Knowledge Management Research
Overview of the Concept 2 1. Cost and Planning 2 1. Conclusion 3 2. Introduction 3 2. Overview of the Organization, Core Functions and Focus 3 2. KM Open Source tools 12 5. Conclusion 15 6. Works Cited 15 1. Proposal 1. Introduction In this project, the researcher is presenting a discussion about the application of knowledge management in a company of choice, hereby selected as Modern Medical Services. By the end of this project, the researcher is hopeful to convince a few more companies to acquire these operational techniques. Introduction 2. Overview of the Organization, Core Functions and Focus Knowledge management is a multidisciplinary technique that can be utilized by an organization’s managers in order to improve productivity (Dalkir 3). In large multinational corporations, the strategy has been implemented in departments like Information Technology, Business Development and Human Resource Management thus facilitating a favourable competitive advantage and faster growth (Dalkir 11).
In this report, a discussion is presented about the concept of knowledge management in relation to an organization called Modern Medical Services. In this report, the researcher was focused at discussing the operational aspects of Modern Medical Services that have progressively improved its performance beyond existing medical firms. Most importantly, the aim of the researcher was to identify the application of the strategy of knowledge management in this company. From initial hypothesis, it had been noticed that the massive success of Modern Medical Services is attributed to induction of such effective business techniques. Therefore, it was of interest to perform a reality study in order to confirm the hypothesis and provide solutions to the research questions. Intellectual Capital of the Organization Modern Medical Services has a vast accumulation of intellectual capital which integrates the unmatched skills of its experienced employees, unique business patent and trademarks, and reputable customer relations (Maditinos et al 132).
Recent developments have also resulted in the innovation of unique scanning machines for detecting slightest fractures and tissue growths even at their early stages. In research, the company has been earmarked for conducting intensified laboratory tests for the production of both preventive and curative drugs against mutative diseases. The company runs its own website through which interested parties can access public information and make queries regarding the operation of the firm All these remain to be legal copyrights and trade secrets of Modern Medical Services thus making this firm to be an outstanding performer in the region. Additionally, the company’s observation is cognisant of organizational capital through which its operations are leveraged to achieve maximum utility (Aramburu et al 307). Lastly, under the structural capital, there exists process capital which forms the guidelines for procedures of implementation of sustainable programs towards satisfaction of customers’ wants.
Through this technique, it has managed to streamline its operations by implementing intellectual capital responsible for the performance of its workforce, protection of patent and improvement of stakeholder relationships. Intellectual Capital Management Strategies Intellectual capital management strategies are composed of all the approaches that can be utilised by a firm to achieve its operational objectives. While outlining this master plan, it is important for a business organisation to highlight the most relevant types of capital which are essential to its long-term growth (Hsu et al 489). For instance, in this case, Modern Medical Services has been identified as a company which majors in the production of technologically advanced healthcare equipment and drugs. Therefore, it would be appropriate for the knowledge management applied to include a policy which supports technological development because it is the unique competitive strategy of the firm.
Therefore, employees may decide to opt out of one company to another whenever they feel overexploited, with fewer benefits in return. As a result, they proposed that an organization’s executives should have a vast understanding of knowledge management in order to avoid any controversy from ensuing between the human capital and the contracting company. Consequently, they proposed that organizations should implement the knowledge capture incentive in which all their submissions are updated into the company’s website for regular competitive rewards (Bratianu, Jianu & Vasilache 13). This would constantly provide incentives to the most hardworking employees, thus transferring their innovation rights to the firm. Curado, Henriques & Bontis 1080) involved in a similar research to identify the relevant techniques for managing intellectual capital. It is important that companies should be restrictive with the use of their copyrights and trademarks in order to gain the benefits that accrue from them.
It is also advisable to incorporate more inclusive terms like the workforce in order to adjust to the excess value that would have otherwise been considered as goodwill. By majoring on the concept of the exploitation and exploration, a company also reduces the risks of losing the ownership rights in the incidence of off-shore purchases. Another strategy that can be implemented is the measurement of intellectual capital as a way of monitoring the existing company’s capital as well as identifying other potential opportunities that can increase a firm’s output. In the daily operations of Modern Medical Services, the company can utilise available measurement methods like the balanced scorecard framework. Here, a firm’s operations are critically discussed in terms of the strengths which are making it to maintain operations, weaknesses which need to be adjusted upon, opportunities that can be exploited and threats which can result to subsequent termination of operations (Helms & Nixon 215).
From the reports which have been analysed about Modern Medical Services, it can be observed that the company’s strengths are established in its skilled and experienced workforce. Due to the rigorous employee hiring process, the company ends up with competent intellectuals who can generate unique ideas than in any other rival firm. Additionally, the company has ventured into a lucrative market where it utilizes advanced technology to create new healthcare equipment and facilities. Therefore, Modern Medical Services can achieve more excellence in its operations by capitalizing on its unique strengths. Another threat is the possibility off-shore contracting of employees. In doing so, the company might lose its patents and copyrights of the leaving employees thus denying it of the production power.
Finally, there is threat of competition from other companies offering modern healthcare services. Some of which are funded by the government while others are subsidiary firms of established pharmaceutical corporations and leading IT companies. As a result, their overhead expenditures are greatly reduced, making them to gain higher incentives as compared to Modern Medical Services. Just like the OpenKM, the eXO has a calendar app and dialogue boxes for chatting, as well as a personalized task bar for managing workflows. This software can be actually recommended as the best tool because it secures users’ data and provides portal partitions. Additionally, it operates an intranet which facilitates exchange of information and tasks among employees. Another important software is the Slack which is perfect for its ability to share large chunks of information at an exceptionally higher rate.
It bears similarity with eXO in that it is a platform for social collaboration. Lastly, there exists software called myBase which is widely applicable when creating a research database. The key components of this software are that it has modified features like the hierarchical tagging which improves task management. However, myBase has been linked to numerous instances of inadequate support for universal access. Additionally, the software occasionally crushes when subjected to large sets of data. Its experimented file size is a maximum of 300mb beyond which it slows down. The basic forms which were highlighted include; human capital which is concerned with competence and welfare of employees, structural capital which protects an organization’s copyrights and relational capital which protects a firm’s relationship with external stakeholders.
Most importantly, the report covered open source tools for use in an organization and it was recommended that Modern Health Services should implement Google drive or Slack due to their suitability and effectiveness of use as compared to other software. Works Cited Aramburu, Nekane, and Josune Sáenz. Structural capital, innovation capability, and size effect: An empirical study. Journal of Management & Organization 17. Knowledge management in theory and practice. Routledge, 2013. Helms, Marilyn M. and Judy Nixon. Exploring SWOT analysis–where are we now? A review of academic research from the last decade. Reisenwitz, Cathy. Online] “5 Free Knowledge Management Software Solutions. ” [Obtained from] https://blog. capterra. com/5-free-knowledge-management-software-solutions/ (2017).
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