Department of Management Sciences, National University of Modern

Languages

Assignment
Submitted by:
Shahraz Mushadi
Roll NO: 31466
Subject: KM
Submitted to: Mam Rabia
Class: MBA (3.5)4th Evening
Date: 10-04-2020
Content
 Industrial economy
 Knowledge economy
 Three ways technology has changed the way people perform
their work, task and role.
 Explicit Knowledge
 Tacit Knowledge
 Organizational Knowledge
What is industrial economy and knowledge economy?
Economy
An economy is a system of making and trading things of value. It is usually divided
into goods (physical things) and services (things done by people). It assumes there
is medium of exchange, which in the modern world is a system of finance. This
makes trade possible.

Industrial economy
The industrial economy concerns those activities combining factors of production
(facilities, supplies, work, knowledge) to produce material goods intended for the
market.
A distinction is generally made between manufacturing industry and extraction
industries, but the precise perimeter of industry in each statistical operation is
given by the list of the items taken into account in the economic classification to
which the operation refers. (NAF, NES, etc.)
Knowledge economy
The knowledge economy is the use of knowledge to create goods and services. In
particular, it refers to a high portion of skilled workers in the economy of a
locality, country, or the world, and the idea that most jobs require specialized
skills.
The following are examples of the knowledge economy.
 Design
 Information Technology
 Business Processes
 Marketing
 Customer Experience
 Research & Development
 Media
 Education
 Comparison between Industrial economy and Knowledge economy

Describe three ways technology has changed the way people perform
their work task and roles. How has this influence the ways
organizations operate?
Organizations have responded to external challenges by modifying their
management practices and core business processes. This has strongly affected
individual employees, who are experiencing increasingly rapid changes in their
work context and content. The nature of many people’s work has shifted from
stable and predictable long-term careers in a particular from on industry to a
series of career paths in different organizations.
The modern workplace characterized by highly complex interactions across the
whole organization to encourage high-quality performance from all employees.
An understanding of the organizational context and expectations helps employees
to frame their work roles and contributions, and enables constant adaptation and
response to new demands and trends at work.
A review of some of the key changes to workplaces illustrates the significant
workplace developments which have occurred over the past decade or two.
1. Workplace composition
2. Evolving work roles and responsibilities
3. Teamwork
4. Relationship building
5. Communication
6. Decision making
7. Worker motivation
8. Infrastructure
9. Speed and Efficiency

1. Infrastructure
It is the range of systems and services which support the core business of the
enterprise. Technological advances have enabled better integration of
organization systems, such as human resource services, information
technology, library and archive management, financial management,
marketing and, increasingly, data capturing and sharing. Although these
systems were once quite distinct and disjointed, they are rapidly merging into
unified and integrated corporate systems. This enables better management
and use of the various forms of information across the organization. A
 particular benefit for many employees is the reduction in duplicated effort, as
data need to be entered only once. Computerized records can include a range
of different fields of information adapted for different purposes.
The use of electronic data and integrated systems decreases clerical and
recording errors, and increases the complexity and depth of information
available to many staff in the firm.
2. Evolving work roles and responsibilities
Technological advances, organizational changes to systems and processes, and
the gradual move towards different forms of organizational structures have
resulted in a constantly shifting work context for most people. There is little
likelihood of retaining the same set of roles and responsibilities for a long period
of time—even if the individual’s job title remains constant.
Administrative assistants are a good example of work role changes. These people
would once have been regarded as secretaries, possessing commercial
qualifications, typing handwritten or recorded notes, storing mail, making coffee,
filing and performing other related clerical tasks.
Work roles integrates new competencies as the context evolves. A key challenge
for many people is the amount of information which must now be absorbed and
managed in the work setting. This can be a major source of stress for many people
if they feel they are not maintaining sufficient edge in their areas of professional
expertise. It may also concern organizations, since it cannot be automatically
assumed that people are maintaining their skills at the appropriate level.
3. Communication
Technology has significantly influenced workplace communication. Electronic
communication, such as email, is integral to the activities of most individuals.
People use a range of strategies to communicate effectively in their teams, across
organizational divisions, and with clients, suppliers and others external to the
organization. Communication is recognized as an important factor in maintain
successful organizations.
Essential communication competencies are following;
 Active skill
 Feedback skill
 Negotiation skills
  Presentation skills
These communication competencies reflect the increasing expectations that
employees will interact extensively with a range of people and in a number of
official capacities. An increasingly popular form of communication relies on
electronic mediums.
Virtual communication operates through a range of technological channels,
including email, teleconferencing, video conferencing and other forms of
electronic interaction. Careful management of virtual communication is
important, as the absence of interpersonal interaction can lead to some social and
functional challenges.
Give an example of information, explicit knowledge, tacit knowledge
and organizational knowledge for a particular type of work.
Knowledge is the process of translating information (such as data) and past
experience into a meaningful set of relationship which are understood and applied
by an individual.
Knowledge management is the process of identifying, capturing, and
disseminating the intellectual assets that are critical to the organization’s long-
term performance.
Technological advances have greatly helped the growth of knowledge
management, although the field has not yet reached full maturity. The capacity to
link the many systems and processes in an electronic system has opened up many
different possibilities for business. Many companies have embraced electronic
processes to conduct their basic work activities, hence the coining of terms such as
e-workplace, e-commerce, and e-community.
Explicit Knowledge
Explicit Knowledge is knowledge that can be shared with others—it can be
documented, categorized, transmitted to others as information, and illustrated to
others through demonstrations, explanations and other forms of knowledge.
Explicit knowledge is a key organizational resource which is increasingly important
as the nature of work evolves towards a knowledge focus. Many work roles are
now based on processing, producing or disseminating knowledge within or
beyond the workplace.
Workers who spend most of their time generating, applying or conveying
knowledge are called knowledge workers.
Examples of Explicit Knowledge
 Written descriptions of best practices for business process.
 Written knowledge about products, markets or customers.
 Lessons learned on projects or product development.
 Written records of experiences with new approaches.
 Examples of successful and failed projects (e.g., contracts, proposals, bids,
etc.)
Tacit Knowledge
Tacit knowledge is the kind of knowledge that is difficult to transfer to another
person by means of writing it down or verbalizing it.
Tacit knowledge is hard to document, categorize and share, organizations depend
on it to ensure good-quality choices and judgments. In a work setting, many
experience, learning and ongoing investigation of sources. The difficulty of
translating to identify this knowledge into a tangible product or process raises two
issues for organizations: how to identify who holds such knowledge, and how to
enable others to access it when they need it. This is a key concern of knowledge
management.
Examples of Tacit knowledge
 Playing an instrument
 Speaking a language
 Innovation skills
 Leadership social skills
 Sales
 Humor
 Delivering software vale etc.
Comparison between Explicit and Tacit Knowledge
Organizational knowledge
Organizational knowledge draws on different organizational-knowledge
sources, including data housed in organizational records and systems,
explicit knowledge which is documented and accessible, and tacit
knowledge held by employees, customers, shareholders and other
organizational stakeholders. Some major corporate knowledge systems
include information databases, the company website, the library and
archives.

The creation of effective organizational knowledge relies on many things.

The sources of knowledge that can be accessed need to be known, available
and useful.
An organization relies on the knowledge held by individuals. Expert
knowledge sources are key strategic forces which should be recognized by
others and accessible to them. Increasingly, organizations are recognizing
the importance of capitalizing on and cultivating those who can guide and
enhance the strategic priorities of the organization.
Strategic knowledge—expertise and understanding that support the
strategic direction of the organization—is increasingly valued as an
organizational asset. People often possess knowledge which may be of
great interest, but of little value to the organization.
For example:
Individual—a person's notebook, loose documents and files, customer
queries and complaints, or an individual's memory. These are good sources
of tacit knowledge.