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The Case for the Importance of the HRM Function even in Recessionary Times In these recessionary times, it is tempting for the companies to cut the budgets of the HRM function and focus on cost control and trimming as a means of profitability. Further, with the squeeze on hiring by many companies, one of the […]
Advantages and Disadvantages of Job Analysis
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The Return on Knowledge
Knowledge management has been a buzzword amongst modern day companies for a few years now. However, many companies are still skeptical about investing significant sums of money in a knowledge management system. This is because the return on knowledge management can be difficult to measure. When companies undertake other cost-cutting or business improvement activities, the […]
Benefits of a Performance Management System
A good performance management system works towards the improvement of the overall organizational performance by managing the performances of teams and individuals for ensuring the achievement of the overall organizational ambitions and goals. An effective performance management system can play a very crucial role in managing the performance in an organization by: Ensuring that the […]
Ways to Improve Employee Satisfaction
Employee satisfaction plays an essential role in motivating the employees to deliver their level best and also leads to a positive ambience at the workplace. Employee satisfaction is no rocket science and trust me; it does not take much to satisfy your employees. Small but sincere efforts are enough to satisfy employees so that they […]
It has been extensively identified that knowledge is an important aspect for an economy to develop. We are seeing a lot of transformation rapidly happening in our society. Every day we are seeing that we are becoming more and more dependent on knowledge. If this is the case with our societies, the scenario is not much different for organizations. Nowadays, if top management is asked to underline a single resource which is most critical for their organization to achieve and sustain competitive advantage, most of them will be selecting - “Knowledge”. With such an importance to knowledge, managing it has become a serious concern for organizations. An organization which can built excellent process to manage knowledge, certainly will have a competitive edge over its competitors.
Agreeing on the existing concentration by organizations and the character of extreme competition, a critical activity taken up by them is knowledge management.
Knowledge management (KM) cannot be achieved with a single definite activity. It involves an assortment of activities. These are usually referred to be knowledge activities. The utilization of the knowledge activities at the resources connected to knowledge which is limited and assisted through an extensive choice of aspects will result in KM.
Research studies do indicate a number of knowledge activities which are important. Some of them are as below:
Research studies indicate that knowledge transfer deserves the most careful attention among these activities so that the organizations can manage knowledge successfully.
The conveying of knowledge from one member to another member of organization involves knowledge transfer. Though this is a simplified definition, knowledge transfer itself is a complex process. First of it has to be noted that the knowledge conveyed is correct and also it should reach the proper member of the organization. In addition, the timing and form of the knowledge which is conveyed should also be accurate. Above all these aspects, the expense of this conveyance should be within acceptable limit. When all these are achieved, the knowledge transfer can be termed as successful. So as to garner profits of knowledge management, it is critical that knowledge transfer has to be done successfully.
In the existing phase where technologies are rapidly developing to share information, organizations are giving more emphasize to knowledge transfer. In addition to this, it must be noted that the created knowledge will help to attain improved performance for an organization when the transfer process takes place. There is no use in keeping the knowledge at the originating location. It has to be passed to the location where it can be exploited to the advantage of organization. Such an exploitation generates value for the organization, which in turn, bring to it the required competitive advantage. So, it is essential that an organization has to put firm foundation for the process targeted at achieving knowledge transfer.
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