What are the major steps involved in developing a KM strategy? What sorts of information is needed to recommend a KM strategy to an organization? List the major categories of stakeholders who should be involved in the strategy formulation process.
Ace your studies with our custom writing services! We've got your back for top grades and timely submissions, so you can say goodbye to the stress. Trust us to get you there!
Order a Similar Paper Order a Different Paper
What are the major steps involved in developing a KM strategy? What sorts of information is needed to recommend a KM strategy to an organization? List the major categories of stakeholders who should be involved in the strategy formulation process.
| Kingdom of Saudi Arabia
Ministry of Education Saudi Electronic University |
 |
المملكة العربية السعودية
وزارة التعليم الجامعة السعودية الإلكترونية
|
College of Administrative and Financial Sciences
Assignment 2 MGT403 (1st Term 2022-2023)
Deadline:12/11/2022 @ 23:59
(To be posted/released to students on BB in the beginning of Week 8)
| Course Name: Knowledge Management | Student’s Name: |
| Course Code: MGT-403 | Student’s ID Number: |
| Semester: 1st | CRN: |
| Academic Year: 1443/1444 H, 1st Term |
For Instructor’s Use only
| Instructor’s Name: | |
| Students’ Grade: /15 | Level of Marks: High/Middle/Low |
Instructions – PLEASE READ THEM CAREFULLY
· This assignment is an individual assignment.
· Due date for Assignment 2 is by the end of Week 11 (12/11/2022)
· The Assignment must be submitted only in WORD format via allocated folder.
· Assignments submitted through email will not be accepted.
· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
· Students must mention question number clearly in their answer.
· Late submission will NOT be accepted.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
· All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted .
ASSIGNMENT-2
Knowledge Management (MGT-403)
First Semester (2022-2023)
Course Learning Outcomes-Covered
| Identify and analyse role of communities of practice in knowledge management and the challenges and issues pertaining to community of practice. |
| Demonstrate effective knowledge management skills to utilize knowledge management tools for the benefits of the organization. |
| Demonstrate ability to work with others effectively as a team member in knowledge management projects, related to case studies. |
The focus of this assignment is to evaluate the understanding level of students related to communities of Practice, learning organization, and various Knowledge management tools for the benefits of the organization.
Assignment Questions
Part 1. Answer in 500-600 Words. ( 7 Marks)
A. Describe the concept of Communities of Practice. Why are “Communities of practice” Important? (2 Marks)
B. How can organizations cultivate communities of practice? How can these communities of practice contribute towards the knowledge needs of the organization? (2 Marks)
C. Provide a detailed description of major roles and responsibilities in a community of practice. (3 Marks)
Part 2. Read Chapter 9 and 10 from the book and answer the following questions. Answer in 500-600 Words. (6 Marks)
A. What are the major steps involved in developing a KM strategy? What sorts of information is needed to recommend a KM strategy to an organization? List the major categories of stakeholders who should be involved in the strategy formulation process. (2.5 Marks)
B. Why is it important to conduct an audit before eliciting stakeholder objectives? (1 Mark).
C. Compare and contrast the three KM metrics of benchmarking, Balanced Scorecard, and house of quality. What are their major advantages and major drawbacks in monitoring progress toward strategic KM and business goals? (2.5 Marks).
References:(2 Marks). 0 Mark for No references, Less than 5 References (1 Mark) More than 5 references 2 Marks.
Answer:
Step-1
1. The steps involved in developing a KM strategy are:
1. Assessing the organization’s current state of knowledge management
2. Identifying the organization’s goals and objectives for knowledge management
3. Identifying the gaps between the current state and the desired state
4. Developing a plan of action to close the gaps
5. Implementing the plan
6. Monitoring and modifying the plan as needed
In order to recommend a KM strategy to an organization, the following information is needed:
1. The organization’s business goals and objectives
2. An assessment of the organization’s current state of knowledge management
3. An understanding of the organization’s culture and how it affects knowledge sharing
4. An understanding of the organization’s structure and how it affects knowledge flows
5. An understanding of the organization’s existing technology infrastructure and how it can be leveraged for knowledge management
6. An understanding of the organization’s existing knowledge assets and how they can be leveraged to achieve the organization’s goals
7. An understanding of the external environment and how it affects the organization’s ability to achieve its knowledge management goals
categories of stakeholders who should be involved in the strategy formulation process are:
1. Executives
2. Middle managers
3. Functional managers
4. Knowledge workers
5. IT staff
6. External consultants
7. Vendors
The answers to the questions above are highlighted below. Explanation: Approach to solving the question: Detailed explanation: Question 1: Developing a KM strategy involves the following steps: 1. Defining the purpose and objectives of the KM strategy. This will help to identify the goals that the strategy should achieve. 2. Identifying the stakeholders who will be involved in the KM strategy. This includes identifying who will be responsible for implementing the strategy and who will benefit from the knowledge that is generated. 3. Conducting a needs assessment to identify the knowledge needs of the stakeholders. This will help to identify the type of knowledge that needs to be captured and shared. 4. Developing a KM plan that outlines the activities that will be carried out to meet the objectives of the strategy. The KM plan should identify the resources that will be required and the timeline for implementation. 5. Implementing the KM plan and monitoring the results. This includes ensuring that the activities outlined in the plan are carried out and monitoring the impact of the strategy on the organization. The organization’s goals, the types of knowledge needed, the stakeholders involved, the budget, and the timeline are all important factors to consider when recommending a KM strategy. The major categories of stakeholders who should be involved in the strategy formulation process are: Senior management. Information technology. Human resources. Line managers. Knowledge workers. These are the major stakeholders who will be affected by the implementation of a KM strategy, and as such, their input is essential in order to ensure the success of the strategy. Senior management must be on board with the goals of the strategy, and information technology and human resources must be able to support the implementation of the strategy. Line managers need to be aware of the changes taking place and be able to support their knowledge workers in using the new tools and processes. Question 2: An audit is important because it provides a baseline understanding of the current state of the organization’s KM efforts. This information can then be used to help set objectives and priorities for the future. It can help identify gaps and areas in need of improvement, and can also help assess the organization’s readiness for change. Question 3: Benchmarking is a way of comparing an organization to others in its industry in order to see where it stands in relation to them. It can be used to measure things like customer satisfaction, employee satisfaction, or financial performance. The Balanced Scorecard is a metric that attempts to measure an organization’s performance in terms of four different aspects: financial, customer, internal process, and learning and growth. The house of quality is a metric that looks at the relationship between different factors within an organization. For example, it might look at how different products are related to each other, or how different departments within an organization interact with each other. There are a few major advantages to using KPIs in monitoring progress toward strategic KM and business goals. Firstly, KPIs can be used to measure progress against specific objectives and goals. This allows organizations to see whether they are on track to achieve their desired results. Secondly, KPIs can help to identify areas where improvements need to be made. This can be particularly useful in strategic KM, as it can help organizations to focus their efforts on those areas where they are most likely to see the greatest impact. There are also a few major drawbacks to using KPIs. Firstly, KPIs can be complex to set up and maintain. This can make it difficult for organizations to track progress over time. Secondly, KPIs can be subject to interpretation and can be difficult to compare across different organizations. This can make it difficult to benchmark progress and identify best practices. Examples: Key references: Meroño‐Cerdan, A. L., Lopez‐Nicolas, C., & Sabater‐Sánchez, R. (2007). Knowledge management strategy diagnosis from KM instruments use. Journal of knowledge management. Binney, D. (2001). The knowledge management spectrum-understanding the KM landscape. Journal of knowledge management. Schroeder, A., Pauleen, D., & Huff, S. (2012). KM governance: the mechanisms for guiding and controlling KM programs. Journal of Knowledge Management. Shih, H. A., & Chiang, Y. H. (2005). Strategy alignment between HRM, KM, and corporate development. International Journal of Manpower.
The answers to the questions above are highlighted below.
Explanation:
Approach to solving the question:
Detailed explanation:
Question 1:
Developing a KM strategy involves the following steps:
1. Defining the purpose and objectives of the KM strategy. This will help to identify the goals that the strategy should achieve.
2. Identifying the stakeholders who will be involved in the KM strategy. This includes identifying who will be responsible for implementing the strategy and who will benefit from the knowledge that is generated.
3. Conducting a needs assessment to identify the knowledge needs of the stakeholders. This will help to identify the type of knowledge that needs to be captured and shared.
4. Developing a KM plan that outlines the activities that will be carried out to meet the objectives of the strategy. The KM plan should identify the resources that will be required and the timeline for implementation.
5. Implementing the KM plan and monitoring the results. This includes ensuring that the activities outlined in the plan are carried out and monitoring the impact of the strategy on the organization.
The organization’s goals, the types of knowledge needed, the stakeholders involved, the budget, and the timeline are all important factors to consider when recommending a KM strategy. The major categories of stakeholders who should be involved in the strategy formulation process are:
Senior management.
Information technology.
Human resources.
Line managers.
Knowledge workers.
These are the major stakeholders who will be affected by the implementation of a KM strategy, and as such, their input is essential in order to ensure the success of the strategy. Senior management must be on board with the goals of the strategy, and information technology and human resources must be able to support the implementation of the strategy. Line managers need to be aware of the changes taking place and be able to support their knowledge workers in using the new tools and processes.
Question 2:
An audit is important because it provides a baseline understanding of the current state of the organization’s KM efforts. This information can then be used to help set objectives and priorities for the future. It can help identify gaps and areas in need of improvement, and can also help assess the organization’s readiness for change.
Question 3:
Benchmarking is a way of comparing an organization to others in its industry in order to see where it stands in relation to them. It can be used to measure things like customer satisfaction, employee satisfaction, or financial performance.
The Balanced Scorecard is a metric that attempts to measure an organization’s performance in terms of four different aspects: financial, customer, internal process, and learning and growth.
The house of quality is a metric that looks at the relationship between different factors within an organization. For example, it might look at how different products are related to each other, or how different departments within an organization interact with each other.
There are a few major advantages to using KPIs in monitoring progress toward strategic KM and business goals. Firstly, KPIs can be used to measure progress against specific objectives and goals. This allows organizations to see whether they are on track to achieve their desired results. Secondly, KPIs can help to identify areas where improvements need to be made. This can be particularly useful in strategic KM, as it can help organizations to focus their efforts on those areas where they are most likely to see the greatest impact. There are also a few major drawbacks to using KPIs. Firstly, KPIs can be complex to set up and maintain. This can make it difficult for organizations to track progress over time. Secondly, KPIs can be subject to interpretation and can be difficult to compare across different organizations. This can make it difficult to benchmark progress and identify best practices.
Examples:
Key references:
Meroño‐Cerdan, A. L., Lopez‐Nicolas, C., & Sabater‐Sánchez, R. (2007). Knowledge management strategy diagnosis from KM instruments use. Journal of knowledge management.
Binney, D. (2001). The knowledge management spectrum-understanding the KM landscape. Journal of knowledge management.
Schroeder, A., Pauleen, D., & Huff, S. (2012). KM governance: the mechanisms for guiding and controlling KM programs. Journal of Knowledge Management.
Shih, H. A., & Chiang, Y. H. (2005). Strategy alignment between HRM, KM, and corporate development. International Journal of Manpower.
Looking for top-notch essay writing services? We've got you covered! Connect with our writing experts today. Placing your order is easy, taking less than 5 minutes. Click below to get started.
Order a Similar Paper Order a Different Paper
