1. Explain about approaches.

strategic

management

process

and

strategic

The strategic management process means defining the organizations strategy. It is also defined as the process by which managers make a choice of a set of strategies for the organization that will enable it to achieve better performance. Strategic management is a continuous process that appraises the business and industries in which the organization is involved; appraises its competitors; and fixes goals to meet all the present and future competitors and then reassesses each strategy. SM as a process consists of different phases, which are sequential in nature. These four broad phases could be encapsulated as follows: 1. Strategic Intent 2. Environmental Scanning & Formulation of Strategies 3. Implementation of Strategies 4. Performing Strategic Evaluation and Control.

The strategic approach therefore, is an ongoing process. It is continuous and recognizes the need to be open to changing goals on the basis of shifting circumstances within the environment. It is a process that requires monitoring and review mechanisms capable of feeding information to managers continuously. Strategic management or planning are not one-shot approaches, they are ongoing. Types of strategic approaches: Push-codification strategy Pull-personalization strategy

2. Explain the disruptive power of technology with reference to change in economic environment.

PARADIGM SHIFT Its ability to break the rules that limit how we conduct our work Needs as well as aspirations are shaped peoples understanding of what is possible Critical to companies looking for competitive advantage

3. What you will study while designing a KM project.

The things we will study while designing a km project : 1. What groups are currently undergoing changes in operating routines? What is the organizational goal of this routine and what is the corresponding knowledge component? 2. What is the process for adoption of this new routine?

3. Who is responsible for the implementation or transfer? 4. Who are the target population of the new knowledge? How will they benefit from this knowledge? 5. Is there a similar operating routine currently being utilized? How was this routine implemented? 6. What systems will be in place to monitor and control the project?

4. How KM culture and leadership is important for KM projects implementation?

KM leadership and culture: 1. Is KM an important strategy to the company 2. Is there a clear linkage between knowledge and corporate assets and market potential? 3. Are employees hired and compensated based upon their abilities to contribute to corporate knowledge? 4. Does the company identify core competencies and encourage development of them and creation of new ones? 5. Does the company facilitate knowledge sharing? 6. Do employees take responsibility for their own learning?

7. Do the companys learning processes encourage flexibility and innovation? 8. Is learning linked to customer value?

5. What is difference between data management and information management?

Data / information management Processing large volumes of facts with little human interaction Puts data into organized frameworks the storage, organisation and availability/access internal/external information vital to the organisation. Knowledge Management Requires human interaction material must be organized to facilitate human access to it. KM provides links between organized frameworks. The core issue of KM is Knowledge sharing to

6. What are the drivers of Knowledge management? Drivers of Knowledge management:

 Making available increased knowledge content in the development and provision of products and services Achieving shorter new product development cycles Facilitating and managing innovation and organizational learning Leveraging the expertise of people across the organization Increasing network connectivity between internal and external individuals Managing business environments and allowing employees to obtain relevant insights and ideas appropriate to their work Solving intractable or wicked problems Managing intellectual capital and intellectual assets in the workforce (such as the expertise and know-how possessed by key individuals)

Drivers of Knowledge management: Demand Drivers There has been a dramatic structural shift from a manufacturing-based economy to that of a service-based economy. Organisations have realised people are the primary asset in a service organisation and have begun to recognise that retaining their employees' knowledge will be increasingly important as firms grapple with how best to institutionalise the knowledge of their employees given the current levels of employee turnover.

Increased globalisation of business - Workforces can be geographically dispersed across the globe, making communication and knowledge sharing increasingly difficult. Organisations have realised the need for tools and technologies which can facilitate the sharing of information between geographically disparate employees.

Other problem that companies are likely to face will be as large number of key employees reach retirement age. Thus finding tools and techniques that will aid in retaining and institutionalising the knowledge maintained by these transitioning and retiring workers has become increasingly important for firms that wish to maintain their continued competitiveness.

Knowledge Management has the potential to improve firms' competitiveness by : (a) fostering innovation by encouraging the free flow of ideas amongst employees; (b) improving customer service by streamlining response time; (c) boosting revenues by getting products and services to market faster; (d) improving and lowering the costs of employee training; and (e) streamling operations by eliminating redundant process ...

Therefore, those firms that properly view the retention and management of intellectual capital as a core competancy will have a significant strategic advantage through their ability to retain, harness and draw upon their 'corporate memory".

Supply Drivers Recent technological advances have facilitated the development and adoption of specialised knowledge management tools and technologies. The new technologies have allowed unprecedented ability to access, store, search, organise, share information and communicate with colleagues across a global organisation.

7. Explain the disruptive power of technology with respect to business process.

Q. What is knowledge management? Define KM process. Set of method for getting the right information to the right people at the right time. KM process: Generating: identifying and capturing.If people do not want to share ,they will not do it.Incentives? Organizing: Retrieval, navigation, indexing,taxonomy Developing: Selection and further refinement. How to chunk information Distribution: How people gain access

Q How Knowledge is different form Information? Knowing is an human act Knowledge is the residue of thinking Knowledge is created in the present moment Knowledge belongs to communities New knowledge is created at the boundaries of the old