Knowledge Management and Decision Making
The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $60,000.The variable ,
October 7, 2020One of the useful aspects of a “machine is that it usually has a way to turn it on or off, and some more or less relatively easy controls to
October 7, 2020Knowledge Management and Decision Making
Knowledge Management and Decision Making
Order Description
Knowledge Management and Decision Making Individual Coursework ANSWER ALL QUESTIONS
You are required to choose a company from the automotive industry. Assuming that the name of the chosen company is called “STO701 Limited” and you have been employed as a Knowledge Management Officer (KMO) for this company. The General Manager has invited you to write a business report on how knowledge management could enhance the performance of this organisation. The report should specifically address the following areas:
a) Explain how the concept of knowledge management (KM) relates to data and information.
b) Discuss the relationship between KM and business decision making processes.
c) Discuss typical architecture of knowledge-based systems (KBS).
d) Through quantitative and/or qualitative data collection techniques, look critically into the business operations of STO701 Limited and identify where (and how) improvements could be made to the business performance. Use the collected data to address the following:
• Identify any problems with existing business operations of STO701 Limited with respect to knowledge management and decision processes.
• Analyse your results using relevant data analysis techniques and present them with the support of visual aids such as graphs, figures, tables, etc.
• Discuss the types of knowledge that will be required by managers (at different levels/hierarchies) of STO701 Limited for effective decision making.
• Discuss different knowledge management strategies and instruments that could be adopted in the company for effective decision making.
• From your findings, develop a conceptual knowledge management framework that STO701 Limited could implement to improve the company’s organisational performance and decision making process.
• Provide recommendations on how the management of STO701 Limited could improve the performance of the business through effective knowledge management and application of a decision framework to support strategy and decision making. Indicative Data Sources
1. You could use data previously gathered to produce your semester one coursework and/or fresh data from any other sources. You may also want to consider using data from relevant companies’ data sources such as those contained in the tabs labelled “Company & Financial Data” and “Market Research & Industry Data
Relevant Reading Materials: Research papers ï‚· Akerkar, R., & Sajja, P. (2010). Knowledge-based systems. Jones & Bartlett Publishers. ï‚· Alkuraiji A, Liu S, Festus Oderanti & Megicks P , ‘New structured knowledge network for strategic decision making in IT innovative and implementable projects’, Journal of Business Research, 2015, URL: http://dx.doi.org/10.1080/12460125.2014.886499 ï‚· Alkuraiji A, Liu S, Oderanti FO, Annansingh F & Pan J 2014 ‘Knowledge network modelling to support decision-making for strategic intervention in IT projectoriented change management’ Journal of Decision Systems 23, (3) , DOI ï‚· Anderson, D.R., Sweeney, D.J., Williams, T.A. & Martin, K. (2011) An Introduction to Management Science: Quantitative Approaches to Decision Making, (13th Edition) South-Western Cengage Learning. ISBN-13: 978-0-538- 47565-5, ISBN-10: 0-538-47565-x. ï‚· Many other relevant journal articles on knowledge management and decision making are available in the Web of Knowledge, Science Direct, IEEE Explore, etc.
