Revision Deck! Flashcards
What are the THREE roles of knowledge in the economy?
- Offers sustainable advantage as product and services are more difficult to maintain
- Organisation’s gain the greatest value when they and their employees have intagible intelligence on top of their products and services
- Allows organisations’ to do things well and quickly - maintaining their success
Can you describe what Knowledge Management is?
Knowledge Management is about using a set of processes associated with understanding knowledge and using it as a business and organisational asset.
Information technology acts as the enabler, for organisation’s to manage knowledge physically.
Using that IT to manage that knowledge will allow or aid in an organisation meeting certain business objectives, under the constraints of the environments in which the organisation operates within and interacts with.
What are the FIVE key drivers of Knowledge Management?
- Increasing domain complexity
- Accelerating market volatility
- Intensified speed of responsiveness
- Diminishing individual experience
- Knowledge loss through staff turnover and downsizing
What is Data?
Data are values of qualitative and quantitative variables belonging to a set of items. They are often discrete facts or events, they are completely objective and have no interpretation, and ultimately essential for deriving and driving information and knowledge.
What is Information?
Information in its most restricted technical sense is a sequence of symbols that can be interpreted as a message.
When data is interpreted and the meaning is determined it turns into information.
What are the FIVE activities that can be conducted to transform Data into Information?
- Categorisation
- Calculation
- Correction
- Condensation
- Contextualisation
What is the hierarchical and boundary view of Knowledge?
The hierarchical and boundary view of knowledge is presented in a pyramid, with Data at the base, Information in the middle and Knowledge at the tip. (https://gyazo.com/dd6a3697969ca4eefc2a7f71aee6e351 )
It is the idea that knowledge exists as an entity but for some reason is more valuable than information and data, as well as that the three entities are not intechangeable or messy but easy to define and separate, with clear boundaries.
What is the continuous stream of information and data view of Knowledge?
The continuous stream of information and data view of knowledge is represented by a continuous stream of data and information entering an organisation, with knowledge being a supplement to the two elements, adding increased value for the business.
In particular, the knowledge is manifested in actions taken by the organisation when utilising that data and information.
https://gyazo.com/3d71d4c653f08ac9f945dbe053be86a6
Where are the FIVE places that knowledge is formed?
- Experience - deep knowledge of a subject developed over time
- Ground Truth - tested experiences
- Complexity - ability to deal with complex situations
- Judgement - ability to refine itself in response to new situations and information
- Intuition - exercising heuristics (self-learning)
What are the points in regards to Rumsfeld organisational knowledge?
- There are things we know, we know
- There are things we know, we don’t know
- There are things we don’t know, we know
- There are things we don’t know, we don’t know
What is Tacit knowledge?
Tacit knowledge is knowledge which is difficult to transfer to another by means of writing or verbalising it. It is based on intuition and know-how.
Tacit knowledge is rooted in context, experience, practice and values and is often transferred through socialisation and mentoring etc.
Example: knowing when to pull out into traffic
What is Explicit knowledge?
Explicit knowledge is knowledge which can really be articulated, codified, accessed and verbalised, making it easy to transmit.
This is a codified knowledge which can be found in documents, databases etc.
Example: the highway code and turn by turn directions
What is learning?
An entity learns if through its processing of information, a range of potential behaviour changed. All entities learn differently.
What are the two types of learning?
- Single-Loop Learning
2. Double-Loop Learning
What is Single-Loop Learning?
Single-Loop learning is a form of operational level learning, it focuses on reviewing expected and desired outcomes of actions with the actual results. And, in the event that the expected results and actual results do not match, based on feedback, then the organisation reviews the actions they are taking, in an attempt to change or tweak them to achieve those desired results.
Single-Loop learning is often efficiency driven, around explicit knowledge and technology.
This form of learning addresses the symptoms of the actions, then root causes.
It asks the question - are we doing things right?
Example: Thermostat - too hot (turn off), too cold (turn on)
https://gyazo.com/051a7b6d9416f242a225be3a544702f1
What is Double-Loop Learning?
Double-Loop learning is a form of tactical level learning, it questions and focuses on our assumptions when we are not achieving the results we expect, based on continuous feedback, and can foster organisational learning, in terms of through questioning assumptions large-scale organisational changes can take place.
We question organisational norms, practices and policies, as well as ways of working, specifically we ask - what is going on here? what are the patterns? Are we doing the right things?
Example: Changing project management methodology from Waterfall to Agile.
https://gyazo.com/1a0c661f433e06b807aded2a88948e15
What is the Knowledge Management life cycle?
The Knowledge Management life cycle is an activity-oriented view of Knowledge Management which provides activities and tasks within a continuous cycle to complete in order to manage knowledge effectively - provides a form of structure.
It is important to understand it is not a finite set of steps.
The four phases of the Knowledge Management cycle are:
- Generating Knowledge
- Codifying Knowledge
- Transferring Knowledge
- Leveraging Knowledge
https://gyazo.com/24e1d56357ba7b66691679c795e3655b
What are the FOUR challenges faced in Knowledge Management?
- Information overload
- Lack of time for sharing knowledge
- Inability to use knowledge efficiently
- Human failure - insufficient communication and lack of training
What is Knowledge Generation?
Generating Knowledge in the Knowledge Management Lifecycle involves an organisation taking the necessary actions and steps to create, produce and gain knowledge within their organisation for future use in productive ways.
Knowledge is continuously and naturally generated as employees, and the organisation’s themselves absorb information in their environment and then acting on it.
The act of precisely intending to generate knowledge is the least systemic phase in the Knowledge Management lifecycle.
What are the SIX ways in which an organisation can generate knowledge?
- Acquisitions
- Rentals
- Research and Development
- Fusion
- Networking
- Adaptation
Can you describe the Knowledge Generation method of Acquisition?
Acquisition in regards to Knowledge Generation is the act of an organisation buying or purchasing another organisation for the knowledge that they possess - the knowledge may not have to be innovative and newly created but must be new to the organisation which is initiating the purchase.
Example 1: Facebook buying Instagram
Example 2: Amazon buying Wholefoods
What are the THREE difficulties which can occur when an organisation attempts to purchase knowledge via Acquisition?
- Measuring the value of the purchased knowledge
- Recognising where the knowledge resides - people could walk out the door
- Adaptability to a new environment - new knowledge may not adapt and be useful in a new environment
Can you describe the Knowledge Generation method of Rental?
Rental in regards to Knowledge Generation is the act of an organisation paying a fee to use and act on knowledge to achieve a form of success.
Example 1: Hiring a specialist consultant
Example 2: Partnerships - corporate incubators for startups
When organisations are renting this knowledge they need to absorb and retain as much of it as they possibly can, so they can continue to use that knowledge once they lose the rental source.
Can you describe the Knowledge Generation method of Research and Development?
Research and Development in regards to Knowledge Generation is the act of an organisation setting up internal units whose sole purpose is to specifically generate knowledge.
Example 1: General Electric’s international research hubs
Example 2: Microsoft’s large research centres in Cambridge and Seattle
Important that results are still provided and value of research and development is measurable. Also, need to be careful about competitors gaining access to your ideas, duplicating it and making a possible advantage you had null.
Example: Apple stealing XEROX GUI