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KM Assignment
KM Assignment
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Contents
Introduction...................................................................................................................3
Literature Review..........................................................................................................4
Knowledge Management concepts and theories......................................................4
World Bank (WB) Strategy........................................................................................6
Discussion....................................................................................................................7
Conclusion....................................................................................................................8
References.................................................................................................................10
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Introduction
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to this, knowledge is considered as an important and valued asset (Hegazy &
Ghorab, 2014). Different researchers have defined it in different ways. It pertains to
the capability of an organization to manage knowledge, converting it into new idea
and strategy and ultimately protecting it. It is also defined as ability and process to
capture, store, share and use it (Chang & Lin, 2015). In the last couple of years,
knowledge management has been one of the significant factors to promote
knowledge economy. Multiple studies have shown that knowledge management not
only ensures organizational success but it also serves as a beneficial for society at
large. So researchers have identified four phases of knowledge management
knowledge creation, storage, transfer and application.
Literature Review
Knowledge Management concepts and theories
Historically, knowledge management has the association of Greek Society. But the
concepts of Knowledge Management were pioneered in 1970s (Alavi and Leidner,
2001). During the last couple of years, a lot of contribution has been made in the
field of Knowledge Management. Wiig (1997) describes the evolution of this concept
as “logical next step in a sequence of societal developments”. Knowledge
Management is an environmental concept and there are four perspectives to explain
it. In these perspectives, management practice, IT (information technology),
organizational efforts, and development adoption are involved (Wiig, 1997). Notable
management theorists such as Peter Drucker, Christopher Bartlett, Dorothy Leonard-
Barton etc. have contributed in the development of Knowledge Management. Some
of them have written regarding importance of Knowledge Management whereas
some have contributed by discussing the it in context of organizational resource. In
the year 1990, Knowledge Management started evolving as a scientific discipline
(Davenport, 2008). In this era, information technology also impacted this field where
organizational issues were addressed with the association of information technology.
Further in the context of total quality management and e-business practices,
managerial practices were implemented using Knowledge Management concepts
and theories. So evolution of different theories and concepts in this field have served
as a wider applicability of Knowledge Management. Researchers have also tried to
define KM since its evolution. Gold et al, defined it as capacity for managing and
organizing internal as well as external knowledge within an organization. Lytras et
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al., (2002) explains it as a systematic approach for implementing knowledge in order
to maximize the value of knowledge as an asset.
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poverty, more open to face challenges and more responsive. As the main emphasis
of the WB is to help poorest countries and for this they also sanction loans to help
them coming out of poverty and world economy remain sustainable. In order to fight
poverty effectively, sharing knowledge and implementing knowledge management
practices on a systematic basis is an essential factor. Due to this, WB has become
the strategic partner for sharing knowledge at global as well as local level with their
client countries. In terms of Ecological KM theory, World Bank is involved in sharing
knowledge within learning communities more specifically client countries for
combating poverty related issues. Researchers have explained, as discussed earlier,
that an effective KM practices requires complete comprehension of KM theories and
concepts. For this WB has DECKM (development economics knowledge
management) Unit, that involves in managing knowledge which bank generates
through its operations. It serves as a research and data arm of the WB. Under the
strong leadership, this unit sets research agenda and advices on formulation and
revision of policies. The knowledge which comes out as a result of research activity
of the WB play a significant role in solving issues of different communities especially
poverty. WB realize the importance of knowledge communities it is to increase the
knowledge base. In increasing knowledge base, knowledge sharing practices are
required to develop; knowledge sharing within the organization and across different
countries and communities. Therefore, WB has the knowledge sharing practices
within the organization which manifest the application of organizational KM theory
and further across different countries. The current operating model of WB stimulates
the knowledge flow all around the globe and provides integrated solutions to its
clients. Since 1997, WBs model has been considered as a matrix system. The
demands of client countries are evolving but previous model was not efficient
enough to meet the client’s demands. So in 2012, reforms were introduced to meet
the demands. Initially issues were identified related to previous model and proposal
for internal reforms were given and then implementation was made. This new model
of WB has emphasized the knowledge flow for solving emerging issues of the world
(worldbank.org, 2019)
Discussion
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Significance of knowledge management is evident as discussed in literature. KM
practices enable organization to achieve its goals in systematic way. It is also
considered as the source of intellectual capital (Becerra-Fernandez and Sabherwal,
2014). In any organization, intellectual capital serves as the value of knowledge
resources. Many research studies have revealed that knowledge is source of
attaining sustainable competitive advantage (Cambra-Fierro, Florin, Perez and
Whitelock, 2011). Even KM offers the organization to formulate new management
system which can increase organizational performance (Wu and Chen, 2014). So
introducing KM is beneficial by all means. In context of World Bank, KM is in practice
since 90’s. with the passage of time, client countries problems have been increased
due to this certain reforms and changings have been introduced. As a result of these
reforms, new internal processes are introduced with more responsibilities delegated
to WB employees and teams. In these structural changes, one of the most important
thing is to pool and accumulate knowledge in order to fulfill the client’s needs. This
thing reflects the priority that WB gives to knowledge management practices. In all
their new activities, now knowledge has become the central point to share for
achieving goals. All staff at WB has the positive attitude towards knowledge sharing
and flow which can augment the performance within and outside the organization.
For instance, a survey in 2016 showed that as a result of structural changes, more
than 70 percent of employees at World Bank share knowledge with colleagues.
Knowledge management activities are organized in different way at different levels at
WB. At strategic level, knowledge gaps are addressed and organized for
disseminating for supporting different operations. All of the WB efforts in knowledge
management are to address and solve issues such as poverty, health concerns,
disseminating loans to different under-developed and developing countries etc.
Analysis says that still there is a gap between addressing issues through knowledge
management practices. But to a larger extent, WB has attained its goals via
knowledge management and several countries have got its impact.
Conclusion
The main objective of this paper is to see knowledge management concepts and
theoretical bases in context of World Bank. Further It was also discussed that how
knowledge management programs and initiatives worked in World Bank and with the
help of these, how global level issues, for instance poverty, are solved by utilizing
knowledge management practices. As we know that knowledge management is the
significant area which acts as an organizational competitive advantage. Multiple
global corporations are now utilizing their resources for effective management of
knowledge and is essential for ensuring sustainability in competency. Knowledge is
also considered as strategic valuable resource that develops sustainable competitive
advantage for an organization. In this report, it has been discussed how knowledge
management programs initiated at World Bank has helps to address issues which
are persistent at global level, especially in underdeveloped countries. Our findings
indicated that programs and structural changes at World Bank are playing significant
role in combating global issues. Effort has been witnessed in their policy formulation,
therefore, World Bank want to resolve issues of their client countries. Findings
further revealed that within the management of World bank, staff is inclined towards
knowledge sharing with each other that exhibits the impact of knowledge
management on staff behavior. In modern organizational context, knowledge
management concepts, theories and practices have really inspired organizations for
incorporating knowledge management. World Bank is of them that has brought
structural changes to combat issues. Yet a lot of work need to be done because
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despite of having KM policies and practices, issues are still present in different
countries. For instance, poverty, health, education etc. are major issues of the world.
So large corporations of the world such as World bank need to work with more rigor
so that impact of knowledge management strategies may lessen more issues in
years to come.
References
Alavi, M. and Leidner, D.E., 2001. Knowledge management and knowledge
management systems: Conceptual foundations and research issues. MIS
quarterly, pp.107-136.
Cambra-Fierro, J., Florin, J., Perez, L. and Whitelock, J., 2011. Inter-firm market
orientation as antecedent of knowledge transfer, innovation and value
creation in networks. Management Decision, 49(3), pp.444-467.
Cambra-Fierro, J., Florin, J., Perez, L. and Whitelock, J., 2011. Inter-firm market
orientation as antecedent of knowledge transfer, innovation and value
creation in networks. Management Decision, 49(3), pp.444-467.
Chang, C.L.H. and Lin, T.C., 2015. The role of organizational culture in the
knowledge management process. Journal of Knowledge management, 19(3),
pp.433-455.
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Chou, C.H., Wang, Y.S. and Tang, T.I., 2015. Exploring the determinants of
knowledge adoption in virtual communities: A social influence
perspective. International Journal of Information Management, 35(3), pp.364-
376.
Kakabadse, N.K., Kakabadse, A. and Kouzmin, A., 2003. Reviewing the knowledge
management literature: towards a taxonomy. Journal of knowledge
management, 7(4), pp.75-91.
Tubigi, M. and Alshawi, S., 2015. The impact of knowledge management processes
on organisational performance: The case of the airline industry. Journal of
enterprise information management, 28(2), pp.167-185.
Von Krogh, G., Nonaka, I. and Aben, M., 2001. Making the most of your company's
knowledge: a strategic framework. Long range planning, 34(4), pp.421-439.
Wiig, K.M. (1997). Knowledge management: where did it come from and where will it
go? Expert systems with applications, 13(1), pp.1-14.
Wu, I.L. and Chen, J.L., 2014. Knowledge management driven firm performance: the
roles of business process capabilities and organizational learning. Journal of
Knowledge Management, 18(6), pp.1141-1164.
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