Knowledge management Assignment Example | Topics and Well Written Essays - 500 words

Knowledge management - Assignment Example Since KM concentrates on improving people’s skills, knowledge, experience, wisdom and overall personal as well as professional quality, they are prompted to work better and thus helps the organization achieve high performance. As Noe (2002, p. 168) defined, Knowledge Management focuses on creating knowledge and sharing or exchanging it for further use in the organization for its overall purposes. It is thus a management process that can enhance business performance by designing, implementing and strategically aligning various tools, processes, systems and cultures with a view to improve people’s knowledge. Its theoretical foundation is that knowledge is power, people are most powerful assets in the firm and therefore improving people’s knowledge is the best strategy to enhance greater productivity in the firm. Bumrungrad, as the word itself denotes ‘care for community’ has grown to be an internationally renowned hospital with more than 30 years in service. It has also become an illuminating example for better model for knowledge management practices. As its Annual Report (2011, p. 17) reported, a training program conducted by Spine Institute in cooperation with Anna Hospital in Germany for doctors from Thailand, Malaysia, Hong Kong, India and other countries. This training not only helped doctors learn something new, but also shared their views, opinions and experiences in relation to full-endoscopic spine surgery among the doctors and other members of the training. An effective way the Hospital has implemented for KM practice was IDP (Individual Development Program) that comprises of continuous education, regular training programs and other knowledge sharing functions. it holds Town Hall Meeting wherein employees get opportunities to raise their voices and views and thus to exchange knowledge among its people. As Bumrungrad’s Annual report (2011, p. 90) revealed, the company believes that work efficiency is the result of loyalty its