Reasons and Benefits for Incorporating Knowledge Management (KM) as a Change Strategy

The indispensability for organizational change is to direct the organization in a path where it can learn and use its capabilities to meet the expectations of its customers and other stakeholders (Moran and Brightman, 2001). It is implied that how effectively the organization is able to learn and exert knowledge in different states ensures the effectiveness of the organization (Laudon and Laudon, 2000). A number of forces are responsible for organizations to adopt Knowledge Management as a change strategy. Continue reading

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The Implications of Various Environmental Forces on Strategic Planning & Decision Making

Managers need to be aware of –

various environmental issues of business that affect the strategic planning and decision making in this highly uncertain business world and must be able to understand all the controllable and uncontrollable parameters while planning and decision making (Bhushan and Rai, 2004). Technological Advancement, Institutional Governance, Ethics, Globalization, Knowledge Management System, Culture and Diversity, Changes in Leadership and Management Style and the like have profound impact on strategic planning and decision making. In order to effective and efficient and to think, plan and make decision strategically, management need to have a clear understanding of these forces, the implications of these forces on business and on them and on employees, the way to handle and deal with the situations and then plan and make decision accordingly. Continue reading

The Importance of Strategic Planning & Decision Making in Achieving Organizational Objectives

Planning, in general term, is –

the most important function of management, which dictates the current state or position of an organization and where the management wants it to see in a future state whereas decision making is action oriented that involves a strong commitment to the actions necessary to make the plans successful (Weihrich and Koontz, 2005). Smith (1996) specifies that decision making involves making the best selection among the available choices that enables managers going for an effective decision making through setting organization’s goals and objectives, carrying on the tasks needed to accomplish the objectives by ensuring the commitment of the organizations’ people towards the organizations’ goals. A well number of scholars have put forward planning and decision making in the same construct. Continue reading

The Significance of Training and Development in Performance Management

In order to smooth the progress of the job and to get performance precisely and effectively from the employees, there is no alternative for the organizations but to train them well (Buckley and Caple, 2007). According to Coulson-Thomas (1997), the rapidly changing nature of business environment requires organizations’ to make changes or fetch improvements in their acting, operating and learning styles and insists them to embrace Continue reading

Understanding Knowledge Management

Davenport and Prusak (1998: 1) indicate that Knowledge is neither information nor data, though it is related to both, and the differences between these terms are often a matter of degree.According to Melkas and Harmaakorpi (2008), data is unprocessed elements of information, which are based on fact whereas Lillrank (1997, 2003 cited in Melkas and Harmaakorpi, 2008) states that data becomes information as soon as it is processed and deliver meaningfully. Nonaka et al. (2000) mention that when well structured and placed in a meaningful context, information transforms into knowledge. Continue reading