Problem statement the purpose of this research was to identify the business development strategies used by construction companies in the texas for market diversification. Request pdf knowledge management strategies for business development as economies continue to evolve, knowledge is being recognized as a business. Theoretically the paper draws upon theories on how strategy is developed and practiced as in integrated part of everyday management practices. This is not a new idea organisations have been managing human resources for years.
This reference book supplies business practitioners, academicians, and researchers with comprehensive tools to systematically guide through a process that focuses on data gathering. Assessment of business development strategies in the. In that generous spirit, it delivers essential tools for success. There has been a significant growth in knowledge management km literature reflecting its strategic importance to modern organizations in the knowledge. Whendecidingyourstrategyinthe21 st centuryitisessential. Sustainable economic development strategies generate substantial economic and employment growth and sustainable business and community development by demonstrating that innovation, efficiency, and conservation in the use and reuse of all natural and human resources is the best. Knowledge management strategy to improve business sector.
Deruiter consultancy having wide and versatile consulting experience in the development of international business strategies knows how to organise the planning process for your specific company. Entrepreneurship and small business development as a rural. These initiatives and complementary services will, in the main. It is a subset of the fields of business, commerce, and organizational theory. In the competitive business world, knowledge management km has become. Pdf every organization needs the proper knowledge management km strategy for the development of the organization. It is underpinned by an organizational capabilities approach which emphasizes innovation, learning and competence as the basis for improving business performance leavy, 1996.
The paper presents a qualitative study of strategy and business development practices in small and medium sizes enterprises sme in the danish construction industry. Small business development strategies 4 getting started even though organizations can pursue a wide range of strategies in supporting small business development, our research has found that they need to address a similar set of issues in getting started. Put succinctly, business model refers to the logic of the firm, the way it operates and how it creates value for its stakeholders. Business models, business strategy and innovation david j. According to king 1999 the core of knowledge management. He has authored several books and written articles in the fields of strategic information systems planning, the man.
Assessment of business development strategies in the nigerian. By focusing on identifying staff needs and issues, activities and initiatives can be recommended with the confidence that these will have a clear and measurable. Aligning knowledge management with business strategy. It is an essential work tool for ownertransferors, successors, consultants and financial advisors the purposes of this tool are to help you to. In a mediumsized company the whole process will take approximately 4 6 months. Dalbergs knowledge management and business development strategic support lead is a fulltime role within dalbergs global shared services gss team based in mumbai, new delhi, nairobi, dakar. Strategy refers to the choice of business model through which the firm will compete in the marketplace. Business development premier changes the way you play and win the game. The roles of knowledge management for the development of. Knowledge management strategies for business development is a fascinating topic for business leaders and clevel executives. That means law firms must sharpen their business development efforts if they hope to improve profitability over the next 12 to 24 months. Knowledge management and business development strategic. Request pdf knowledge management strategies for business development as economies continue to evolve, knowledge is being recognized as a business asset and considered a crucial component of. Knowledge management strategies for business developmentaddresses the relevance of knowledge management strategies for the advancement of organizations worldwide.
Developing a corporate knowledge management strategy. One of the early knowledge management strategies that knoco was involved with was the km strategy for mars inc, developed in 2004. This paper explores the development and adoption of a knowledge. The enterprise and business development strategy aims to enhance the current government approach to enterprise and business development in the nonfinancial services sector. Is your business geared up for growth 4 key actions youmightfindreadingthisbloguseful. Knowledge management is based on the idea that an organisations most valuable resource is the knowledge of its people. An important part of this is making the business case. Knowledge management strategies in driving business results. Wecoveroffthefirstthreeofthesealongwithbusinessdevelopmentstrategieswithinourblog.
Risk management benchmarking a significant element of the business community also views knowledge management as a natural extension of business process reengineering, a fact underscored by the recent announcement that. Therefore, business rationales of organisational efficiency and financial profit strongly characterise the underlying motivation for much of the km literature and recommendations. What the strategy has to do is to develop these into an actionable plan. The study established that the widely used strategies by the professionals for business development in nigeria included market penetration and organizationinternal development. Knowledge management has generated a lot of interest within the last years alavi and leidner, 2001. Knowledge management as an important tool in organisational management.
Business development premier is a crm solution coupled with enterprise relationship management technology, enhanced. Knowledge management strategies in the context of the development sector. As it pertains to many lowincome communities, business development seems to be complicated by the very circumstances that it is aimed to eradicate. Teece whenever a business enterprise is established, it either explicitly or implicitly employs a particular business model that describes the design or architecture of the value creation, delivery, and capture mechanisms it employs. To create value, companies must focus on how knowledge is used to build. Developing a knowledge management strategy provides a unique opportunity to gain a greater understanding of the way the organisation operates, and the challenges that confront it. Business development bd comprises a number of tasks and processes generally aiming at developing and implementing growth opportunities between multiple organizations. Knowledge management strategies for business development. It includes a portfolio of new initiatives and a new business centre that will provide customer facing support. Praise for designing a successful km strategy this book is dedicated to knowledge managers everywhere. Information from the audit should provide a good indication of leverage points for km.
Yanko ivanov is highlyskilled management consultant focusing on business analysis, system design, and integration. For most, the concept remains abstract and theoretical. Knowledge management and organisational learning, an. General management, the marketing management, the sales management, the communication management and the product management. Knowledge management strategies for business development meir russ, editor. Knowledge development knowledge retention knowledge transfer knowledge utilization these activity sets cannot fully support a business strategy until each is aligned in the context of a knowledge lifecycle. Understanding the business development opportunity in. Knowledge embodies the skills, experience, contextual information and expert insights that provide a framework for evaluating and incorporating new information. Canada knowledge management km is the process of enabling knowledge flow to enhance shared. Tactics refers to the residual choices open to a firm by virtue of the business model that it employs. Developing a corporate knowledge management strategy paul oluikpe abstract purpose the purpose of this paper is to explore the development of a knowledge management km strategy at the central bank of nigeria cbn and how this was embedded in the business processes of the bank. Determine whether to create a new program or form an alliance with an existing one.
In the strategic management literature, the knowledgebased view of the. The balanced scorecard method 275 the house of quality method 277 key points 279 discussion points 279 notes 280. Whether youre developing a km strategy or want best practices from organizations with longstanding km programs, apqc gives. These are likely to be two or three of the levers described in the essence of knowledge management. Practices to promote success among lowincome entrepreneurs. A cloudbased business development solution designed specifically for law firms, it is built on the bestofbreed microsoft dynamics platform. Possible knowledgemanagement strategies would therefore include automation that embeds knowledge in systems, or perhaps routinization, in which knowledge is built into. As it pertains to many lowincome communities, business development seems to be complicated by the very circumstances that it. Knowledge management as an important tool in organisational. Monitoring and evaluating knowledge management strategies. School of business, dalian university of technology, panjing 124221. For example, the challenges in the transaction model are centered on the need to codify knowledge and ensure consistent performance.
It thus reflects managements hypothesis about what customers want, how they want it, and how the enterprise can organize to best meet those needs, get paid for doing so, and make a profit. This strategy covered items such as the business drivers, the vision, the current status, and the critical knowledge areas for mars. Here are seven ways in which your firm can increase its chances for major. Yanko is passionate about developing practical knowledge and information management strategies that help organizations achieve their vision. Knowledge management as an organizational innovation has been with us for more than a decade.
As a discipline, it has reached a state of maturity where. Knowledge management as a business strategy operates on multiple frontiers. This book addresses the relevance of knowledge management strategies for the advancement of organizations worldwideprovided by publisher. In general terms, all these objectives have to be precise quantifiable as much as possible, realistic and coherent. The book starts with discussions about knowledge and what it means for business practitioners, moving into discussions about how to manage and audit knowledge, followed by the challenges of organizations to deal with.
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