Page 228 - DMGT505_MANAGEMENT_INFORMATION_SYSTEM

Unit 11: Managing Knowledge in the Digital Firm

Notes

Notes Enterprise knowledge management considers every probable use of such
knowledge—internal use, from human resources to sales; and outwardly, from clients to
probable business partners. No source or use of information is unaccounted for inside the
system.

Self Assessment

Fill in the blanks:
12. .................................... intangible asset includes relationships, brand names, reputation, and
image.
13. .................................... knowledge management takes into account every knowledge source
and merges it with traditional corporate knowledge.
14. To create .................................... objects, standard definitions of them must be created and
adhered to.

15. The role of knowledge management has usually been seen as the transformation of
individual assets into .................................... assets.

11.5 Summary

 Knowledge management is a critical component of an organizations success. Knowledge
assets are the knowledge that an organization owns or needs to own, to achieve its goals.
 Knowledge is information, extracted, filtered or formatted in some way.

 With the impact of globalization, the Internet, and the rapid evolution of technology,
managing knowledge for competitive advantage has become more important than ever.
 Tacit knowledge is implicit, whereas Explicit knowledge is rule-based knowledge that is
used to match actions to situations by invoking appropriate rules.
 Knowledge work systems are there to help to deal with problems requiring technical
expertise or knowledge.

 Effective knowledge management needs a unified, managed technique that traverses the
enterprise and exceeds departmental restrictions.
 The role of knowledge management has typically been seen as the conversion of individual
assets – those connected with the employees – into internal assets – those preserved by the
organization.

 Enterprise knowledge management can be defined as a consistent and incorporated vision
of the sources and uses of knowledge across an association.

11.6 Keywords

Business Partners: Business partners are essential to any business, whether it is suppliers, payment
processing companies, customer support companies or delivery companies that help your business
throughout its cycle.

Knowledge base: This is the domain knowledge that is used to guide the search or evaluate the
interestingness of resulting patterns.

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