Introduction
The concept of Knowledge management involves the process of creating, organizing, and sharing useful information within an organization. An individual or organization needs to have a successful knowledge management system by marinating information in a place that is easily accessible. A strategy for knowledge management is a plan of action that will be used by the company to manage its data and information to improve productivity. Therefore, they put in place effective knowledge management strategies as this will help in achieving the organizational goals. This paper will reflect on the strategies to manage knowledge, the importance of knowledge management, and an analysis of how Amazon leverages and make use of knowledge as a strategic advantage.
Strategy for Managing Knowledge
Knowledge management strategies are useful in specifying how a given service will be implemented in an organization to help in achieving the set goals. The 5Ps approach, that is, people, process, platform, and problem-solving, should be used when formulating a knowledge management strategy (Kassaneh et al., 2021). The first strategy for KM is encouraging and motivating employees. People are the domain contributors to knowledge management in an organization. Human resource is needed for the organization and storage of information which helps in knowledge management.
The second strategy is embracing networking by sharing knowledge within the organization. Through networking, it will be possible for the company to manage its data in the most effective manner, which will help in the management of knowledge. Problem-solving as a knowledge management strategy helps the organization to be equipped with the relevant knowledge needed for growth (Dereń et al., 2022). It helps in knowledge seeking, identification of new ideas and knowledge, as well as critical thinking among the employees. Another strategy for embracing knowledge management in the company is embracing partnership. Through the partnership, knowledge is exchanged between different parties, and this helps in coordination and networking.
Importance of Knowledge Management for Strategic Leadership
Knowledge management plays a vital role in the strategic leadership of an organization. When information and data is well organized in the company, the managers can effectively formulate leadership strategies. Effective knowledge management helps in managing time and resources. When formulating leadership strategies, the team may use minimal time to get information (Kassaneh et al., 2021). Knowledge management also helps in minimizing operation costs in an organization when formulating strategies. Strategic leadership is much involved, and it may be closetful for the company. However, KM reduces such costs by ensuring that all the information and data needed are kept in place; hence no need for hiring experts. Knowledge management is also beneficial for strategic leadership, creating a bridge between the current strengths and capabilities of the firm and the anticipated goals. The key objective of strategic leadership is to help in the planning of the ideas which can help in achieving the goals of the company. Therefore, KM will avail information and ideas which are useful when formulating strategies.
Knowledge management incorporates the creation and establishment of a working culture, which is directly linked with strategic leadership in the company. For effective strategic management, there is a need to have committed human resource capital through the utilization of key leadership skills (Ujwary-Gil & Godlewska-Dzioboń, 2022). KM is well much effective in empowering the employees, who provide the skills and knowledge needed for strategic management. Strategic leadership in an organization depends on effective communication, which is achieved through the management of information and data. Therefore, through knowledge management, the strategic management team will be in a position to use suitable communication channels that helps in delivering the needed information in an organization.
Feasibility of Leveraging Knowledge Generation- Amazon
Amazon Inc., an e-commerce company, is one of the companies that has shown positive results in knowledge management. The company has easily enhanced knowledge generation in its operation through the use of technology. Being an e-commerce company, the company has a well-established technology that facilitates networking, communication, and management of data (Ladislau et al., 2021). Amazon has an effective web service system (AWS) that is specifically designed for the storage of information. The information is encrypted to help facilitate the strategic management team with the needed data during strategy formulation. This helps in saving time and resources hence stimulating the growth of the company.
Amazon Inc. has also embraced the effective implementation of KM through internal communication. The communication system of the company is much developed in a way that all the departments and personnel are well equipped latest information. The company has also facilitated effective communication through social media platforms which help in collecting ideas that relate to strategic management. Knowledge management has also been enhanced at Amazon through innovations. The young generation in the company, who are well versed in technology, contribute a lot to the website innovations that help in knowledge management.
Transfer Strategies
Knowledge transfer strategies help in the planning and organization of the documents, which helps in the provision of the needed information. Transfer strategies ensure that information is well structured and transferred to everyone in an organization. Amazon has a good networking system that ensures that everyone in the company is informed on the strategic moves and goals. The company has embraced strategy transfer through technology by getting transformed from paperwork (Dereń et al., 2022). All information for the company is computerized and well-encrypted, which can be helpful for future reference. The company has also embraced knowledge transfer through e-learning and training employees on new technological skills. This has helped the company to get equipped with the qualified personnel that helps in data and information management
Knowledge as a Core Source of Strategic Advantage
Knowledge has played a vital role in the strategic management of Amazon Inc. The company has been able to be among the top e-commerce company through its effectiveness in managing information. The use of modern technology in the company contributes to the competitiveness of the company in terms of making outstanding strategies. For instance, technology helps the company in making strategies that help customers to shop online. This has been made effective by ensuring that the website supports online transactions where the customer can make the order, pay for the product, and get delivery on time.
Conclusion
Knowledge management has also enhanced the effective utilization of the resource and capabilities of amazon company limited hence making leading to its strategic management. The company is one of the best in the formulation and implementation of strategies on time (Dereń et al., 2022). This is a result of good organization, sorting, and arrangement of the information on the database. Other companies competing with Amazon do not have a good data management system that helps in getting organized like Amazon. Through a data management system, the company can make updated strategies that help in the growth of the company.
References
Dereń, A. M., Skonieczny, J., & Łukaszczykiewicz, S. (2022). E-Learning as an Instrument for Managing Knowledge of in the Field of Sustainable Development in a Chemical Company in Poland. Sustainability, 14(14), 8351.
Kassaneh, T. C., Bolisani, E., & Cegarra-Navarro, J.-G. (2021). Knowledge Management Practices for Sustainable Supply Chain Management: A Challenge for Business Education. Sustainability, 13(5), 2956.
Ladislau, D., Ribeiro, M. W. S., da Silva Castro, P. D., Pantoja-Lima, J., Aride, P. H. R., & de Oliveira, A. T. (2021). Ichthyological ethnoknowledge of the “piabeiros” from the Amazon region, Brazil. Journal of Ethnobiology and Ethnomedicine, 17(1).
Ujwary-Gil, A., & Godlewska-Dzioboń, B. (2022). Challenges in Economic Policy, Business and Management in the COVID-19 Era. In Google Books. INE PAN.