Portfolio On Knowledge Management Company -Myassignmenthelp.Com

Question: Discuss About The Portfolio On Knowledge Management Company? Answer: Introduction Knowledge management system is referred to as a type of IT system which is widely used by most of the large and medium business organizations to store and fetch knowledge. In addition to this, it also helps to improve collaboration by locating knowledge sources for hidden knowledge, capture and uses of knowledge. It also helps to increase the Knowledge management processes in the business organization. The aim of the portfolio is to identify different knowledge management practices and theories used in Walmart Company for gaining huge competitive advantages and measurable as well as successful revenue. In different nations the company runs a huge departmental stores and warehouse application thoroughly. This portfolio reflects a critical analysis on different knowledge management practices and theories those are applicable in the business organizations. An implementation roadmap of the insightful and detailed evaluation of knowledge management system in Walmart is also elaborated in this portfolio. Proposed knowledge management strategy Walmart is one of the most well-known multinational companies that run huge chain of departmental stores in United States. If the annual revenue of the company is calculated then it will be found that from the revenue gaining aspects the rate of the revenue of this particular company is the highest. Among different knowledge management system the most suitable KMS for Walmart, Managing Information System is found to be most beneficial one (Calvo-Mora et al. 2015). Over 2.3 Millions of staffs are working for this big private company. However with the help of the knowledge management system the company is willing to improve their business process accordingly. However, it is generally used in different business organizations in terms of Information system, public policy and general management system etc. However; the large organizations also invests huge to improve their existing knowledge management system (Wang, Noe and Wang 2014). From different KM practices the most suitable strategy is identified and illustrated in this portfolio. Exceptional knowledge management system Based upon the business practices of Walmart, accurate knowledge management strategy is needed to be adopted by the company. It is expected that, KM strategy will help the business organization to minimize the rate of issues and also increase the effectiveness of the business practices (Geisler and Wickramasinghe 2015). Several KM practice models are there those are widely used in the business organizations for creating knowledge management strategies. Knowledge management system is nothing but KM tool that is used during the business practices to define the relevant knowledge that is helpful for the implementation of a particular business strategy. Different types of knowledge management systems are there and based upon the application and business requirements the most suitable KMS is needed to be adopted by Walmart to increase the sales rate and revenue respectively (Dehghani and Ramsin 2015). The different types of KMS are as follows: Decision Support System (DSS): With the help of this system the consumer will be able to access required information stored in an organized manner within the server. This system is useful for the organizations to make effective decision making in a much easier way. Database management system: In order to store and retrieve data from the storage the most useful knowledge management system that can be assisted is a database management system (Sein-Echaluce et al. 2017). From the business perspectives this approach is very much secured and data cannot be accessed by the unwanted users. Only the authorized users will be able to access data stored in the database system and the unauthenticated users are not allowed to access information from the server. Simulation system: In order to model real world scenario, the simulation system is used by the business organizations. Not only this but also to test the effects of the test scenario that is whether the result is unsafe or safe, economically profitable or not this real world equivalent checking is very much important (Munoz et al. 2015). Information system: This is another KMS that is widely used by most of the business organizations to manage large set of information regarding their consumers and employees details. Knowledge management process deals with general knowledge management whereas; the KM strategy helps to develop long term knowledge management strategy. The previously outlined process can be improved by sharing knowledge and strategic objectives. For Walmart Company the most suitable Knowledge Management Model is the Integrated Knowledge Management model (Jarle Gressgard et al. 2014). KMS is the first system that is used to deal with the specific IT oriented issues. The knowledge management strategic initiatives are as follows: Investment: In order to support the existing structure investment is needed to be done for competencies, knowledge retention mechanism, culture and external network. Removal: The obsolete knowledge set are required to be removed from the system Identified set of issues While analyzing the knowledge management practices of Walmart it has been found that, certain issues are associated to it those are needed to be mitigated (Gemino, Reich and Sauer 2015). The identified issues of Wal-Marts Knowledge management system are as follows: Overloaded balanced data: With the increasing size and diversity of valid information associated to Walmart, it has been found that overloaded balanced data is referred to as one of the most vital issues that have been identified (Rezaei, Karimi and Hosseini 2016). If it is found that, the system is limited within small groups, and then it might happen that the data gets lost from the server (Schmitt 2014). Again if it is found that the system is wide enough then information overload might also take place. Inaccurate knowledge flow: Improper knowledge flow is another vital issue that has been identified in case of Walmart. Accurate structuring of knowledge is very much important to ensure that the flow of information is going on the right track. In order to fill the extensive skills and questionnaires the employees who are working for the business organizations must add accurate data within their documents (Bautista et al. 2017). The company fails to appreciate the contribution of the employees with necessary motivation, rewards and support. Due to this reason the knowledge fails to flow on the right track. Negative long term impact of Knowledge Management System: Each time it is not necessary for the issues of KMS to be resolved easily. Rather in some case these issues cannot be resolved easily. Both exploitation and exploration are the issues raised as the long term problems in WalMarts knowledge management system (Garfield 2014). In spite of developing new solution the issues of the existing system are required to be resolved. However, the company fails to make the necessary changes. Issues with technical adoption: The staffs working for the company are failing to adopt the application and its evolved operational and functional excellence. Due to this particular reason the cost of the KMS exceeds the expected budget. Synthesis and application of Knowledge management theories and practices There are some business organizations which thoughts that the KM system is deals with the usage of Information Technology in the business. However, KMS helps to build proper relationship between the technology and experience of the employees. In order to exchange information and knowledge the KM models and systems are used by the business organizations. According to Geisler and Wickramasinghe (2015), the most highlighted KM system is used in Walmart Company. The Knowledge management strategy used by Walmart is integrated system which integrates the supply chain with the Knowledge management. At the logistics end of the business supply chain is referred to as the most effective form of business to gain enough revenue. It helps to increase the number of employees by connecting them with their job professions. Dalkir and Beaulieu (2017) stated that, the supply chain management system used by any business organization d required to be consumer focused, flexible, financially proper and damage free as well. In order to gain measurable and structural revenue the management authority of the company must focus on sales improvement, reduced cost, efficient distribution and distributed as well as logistics management (Laudon and Laudon 2016.). The company has recently changed their focus from supply chain to demand chain. It implies that the c ompany has currently implemented their KMS in such a way so that all the managerial issues could be resolved accordingly. Awareness and interpretation of the research While defining the knowledge management system of Walmart it has been found that, the company is much focused to their KM strategies and application. However, the company fails to identify the set of necessary knowledge (Schmitt 2014). In order to meet the business requirements the necessary KMS those have been identified include the following: Things of business: Walmart must focus on the way through which the product cost can be reduced and the number of deliveries can be increased accordingly. Therefore, not only the traditional cost structure but also the managerial head of the company must know better about the details of the products (Armstrong and Taylor 2014). Another thing on which the company needs to focus on includes products availability and nature of the suppliers. Processes: The Company collects products from different suppliers and due to this reason they needs to know about the ways of moving products from the suppliers to the consumers. The direction of efficient movement starts from picking goods from the plants, distributing the goods through the distribution channels and delivery of the products to the exact location (Wang Noe and Wang 2014). Again the company is needed to build proper relationship between the suppliers and the materials or good to be delivered to the consumers. Event, agents and responses: In order to lead time, inventory management and to provide better services to their consumers proper response is needed to be done by Walmart. Motivation and business values: The objective of Walmart is to deliver accurate products to the consumers with affordable price and quality as well (Dehghani and Ramsin 2015). Distribution details: The Company is doing global business to gain effective revenue and structured profit as well. Thus to meet the demand f the consumers they are needed to focus on the changing regulatory, logistic issues and global opportunities as well. Connection with knowledge management theories According to Geisler and Wickramasinghe (2015) different contingencies rather motives are available in the business organizations those are needed to establish and maintain the version of the originals. After identifying the issues of KMS in Walmart it has been found that, those are required to be mitigated accordingly with proper knowledge management theory. Based upon six basic contingencies the theory is needed to be established. The contingencies of the theory are as follows: Need: The participants of the company are needed to achieve the legal as well as legal and political requirements. Power: In order to preserve the autonomy and control the performance of the business organization proper power is needed in terms of motivation. Stability: The rate of both risks and uncertainty should be reduced properly. Cost: In order to economize the transaction cost from other organizations should adopt accurate KM strategies. Legitimacy: The employees and other stakeholders associated to Walmart must focus on providing proper justification to their activities. In addition to this, the employees are required to be socially responsible. Goals: In each of the project initiation phase, the project team members must adopt proper activities in terms of organizational goal (Dehghani and Ramsin 2015). It has been found that, effective goal sharing will help the organization to meet their goal. With the help of the Knowledge management strategies and metrics two different things can be discussed accordingly and that includes the followings: An appropriate KM strategy helps to create link between the business application and the business objectives. In order to monitor the progress of the organization towards their business goal, good metrics are needed to be framed up with accurate measurements For Walmart this Knowledge Management Strategy has been adopted because it can provide the followings: It can provide the building blocks It helps to achieve the organizational learning and continuous business development In order to avoid time wastage repetitive mistakes should be avoided to make sure that everyone if familiar with the newly adopted system application details. Depth analysis of knowledge management system From the current analysis of the market it has been found that proliferation of knowledge management software is one of the vital solutions those are widely served by the business organizations of companies to gain effective and measurable revenue from the competitive market place. However; selection of appropriate Knowledge management system is another tough job for the business authority (Dehghani and Ramsin 2015). In order to support the knowledge workers it is very much necessary to select the appropriate KMS. As the most widely used problem solving approach, most of the companies uses SISTeM Cycle 1 based action research framework (Jarle Gressgard et al. 2014). The identified issues of knowledge management system are as follows: In some cases it happens, that the generated knowledge are not stored in the server or might have lost from the system. Due to lack of knowledge the participants fail to fix these issues according to the requirements (Gemino, Reich and Sauer 2015). Due to lack of missing key concerns, technical staffs and technical abilities of Knowledge management system, the company fails to meet the requirements of the consumers and other business units. Implementation roadmap ok Knowledge management system In order to gain effective revenue from the market place Walmart is required to follow the accurate steps to meet the KMS requirement. Particularly for Walmart the implementation path or roadmap is as follows: Establishment of program objectives of Knowledge management system Preparation for necessary changes High level processes are to be defined Determining and prioritizing the technology requirements Current state should be access whenever needed Implementation of Knowledge management roadmap to analyze the gap and economic condition as well. Conclusion From the overall discussion it can be concluded that, the Knowledge Management System (KMS) used by Walmart was not that much effective from the consumers and business perspectives. Thus, it is necessary for Walmart to improve their existing Knowledge Management System (KMS) to gain effective business revenue. The set of knowledge must be organized properly to make the system mush valuable and useful as well. The dimensions of KMS used in Walmart include connectedness, perspective, congruency and completeness. It is expected that, the business gaps would be minimized accordingly if accurate KMS strategies are adopted by the company. In order to gain competitive advantages and long lasting business sustainability few advanced models and innovative practices are adopted by the company. With the help of proper KMS the company would be able to make proper decision for the business organization. The different knowledge management system practices used by Walmart and the most appropriate K MS strategy that might mitigate the issues of business practices are elaborated in this portfolio. From critical analysis it has been found that the company uses the KM strategies to create distributive strategic insight and specific experiences as well. In order to improve the internal knowledge management practices from critical analysis the most suitable KM strategy is adopted for this company References Armstrong, M. and Taylor, S., 2014.Armstrong's handbook of human resource management practice. Kogan Page Publishers. Bautista, S., Llovet, J., Ocampo-Melgar, A., Vilagrosa, A., Mayor, .G., Murias, C., Vallejo, V.R. and Orr, B.J., 2017. Integrating knowledge exchange and the assessment of dryland management alternativesA learning-centered participatory approach.Journal of environmental management,195, pp.35-45. Calvo-Mora, A., Navarro-Garca, A. and Periaez-Cristobal, R., 2015. Project to improve knowledge management and key business results through the EFQM excellence model.International Journal of Project Management,33(8), pp.1638-1651. Dalkir, K. and Beaulieu, M., 2017.Knowledge management in theory and practice. MIT press. Dehghani, R. and Ramsin, R., 2015. Methodologies for developing knowledge management systems: an evaluation framework.Journal of Knowledge Management,19(4), pp.682-710. Donate, M.J. and de Pablo, J.D.S., 2015. The role of knowledge-oriented leadership in knowledge management practices and innovation.Journal of Business Research,68(2), pp.360-370. Garfield, M., 2014. Proposing a Knowledge Management System (KMS) Architecture to Promote Knowledge Sharing Among Employees. InTwenty Second European Conference on Information Systems (ECIS) Proceedings, Tel Aviv 2014(pp. 1-13). Geisler, E. and Wickramasinghe, N., 2015.Principles of knowledge management: Theory, practice, and cases. Routledge. Gemino, A., Reich, B.H. and Sauer, C., 2015. Plans versus people: Comparing knowledge management approaches in IT-enabled business projects.International Journal of Project Management,33(2), pp.299-310. Jarle Gressgard, L., Amundsen, O., Merethe Aasen, T. and Hansen, K., 2014. Use of information and communication technology to support employee-driven innovation in organizations: a knowledge management perspective.Journal of Knowledge Management,18(4), pp.633-650. Kasemsap, K., 2015. The role of data mining for business intelligence in knowledge management.Integration of data mining in business intelligence systems, pp.12-33. Laudon, K.C. and Laudon, J.P., 2016.Management information system. Pearson Education India. Munoz, A., Lopez, V., Lagos, K., Vsquez, M., Hidalgo, J. and Vera, N., 2015, October. Knowledge management for virtual education through ontologies. InOTM Confederated International Conferences" On the Move to Meaningful Internet Systems"(pp. 339-348). Springer International Publishing. Premkumar, V., Krishnamurty, S., Wileden, J.C. and Grosse, I.R., 2014. A semantic knowledge management system for laminated composites.Advanced engineering informatics,28(1), pp.91-101. Rezaei, H., Karimi, B. and Hosseini, S.J., 2016. Effect of cloud computing systems in terms of service quality of knowledge management systems.Lecture Notes on Software Engineering,4(1), p.73. Schmitt, U., 2014, June. Overcoming the seven barriers to innovating personal knowledge management systems. InInternational Forum on Knowledge Asset Dynamics (IFKAD)(pp. 11-13). Schmitt, U., 2014, March. How this paper has been created by leveraging a personal knowledge management system. In8th International Conference on Higher Education (ICHE)(pp. 16-18). Sein-Echaluce, M.L., Blanco, .F., Garca-Pealvo, F.J. and Conde, M.., 2015, August. A knowledge management system to classify social educational resources within a subject using teamwork techniques. InInternational Conference on Learning and Collaboration Technologies(pp. 510-519). Springer, Cham. Sein-Echaluce, M.L., Fidalgo-Blanco, . and Garca-Pealvo, F.J., 2017, July. Adaptive and cooperative model of knowledge management in MOOCs. InInternational Conference on Learning and Collaboration Technologies(pp. 273-284). Springer, Cham. Wang, S., Noe, R.A. and Wang, Z.M., 2014. Motivating knowledge sharing in knowledge management systems: A quasifield experiment.Journal of Management,40(4), pp.978-1009.