine, May 2004 – Shedding Light on Knowledge Management – See more at: https://www.shrm.org/publications/hrmagazine/editorialcontent/pages/0504covstory.aspx#sthash.pINnGnZl.dpuf