Knowledge Management Chapter 1 Quiz: Importance of KM Review

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Questions and Answers

Which of the following is a key focus of the Bukowitz & Williams knowledge management framework?

Generating, maintaining, and deploying knowledge (correct)

Building, holding, pooling, and using knowledge

Identifying the sources of information used in organizations

Products, services, and customers

What does the text suggest is a key characteristic of knowledge management?

Knowledge is a static resource that can be easily controlled

Knowledge management should focus solely on individual productivity

Knowledge management should prioritize the use of computers and technology over human interactions

Knowledge is actively constructed in a social setting through negotiation and evaluation (correct)

What is the 'productivity paradox' referred to in the text?

A decline in organizational productivity despite increased investment in knowledge management initiatives

A decline in customer satisfaction despite increased investment in customer service and support

A decline in organizational profitability despite increased investment in new products and services

A decline in individual worker productivity despite increased investment in computers and technology (correct)

What is a key aspect of the Wiig knowledge management framework?

Focusing on the three conditions for business success: business and customers, resources, and ability to act Signup and view all the answers

What is the relationship between information literacy and knowledge management according to the text?

Information literacy is a key component of successful knowledge management, involving the ability to recognize, locate, evaluate, and use information effectively Signup and view all the answers

What is the purpose of the surveys and studies mentioned in the text?

To identify the sources of information used in organizations Signup and view all the answers

Which of the following is a key aspect of the Wiig knowledge management framework?

Identifying the major functions and activities that knowledge workers engage in to make products and provide services Signup and view all the answers

What is the relationship between communities of practice and knowledge management according to the text?

Communities of practice are a key mechanism for generating, maintaining, and deploying knowledge within organizations Signup and view all the answers

What is the main focus of the Bukowitz & Williams knowledge management framework according to the text?

Generating, maintaining, and deploying knowledge Signup and view all the answers

What is the key focus of the Wiig knowledge management framework?

Products, services, and customers Signup and view all the answers

Study Notes

Importance of Knowledge Management

Organizations are becoming increasingly global, with multiple sites, languages, and cultures, making knowledge management crucial.
Leaner organizations require efficient knowledge management to stay competitive.
"Corporate Amnesia" occurs when knowledge is lost due to employee turnover, retirements, or departures.

Introduction to Knowledge Management

Knowledge is the fact or condition of knowing something through experience or association.
Information is a set of data that has been processed, analyzed, and structured to become useful.
Systematic knowledge management involves capturing, structuring, managing, and disseminating knowledge to work faster, reuse best practices, and reduce costly rework.

Objectives of Knowledge Management

Facilitate a smooth transition of knowledge and expertise.
Minimize loss of corporate memory.
Identify critical resources and areas where the corporation excels.

Business Perspective

Knowledge management is a business activity that involves two primary aspects: the knowledge component of business activities and making a direct connection between an organization's intellectual assets.
Explicit knowledge is recorded and can be easily disseminated, while tacit knowledge is personal and harder to articulate.

Knowledge Science Perspective

Knowledge is the fundamental resource that enables personal, organizational, and societal intelligent behavior.
It involves the creation, capture, organization, access, and use of an organization's intellectual assets.

Technology Perspective

Information is turned into actionable knowledge and made available effortlessly in a usable form to the people who can apply it.
A knowledge management system (KMS) is a virtual repository for relevant information.

Types of Knowledge

Tacit knowledge is difficult to articulate and represents personal know-how.
Explicit knowledge is captured in a tangible form and can be disseminated.

History of Knowledge Management

The concept of knowledge management dates back to the 1960s, with Drucker coining the term "knowledge worker."
Senge (1990) focused on the "learning organization" as a key aspect of knowledge management.

Generations of Knowledge Management

The first generation focused on physical assets.
The second generation focused on intellectual capital.
The third generation focuses on taxonomy and content management.

Organizational Perspectives

The first generation focused on information technology.
The second generation focused on HR and corporate culture.
The third generation focuses on taxonomy and content management.

Knowledge Management Cycle

Get: seeking out information to make decisions, solve problems, or innovate.
Use: combining information in new and interesting ways.
Learn: learning from experiences and organizations.
Contribute: sharing knowledge and experiences.
Assess: evaluating the effectiveness of knowledge management.
Build & Sustain: ensuring growth and maintenance.
Divest: discarding assets that no longer create value.

Four Major Approaches to the Knowledge Management Cycle

Zack & Meyer's approach focuses on knowledge creation and transfer.
Bukowitz & Williams' approach focuses on generating, maintaining, and deploying knowledge.
Mcelroy's approach focuses on knowledge production and integration.
Wiig's approach focuses on products, services, and customers.

Knowledge management involves viewing knowledge as something that is actively constructed in a social setting.
Knowledge evolves through social negotiation and evaluation.
Learning should begin in the relationships between individuals.

Communities of Practice

A community of practice is a group of people who share knowledge and expertise.
Example: Xerox's Eureka Project.

Information Literacy

It is the ability to recognize when information is needed and have the ability to locate, evaluate, and use it effectively.

Productivity Paradox

It refers to a surprising decline in productivity despite massive investment in computers.

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Description

This quiz covers key concepts from Chapter 1 of Knowledge Management, focusing on the importance of Knowledge Management. Topics include globalization of business, leaner organizations, corporate amnesia, and technological advances. Gain a better understanding of the significance of knowledge in organizations.

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