Components of Commercial Value Chain
Introduction The concept of the value chain was introduced by Michael Porter. The concept helps categories’ activities undertaken by enterprise to deliver a successful product to a customer. The concept since its introduction in 1980s has become a forefront in developing strategies around customer delight and commercial success. The value chain is series of activities…
Communication Systems and Groupware – Information System Concepts that Apply in All Functional Areas of Business
Introduction Information systems can be defined as set of co-ordinated network of components, which act together towards producing, distributing and or processing information. Information systems in conjunction with information technology have various applications in today’s business environment. Communication System The process of transmitting information from one place to another is called communication. The transfer of…
The Changing Face of Business Environment
Introduction The last decade has shown rapid development in the information technology and its application. This has helped changed the way we look at the world as well as the way business is conducted. Both business and trade have gained under the wave of information technology with improvement in efficiency, productivity and bottom line. Productivity…
Knowledge is very important for survival of organization. Historically, employees have gathered knowledge through trial-and-error method or by working as an apprentice under a tenured knowledgeable employee. Management guru Peter Drucker forwarded a concept that knowledge is as valuable as a company’s various asset like plant, machinery, etc.
Knowledge provides a competitive advantage to an employee as well as the organization. The data and information which come with knowledge help organization make an informed decision. For example, knowledge about competitors pricing model or business strategy can help organization work towards bettering the competitor. Historical data e.g sales data, pricing data, etc. can help organization improve existing or proposed business initiative.
Knowledge management is a highly iterative process which consists of six major tasks like create, capture, refine store, tag and circulate. The first step is to create or capture data and store it at appropriate location. The second step is to refine the data into meaningful information. The third step is to transmit information to relevant stakeholders.
There are two types of knowledge, which need to be capture as part of knowledge management. The first type is hard data in terms of numbers and figures. The second type of knowledge is the interpretation of data captured based on experience. The real need of the knowledge management system is to provide access to the knowledge base whenever required.
The systems develop to capture, create, refine, tag and circulate information used to improve business productivity of the organization. There are three broadways of managing the knowledge system. The 1st way is utilization of information technology and systems to improve business efficiency. The 2nd way is utilization of organizational method to improve business efficiency. The 3rd way is creating a healthy workplace to facilitate improvement of business efficiency.
The structure of the knowledge management system is dependent on the business strategy of the organization. The final structure needs to have alignment of technology, organizational structure and work culture.
Based on structure and requirement of organization, there are several types of knowledge management systems. Some of them are as follows:
These are knowledge management systems developed to facilitate a Subject Matter Expert. This module provides knowledge of different subjects.
In the current global scenario, team members are spread across regions. However, it is important for them to collaborate on various projects. Groupware is a knowledge management system which helps in sharing calendar, project activities and instant messaging.
It is important for team to store various documents at a single location. SharePoint enables a user to store multiple version of the same document, helps a user search through folders for document, etc.
Decision support system helps floor managers; Sales Manager, CEO, etc. take decisions to finalize business or operational strategy. Decision support system comprises of primary data as well as secondary data. Decision support system enables editing of data and converts it information in the desired format.
Knowledge management systems which support active storage and retrieval of data are known as a database management system.
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Himanshu Juneja, the founder of Management Study Guide (MSG), is a commerce graduate from Delhi University and an MBA holder from the esteemed Institute of Management Technology (IMT). He has always been someone deeply rooted in academic excellence and driven by a relentless desire to create value. Recently, he was honored with the “Most Aspiring Entrepreneur and Management Coach of 2025 (Blindwink Awards 2025)” award, a testament to his hard work, vision, and the value MSG continues to deliver to the global community.
Communication Systems and Groupware – Information System Concepts that Apply in All Functional Areas of Business
April 3, 2025
