`In the current environment knowledge and its effective management are central to gaining competitive advantage` Discuss

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knowledge management associated with competitive advantage on the in your i cant find any content about competitive advantage thanks

November 8 8 :27 November 9 8 :27 make some argument about how knowledge management gain competitive advantages for company `In the current environment knowledge and its effective management are central to gaining competitive advantage` Discuss

Knowledge management of the organization detonate an ideal knowledge-sharing environment - that is , one in which the correct information would be naturally accessible

to the appropriate individuals and one in which all corporate knowledge would be captured and accessible in an organized and intuitive manner

KM is the set of business processes that capture and provide access to this collective experience . In economic terms , KM represents the production technology ' for such firms whose core product is business knowledge itself . Elie Ofek , Miklos Sarvary , 2001

An important goal of knowledge management systems is to give competitive advantage by giving decision makers (from the highest level to the lowest level ) the needed insight into patterns and trends that affect their domain . In fact , a broad-based KMS environment challenges decision makers to assess changing times more thoroughly . Such an environment permits decision makers to tailor their information and associated knowledge requirements by discriminating according to user-defined criteria

For most companies , information and its interconnected knowledge that is analyzed , shared , and acted upon is what provides the competitive advantage organizations need . The tools an organization employs for the management of technology , for bringing the right resources to the right people , establishes whether or not information and its related knowledge makes a difference of the of magnitude companies are seeking . The development of knowledge management systems that fit organizational needs and can acclimatize to changes in the organization is a vital issue

Selecting and implementing the right technology for the organization takes a thorough understanding of the nature of the business , its organizational structure , its culture , and the way management works That is why those who assist organizations to choose their knowledge direction must look at the organization holistically . Optimizing functions and streamlining processes to build up appropriate company knowledge requires a thorough understanding of the processes , functions and technology in place . This knowledge is then eagerly available for use by company decision makers . Today , this generally means extending knowledge to a company 's trading partners (i .e , customers and suppliers . From this wide-ranging perspective , a KM operating mode centers on managing internal and external information and resultant knowledge in a practical manner to create a competitive advantage that is associated to a company 's business objectives and its considerable goals

Managers constantly spent much of their time on information processing generally defined , according to Mintzberg (1983 ) now often do so interceded by technology in the figure of executive information systems groupware , video-conferencing , and the like . Organizations have been seen in the past as types of information processing (Galbraith , 1973 and now have gathered technocratic descriptors like...