Answer To: BIS201 Knowledge Management and Information Governance Assessment 2 – Case Study Overview Knowledge...
Aditi answered on Sep 22 2022
BIS201
Case Study
Executive Summary
To ensure the proper growth and development of certain internal processes, this study discusses the establishment of a knowledge management and technology governance system for the company. We'll use Nexus4.0, a startup, to illustrate why new technologies are needed and why knowledge management is important. The paper also delves into why IT and data governance are important, how to choose the best information governance framework, as well as how to plot out the steps needed to put it into action.
Objectives
The study's overarching goal is to improve Nexus4.0's business practices via the implementation of Knowledge Management & Information Governance, which requires first understanding the company's existing state. Knowledge Management's goals are to disseminate understanding and expertise, facilitate timely and appropriate decision-making, and increase productivity by reducing the number of times individuals must relearn previously acquired information. Information governance refers to the process that making choices in a systematic, repeatable way that encourages the investment of information that can be used to achieve the goals of an organization.
Moreover, this study aims to evaluate as well as implement the SECI model in the research, and also to explain how this technique may be used to improve the production and sharing of information and knowledge within the company; to describe how this could be utilized to address issues like high staff turnover; and to provide practical applications of the findings.
Business Data, Information and Knowledge Needs
Nexus4.0 is a start-up firm with operations located in Sydney that produces equipment for use in smart homes. As a result of the manifestation of COVID-19, they were compelled to adopt a technology strategy in order to boost their product sales. In the past, all of their sales and marketing activities were completed in person by their personnel both in the office and out in the field. This included both in-person and out-of-office interactions. However, in addition to making their brand recognized in the industry, they have also been forced to rely on technology such as an e-commerce website as well as a number of social networking sites. This is necessary in order for them to achieve their goal. They realized that in order to maintain their level of success throughout the COVID-19 epidemic, they needed to increase their investments in a reliable knowledge management system as well as correctly integrate information governance in to the their overall corporate governance structure. In other words, they needed to improve their information governance. In addition to this, they are forced to face significant difficulties in the management of their resources since their IT architecture is inferior to that of their rivals. In addition to this, they now need to find other personnel to replace the jobs that are empty in the company. The architecture of their network is planned to put their online shopping site somewhere else than inside their local area network (LAN). Their local area network (LAN) serves as the location for the storage of their Customer Relationship Management System, Human Resource Management System, & Billing System.
Businesses that use knowledge management to execute their processes are the only ones that can maintain their competitive edge in the rapidly changing world of today and meet the expectations of their customers. In this world, consumers' demands as well as preferences are always shifting, and only those businesses that use knowledge management to execute their processes can keep up. In the not-too-distant past, the success of a corporation was measured by the quality of the its information governance as well as its capacity to make efficient use of the information it had. Because of the substantial rise in importance of information systems over the course of the last several years, the business that is the subject of this case study has been strongly urged to implement one in order to maintain its position as a market competitor.
SECI Model
Ikujiro Nonaka first presented the SECI concept in 1990, and Hirotaka Takeuchi was the one who ultimately developed it further. It is a paradigm of theoretical thought that is well recognised. It explains how organisations generate explicit and tacit knowledge, how that information is disseminated across the organisation, and how it is repeated. It has been suggested that businesses use it in their operations. The company that is featured in the case study is also a business entity that is engaged in the production of items for smart homes.
This SECI model is very important to the company Nexus4.0 as it can highlight the various methods of generating and disseminating information, it can emphasize the importance of developing new ideas for communicating with others, it is able to categories the knowledge process based on which types of knowledge are interrelated. All of these features make it possible for the model to highlight the various methods of generating and disseminating information. (Clayton, 2022)
The SECI model incorporates not one, not two, but four distinct approaches to the process of knowledge transformation:...