Management Knowledge - Individual Concept Analysis

Essay by kahn267University, Bachelor'sA, March 2009

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Management Knowledge - Individual Concept Analysis"Write an analysis of a concept in knowledge management you find interesting and relevant to the management of organizations today and explain why."Knowledge management is described by J. Angus and J. Patel (1998) as being a way or concept of doing business revolving around the following four processes: "gathering, organizing, refining and disseminating" knowledge. Every economy relies on knowledge as its base and hence the management industry faces opportunities, possibilities and challenges. The rapid expansion of global markets has led to the increased importance of knowledge sharing as it has become "increasingly regarded as the primary source of sustainable competitive advantage" (J. Callaghan, 2002). These developments have lead to the emergence of the concept; the "knowledge economy".

The knowledge economy refers to all the knowledge and skills mobilized in the various fields of the economy. For a knowledge economy to exist, the organizations within that economy need to be a "learning" organization.

A learning organization is one in which people at all levels, individually and collectively, are continually increasing their capacity to produce results they really care about. Therefore, people in learning organizations are passionate about the results they achieve. The key motive for learning organizations is strategic advantage. Strategic advantage leads to increased shareholder value which ultimately means a successful organization.

The organizations desire for strategic advantage and the importance of this for managerial success has lead to technological developments over the past decades enabling information sharing on a scale never experienced before. The Internet was one of the major resulting technological developments which ultimately lead to the development of the Intranet. The Intranet is a secure area of the Internet which facilities low cost information sharing minimizing the dependency on paper-based information storage. The Intranet has become an instrumental technological catalyst in the...