Search the ITT Tech Virtual Library and read about how an organization can use a

Question

Search the ITT Tech Virtual Library and read about how an organization can use an enterprise knowledge management system to make better business decisions. Document a brief description the business products and/or service the business performs answering the following questions: Explain the business problem and/or business decisions the organization need resolving. Which type of knowledge management system was implemented? Did the implementation of the knowledge management system improve the business competitive advantage and market standing? How was it improved?

Explanation / Answer

Organizations need to resolve different business problems that come out at a different level and occasions. It starts with:

1.    What is demanded in the market and how can an organization capitalize on it?

2.    Should an organization, enter or go for another alternative?

3.    Which technology is more suitable?

4.    How can an organization build value for the customers?

5.    How to adopt change strategy to make sustained profitability?

Organizations strive to find out the answers of above business problems so that competitive advantage as well as profitability is maintained on a continuous basis. To assist in resolving these issues, the organization also goes to implement knowledge management systems. It helps with the use of enterprise wide acquired knowledge to find out the answers and support in decision making. Organizations can go with management information system or artificial intelligence system that can help with interpretation of knowledge / data acquired by the organization.

It helps in improving the competitive advantage as well as market standing because the implemented system interprets the knowledge and data and discloses the hidden information. It helps in wise decision making. Although, it completely depends upon the competency of the managers who apply the information for its best use.

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