This is a major piece of writing for this course which requires you to research a particular theory or practise in management that has contributed significantly to the development of the profession. You are required to write a min 2000 word critique (word limit excludes references and index).topic is Knowledge Creation
The business happens these days so dynamically and with the globalization that is happening in almost all the fields the companies are outsourcing most of the aspects that are not key to them to other players. It can also been seen that there are many companies that are shifting their operations into the more developed nations and at the same time they are also looking at the knowledge transfer and creation so that they can have a competitive advantage over a long time.Thus we can say that this knowledge management and efforts of the knowledge creation has been placed at the centre of globalization and this has become one of the deciding factors for the companies. Companies are focusing more on developing the key skills of the employees and at the same time they are trying to pass on the knowledge that they have acquired to other parts as well so that there is standardization and at the same time they can reduce the costs in terms of operation. In terms of knowledge creation and sharing the tools and enablers that are available to the people are many that can help them in getting access to the knowledge and at the same time share it to everyone. Internet has become a very powerful medium that has enabled people in knowledge creation and knowledge transfer in a cost effective manner (Birchall, 2005).
One of the major challenges that the companies face these days are that the top management initiatives in terms of knowledge creation is limited and there are very few companies that proactively takes an initiative in doing that. One of the competencies that the companies have to train themselves on is that they have to make sure that the get the best talent on board and then create avenues for knowledge creation and thus improve their skillets which in turn would better their productivity in the organization. One of the other major challenges is that the companies have to engage in this process in a continuous basis so that they are not falling behind others and knowledge creation is a continuous process as it gets obsolete if not updated in a regular basis. There should be a system in place for the companies to make sure that the encourage their employees in their organization to create and share knowledge in a regular basis so that the geographical and physical boundaries are not coming in the way of knowledge creation (Chou,2004). Thus one can say that it is a strategic decision that the companies have to take on how they go about in managing the knowledge.