The objective of this report is to critically analyse the prevailing work of Nonaka & Polyani by comparing and contrasting their key strengths & weaknesses with the support of appropriate theories/frameworks of Knowledge Management. In addition, I will be addressing how knowledge management is implemented into the retail industry and the innovation development behind it.
Introduction of knowledge management
Knowledge management consists of leveraging intellectual assets to enhance organizational performance (Stankosky 2008). KM develops systems, processes to increase the generation of actionable and meaningful information, and seeks to enhance individual/team learning. This corresponds with Stewart, 2001 who mentions about how knowledge …show more content…
Internalization: The explicit sources is used and learned, the knowledge is internalized by changing the user 's existing tacit knowledge.
This stage can be understood as ‘praxis’, where knowledge is applied and used in practical situations and becomes the basis for new routines’. (Explicit to Tacit Knowledge)
(Popadiuk, Silvio 2006) Learning by doing practical activities such as being till trained to serve customers, widening your knowledge about the products at hand or completing and induction programme.
This is shared within the organization and into employees’ tacit knowledge in the form of technical expertise becoming a valuable asset. Sharing new thoughts or ideas can facilitate and benchmark daily challenges and results that can expressed with everyone.
Conclusion
Challenges
Overall, the key challenge faced with this assignment is locating and investigating the necessary information for the literature review within the last decade due to the fact Nonaka and Polyani most famous work occurred from the 1950s to 1990s. For that reason, I had to filter out to identity what information has connections to the strengths and
Introduction of knowledge management
Knowledge management consists of leveraging intellectual assets to enhance organizational performance (Stankosky 2008). KM develops systems, processes to increase the generation of actionable and meaningful information, and seeks to enhance individual/team learning. This corresponds with Stewart, 2001 who mentions about how knowledge …show more content…
Internalization: The explicit sources is used and learned, the knowledge is internalized by changing the user 's existing tacit knowledge.
This stage can be understood as ‘praxis’, where knowledge is applied and used in practical situations and becomes the basis for new routines’. (Explicit to Tacit Knowledge)
(Popadiuk, Silvio 2006) Learning by doing practical activities such as being till trained to serve customers, widening your knowledge about the products at hand or completing and induction programme.
This is shared within the organization and into employees’ tacit knowledge in the form of technical expertise becoming a valuable asset. Sharing new thoughts or ideas can facilitate and benchmark daily challenges and results that can expressed with everyone.
Conclusion
Challenges
Overall, the key challenge faced with this assignment is locating and investigating the necessary information for the literature review within the last decade due to the fact Nonaka and Polyani most famous work occurred from the 1950s to 1990s. For that reason, I had to filter out to identity what information has connections to the strengths and