outcome and feedback loops to redirects to strategic and operational issues. In successfully Team based organization the complete focus is not only on teams but also highlights the essential role of the managers. Form a strategic vision: Rapidly growing technology and global competition are making the organizations implement new ways to gain competitive advantage. In this new technological era one company masters a new technology and the other company makes the technology advanced. So there is need to catch the flexible changes in the market to meet the customers’ expectations which is essential in drafting organizational strategy.
As Desouza (2011) put it, KM has become a trendy buzzword. Much of the interest in KM came from the realization that organisations compete on their knowledge-based assets. Even noncompetitive organisations (e.g. governmental institutions and nonprofits organisations) succeed or fail based on their ability to leverage their knowledge-based assets. It is stated by Teng and Song (2011) that the importance of KM is no longer restricted to knowledge intensive firms in the high-tech industries but to all sectors of the economy.
This function is necessary to keep the organization on course. (Hill & McShane, 2009, p. 6) Leading:Leading includes motivating, influencing, and directing others in the organization to work productively in pursuit of organizational goals. Here managers are required to establish a grand strategic vision for the organization and become a tireless advocate for that vision. (Hill & McShane, 2009, p. 6) Since we are discussing KM as a form of management, we have to understand that KMis an inseparable part of these management functions. W. R. King(2009, p. 6) specifically defines KM as "the planning, organizing, motivating, and controlling of people, processes and systems in the organization to ensure that its knowledge-related assets are improved and effectively employed."
Target Corporation needs to buy more local and diverse product from an environmentally friendly company and create a standard that adds value to the local communities and environment. In addition, Target Corporation should source products from diverse international community, minority organization, and women run organizations. Target Corporation must diversify its retail products to add more goods that are sporting, a bakery, and household's items as well educational services using partner organizations. Target Corporation needs to identify new third-party strategic alliances through which it delivers goods at the doorsteps, selecting with a non-perishable item and eventually perishable items depending on the locations. Target Corporation
1. Identify one of the key Knowledge Management (KM) business problems facing TPMT from the case study. For the problem that you have identified justify why the problem should be addressed to improve business performance. "Knowledge management is a discipline that promotes an integrated approach to identifying, capturing, evaluating, retrieving, and sharing all of an enterprise 's information assets. These assets may include databases, documents, policies, training, procedures, and previously un-captured expertise and experience in individual workers."
In the organisation, the communication, information and knowledge are very important. The whole work gets done in the organisation be these things. So a manager has to manage these in an effective manner so that they can get the effective results. Every organisation have to get successes in the market. Without having a good communication, proper information and effective knowledge company can not get the successes in the market.
Similarly PM is found to be an effective tool for achieving the strategic objectives of organizations (Kerzner, 2003), managing organizational change (Bryde, 2003b; Maylor, 2001) and systematic planning, execution and control of activities in a systematic manner (Meredith and Mantel, 2003). The literature indicates that a two-way linkage exists between PM and TQM (Broetzmann et al., 1995; Choi and Eboch, 1998). PM is recognized as an effective methodology for implementing TQM practices in organizations. Similarly, TQM plays a role in providing an environment which facilitates organizations to make use of PM (Bryde, 1997, 2003a, 2003b). These findings provide a basis for measuring PM practices using known TQM models.
organisations train and develop their employees to the fullest advantage in order to enhance their abilities and attain set objectives (Devi & Shaik, 2012). The importance of training as a central role of management has long been recognised by leading writers (Irene, 2013). Training both physically, socially, intellectually and mentally are very essential in facilitating not only the level of productivity but also the development of personnel in any organisation (Olusanya, Awotungase, Ohadebere & Suleiman, 2012). To manage a business both large and small requires staffing them with competent personnel. The formal educational system does not really teach specific job skills for a position in a particular organisation.
Knowledge management (KM) IN ORGANIZATIONS Is defined as the process of capturing, distributing, and effectively using organizational knowledge. It emerged as a concept in 1990. Organizations adopt KM so that objectives set by the organization can be achieved using best use of knowledge .Most of the organizations implements KM inorder to improve performance,achieve goals,share ideas,maintain relation with customers and also to increase innovation.Knowledge Management basically consists of plans,methods and approaches which helps in creation of knowledge.Knowledge Management thus creates a strong relation between the objectives and strategies of the firm as it consists of making efficient use of knowledge which thereby creates value for the
Davenport and Prusak (1997) defined knowledge enterprise from the primary activities involved. They identified activities such as acquisition, creation, packaging or application of knowledge. The objective of Knowledge Management (KM) is to improve the quality of the contributions people make to their organizations by helping people to make sense of the context within which the organization exists, to take responsibility, to cooperate and share what they know and learn, and to effectively challenge, negotiate and learn from others. Organizations have the potential to learn and that new knowledge may be effectively incorporated into specific practices, so that the knowledge is accessible when needed. Schools, like most organizations, should learn and gain knowledge so as to improve decision making and innovation especially in the age of increased external and internal pressures for change and improvement.