II. Nature of Knowledge and Information:2
III. The Important of Knowledge Management:3
IV. Knowledge Management and Leadership:7
V. Knowledge Management Life Cycle:10
From the past, people used knowledge to do all the things to survive such as hunting and planting. These days, survival in the human life and either in the business, people need to transfer information to knowledge to take advantages. Hanoimilk is one of the famous company’s brand names in Vietnam resulted in the understanding the knowledge for Vietnamese market by providing quality products with the suitable prices, therefore, they have experiences to take advantages more than other competitors. This assignment is going to analyze how well knowledge management can lead the company to the success outcomes. Step by step, the aspects of the knowledge management in modern business will be discussed. After that, it will describe the impact of Knowledge Management to organization, leadership and Knowledge Management processes, finally, is about Knowledge Management Life Cycle.
II. Nature of Knowledge and Information:
There are several forces that are driving knowledge management such as: increasing domain complexity, accelerating market volatility, intensified speed of responsiveness and diminishing individual experience. To understand more clearly about knowledge management, we shall research nature of Knowledge and Information.
Data: is a comprised fact, observations, or perceptions. It represents raw numbers, figures or assertions. For example: one customer is complaining about the hotel’s service Information: Data shall be carefully chosen and process into information. But only timely, relevant, simple, accurate and complete processed data can be considered as valuable information. For example: One customer is complaining about the hotel’s service because his room is still being cleaned when he arrived. Knowledge: is at the highest level in a hierarchy with information at the middle level, and data to be at the lowest level. It is the richest, deepest & most valuable of the three. For example: the hotel is in high season and peak time, that’s why the customer’s room was not yet ready when he arrived. It’s the hotel negligence so they have to apologize and offer the customer a free meal/massage/night not to lose the customer and the hotel’s reputation.
Types of knowledge: There are several types of knowledge; the following types are the most typical ones. * Individual knowledge is collected, learned and shared in daily activities * Causal knowledge is understanding of the relationship between the cause and the effect * Conditional knowledge is referring to “when” and “where” to use tool or strategy to archive goal * Relational knowledge is understanding about the connection between related objects or events * Social knowledge is learned from dialogic interaction with people * Pragmatic knowledge is being practical
* Procedural and Declarative Knowledge
* Declarative knowledge is only considered as variables while procedural knowledge represents steps, actions and process to deliver outcomes.
Tacit and Explicit Knowledge: Tacit knowledge is unclear with insights, intuitions, and hunches, thoughts, feelings. In the other hand, explicit knowledge is clear information with specific words and numbers. We can convert explicit knowledge to tacit knowledge. For example: when we read the news about Japan is being destroyed by earthquake, African children starve to dead. We have the feeling of sadness, compassionate and sympathize.
General and Specific Knowledge: General knowledge is contextually knowledge by a large number of individuals that can be transferred easily across individuals. For example: how to write a formal business letter, how to...