Annotated Bibliography Example | Topics and Well Written Essays - 1000 words - 6

Annotated Bibliography Example The authors argue that since human interactions are inimitable and cannot be reproduced in a different organizational context without losing their innate characteristics, organizations can retain knowledge within the organization and continue to use it as a strategic asset to create competitive advantage. This article challenges the assumption of a universal set of knowledge management practices by arguing for a contingency-based approach to knowledge management. The article describes the organizational context for knowledge management along the dimensions of process and content orientation on the one hand and focused and broad domains on the other. Based on the possible combinations, four different approaches are identified, i.e. internalization, externalization, combination and socialization. Based on where the particular organizational division is situated in the contingency grid, managers should adopt the associated approach to promote knowledge creation and management among employees. Empirical research validates much of the contingency model with the exception of the externalization approach as it did not contribute to the expected positive impact. This report explains how managers may benefit from implementing knowledge management practices in the organization. The report highlights several advantages of knowledge management including the promotion of creativity, faster decision making and competitive responses in the market. The report encourages managers to adopt knowledge management practices by discussing examples of real organizations where knowledge management has been implemented and has yielded beneficial results. Knowledge management can be practiced by creating appropriate structures and systems to create and disseminate knowledge. The report also states that managers should constantly evaluate the effectiveness of their knowledge management systems by establishing specific criteria to measure the