Strategic Knowledge Management

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Assessment B – Section 2

Knowledge Management

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Table of Contents[pic 3]

Introduction        1

Knowledge Management/Environment        2

Intellectual/Social Capital        3

Human Capital        3

Customer (Relational) Capital        4

Structural Capital        4

Balanced Scorecard        6

Communities of Practice        9

Soft Systems Thinking        10

Office of Research Development and Knowledge Transfer (ORDKT)        11

Conclusion        12

Bibliography        13

Introduction

In todays’ unpredictable dynamic business environment; strategic management is vital for the success of every organisation, as it offers the benefit of achieving and sustaining a competitive advantage Teece et al., (1997). Hence, an organisations ability to strategically manage its knowledge in this environment is critical. Dalkir (2005) suggests that characteristics such as the creation and dissemination of knowledge are vital elements in competitiveness. Such an unpredictable environment requires that organisations learn about new technologies and practices; engage in constant environmental monitoring, regular performance assessment and continual improvement of performance; and promote research and experimentation in order to survive. Dixon (2007) suggests that continuous learning is the only way to adjust to a changing world. Consequently, knowledge management (KM) and organisational learning (OL) plays a major part in the overall performance of an organisation King, (2009) as it harmonizes an organisations strategy, structures, and procedures that impact its existence geared toward achievement of vision, aims and intentions. The aim of this paper is, deliberate the University of the West Indies (UWI) tactics to strategic management of knowledge and organisational learning while evaluating its use of Knowledge Management/Environment; Intellectual Capital and Social Capital; Balanced Scorecard; Communities of Practice; and Soft Systems Thinking.

Knowledge Management/Environment

For organisations to attain and sustain competitiveness in this fast changing knowledge environment, management of the above mentioned framework and tools are vital. Knowledge is the pivotal point of the frameworks and tools mentioned; Sveiby (1997, p. 38) defines knowledge as “a capacity to act.” These frameworks and tools are vital to UWI’s development and competitiveness in this dynamic fast changing business environment of community growth and transformation.

Furthermore, the connection amid knowledge management (KM) and Organisational Learning (OL) can be interpreted differently. OL focuses on the processes as indicated in the study of Dierkes et al., (2003) which Britton (2005, p. 8) defines “the intentional use of collective and individual learning processes to continuously transform organisational behaviour in a direction that is increasingly satisfying to its stakeholders.” Furthermore, KM focuses on the content of knowledge which organisations use to acquire, generate, practices and ultimately utilises as indicated in the study of Dalkir (2005) and defined by King (2009 p.4) 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.”

KM and OL are not new concepts to UWI. The organisation has developed the university-wide facility of Office of Research discussed later, in effort to bridge the gap of organisational learning and to stay well-informed in this dynamic fast changing business environment.

Intellectual/Social Capital

The definition of knowledge management by William King indicates KM is the value organisations produce as a result of its intellectual and knowledge-based assets. The UWI in its approach to strategic management of knowledge and OL have employed the use of its intellectual capital (IC). According to Woods and Cortada, (2013, p. 300), “intellectual capital encompasses much more than patents, copyrights and other forms of intellectual property. It is the sum and synergy of a company’s knowledge, experience, relationships, processes, discoveries, innovations, market presence and community influence.” In other words, IC which is classified by Stewart (1998) as human capital (HC), structural capital (SC) and Customer Capital (CC) are intangible assets that drive the success of an organisation. Furthermore, Stewart (1998) expresses IC as the interconnection of people’s abilities and competencies, networking, programs and systems, beliefs and norms and legal protection. IC is essential in the UWI hidden values.

Human Capital

HC is a combination of skills, capabilities and competencies of individuals. Akpinar and Akdemir (1999) describe HC as the combination of actions, competence, practices, awareness and approaches of employee’s. HC, for UWI, focuses on employees’ professional ideas, competencies, knowledge and experience. The UWI clearly values its HC in its requirements for hiring new recruits and selection of new students. For hiring new recruits, they must present sound educational background, previous work experience, and practical examples of creativity and innovation and for new students; they must have a secondary education, attained Caribbean Examination Council Certificates (CXC’s), and other necessary required documents. According to Choo and Bontis (2002 p. 629) “HC is tacit knowledge embedded in the minds of employees.” In the case of the UWI; tacit knowledge is grounded in their staff and stakeholders minds. UWI in effort of managing this form of knowledge strategically utilises its human resources personnel termed Human Resources Department to recruit and develop of competent staff as a means of attaining and sustaining competitiveness in its program arrangement. The responsibility of the department includes organizing employee training and workshops to strategically promote OL and increase its knowledge base in an advancing technological environment. For instance; improving cashiers proficiency and knowledge in handling Barbados currency notes, a training session was organised for cashiers showing them how to use updated technologies such as UV lights to identify significant features. Learning these techniques helped cashiers on a daily basis to spot counterfeit cash to reduce the organisation intake of it.