MGT403 - Read chapter 1 to chapter 3 thoroughly from the slides

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Business Finance

Saudi Electronic University

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  • Introduction: (7.5 Marks)
    • Discuss the concept of knowledge management. Why is knowledge management important today? (200 Words) (2.5 Mark)
    • Write a detailed paragraph on three generations on knowledge management. (300 Words) (3 Marks)
    • Describe the terms, Data, Information and Knowledge. Discuss two major types of knowledge. Compare the properties of these two major types of knowledge. (200) (2 Mark)
  • Knowledge management cycles and Models: (7.5 Marks)

  • Discuss in detail Wiig’s KM cycle. How is it different from McElroy’s KM cycle. Write minimum two points of difference. (Minimum 500 words) (2.5 Mark)
  • Describe how the major types of knowledge (i.e., tacit and explicit) are transformed in the Nonaka and Takeuchi knowledge spiral model of KM. Use a concrete example to make your point (e.g., a bright idea that occurs to an individual in the organization). (2 Mark)
  • a. Which transformations would prove to be the most difficult? Why? (0.5 Mark)
  • b. Which transformation would prove to be fairly easy? Why? (0.5 Mark)

References:(2 Marks). 0 Mark for No references, Less than 5 References (1 Mark) More than 5 references 2 Marks.

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Explanation & Answer

Please view explanation and answer below.

1

Knowledge Management in Theory and Practice

Student’s Name
Institutional Affiliation
Professor
Course
Date

2
Knowledge Management
Concept of Knowledge Management
The concept of knowledge management is to share knowledge and experience of aspects
among different people or organizations. It is based on the process that defines, retains, and
shares knowledge and experience with others. In other words, the idea of knowledge
management is to facilitate the connection of different people or organizations searching for
information with other knowledgeable people or entities. It involves data mining and operational
approaches of pushing information to users and making it easy for them to access. The goal is to
provide organizations and societies with surveillance of their goals and examine the appropriate
traditional and technical tools to help address current issues.
Importance
Knowledge management is essential because it allows the growth of innovation within an
organization or society. It will enable organizations or societies to efficiently access best
practices and approaches to dealing with issues facing them currently. It facilitates a faster
decision-making process through numerous options for tackling new problems arising within an
organization or society (Dalkir, 2011). It also promotes collaboration and idea generation by
creating a trend of skills and experience in handling different aspects or issues as they arise.
Knowledge management also enhances communications throughout an entity or community,
leading to high production or a more civilized world that can support the complex contemporary
environment.

3
Knowledge Management Generations
First-Generation
The first-generation KM involves the focus on a combination primarily. It is the
generation that relied on the approach of codification premising on explicit knowledge or
informal conversation to explicit knowledge. In other words, it was based on leveraging explicit
knowledge by capturing documented information and then using it to build a collection of
knowledge and skills that can effectively connect people to content or aspects (Pokryshkina,
Kananen & Viskari, 2018). It is a generation that de...


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