Ashford Wk 6 Why Knowledge Mgt Is Important to Success of Company Response
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Describe a knowledge management system.
Knowledge management system is known as a system that that creates the knowledge and information that managers need to know to run a company. It stated in the article that “ Three key reasons why actively managing knowledge is important to a company’s success are: 1.) Facilitates decision-making capabilities, 2.) Builds learning organizations by making learning routine, and, 3.) Stimulates cultural change and innovation” (Forbes, 2012) the three key things to considered for management knowledge is to make sure decision making is in the company. The managers are making learning routines not only for them but their employees too and to stimulate the cultural change and innovation that may come in the company.
Evaluate how knowledge management enhances organizational learning
Knowledge management enhances organizational learning because it allows the managers to be more part of the company and make decisions that are necessary to make the company run successfully. Knowledge management enhances the organization because managers are able to make valid decisions based on what they already know and what they are learning to make the company better.
Analyze how a knowledge management system can be utilized to meet the needs of internal stakeholders
The knowledge management system can be utilized to meet the needs of internal stakeholders because the managers can develop a plan that is based on what the stakeholders think is ideal for the company to be successful. The knowledge management system can provide the managers with this guidance to do so. Managers making decisions that the stakeholders have suggested allows the stakeholders to feel like they are part of the decision making for the company.
References
Forbes (2012). Why Knowledge Management is Important to the success of your company.