Discuss about the Knowledge Audits for Business Analysis.
Knowledge audit is defined as a dynamic procedure that helps in evaluation, assessment and analyzing the knowledge policies, structure, resources, flow and requirement in firms. As per Hargreaves and Fink (2012), the knowledge audit includes assessment of culture and information, core process prioritization, KA reporting, knowledge health measurement, continuous re-auditing and KM strategies recommendations. Knowledge audit is a huge sector thus it helps an individual or a specific project leader to enhance his creative knowledge towards the job role and also towards his leadership practice. According to Mendenhall and Osland (2012), the knowledge audit is a broaden segment that is composed of ten different components. These include – identification of the objectives of the organization and also its process, identification of core processes of an organization, prioritization and selection of core processes of an organization and identification of key people. In addition to these, the knowledge audit includes – knowledge inventory, knowledge mapping, knowledge flow, auditing reporting and knowledge re-auditing (YouTube 2016). From these it can be said that the knowledge audit is a complex process, thus, for easy and better convenience, a specific project leader should implement a particular framework that is known as eight steps Framework. This specified framework makes the work easier for the project leader as through this eight step framework, a project leader can easily implement the knowledge audit within an organization in order to run the business successfully. This framework is composed of orientation and background studies, assessment of culture, in-depth investigation, developing knowledge mapping and knowledge inventory, knowledge network analysis, recommendation, deployment of KM tools and developing collaborative culture and re-audit.
This has provided me with enormous knowledge. I have gathered knowledge regarding the essentials that a project leader requires for implementing knowledge audit. In addition to this, I have also learnt the KM procedures that will help me in my future.
Title: Solving the real business problems by the management of an organization
Link: Fred Nickols’ Web Site. (2016). Nickols.us. Retrieved 14 September 2016, from https://www.nickols.us
Discussion: The process of resolving different problems in a particular organizational setting is primarily an activity that surpasses the competence of a single individual. The present article addresses different subjects of problem solving from the viewpoint of a single individual acting as the problem solver. The present case study on Poor Frank illustrates the intricacies associated to the process resolving business problems in an organization. The strategies that Poor Frank needs to adopt in a bid to recover the different expenses of the operations carried out in his section with increase in the performances (nickols.us 2016). Again, the present case study also illustrates the importance of reduction of the uncertainty in businesses by identification of the problem, investigation of the identified problem and thereafter the intervention of the management for the purpose of solving the problem. In addition to this, the current study also explains different stages of the life cycle of a definite problem that includes the problem state, solved state and the solution path. As per the case study of Frank, the problem state refers to the different course of work that the Frank has to carry out in order to define the challenge of the organization. Thereafter, the management of the company can evaluate different solved states that the company can avail. The present article on solving different business problems of the Frank hereby explains different structures of the identified situation, causes of different state of the problems, alternative ways for the achievement of diverse solved state and finally the decisions concerning the solutions alternatives (nickols.us 2016). As per the case study, it can be hereby ascertained that the case study helps in understanding the consensus regarding the problem state of businesses along with the obligations regarding different solved state that can assist in attaining the solution path.
The article on solving real business problem that draws special reference to the case of Poor Frank helps us in acquiring important lessons regarding the solving business problems. The present paper has also helped me to understand the significance of the consensus, cooperation, coordination and commitment for solving different business problems. Again, the paper also explains us the importance of distinguishing between the chaffs and the real problems. In addition to this, the article based on the case study throws light on the fact that Frank had to resolve different associated problems in order to solve the main identified problem.
Title: Perceptions regarding the actual problems and challenges in a business
Link: business school.exeter.ac.uk. (2016). Retrieved 14 September 2016, from https://business school.exeter.ac.uk
The current article explains different factors that give rise to different perceptions of the leaderships who might possibly perpetuate the identified problems through their own activities. In addition to this, the leaders need to identify the real problems that might arise due to the upward as well as sideways management, inadequate attention to different administrative functions and implementations (Sadri 2012). This can be regarded as the perception of the leaders of the organizations towards an identified problem. The present article also explicates the need for the identification of different problems that can restrict the consensus regarding leadership in the organization. In addition to this, this study also states that the identified leaders can enhance the skills and competence of the employees of the organization in a bid to exercise higher degree of imagination, originality as well as innovative solutions to different problems in an organization. The article explains different leadership traits, styles and behavior and illustrates different leadership theories in practice.
The shared leadership can be regarded as an important factor for the augmentation of the creative leadership as well as knowledge (Hargreaves and Fink 2012). As rightly indicated by Carter et al. (2012), the shared leadership refers to the team concept in which the leadership is allocated among different members of a team and are not concentrated on an individual designated leader. Creative leadership can overcome the existing threats from the external market environment (Shuck and Herd 2012). Thus, this shall facilitate the management of the business entity to develop effective marketing as well as operational strategies to ensure market survival in an intensely competitive market. Mendenhall and Osland (2012) mentioned that innovation is one of the primary characteristics of creative leadership. Innovation would lead to the development of distinctive products and services that shall attract prospective customers towards the brand. However, there are certain challenges that would hamper the process of creative leadership. Qiujiang (2012) mentioned that such factors are unpredictable consumer behavior and vulnerable economic condition of the region. Therefore, the marketing and the operational policies of the business entity should be framed after considering such market attributes.
Shared leadership is also considered to be an important factor for development of the creative leadership as well as knowledge (Day et al. 2014). The shared leadership can lead to synergies as well as expertise that can be drawn from a shared model of leadership (Sadri 2012). The team members can thereby take on the tasks that are best suited for the individuals or else can be considered to be most motivated to achieve (Regent.edu 2016).
Reflection:
The leaders in the top management of the organization can concentrate on finding out the problems, recognize the unstated problems and at the same time different understand different misunderstood issues. The identification of the problems by the leaders also depends on the perceptions of the leaders. The current section illustrates the importance of the shared leadership in the improvement of the creative leadership and at the same time knowledge. This particular segment has helped me to understand that the shared leadership can help in attainment of success by integrating the important factors of different types of leadership, for instance, the task oriented leadership, and behavior oriented leadership and many others. Again, the concept of shared leadership makes me aware of the fact that the shared leadership can help in reduction of the level of stress for leaders and do not unduly pressurize a single leader.
Title: Importance of human capital and intellectual capital in augmentation of creative leadership and knowledge
Link: www.bus.tu.ac.th. 2016. www.bus.tu.ac.th. [online] Available at: https://www.bus.tu.ac.th/usr/sab/articles_pdf/research_papers/dti_paper_web.pdf [Accessed 8 Aug. 2016].
Intellectual capital is defined as the economic value of two groups on the intangible assets of an organization that include human and organizational capital. The intellectual capital is considered as a factor that generally involves social capital, human capital and organizational capital. Opined to Shuck and Herd (2012), the intellectual capital is referred to the knowing capability and knowledge of a social together, like an intellectual community, organization and professional practice. However, it has been found that there is a lack of gap regarding these terminologies. According to Dries and Pepermans (2012), the intellectual capital is considered as a part of human capital that also includes emotional and social capital. The intellectual capital is embedded into both systems and people. Thus, the stock of the human capital is composed of organizational, social and human. Therefore, the development of the human capital needs attention to the mentioned complementarities. Thus, it can be said that for achieving competitive advantages, integration between the social, organizational and human capital is required. From this concept of interdependency or interrelation, it can be said that the intellectual capital along with social and human capital help in augmentation of creative knowledge and leadership.
As per Spillane (2012), the central proposition of the theory of social capital indicates the network of relationships that are composed of valuable resource for conduction of social affairs that are more embedded within the association of mutual association. Opined to Dries and Pepermans (2012), the social capital increases the efficiency of action and thus it helps in cooperative behavior. The social capital and the social relationships are considered as a vital factor that put impact on the development of both intellectual and human capital. It has been found that at individual level, the individuals having better social capital generally earns higher rate of return on the human capital. According to Mendenhall and Osland (2012), on the basis of the twin concepts of trustworthiness and sociability, the social capital has the richness and depth of these potential points and connections of leverage build substantial pools of opportunities and knowledge or arbitrage and creation.
Therefore, it can be said that the interaction between the social capital, human capital and organizational capital will produce the intellectual capital. Thus, it might affect the knowledge management within a firm. It has been found that most of the organizations define knowledge, provide mechanisms and also identify the present knowledge bases in order to promote the protection, creation and transfer of knowledge (www.bus.tu.ac.th 2016). Finally, it can be said that the greater the sense of social community within an organization, it is more likely that the knowledge will be generated and transferred.
From this I can said that both the skills items i.e. intellectual capital and human capital have increases my understanding regarding the Creative Leadership and Knowledge within Business Analysis. At present I have a clear concept that all the intellectual capital, social capital, human capital and organizational capital are interrelated to each other. Thus, in my future I can put similar importance to all these capitals in order to run my business successfully in future.
References
Carter, L., Ulrich, D. and Goldsmith, M. eds., 2012. Best practices in leadership development and organization change: how the best companies ensure meaningful change and sustainable leadership (Vol. 18). John Wiley & Sons.
Clinton, J.R., 2012. The making of a leader: Recognizing the lessons and stages of leadership development. NavPress.
Day, D.V., Fleenor, J.W., Atwater, L.E., Sturm, R.E. and McKee, R.A., 2014. Advances in leader and leadership development: A review of 25years of research and theory. The Leadership Quarterly, 25(1), pp.63-82.
Derekstockley.com.au. (2016). Soft Skills Training Courses. [online] Available at: https://www.derekstockley.com.au [Accessed 8 Aug. 2016].
Dries, N. and Pepermans, R., 2012. How to identify leadership potential: Development and testing of a consensus model. Human Resource Management, 51(3), pp.361-385.
Fred Nickols’ Web Site. (2016). Nickols.us. Retrieved 14 September 2016, from https://www.nickols.us
Hargreaves, A. and Fink, D., 2012. Sustainable leadership (Vol. 6). John Wiley & Sons.
Komives, S.R. and Wagner, W., 2012. Leadership for a better world: Understanding the social change model of leadership development. John Wiley & Sons.
Mendenhall, M.E. and Osland, J., 2012. Global leadership: Research, practice, and development. Routledge.
Qiujiang, W., 2012. Integrating Creativity and Leadership: Creative Leadership. Journal of Psychological Science, 4, p.031.
Regent.edu. 2016. Regent University – Christian Education in Virginia & Online. [online] Available at: https://www.regent.edu [Accessed 8 Aug. 2016].
Rego, A., Sousa, F., Marques, C. and e Cunha, M.P., 2014. Hope and positive affect mediating the authentic leadership and creativity relationship. Journal of Business Research, 67(2),pp.200-210
Sadri, G., 2012. Emotional intelligence and leadership development. Public Personnel Management, 41(3), pp.535-548.
Shuck, B. and Herd, A.M., 2012. Employee engagement and leadership: Exploring the convergence of two frameworks and implications for leadership development in HRD. Human resource development review, p.1534484312438211.
Spillane, J.P., 2012. Distributed leadership (Vol. 4). John Wiley & Sons.
University, M. 2016. Michigan State University. Est. 1855. East Lansing, Michigan, USA.. [online] Msu.edu. Available at: https://msu.edu [Accessed 8 Aug. 2016].
www.bus.tu.ac.th. 2016. www.bus.tu.ac.th. [online] Available at: https://www.bus.tu.ac.th/usr/sab/articles_pdf/research_papers/dti_paper_web.pdf [Accessed 8 Aug. 2016].
YouTube. 2016. KM Inspiration Part 2. [online] Available at: https://www.youtube.com/watch?v=8tzwQ97MJTM&list=PLD97B3B3F6C740D99&index=3 [Accessed 8 Aug. 2016].
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