Internal Assessments
Program – MBA
Subject - Knowledge Management
Assessment Type – Internal Assessment (Subjective Assignment)
Questions:
1. What is knowledge management?What are the 3 types of knowledge
management?What is knowledge life cycle?
The knowledge management cycle comprises several stages: discovery, where
knowledge is found; creation, where new knowledge is generated;
organization, where data is structured; dissemination, where knowledge is
shared; and utilization, where it is applied.
1- Discovery
The discovery stage is the first stage of the knowledge management cycle. It is
also known as the exploration phase in this cycle. The purpose of this stage
is to identify what the company knows and what they don’t know, and to
determine how much they need to learn.
The discovery phase in this cycle is when the firm starts to realize that they have
a problem, and they are trying to find solutions for it. They also start looking
for information about what other firms do in similar situations, which helps
them find out what their options are.
This stage can be broken down into two stages: the first being an exploration of
different ideas, where the organization will try out different options; and
then, once they decide on one option, implementation during the
implementation phase.
2- Creation
The knowledge creation stage begins with the idea generation, where
individuals think of something they would like to do. This can be anything
from creating a new product to improving customer service.
Once the idea is generated, it needs to be developed into something tangible
that can be used by others. This step includes gathering feedback from
stakeholders and organizing implementation.
Finally, the new knowledge must be communicated effectively so that others
understand what has been created and why it was created in order to
maximize its use within the organization. The creation stage ends with the
idea communication , where the knowledge is transferred effectively
through various methods such as presentations, videos, and blogs.
3- Organization
The organization stage of the knowledge management lifecycle stages is the
third stage. This is when the organization has reached a stable state and is
able to manage, share, retain, and use knowledge effectively.
The Organization stage can be divided into three distinct phases:
– Knowledge Integration: Integrating knowledge into the organization, which
includes both formal and informal procedures.
– Knowledge Optimization: Optimizing existing knowledge in order to increase
its value.
– Knowledge Management: Managing existing knowledge in order to ensure
that it is used effectively.
4- Dissemination
The dissemination stage is the fourth stage in the knowledge lifecycle. It is
where information and knowledge that was created during the creation and
implementation stages are made available to relevant stakeholders.
Dissemination stage activities include publishing, distributing, delivering,
communicating, and sharing information.
It starts with the initial stage, where decisions are made to how the information
and knowledge created during the creation and implementation stages will
be distributed to relevant stakeholders.
The following are some common tasks within this stage:
Making a room for publication or distribution
Deciding on appropriate communication channels, such as face-to-face
conversations, digital collaboration.
5- Utilization
The Utilization stage is the final stage of knowledge management lifecycle and it
is when the knowledge created by the organization is used to support
decision making and make decisions.
This stage requires significant effort from the team to make sure that they are
maximizing their efforts on this stage. It also requires careful planning so
that the team does not waste time on tasks that do not contribute to the
project.
2. What are KM tools?Why are knowledge management tools important? What are
sources of knowledge management?
Knowledge management tools that work as silent enablers of corporate brilliance. They
enable the capture, storage, and maintenance of a repository of content and data
that can further be treated as valuable insights to drive organizational success. The
tools efficiently facilitate knowledge sharing accessible to stakeholders and
employees.
They are those magical wands of a modern organization that make this story not
just about storing data but also about directing the scattered knowledge into one
unified source, empowering innovation, and fostering collaboration.
Serves as a centralized repository where internal as well as external information can
be stored, organized, and easily accessible. They answer common questions,
troubleshoot problems, and comprehensive documentation. The Knowledge-based
tools also entitle self-service, lowering the burden on the support team.
Learning management systems open the doors for professional development and
learning. They enable storing and delivering educational courses and training
programs in the form of quizzes, lessons, courses, and other materials. The tools
further help track the progress and performance of the learners, whether they are
used by a large number of people in the organization.
3. What is the nature of knowledge management? How the social natures of
learning contribute to the effective outcomes of learning?
Everything you need to know about knowledge management. Knowledge
Management (KM) is the process of generating, accumulating, sharing and
using knowledge for improving organisational performance.
It is creation of new skills, capabilities, competencies and sharing the use of this
knowledge by organisational members. In other words, it is a process of
creating an interactive learning environment where people transfer and
share what they know, internalize it and apply it to create new knowledge.
The term knowledge management is very comprehensive and encompasses
different components from identification of knowledge to making available
the right knowledge at right time to the right users.
However, KM as a discipline is of recent origin, with new concepts emerging
constantly. Often, it is portrayed simplistically, discussions typically revolve
around blanket principles that are intended to work across the organisation.
Knowledge Management – What is Knowledge Management
Knowledge Management (KM) is the process of generating, accumulating,
sharing and using knowledge for improving organisational performance. It is
creation of new skills, capabilities, competencies and sharing the use of this
knowledge by organisational members. In other words, it is a process of
creating an interactive learning environment where people transfer and
share what they know, internalize it and apply it to create new knowledge.
Some experts including Peter Drucker say that “KM is a bad term because
knowledge cannot be managed. You should create conditions for the
generation and application of knowledge, which means learning.”
4. What are the steps in a gap analysis? What is another word for gap analysis? How
do you identify gaps and opportunities?
A gap analysis is a method of assessing the performance of a business unit to determine
whether business requirements or objectives are being met and, if not, what steps
should be taken to meet them.
A gap analysis may also be referred to as a needs analysis, needs assessment or need-
gap analysis.
The "gap" in the gap analysis process refers to the space between "where we are"
as a part of the business (the present state) and "where we want to be" (the target
state or desired state).
In information technology, gap analysis reports often are used by project managers and
process improvement teams as the starting point for an action plan to produce
operational improvement. The gap analysis also helps in benchmarking actual
business performance so it can be measured against optimal performance levels.
Performance gaps can be measured across multiple areas of the business, including
customer satisfaction, revenue generation, productivity and supply chain cost.
Small businesses, in particular, can benefit from performing gap analyses when they're
in the process of figuring out how to allocate resources.
In software development, gap analysis tools can document which services or Functions
have been accidentally left out; which have been deliberately eliminated; and which
still need to be developed.
In compliance initiatives, a gap analysis can compare what is required by certain
regulations with what currently is being done to abide by them.
In human resources (HR), a gap analysis can be done to examine which skills are
present in the workforce and what additional skills are needed to improve the
organization's competitiveness or efficiency.
The first step in conducting a gap analysis is to establish specific target objectives by
looking at the company's mission statement, strategic business goals and
improvement objectives.
The next step is to analyze current processes by collecting relevant data on
performance levels and how resources are presently allocated to these processes.
This data can be collected from a variety of sources depending on what is being
analyzed. For example, it may involve looking at documentation, measuring key
performance indicators (KPIs) or other success metrics, conducting stakeholder
interviews, brainstorming and observing project activities.
5. What are the challenges in implementing knowledge management practices and
e governance? What is a KM job?
In the dynamic landscape of modern business, organizations face a lot of complexities,
and at the forefront lies the critical battleground of knowledge management
challenges. From information overload to ensuring seamless collaboration and
knowledge sharing, they need to come up with strategies and tools to overcome
the barriers encountered in their pursuit of effective knowledge management.
Knowledge management challenges include lack of a formalized KM strategy, lack of
awareness, poor communication channels, poor data quality, lack of resources, lack
of governance framework, lack of integration with other business operations, and
finally lack of metrics and measurement.
Effectively tackling these challenges is essential for fostering innovation, enhancing
decision-making processes, and ensuring organizational agility. By streamlining
knowledge management, companies can benefit from the collective intelligence of
their teams, improve productivity, and adapt quickly to changing market dynamics.
#1- Lack of a formalized strategy
The lack of a formalized knowledge management strategy can negatively affect an
organization’s ability to capitalize on its intellectual assets. Without a structured
approach, there’s a risk of disconnected information flow, leading to inefficiencies,
duplication of efforts, and missed opportunities. A formalized strategy provides a
roadmap for acquiring, organizing, and sharing knowledge systematically, aligning
with organizational goals.
KM Challenge #2- Lack of awareness
Knowledge management is a complex practice and consists of multiple key
components. Not everyone knows what it entails, which can lead to challenges with
defining, collecting, distributing, and retaining internal knowledge.
The LOA is often found in organizations where related policies and vision are most
probably ignored. The LOA aims to address 4 key areas:
Sharing of knowledge in a structured, disciplined manner.
Knowledge contribution.
Building organizational capabilities for knowledge management.
Intellectual property protection for knowledge contributions.
Following up with the latest trends in a consistent manner.
KM Challenge #3- Lack of resources
The lack of resources poses a significant barrier to effective knowledge management
within an organization. Insufficient financial, technological, or human resources can
break the development and implementation of robust applications.
Insufficient funding will limit the acquisition of advanced tools and technologies
essential for organizing and sharing information efficiently. Similarly, a shortage of
skilled personnel dedicated to knowledge management efforts may hinder the
establishment of best practices and impede the cultivation of a knowledge-sharing
culture.
