Measuring madness Review

Knowledge can be explained as having awareness or a mutual understanding of a given subject matter, which is understanding is usually either by a formal process or an informal process got through apprenticeship or by experience. Wheatley and Rogers(1999) highlight that there has been a global hunger for a number that has led for the standardization and regulations and in its own part there has been an increase in the level of dependence which has called for help in ascertaining performance in management. In the current world economy, where the capital can be able to transfer easily and in a first way, technology tends to be obsolete and new ones are introduced to be able to replace the old and existing ones.

It is important for first thinking organizations to give undivided attention to the management of knowledge that is needed to provide a competitive edge in a changing global business. (Baqir, 2004) Literature The advent of the internet and the World Wide Web began in the late 20th century as an avenue to be used by the countries multi-disciplinary forces to gain knowledge and information. These shows that despite the emphasis on the knowledge gained through the knowledge age, a majority of the companies still have a lot in terms of being able to catch up and efficient knowledge management. Knowledge management/environment A quote by Peter Drucker explains that our understanding and ability to gain and use knowledge has been made it possible for the human beings to have a competitive edge over other animals of the animal kingdom (Ben-Hur et al, 2011).

Knowledge management can be defined as the process that is involved in the production, dispensation, utilization and conducting the knowledge in an origination. In a majority of the companies, information and knowledge is obtained in several places and shared through sticky notes folders and notepads. Creation of a knowledge center us therefore critical and vital for employees to be able to gain easy and an immediate access to information that is critical to be able to meet any challenges and queries on the culture, products and incidents of the organization. Alan further explains that knowledge management revolves around the basic understanding of where and how the knowledge exists, the kind of knowledge that is required by an organization and how to be able to foster a good culture of sharing information and knowledge within an organization.

Training within the organization should also focus on knowledge recreation, possession, invention or the basic removal of knowledge related procedure in knowledge depository. There exist various reasons as to why organizations would require knowledge management or be in a better position to improve the existing process of knowledge management. In some organizations, when some senior professionals ar5e about to exit the scene, they are at times required to document their knowledge that they have gained in their experience within the organization in templates and other materials. In some cases, it is a requirement for the manager to hire new members that can improve the knowledge or innovation in an existing organization. (David, L. 2014) The form of learning in COP is that it might not be planned or intended but one that occurs through a process of interaction with people.

COP is an informal process where members within a particular group meet to be able to share knowledge, information, process, tools and methods in which challenges in the process of work can be dealt with in future and the recurrences can be evaded. The membership of a particular community is based upon shared responsibilities, passion and competency for a particular topic or subject which might not be able to be recognized by other members that are without the organization or a community (Wenger-Trayner and Trayner, 2015). The major characteristic of community of practice is the shared ideas that they have based upon their comparable experiences and their dedication to shared views within on a particular subject matter. This connection created made it possible for the members to create an understanding and a community of practice.

The benefits accrued from a community of practice includes the promotion of trust among members which creates a sense of shared purpose, enhancing the professionalism in the lives of the members of the members. The members also have the opportunity to share new and better information that would not have been available and within reach to the members. Such helps the organization to retain employees and reduce the time that is used for learning for new employees. The challenges of performance measurement Majority of nowadays organizations tend to face numerous challenges that must be able to be surpassed I other for a certain business to have an advantage over the competitors. M. , et al 2015). In most cases, the defiance by the organization to the performance measurement mostly arises from the lack of understanding by the management on the new system.

Thus, it is important for the business managers to ensure that staff in an organization have clear and concise understanding of the new ratings. That is, how it is measured and its effects on the progress of the organization. Human capital is what the staff takes once upon they live the organization and move to start new ventures or employment elsewhere. Experiences that is gained through working in an organization includes the ability of an individual to work together as a team, ability to be creative and innovative and other reactive tendencies. Relation capacity involves the resources of the organization that is connected with the external relationship and ability to create a better relationship with investors, the customers the suppliers and the creditors within a given business organization.

Structural capital and capacity are what remains in the organization despite the labor and staff leaving the organization. This capital includes the culture that is retained within the organization and it includes the culture, systems and the databases (Ticha, I. apqc. org/what-knowledge-management (Accessed: 14, April 2018) Baqir, N. M. , (2004) Strategic Knowledge Management for Futuristic Organizations. Available at: https://protege. org/research/publications/upload/4-Corporate-Learning-discovery-event-w-no-05-11-12-2. pdf (Accessed: 14, April 2018) Boudreau, J.  Strategic knowledge measurement and management. [Online] (CAHRS Working Paper #02-17). Ithaca, NY: Cornell University, School of Industrial and Labor Relations. edu/~i385q/spring2005/readings/Brown_Duguid_1998_Organizing%20Knowledge. pdf (Accessed: 12 Nov 2017) BusinessDictionary. com. (2017) Intellectual capital. Available at: http://www. (2006) Community of Practice [Online] Available at http://web. stanford. edu/~eckert/PDF/eckert2006.