Cultural Levels and Business
February 12, 2025
Advertising campaigns are the groups of advertising messages which are similar in nature. They share same messages and themes placed in different types of medias at some fixed times. The time frames of advertising campaigns are fixed and specifically defined. The very prime thing before making an ad campaign is to know- Why you are […]
As a Marketing student, you might wonder if brand building means advertising or that brand building is achieved through advertisements alone. Well, at this juncture it becomes important to understand that the brands stand for a lot more than just the product and its functional value that it promises to deliver to the customers. Celebrating […]
If internet has had far reaching impact on all walks of life, E trade has had similar impact on all types of businesses. No Organisation big or small, whether a global organisation or an individual owned enterprise can afford to ignore e commerce and e marketing scene. Normally we see people using internet to make […]
Introduction The concept of knowledge as the founding block for attaining competitive advantage has become quite prevalent in Management studies. All knowledge should begin form a piece of information. For the conversion of information into knowledge there is a critical aspect to be noted. This is related to the timing of the retrieval of information. […]
Ever since we stepped into internet world, we find a sea of change in the way people buy, communicate and socialize with one another. Internet has succeeded in erasing the boundaries and bringing markets together. Today it is possible for one to sit in the comfort of his home or office and search for information […]
Knowledge management is the recognition, optimization and effective handling of intellectual assets to build value, enhance productivity, and achieve and maintain competitive advantage. This comprises of the summarization, combination, dissemination and utilization of knowledge in an organization. Thus the management of knowledge comprises of various tasks and functions. The generation of a knowledge management strategy includes an inspection of a range of interconnected notions and aspects. For this first the understanding of what is knowledge is required.
An awareness of what composes knowledge is decisive to its valuable management. For instance, when knowledge is deliberated to be identical with information the concentration will move towards the management of information systems as a substitute for knowledge management.
The different descriptions of knowledge indicate that it has much more meaning than information. There are efforts to differentiate among data, information and knowledge. Knowledge is developed from data, which is primarily processed into information. This information can form knowledge when it becomes an input to a system and when it is confirmed as an applicable, appropriate and functional part of knowledge.
A strategic framework for knowledge management should be relevant for an organization targeting to sustain competitive advantage. The framework should assist an organization to create a clear association between the competitive circumstance and a knowledge management strategy. It should support the organization to institute its competitive advantage. Even as each organization will locate its own distinctive connection between knowledge and strategy, any such competitive knowledge can be categorized on a degree of innovation comparative to the remaining of the particular industry into three groups as below:
After recognizing the competitive knowledge position of the organization it is required to do a SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) to ascertain the strategic gaps in an organization’s knowledge.
This permits the organization to recognize where it has knowledge that it can take advantage of and where it needs to build up knowledge to sustain or expand its competitive position. This is accomplished by examining the organization’s knowledge position in two dimensions:
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