Profit and Loss Account Coursework Example | Topics and Well Written Essays - 500 words

Profit and Loss Account - Coursework Example The indirect costs (those that cannot be directly attributed to generating revenue) are then deducted from the gross profit to give a net income figure. A single profit and loss account provides information about how much it costs to generate sales, and how much room for manoeuvre the business has before an increase in the costs of generating those sales causes the business to become unviable (e.g. raw materials may increase to a point where it is no longer financially viable to make a particular product). This can be shown by considering the gross profit as a percentage of the sales revenue. The same can be applied to the indirect expenses of the business. Monitoring these costs can indicate when a particular supplier is becoming too expensive, and the business should look for another supplier who offers better value for money. The net profit figure, as a percentage of the sales revenue indicates the total effect of all costs relating to the business and whether the business continu es to be viable and generates profits for the owner (in this case Peter).Peter’s profit and loss account indicates that he rents property rather than owning his own factory or workshop. The depreciation figure is not broken down, which means that the type of assets that are subject to depreciation cannot be seen, although the motor expenses indicate that the business probably owns some form of motor vehicle.

Management Planning Case Study Example | Topics and Well Written Essays - 1750 words

Management Planning - Case Study Example This energy service group is the most profitable business that earns the company billions of dollars annually. The company's planning function of management is carefully designed so as to meet the challenges of the company. In its planning management policy, Halliburton has incorporated various issues or aspects for its efficient functioning. This includes Halliburton maintains a core value and provides support on HSE matters as they relate to their business activities3. By maintaining Health safety and Environment, Halliburton's business will grow since they will reduce costs that they could have incurred in treating their workers as well as accidents of company's equipment. Halliburton has investor relation in the companies that it has interests' relations in the companies that it has interests. Halliburton has entered into a definitive arrangement with the shareholders of PSL energy services limited (PSLES) to purchase the entire share capital of the company5. Halliburton maintains good relations with the suppliers of the raw materials used in their sites and plants such a relationship is strategic as it ensures that there is continuity in the time operations and therefore the future uncertainties are well anticipated for. e) With a commitment in providing high quality services to customers, Halliburton requires to develop diverse & global network of qualified suppliers. This is done while keeping suppliers ethics and diversity too. These will provide a supply chain excellence. The supplies are for upstream oil and gas for drilling bits and down holes. __________________ 5. Expansion plans of Halliburton, April 26, 2007, Business wire Community: - Corporate social responsibility policies are those in place to ensure that an organization operating in a given geographical environments gives back as a way to strengthen individuals and the communities by supporting a variety of charitable activities and organization. Emphasis is normally laid upon those actives that involve or relate to employees customers of Halliburton. Such support comes in three main forms viz corporate giving through donations to not for profit

Knowledge Management in Malaysia

Knowledge Management in Malaysia CHAPTER TWO: LITERATURE REVIEW 2.1 OVERVIEW It is so difficult and though for the managers of the organizations to apply knowledge management in their departments, because this major is still new in so many aspects such as business environment and organizational culture or behavior and it has a long way to be completed. It is hard for the managers to believe that, it has so many benefits if they use knowledge management tools in their organizations. Managers should bear in their mind that knowledge management is not an automatic practice, it must be initiated by people and have the support of the whole organization. Something like these myths need to be eliminated and the exact meaning of knowledge management must be clearly understood by managers and the rest of the organizations. This will help the managers to abundantly getting help from knowledge management and apply it in the organizations (Sobahle 2005). The study on American Productivity and Quality Centers International Bench-marking shows that, about 11 organizations are working on the knowledge management area which are: Arthur Andersen; Chevron Corporation; Dow Chemical Company; Hughes Space Communications; Kaiser Permanente; Price Waterhouse; Sequent Computer Systems; Skandia AFS; Texas Instruments; USAA; and National Security Agency, the following was recognized (Ishak, 2002): Share the understanding those techniques which can be used. Apply the techniques to new directions. Further more, the other issues which can assure the success of knowledge management initiatives are something like, emphasizes on the issues such as employees issues, top management leadership and commitment, organizational culture and technological infrastructure. This chapter approaches the literature review on knowledge management. In this chapter the try is made to clarify some of the most important key factors of knowledge management and analyze their respective literature. The attempt is made to show the different aspects of knowledge management. It has a brief introduction on knowledge management which is used by Malaysian organizations then it will be explain about the knowledge management frame works and architectures. In this chapter the most two important factors in knowledge management which, technological approach and human approach, are considered. This chapter will finish by the knowledge management concern, issues and at last discuss about the benefit of knowledge management will be considered. 2.2 KNOWLEDGE MANAGEMENT IN MALAYSIA Over past two decades Malaysia has been transitioning from relying on a production based- economy to a knowledge-based economy (Chang, 2005). The concept of knowledge management in Malaysia was born with the establishment of the â€Å"Multimedia Super Corridor (MSC)† in 1990s to accelerate this concept in Malaysia. Actually, there are so many Malaysian companies which they are working on knowledge management and they realize and understand the importance of it in the professional life. In January 15, 2002, one of the prestigious magazines in Malaysia, Computerworld Malaysia organized the Knowledge Management Roundtable ‘A Vital Strategy or Expensive Toy. The participants from various sectors in Malaysia shared their point of views and approaches implemented and exchanged ideas in practicing knowledge management (Chang, 2005). As an example for the practical aspect, there are a number of organizations in Malaysia which are successful in knowledge management initiatives, such as: Malaysian Institute of Microelectronic Systems (MIMOS), MAMPU, Bank Negara Malaysia, Siemens, Nokia Malaysia and Telekom Malaysia, Tenaga Nasional Berhad and Petroleum Nasional Berhad (Petronas) are examples of organizations in Malaysia that have embarked on KM initiatives. There are so many studies on knowledge management in Malaysia, and the structure of Malaysia papers in Malaysia seems to be incomprehensive, there are a few number of out standing articles to mention, which shows in table 2.1. Table 2.1: Knowledge Management: Malaysian Studies Title Author/ Date/Journal Nature of Work Intellectual capital and business performance in Malaysian industries Bontis, Chua Richardson (2000) Journal of Intellectual Capital Research Study (Conducted among Malaysian firms) Knowledge management in healthcare: towards ‘knowledge-driven decision- support services Abidi, (2001) International Journal of Medical Informatics Case Study (Universiti Sains Malaysia Hospital located in Kota Baharu, Malaysia) Managing human resources toward achieving knowledge management Yahya Goh, (2002) Journal of Knowledge Management Research Study (Conducted among Malaysian firms) Knowledge management in a public organization: a study on the relationship between organizational elements and the performance of knowledge transfer. Syed Ikhsan Rowland, (2004) Journal of Knowledge Management Case Study (Ministry of Entrepreneur development of Malaysia) Benchmarking knowledge management in a public organization in Malaysia Syed Ikhsan Rowland, (2004) Benchmarking: An International Journal Case Study (Ministry of Entrepreneur development of Malaysia) An empirical study of perceived importance and actual implementation of knowledge management process in the Malaysian telecommunication industry Chong Yeow, (2005) Proceedings of ICTM Research Study (Study among Malaysian telecommunication Industry KM critical success factors: A comparison of perceived importance versus implementation in Malaysian ICT companies. Chong, (2006) The Learning Organization Research Study (194 Malaysian ICT companies) KM implementation in Malaysian telecommunication industry an empirical analysis. Wei, Choy Yeow, (2006) Industrial Management Data Systems Research Study (289 employees working in Telecommunication organizations in Malaysia) KM implementation and its influence on performance: an empirical evidence from Malaysian multimedia super corridor companies Chong, (2006) Journal of Information and Knowledge Management Research Study (Study among Malaysian multimedia super corridor companies) Exploring KM issues and KM performance outcomes: empirical evidence from Malaysian multimedia super corridor companies Chong Lin (2006) International Journal of Technology Management Research Study (Study among Malaysian multimedia super corridor companies) An exploratory study on knowledge management adoption in the Malaysian Industry. Wong, (2008) International Journal of Business Information Systems Research Study (exploratory KM survey conducted in the Malaysian industry) 2.3 KNOWLEDGE MANAGEMENT IMPLEMENTATION FRAMEWORKS According to Von Krogh (1998), which he takes a business perspective stating that KMS help increase competitiveness, the purpose of implementing KMS in organizations are various. KMS leads to grater innovation and responsiveness, Hackbarth (1998). Davenport and Prusak (1998) provide three reasons why KMS are implemented in organizations which are as follows: Ø To enhance visibility of knowledge in organizations through the use of maps, hypertexts, yellow pages, directories etc. Ø To build a knowledge sharing culture i.e. create avenues for employees to share knowledge. Ø To develop a knowledge infrastructure, not confined to technology solely, rather create an environment that permits collaborative work. These three things which were proposed by Davenport and Prusak (1998) imply that KMS can support an organization in planning for and dealing with emergencies. Many organizations are still wrestling with their knowledge management and failing to realize its full potential. This is due to their lack of the support of strong theoretical foundation to guide them in its implementation (Wong Aspinwall, 2004). Unfortunately, many organizations do not have a clear knowledge management implementation plan in mind (Liebowitz, 1999). Therefore, in order for an organization to be victorious in its effort to manage knowledge, a guiding framework is essential. This is why in this part a review of diverse knowledge management implementation frameworks and models is presented. The framework consents to researchers as well as practitioners to measure the current state of knowledge management effectively and systematically. Thus, the knowledge management framework should provide not only a unified view of knowledge management phenomena but also help investigators study the field of knowledge management in an organized way. There have been few efforts to de velop a framework of knowledge management. However, none of the frameworks can provide a complete and generalized frame for knowledge management by defining fundamental attributes of knowledge management and their interrelationships because knowledge management can be viewed differently on ones background and interests (Chong, 2005). To know the exact value of knowledge management, an architecture of it, would provide the necessary understanding of different components like, knowledge management activities, knowledge management resources, knowledge management influences (Holsapple Joshi, 1997). The improvement of a framework is to follow and track the progress and maturity of knowledge management of an enterprise, so, it would serve to support the industry-wide improvement of knowledge management programs. Further more, it would provide an acceptable frame of reference for the assessment of the adequacies of an organization by government, commercial customers and prime contractors (Chong, 2005). The knowledge management frameworks can be classified under four categories (Table 2.2) Which are namely, knowledge creation framework, knowledge cycle processes of knowledge management, cases on knowledge management initiatives in industry and high-level knowledge management frameworks. Table 2.2: KM Frameworks and their examples in the literature Knowledge Management Frameworks Examples Knowledge Creation Framework Nonaka(1991, 1994), Nonaka Takeuchi (1995) Knowledge Cycle Processes of KM Bose Sugumaran (2003) Cases on KM Initiatives in Industry Apostolou Mentzas (1998), Lai chu (2002) High-Level KM Frameworks Holsapple Joshi (2002), Jarrar (2002), Wiig (1997) Nonaka and Takeuchi are tried to explain the progress and adaption between tacit and explicit knowledge. In fact, knowledge creation framework is not a knowledge management framework, the reason is, and it only deals with the creation of knowledge which is only a share of what constitutes knowledge management. Also, the knowledge cycle processes of knowledge management frameworks are providing a set of activities where the prominence is on the knowledge cycle processes or activities. They mainly address the phases of knowledge flow (from creation to application) in an organization without providing guidance on how to implement knowledge management. The framework on knowledge management initiatives in industry provide a reference to facilitate the structuring, analysis and evaluation of the knowledge management initiatives undertaken in various case companies. Lastly, High-Level knowledge management frameworks are the ones providing more detailed directions on the implementation of kn owledge management. This type of framework seems to address not only the question of what is but also how to because it prescribes and suggest ways for organizations to engage in knowledge management activities (Wong Aspinwall, 2004). In their review of literature, Wong and Aspinwall, try to have an organized review of the various available frameworks for knowledge management implementation. The acceptable thing for the review was to classify the knowledge management implementation frameworks, find out the short comings of each and finally suggesting a through guide line for developing knowledge management implementation frameworks. They have classified the high level knowledge management frameworks as frameworks such as: 1) System approach, 2) Step approach, 3) hybrid approach.(Table 2.3, 2.4, 2.5 shows the comparisons between frameworks under each approach). Table 2.3: Comparisons of system approach frameworks Source: Wong Aspinwall (2004) Holsapple Joshi (2002) Jarrar (2002) Gore Gore (1999) Wiig et al. (1997) Plan - Set strategic priority Define and understand knowledge Formulate vision Conceptualize Reflect Execute - - - Act Evaluate - - - Review Knowledge Types / resources Knowledge embedded in participants, culture, infrastructure, artifacts, purpose and strategy - Tacit Knowledge Explicit knowledge - KM processes / activities Acquire, select, internalize and use knowledge Collect, present, distribute and measure knowledge Mainly focuses on knowledge creation and externalization Develop, distribute, combine and consolidate knowledge KM influences / factors Resource influences, managerial influences, environmental influences Knowledge environment - External and internal developments ‘-, not indicated or not clearly indicated Table 2.4: Comparisons of step approach frameworks Source: Wong Aspinwall (2004) McCampbell et al. (1999) Wiig (1999) Plan Form powerful coalition Communicate vision of KM Establish teams for needs assessment Analyze the needs of KM Obtain management buy-in Survey and map the knowledge landscape Plan the knowledge strategy Create and define knowledge-related alternatives and potential initiatives Portray benefit expectations for knowledge management initiatives Set knowledge management priorities Determine key knowledge requirements Execute Identify and collect knowledge Design a technological structure Test the technology Maintenance of the technology Retest the technology Training of knowledge workers Roll out the use of KM practices Make systems go live Acquire key knowledge Create integrated knowledge transfer programs Transform, distribute and apply knowledge assets Establish and update a KM infrastructure Manage knowledge assets Construct incentive programs Coordinate KM activities and functions enterprise-wide Facilitate knowledge-focused management Evaluate Track usage Measure quality and productivity Measure the performance of KM practices Conduct a need assessment review Monitor knowledge management Knowledge type / resources Internal knowledge External knowledge Can be inferred from the step: â€Å" manage knowledge assets † KM processes / activities Identify and collect knowledge Acquire, transform, distribute and apply knowledge KM influences / factors - Can be inferred from the steps: ‘construct incentive programs and ‘facilitate knowledge-focused management ‘-, not indicated or not clearly indicated Table 2.5: Comparisons of hybrid approach frameworks Source: Wong Aspinwall (2004) Rubenstein Montano et al. (2001) Mentzas (2001) Plan Strategize, Model Awareness plan Execute Act, Transfer Develop, operate Evaluate Revise Measurement Knowledge types / resources Tacit knowledge, Explicit knowledge Knowledge assets KM processes / activities KM tasks Process KM influences / factors Culture, Strategy, learning Strategy, Structure, System By study on these knowledge frameworks creator an absolute knowledge management implementation framework may include the possible accesses on success of knowledge management. Further more, the obstacles and developers should bear in their mind that if they want to analyze managers in regard with, which elements are likely to disrupt the knowledge management implementation success and which elements may enable their effort towards knowledge management achievements. Finally, a knowledge management implementation frame work should â€Å"make a correspondence view among social and technological approach to knowledge management†. Consideration of the authors demonstrate that most of the time this correspondence is disturb in favor of one approach while the other approach is either totally neglected or received incomplete attention (Wong Aspinwall, 2004). Different types of knowledge resources are identified. The activities and processes which can help to manage them should be mentioned in the knowledge management implementation framework. As an example, there is some of knowledge management processes such as: acquiring, capturing, creating, organizing, storing, accessing, transferring, sharing, applying, distributing and using knowledge. The suggested clues by Wong and Aspinwall for developing a knowledge management implementation framework include five factors, which are as follows: (1) Incorporate a clear structure to organize the tasks. (2) Address the different knowledge resources or types. (3) Include the knowledge management processes or activities that manipulate the knowledge. (4) Point out the influences that can affect the performance of knowledge management. (5) Provide a balanced view between a technological and a social perspective. 2.4 KNOWLEDGE MANAGEMENT SYSTEMS CATEGORIZATION 2.4.1 Knowledge Management System Definition Knowledge management system (KMS), are mostly IT based systems for managing knowledge in organizations and are used for supporting, creating, capturing and disseminating of information. The main concept of knowledge management system (KMS) is to make a facility for employees to have an access to the organizations information, sources, document base facts and their solutions. As a matter of fact a knowledge management system (KMS) could be any of the following things: Ø Social computing tools which can help to create a knowledge management system (KMS). Ø Knowledge management system (KMS), assist in creating network maps in organizations which is used in communication among individuals and entities. Ø Document based, any formatted that permits, control, manage. Ø Use Artificial Intelligence (AI), for customized representation schema to demonstrate the problem domain. Further more, the benefits of using knowledge management in organization can be categorized as: 1. Valuable organizational data and information sharing. 2. Reduce redundant work. 3. Decrease time for new incomers like new employees. 4. Retention of intellectual property. Based on this definition Gupta and Sharma (2004) divide knowledge management system into seven major categories, which are as follows (tables 2.6): Table 2.6: Example of KMS Source: Gupta and Sharma (2004) KMS Technology Description Expert Systems, artificial intelligence and knowledge based management system (KBMS) Main purpose of these systems is to capture knowledge and perform analysis on existing knowledge base to assist in decision making. Often associated to rule based and pattern recognition systems. Computer Supported Collaborative Work (Groupware) Systems that permit sharing and collaborative work. Often described synonymously to Lotus Notes. However, one could suggest that asynchronous (e-mail, wikis e-log) and synchronous systems (videoconference, chat) are newer applications that can fall into this category (Bates and Poole, 2003). Groupware can also include Group Support Systems (GSS) that is intended to support groups make decision (Mandviwalla, 1994). Document Management Systems Systems that support the need for managing text and images to make information much more accessible. Similar to the idea of office management systems i.e. use of various word documentation and spreadsheet software. Decision support systems (DSS) Business applications that usually contain summaries of large amounts of data, filtered and synthesized particularly to support strategic decision-making. View records related to this term5. The focus of DSS is on analysis of quantitative data and presentation tools for managers. Semantic Networks The focus is on systems that explain not just relationships between entities but the meaning based on how the entities are structured. Can be used to â€Å"represent domain knowledge explicitly and shared† (Gupta and Sharma, 2004). Relational and Object oriented databases Systems that permit management of both structured (relational) and much more complex data sets (OODBMS) Simulation tools Systems that run computer based simulations for a variety of purposes. 2.4.2 Knowledge Management Architecture Base on Gupta and Sharma (2004) findings, they suggest architecture for knowledge management which has seven levels and it is shown in table 2.7. Table 2.7: Overview of Knowledge Management Architecture Source: Form Gupta, Sharma Hsu (2004) Level Key Activities Customer Knowledge Detailed, knowledge sharing relationships. Understanding the requirements of customers. Identifying new opportunities. Stakeholder Relationships Becoming a better knowledge flows among suppliers, shareholders, employees, community, etc. Use this knowledge to inform key points strategies. Business Environment Insights Systematic environmental scanning including political, economic, technology, social and environmental trends. Competitor analysis. Market intelligence systems. Organizational Memory Knowledge sharing. Best practice databases. Directories of expertise. Online documents, procedures and discussion forums. Intranets. Knowledge in Processes Embedding knowledge into business processes and management. Decision-making. Knowledge in Products and Services Knowledge embedded in products. Surround products with knowledge, e.g., in user guides, and enhanced knowledge intensive services. Knowledge in People Knowledge-sharing fairs. Innovation workshops. Expert and learning networks. Communities of knowledge practice. As it shows above there is a seven layer for knowledge management architecture and each level related to a particular aspect of knowledge management. So, in this regard there is a summarization for this table which summarize the important part of this layers and compact it in just three layers, it is summarized in table 2.8 as follows: Table 2.8: Knowledge Management Architecture Source: Gupta, Sharma Hsu (2004) Layer Level Brief Explanation Data Sources layer According to different data sources which are accessible within organizations, this layer has both internal and external data sources. As an example, data repository, email repository, databases. Knowledge Management Layer The processes of knowledge management layer include acquisition, refinement, storage, retrieval, distribution and presentation of required knowledge. An example would be a knowledge base which assists decision making processes during an emergency situation. Knowledge Presentation Layer This layer represents the interface that forms the basis of interaction between users and the system. This can be called a knowledge portal that can guide decision making in dealing with an emergency situation. The knowledge portal can be designed to support communication, collaboration and information sharing requirement. There is two more explanation in detailed view for knowledge management architecture and knowledge management process model. The most important part in knowledge management architecture and knowledge management process are capturing knowledge, create a new knowledge, share it and distribute it as it is shown in 2.1 and 2.2. 2.4.3 Performance of Information Technology (IT) in Knowledge Management System (KMS) Information Technology (IT), plays an important role in acquire, store, disseminate and manage knowledge than ever before. Alavi and Leidner (2001), proposed an admired framework, which can be used to analyze and test the role of Information technology (IT) in design and fulfillment of any Knowledge Management System (KMS). The table (2.9) which is adapted from Alavi and Leidner (2001), shows the different perspectives of knowledge management initiatives and knowledge management system (KMS), design particularly. Table 2.9: Knowledge Perspective and impact on KM and KMS Source: Alavi and Leidner (2001, p.11) Perspective Meaning Implication for KM Impact on KMS Role in IT Knowledge vis-à  -vis data and information Data is consider as a fact, raw numbers, information is processed/ contextual data/ interpreted data knowledge is personalized information e.g this would entail once experience and exposure. KM initiative should expose employees to relevant information and facilitate assimilation of information. KMS may not necessarily be different from an existing information system. The differences are that any KMS should help employees assimilate the information. Role of IT is to ensure KMS design permits information assimilation. Knowledge as a state of the mind Knowledge is ones state of knowing and understanding. KM initiative should provide an information base that enables individuals to recognize the existence of knowledge. This can enhance individual learning and understanding. Accessibility to where knowledge resides rather than to knowledge itself- i.e. provide a means to an end. This would include web and wireless access to knowledge base. Knowledge as an object Knowledge that is stored and subject to manipulation. KM initiative should permit development and management of knowledge base. IT can support KMS to gather, store, and disseminate knowledge. This would include the use collaborative tools e.g. wikis. Knowledge as a process Knowledge visualized as a process of applying expertise. KM initiative should focus on effective flow of knowledge within the realms of knowledge creation, sharing and dissemination. by providing links to various knowledge sources which includes internal and external sources. This would include use of web based systems, hyperlinks, markup languages and access to databases. The idea is to offer a wider breadth and depth of knowledge flows Knowledge and accessibility to information Knowledge is a condition of access to information. KM initiative should provide ease of access to and retrieval of content in a given system. IT can be used to enhance indexing, query and locating relevant information. Knowledge as a capability As a capability knowledge has the potential to influence action. KM initiative should focus on developing core competencies and understanding the strategic intent of the initiative. It can increase the intellectual capital through development of individual and organizational competencies. Table 2.9 proposed that Information technology plays an important role in knowledge management initiatives in organizations. Alavi and Leidner (2001) defined a knowledge management system (KMS) as IT- based system develop to support and enhance the organizational processes of knowledge creation. They observe that not all knowledge management initiatives will implement an IT solution, but they support IT as an enabler of knowledge management (Raman, M. Muthaiyah, S.). In addition, knowledge management system (KMS) can assist organizations in dealing with dynamic and complex situations such as emergencies (Gupta Sharma, 2004). 2.4.4 Appropriate Theories to Knowledge Management Systems (KMS) This part consists of two theories which can help to design and implement decisions of any knowledge management systems (KMS) to support knowledge management in organizations. Those mentioned theories are, Information Processing Theory (IPT), and, Contingency Theory. 2.4.4.1 Information Processing Theory (IPT) George A. Miller (1956), has afforded two theoretical ideas which are the basic concepts of the information processing framework and cognitive psychology. The first approach is â€Å"chunking† and the capacity of short term memory. He insists that short term memory can get just 5-9 chunks of information (seven plus or minus two). A chunk could refer to digits, words, peoples faces or any other meaningful units. The second idea which Miller was mentioned is people process information akin to a computerized system. They take input into the memory like the computer, then the human minds take the information, analyze it, store the content and locate it in the best situation of memory and then retrieve as and when needed based on the given situation. In this context, Burnell (2004), state that:†As diversity of resources, processes or outputs increase inter process coordination requirements and system complexity increase. As uncertainty increases, information processing requirements increases become of managements inability to predict every situation.† Information processing theory is widely applied in the study of human learning and cognitive styles (Miller, 1960). As a matter of fact Information Processing Theory (IPT) has some principles which are often applied by instructors for the following reasons: Ø Gain the students attention Ø Point out important and critical chunks of information, separating them from trivial ones. Ø Provide opportunities for students in linking new to existing information. Ø Presenting information in clear manner. Ø Emphasize on meaning of information i.e. not memorizing them. Actually, those mentioned principles for information processing theory can be applied to design of knowledge management system (KMS) to support emergency preparedness as well (Kostman, 2004). Particularly, in approaching emergency situations, knowledge management system can be elaborated to enable decision makers to: Ø Retrieve information that is critical, quickly. Ø Focus on the situation without being loss amidst voluminous information. Ø Create and share a knowledge base by linking past experience to existing information base. Ø Structure emergency related information clearly. Ø Understand different meaning and interpretation of critical terminology used in dealing with an emergency. 2.4.4.2 Contingency Theory Contingency theory was founded by Lawrence and Lorsch (1967), in the study of ten firms in plastic, food, containers, which are three different i Knowledge Management in Malaysia Knowledge Management in Malaysia CHAPTER TWO: LITERATURE REVIEW 2.1 OVERVIEW It is so difficult and though for the managers of the organizations to apply knowledge management in their departments, because this major is still new in so many aspects such as business environment and organizational culture or behavior and it has a long way to be completed. It is hard for the managers to believe that, it has so many benefits if they use knowledge management tools in their organizations. Managers should bear in their mind that knowledge management is not an automatic practice, it must be initiated by people and have the support of the whole organization. Something like these myths need to be eliminated and the exact meaning of knowledge management must be clearly understood by managers and the rest of the organizations. This will help the managers to abundantly getting help from knowledge management and apply it in the organizations (Sobahle 2005). The study on American Productivity and Quality Centers International Bench-marking shows that, about 11 organizations are working on the knowledge management area which are: Arthur Andersen; Chevron Corporation; Dow Chemical Company; Hughes Space Communications; Kaiser Permanente; Price Waterhouse; Sequent Computer Systems; Skandia AFS; Texas Instruments; USAA; and National Security Agency, the following was recognized (Ishak, 2002): Share the understanding those techniques which can be used. Apply the techniques to new directions. Further more, the other issues which can assure the success of knowledge management initiatives are something like, emphasizes on the issues such as employees issues, top management leadership and commitment, organizational culture and technological infrastructure. This chapter approaches the literature review on knowledge management. In this chapter the try is made to clarify some of the most important key factors of knowledge management and analyze their respective literature. The attempt is made to show the different aspects of knowledge management. It has a brief introduction on knowledge management which is used by Malaysian organizations then it will be explain about the knowledge management frame works and architectures. In this chapter the most two important factors in knowledge management which, technological approach and human approach, are considered. This chapter will finish by the knowledge management concern, issues and at last discuss about the benefit of knowledge management will be considered. 2.2 KNOWLEDGE MANAGEMENT IN MALAYSIA Over past two decades Malaysia has been transitioning from relying on a production based- economy to a knowledge-based economy (Chang, 2005). The concept of knowledge management in Malaysia was born with the establishment of the â€Å"Multimedia Super Corridor (MSC)† in 1990s to accelerate this concept in Malaysia. Actually, there are so many Malaysian companies which they are working on knowledge management and they realize and understand the importance of it in the professional life. In January 15, 2002, one of the prestigious magazines in Malaysia, Computerworld Malaysia organized the Knowledge Management Roundtable ‘A Vital Strategy or Expensive Toy. The participants from various sectors in Malaysia shared their point of views and approaches implemented and exchanged ideas in practicing knowledge management (Chang, 2005). As an example for the practical aspect, there are a number of organizations in Malaysia which are successful in knowledge management initiatives, such as: Malaysian Institute of Microelectronic Systems (MIMOS), MAMPU, Bank Negara Malaysia, Siemens, Nokia Malaysia and Telekom Malaysia, Tenaga Nasional Berhad and Petroleum Nasional Berhad (Petronas) are examples of organizations in Malaysia that have embarked on KM initiatives. There are so many studies on knowledge management in Malaysia, and the structure of Malaysia papers in Malaysia seems to be incomprehensive, there are a few number of out standing articles to mention, which shows in table 2.1. Table 2.1: Knowledge Management: Malaysian Studies Title Author/ Date/Journal Nature of Work Intellectual capital and business performance in Malaysian industries Bontis, Chua Richardson (2000) Journal of Intellectual Capital Research Study (Conducted among Malaysian firms) Knowledge management in healthcare: towards ‘knowledge-driven decision- support services Abidi, (2001) International Journal of Medical Informatics Case Study (Universiti Sains Malaysia Hospital located in Kota Baharu, Malaysia) Managing human resources toward achieving knowledge management Yahya Goh, (2002) Journal of Knowledge Management Research Study (Conducted among Malaysian firms) Knowledge management in a public organization: a study on the relationship between organizational elements and the performance of knowledge transfer. Syed Ikhsan Rowland, (2004) Journal of Knowledge Management Case Study (Ministry of Entrepreneur development of Malaysia) Benchmarking knowledge management in a public organization in Malaysia Syed Ikhsan Rowland, (2004) Benchmarking: An International Journal Case Study (Ministry of Entrepreneur development of Malaysia) An empirical study of perceived importance and actual implementation of knowledge management process in the Malaysian telecommunication industry Chong Yeow, (2005) Proceedings of ICTM Research Study (Study among Malaysian telecommunication Industry KM critical success factors: A comparison of perceived importance versus implementation in Malaysian ICT companies. Chong, (2006) The Learning Organization Research Study (194 Malaysian ICT companies) KM implementation in Malaysian telecommunication industry an empirical analysis. Wei, Choy Yeow, (2006) Industrial Management Data Systems Research Study (289 employees working in Telecommunication organizations in Malaysia) KM implementation and its influence on performance: an empirical evidence from Malaysian multimedia super corridor companies Chong, (2006) Journal of Information and Knowledge Management Research Study (Study among Malaysian multimedia super corridor companies) Exploring KM issues and KM performance outcomes: empirical evidence from Malaysian multimedia super corridor companies Chong Lin (2006) International Journal of Technology Management Research Study (Study among Malaysian multimedia super corridor companies) An exploratory study on knowledge management adoption in the Malaysian Industry. Wong, (2008) International Journal of Business Information Systems Research Study (exploratory KM survey conducted in the Malaysian industry) 2.3 KNOWLEDGE MANAGEMENT IMPLEMENTATION FRAMEWORKS According to Von Krogh (1998), which he takes a business perspective stating that KMS help increase competitiveness, the purpose of implementing KMS in organizations are various. KMS leads to grater innovation and responsiveness, Hackbarth (1998). Davenport and Prusak (1998) provide three reasons why KMS are implemented in organizations which are as follows: Ø To enhance visibility of knowledge in organizations through the use of maps, hypertexts, yellow pages, directories etc. Ø To build a knowledge sharing culture i.e. create avenues for employees to share knowledge. Ø To develop a knowledge infrastructure, not confined to technology solely, rather create an environment that permits collaborative work. These three things which were proposed by Davenport and Prusak (1998) imply that KMS can support an organization in planning for and dealing with emergencies. Many organizations are still wrestling with their knowledge management and failing to realize its full potential. This is due to their lack of the support of strong theoretical foundation to guide them in its implementation (Wong Aspinwall, 2004). Unfortunately, many organizations do not have a clear knowledge management implementation plan in mind (Liebowitz, 1999). Therefore, in order for an organization to be victorious in its effort to manage knowledge, a guiding framework is essential. This is why in this part a review of diverse knowledge management implementation frameworks and models is presented. The framework consents to researchers as well as practitioners to measure the current state of knowledge management effectively and systematically. Thus, the knowledge management framework should provide not only a unified view of knowledge management phenomena but also help investigators study the field of knowledge management in an organized way. There have been few efforts to de velop a framework of knowledge management. However, none of the frameworks can provide a complete and generalized frame for knowledge management by defining fundamental attributes of knowledge management and their interrelationships because knowledge management can be viewed differently on ones background and interests (Chong, 2005). To know the exact value of knowledge management, an architecture of it, would provide the necessary understanding of different components like, knowledge management activities, knowledge management resources, knowledge management influences (Holsapple Joshi, 1997). The improvement of a framework is to follow and track the progress and maturity of knowledge management of an enterprise, so, it would serve to support the industry-wide improvement of knowledge management programs. Further more, it would provide an acceptable frame of reference for the assessment of the adequacies of an organization by government, commercial customers and prime contractors (Chong, 2005). The knowledge management frameworks can be classified under four categories (Table 2.2) Which are namely, knowledge creation framework, knowledge cycle processes of knowledge management, cases on knowledge management initiatives in industry and high-level knowledge management frameworks. Table 2.2: KM Frameworks and their examples in the literature Knowledge Management Frameworks Examples Knowledge Creation Framework Nonaka(1991, 1994), Nonaka Takeuchi (1995) Knowledge Cycle Processes of KM Bose Sugumaran (2003) Cases on KM Initiatives in Industry Apostolou Mentzas (1998), Lai chu (2002) High-Level KM Frameworks Holsapple Joshi (2002), Jarrar (2002), Wiig (1997) Nonaka and Takeuchi are tried to explain the progress and adaption between tacit and explicit knowledge. In fact, knowledge creation framework is not a knowledge management framework, the reason is, and it only deals with the creation of knowledge which is only a share of what constitutes knowledge management. Also, the knowledge cycle processes of knowledge management frameworks are providing a set of activities where the prominence is on the knowledge cycle processes or activities. They mainly address the phases of knowledge flow (from creation to application) in an organization without providing guidance on how to implement knowledge management. The framework on knowledge management initiatives in industry provide a reference to facilitate the structuring, analysis and evaluation of the knowledge management initiatives undertaken in various case companies. Lastly, High-Level knowledge management frameworks are the ones providing more detailed directions on the implementation of kn owledge management. This type of framework seems to address not only the question of what is but also how to because it prescribes and suggest ways for organizations to engage in knowledge management activities (Wong Aspinwall, 2004). In their review of literature, Wong and Aspinwall, try to have an organized review of the various available frameworks for knowledge management implementation. The acceptable thing for the review was to classify the knowledge management implementation frameworks, find out the short comings of each and finally suggesting a through guide line for developing knowledge management implementation frameworks. They have classified the high level knowledge management frameworks as frameworks such as: 1) System approach, 2) Step approach, 3) hybrid approach.(Table 2.3, 2.4, 2.5 shows the comparisons between frameworks under each approach). Table 2.3: Comparisons of system approach frameworks Source: Wong Aspinwall (2004) Holsapple Joshi (2002) Jarrar (2002) Gore Gore (1999) Wiig et al. (1997) Plan - Set strategic priority Define and understand knowledge Formulate vision Conceptualize Reflect Execute - - - Act Evaluate - - - Review Knowledge Types / resources Knowledge embedded in participants, culture, infrastructure, artifacts, purpose and strategy - Tacit Knowledge Explicit knowledge - KM processes / activities Acquire, select, internalize and use knowledge Collect, present, distribute and measure knowledge Mainly focuses on knowledge creation and externalization Develop, distribute, combine and consolidate knowledge KM influences / factors Resource influences, managerial influences, environmental influences Knowledge environment - External and internal developments ‘-, not indicated or not clearly indicated Table 2.4: Comparisons of step approach frameworks Source: Wong Aspinwall (2004) McCampbell et al. (1999) Wiig (1999) Plan Form powerful coalition Communicate vision of KM Establish teams for needs assessment Analyze the needs of KM Obtain management buy-in Survey and map the knowledge landscape Plan the knowledge strategy Create and define knowledge-related alternatives and potential initiatives Portray benefit expectations for knowledge management initiatives Set knowledge management priorities Determine key knowledge requirements Execute Identify and collect knowledge Design a technological structure Test the technology Maintenance of the technology Retest the technology Training of knowledge workers Roll out the use of KM practices Make systems go live Acquire key knowledge Create integrated knowledge transfer programs Transform, distribute and apply knowledge assets Establish and update a KM infrastructure Manage knowledge assets Construct incentive programs Coordinate KM activities and functions enterprise-wide Facilitate knowledge-focused management Evaluate Track usage Measure quality and productivity Measure the performance of KM practices Conduct a need assessment review Monitor knowledge management Knowledge type / resources Internal knowledge External knowledge Can be inferred from the step: â€Å" manage knowledge assets † KM processes / activities Identify and collect knowledge Acquire, transform, distribute and apply knowledge KM influences / factors - Can be inferred from the steps: ‘construct incentive programs and ‘facilitate knowledge-focused management ‘-, not indicated or not clearly indicated Table 2.5: Comparisons of hybrid approach frameworks Source: Wong Aspinwall (2004) Rubenstein Montano et al. (2001) Mentzas (2001) Plan Strategize, Model Awareness plan Execute Act, Transfer Develop, operate Evaluate Revise Measurement Knowledge types / resources Tacit knowledge, Explicit knowledge Knowledge assets KM processes / activities KM tasks Process KM influences / factors Culture, Strategy, learning Strategy, Structure, System By study on these knowledge frameworks creator an absolute knowledge management implementation framework may include the possible accesses on success of knowledge management. Further more, the obstacles and developers should bear in their mind that if they want to analyze managers in regard with, which elements are likely to disrupt the knowledge management implementation success and which elements may enable their effort towards knowledge management achievements. Finally, a knowledge management implementation frame work should â€Å"make a correspondence view among social and technological approach to knowledge management†. Consideration of the authors demonstrate that most of the time this correspondence is disturb in favor of one approach while the other approach is either totally neglected or received incomplete attention (Wong Aspinwall, 2004). Different types of knowledge resources are identified. The activities and processes which can help to manage them should be mentioned in the knowledge management implementation framework. As an example, there is some of knowledge management processes such as: acquiring, capturing, creating, organizing, storing, accessing, transferring, sharing, applying, distributing and using knowledge. The suggested clues by Wong and Aspinwall for developing a knowledge management implementation framework include five factors, which are as follows: (1) Incorporate a clear structure to organize the tasks. (2) Address the different knowledge resources or types. (3) Include the knowledge management processes or activities that manipulate the knowledge. (4) Point out the influences that can affect the performance of knowledge management. (5) Provide a balanced view between a technological and a social perspective. 2.4 KNOWLEDGE MANAGEMENT SYSTEMS CATEGORIZATION 2.4.1 Knowledge Management System Definition Knowledge management system (KMS), are mostly IT based systems for managing knowledge in organizations and are used for supporting, creating, capturing and disseminating of information. The main concept of knowledge management system (KMS) is to make a facility for employees to have an access to the organizations information, sources, document base facts and their solutions. As a matter of fact a knowledge management system (KMS) could be any of the following things: Ø Social computing tools which can help to create a knowledge management system (KMS). Ø Knowledge management system (KMS), assist in creating network maps in organizations which is used in communication among individuals and entities. Ø Document based, any formatted that permits, control, manage. Ø Use Artificial Intelligence (AI), for customized representation schema to demonstrate the problem domain. Further more, the benefits of using knowledge management in organization can be categorized as: 1. Valuable organizational data and information sharing. 2. Reduce redundant work. 3. Decrease time for new incomers like new employees. 4. Retention of intellectual property. Based on this definition Gupta and Sharma (2004) divide knowledge management system into seven major categories, which are as follows (tables 2.6): Table 2.6: Example of KMS Source: Gupta and Sharma (2004) KMS Technology Description Expert Systems, artificial intelligence and knowledge based management system (KBMS) Main purpose of these systems is to capture knowledge and perform analysis on existing knowledge base to assist in decision making. Often associated to rule based and pattern recognition systems. Computer Supported Collaborative Work (Groupware) Systems that permit sharing and collaborative work. Often described synonymously to Lotus Notes. However, one could suggest that asynchronous (e-mail, wikis e-log) and synchronous systems (videoconference, chat) are newer applications that can fall into this category (Bates and Poole, 2003). Groupware can also include Group Support Systems (GSS) that is intended to support groups make decision (Mandviwalla, 1994). Document Management Systems Systems that support the need for managing text and images to make information much more accessible. Similar to the idea of office management systems i.e. use of various word documentation and spreadsheet software. Decision support systems (DSS) Business applications that usually contain summaries of large amounts of data, filtered and synthesized particularly to support strategic decision-making. View records related to this term5. The focus of DSS is on analysis of quantitative data and presentation tools for managers. Semantic Networks The focus is on systems that explain not just relationships between entities but the meaning based on how the entities are structured. Can be used to â€Å"represent domain knowledge explicitly and shared† (Gupta and Sharma, 2004). Relational and Object oriented databases Systems that permit management of both structured (relational) and much more complex data sets (OODBMS) Simulation tools Systems that run computer based simulations for a variety of purposes. 2.4.2 Knowledge Management Architecture Base on Gupta and Sharma (2004) findings, they suggest architecture for knowledge management which has seven levels and it is shown in table 2.7. Table 2.7: Overview of Knowledge Management Architecture Source: Form Gupta, Sharma Hsu (2004) Level Key Activities Customer Knowledge Detailed, knowledge sharing relationships. Understanding the requirements of customers. Identifying new opportunities. Stakeholder Relationships Becoming a better knowledge flows among suppliers, shareholders, employees, community, etc. Use this knowledge to inform key points strategies. Business Environment Insights Systematic environmental scanning including political, economic, technology, social and environmental trends. Competitor analysis. Market intelligence systems. Organizational Memory Knowledge sharing. Best practice databases. Directories of expertise. Online documents, procedures and discussion forums. Intranets. Knowledge in Processes Embedding knowledge into business processes and management. Decision-making. Knowledge in Products and Services Knowledge embedded in products. Surround products with knowledge, e.g., in user guides, and enhanced knowledge intensive services. Knowledge in People Knowledge-sharing fairs. Innovation workshops. Expert and learning networks. Communities of knowledge practice. As it shows above there is a seven layer for knowledge management architecture and each level related to a particular aspect of knowledge management. So, in this regard there is a summarization for this table which summarize the important part of this layers and compact it in just three layers, it is summarized in table 2.8 as follows: Table 2.8: Knowledge Management Architecture Source: Gupta, Sharma Hsu (2004) Layer Level Brief Explanation Data Sources layer According to different data sources which are accessible within organizations, this layer has both internal and external data sources. As an example, data repository, email repository, databases. Knowledge Management Layer The processes of knowledge management layer include acquisition, refinement, storage, retrieval, distribution and presentation of required knowledge. An example would be a knowledge base which assists decision making processes during an emergency situation. Knowledge Presentation Layer This layer represents the interface that forms the basis of interaction between users and the system. This can be called a knowledge portal that can guide decision making in dealing with an emergency situation. The knowledge portal can be designed to support communication, collaboration and information sharing requirement. There is two more explanation in detailed view for knowledge management architecture and knowledge management process model. The most important part in knowledge management architecture and knowledge management process are capturing knowledge, create a new knowledge, share it and distribute it as it is shown in 2.1 and 2.2. 2.4.3 Performance of Information Technology (IT) in Knowledge Management System (KMS) Information Technology (IT), plays an important role in acquire, store, disseminate and manage knowledge than ever before. Alavi and Leidner (2001), proposed an admired framework, which can be used to analyze and test the role of Information technology (IT) in design and fulfillment of any Knowledge Management System (KMS). The table (2.9) which is adapted from Alavi and Leidner (2001), shows the different perspectives of knowledge management initiatives and knowledge management system (KMS), design particularly. Table 2.9: Knowledge Perspective and impact on KM and KMS Source: Alavi and Leidner (2001, p.11) Perspective Meaning Implication for KM Impact on KMS Role in IT Knowledge vis-à  -vis data and information Data is consider as a fact, raw numbers, information is processed/ contextual data/ interpreted data knowledge is personalized information e.g this would entail once experience and exposure. KM initiative should expose employees to relevant information and facilitate assimilation of information. KMS may not necessarily be different from an existing information system. The differences are that any KMS should help employees assimilate the information. Role of IT is to ensure KMS design permits information assimilation. Knowledge as a state of the mind Knowledge is ones state of knowing and understanding. KM initiative should provide an information base that enables individuals to recognize the existence of knowledge. This can enhance individual learning and understanding. Accessibility to where knowledge resides rather than to knowledge itself- i.e. provide a means to an end. This would include web and wireless access to knowledge base. Knowledge as an object Knowledge that is stored and subject to manipulation. KM initiative should permit development and management of knowledge base. IT can support KMS to gather, store, and disseminate knowledge. This would include the use collaborative tools e.g. wikis. Knowledge as a process Knowledge visualized as a process of applying expertise. KM initiative should focus on effective flow of knowledge within the realms of knowledge creation, sharing and dissemination. by providing links to various knowledge sources which includes internal and external sources. This would include use of web based systems, hyperlinks, markup languages and access to databases. The idea is to offer a wider breadth and depth of knowledge flows Knowledge and accessibility to information Knowledge is a condition of access to information. KM initiative should provide ease of access to and retrieval of content in a given system. IT can be used to enhance indexing, query and locating relevant information. Knowledge as a capability As a capability knowledge has the potential to influence action. KM initiative should focus on developing core competencies and understanding the strategic intent of the initiative. It can increase the intellectual capital through development of individual and organizational competencies. Table 2.9 proposed that Information technology plays an important role in knowledge management initiatives in organizations. Alavi and Leidner (2001) defined a knowledge management system (KMS) as IT- based system develop to support and enhance the organizational processes of knowledge creation. They observe that not all knowledge management initiatives will implement an IT solution, but they support IT as an enabler of knowledge management (Raman, M. Muthaiyah, S.). In addition, knowledge management system (KMS) can assist organizations in dealing with dynamic and complex situations such as emergencies (Gupta Sharma, 2004). 2.4.4 Appropriate Theories to Knowledge Management Systems (KMS) This part consists of two theories which can help to design and implement decisions of any knowledge management systems (KMS) to support knowledge management in organizations. Those mentioned theories are, Information Processing Theory (IPT), and, Contingency Theory. 2.4.4.1 Information Processing Theory (IPT) George A. Miller (1956), has afforded two theoretical ideas which are the basic concepts of the information processing framework and cognitive psychology. The first approach is â€Å"chunking† and the capacity of short term memory. He insists that short term memory can get just 5-9 chunks of information (seven plus or minus two). A chunk could refer to digits, words, peoples faces or any other meaningful units. The second idea which Miller was mentioned is people process information akin to a computerized system. They take input into the memory like the computer, then the human minds take the information, analyze it, store the content and locate it in the best situation of memory and then retrieve as and when needed based on the given situation. In this context, Burnell (2004), state that:†As diversity of resources, processes or outputs increase inter process coordination requirements and system complexity increase. As uncertainty increases, information processing requirements increases become of managements inability to predict every situation.† Information processing theory is widely applied in the study of human learning and cognitive styles (Miller, 1960). As a matter of fact Information Processing Theory (IPT) has some principles which are often applied by instructors for the following reasons: Ø Gain the students attention Ø Point out important and critical chunks of information, separating them from trivial ones. Ø Provide opportunities for students in linking new to existing information. Ø Presenting information in clear manner. Ø Emphasize on meaning of information i.e. not memorizing them. Actually, those mentioned principles for information processing theory can be applied to design of knowledge management system (KMS) to support emergency preparedness as well (Kostman, 2004). Particularly, in approaching emergency situations, knowledge management system can be elaborated to enable decision makers to: Ø Retrieve information that is critical, quickly. Ø Focus on the situation without being loss amidst voluminous information. Ø Create and share a knowledge base by linking past experience to existing information base. Ø Structure emergency related information clearly. Ø Understand different meaning and interpretation of critical terminology used in dealing with an emergency. 2.4.4.2 Contingency Theory Contingency theory was founded by Lawrence and Lorsch (1967), in the study of ten firms in plastic, food, containers, which are three different i

Dali :: Essays Papers

Dali Spanish painter. Born into a middle-class family, he studied at the Academy of Fine Arts in Madrid, where he mastered academic techniques. Dalà ­ also pursued his personal interest in Cubism and Futurism and was expelled from the academy for indiscipline in 1923. He formed friendships with Lorca and Buà ±uel, read Freud with enthusiasm and held his first one-man show in Barcelona (1925), where he exhibited a number of seascapes. He wrote the screenplay for Buà ±uel's Un Chien Andalou (produced in 1928), largely thanks to which he was adopted by the Surrealists. In Paris he met Picasso and Breton, and his involvement from 1929 onwards, his effervescent activity, his flair for getting publicity through scandal and his vivacity which counterbalanced the political difficulties encountered by the group, made him a particularly welcome addition. "Over the next few years Dalà ­ devoted himself with passionate intensity to developing his method, which he described as 'paranoiac-critical', a 'spontaneous method of irrational knowledge based on the critical and systematic objectivation of delirious associations and interpretations'. It enabled him to demonstrate his personal obsessions and fantasies by uncovering and meticulously fashioning hidden forms within pre-existing ones, either randomly selected (postcards, beach scenes, photographic enlargements) or of an accepted artistic canon (canvases by Millet, for example). It was at this period that he was producing works like The Lugubrious Game (1929), The Persistence of Memory (1931) and Surrealist Objects, Gauges of Instantaneous Memory (1932). Flaccid shapes, anamorphoses and double-sided figures producing a trompe-l'Å“il effect combine in these works to create an extraordinary universe where the erotic and the scatological jostle with a fascination for decay - a univers e that is reflected in his other works of this period, including his symbolic objects and poems (La Femme visible, 1930; L'Amour et la mà ©moire, 1931) as well as the screenplay for L'Age d'Or (1930). "It soon became apparent, however, that there was an inherent contradiction in Dalà ­'s approach between what he himself described as 'critical paranoia' - which lent itself to systematic interpretation - and the element of automatism upon which his method depended. Breton soon had misgivings about Dalà ­'s monsters which only lend themselves to a limited, univocal reading. Dalà ­'s extreme statements on political matters, in particular his fascination for Hitler, struck a false note in the context of the Surrealist ethic and his relations with the rest of the group became increasingly strained after 1934. The break finally came when the painter declared his support for Franco in 1939.

Blue Nile Case Study

Blue Nile Case Study Cristeen McPherson Student Number 326914 BUSA 506 Dr Terry Power November 11, 2012 1) The competitive forces confronting Blue Nile and other online retail jewellers are medium or weak in strength, with the exception of the strong rivalry between sellers. The potential for new entrants to the jewellery market is relatively low due to the high costs of inventory, the lack of differentiation of product and the brand recognition held by the industry leaders. Good substitute products for a quality diamonds are not readily available.There are synthetic gemstones, cubic zirconium and other jewellery options, but the general consumer does not see these as a true substitute for real diamonds. Supplier bargaining power is a mixture of strong and weak factors leaving this force with a medium impact on the industry. The diamond supply industry is more concentrated than the retailers but is having new entrants emerging. Like the Canadian diamond producers Ekati in 1998, Diavi k in 2003, Jericho in 2006 and Snap Lake-4 in 2007 making Canada now the third largest diamond producer in the world. 1] Two factors contributing to a stronger supplier power are that products are critical to the retailers’ success and there is a lack of good substitute products. In contrast, the commodity trading or buying process for diamonds contributes to a weaker supplier power as retailers have easy ability and low costs to switch suppliers. Industry members are also now integrating backwards into the supply of the product, Diavik mine is a joint venture between Rio Tinto and Harry Winston Diamond Corporation and the De Beers Group owns the Snap Lake-4 mine. [2] Buyer bargaining power is moderately strong due to: Low costs of switching between retailers ? Lack of differentiation of product between retailers – differentiation is more on quality provided than the style or presentation of the product ? Large and diverse consumer base ? Buyers ability to be well info rmed on product; information on quality, prices and costs is growing due to internet accessibility ? Buyers are price sensitive The strongest force is the rivalry between the competing retail sellers. Factors affecting competing rivalry: ? Buyer demand is growing slowly – jewellery market is mature, with a broad range of consumers ?Buyer demand had fallen off in recent years due to recession – many sellers found themselves with slow moving inventory ? Buyer costs to switch brands is low – the buyer has no costs to switch to another online retailer, it’s just a mouse click ? Products are weakly differentiated – diamonds and jewellery are similar offerings between the sellers ? High fixed or storage costs – the bricks and mortar (b&m) retailers and many of the online retailers have high inventory costs, which when not turning incur carrying costs (interest etc) negatively impacting cash flow and earnings ?High exit costs – the high inve ntory costs make it difficult to liquidate quickly ? Competitors are numerous – and diverse in their value proposition, with low value, high volume retailers like Walmart as well as high end prestigious retailers like Tiffany & Co. 2) Some key success factors that will affect the online jewellery retailers in the near future: Fine jewellery buyers are looking for a retailer that offers quality product at a competitive price. Retailers must rely on their brand recognition with consumers; they need to build awareness of their product offerings as well as their customer service.Retailers must prove they are reputable, reliable and trustworthy. Online retailers have to express this through capturing their online audience with an easy to navigate website, appealing to their emotional response and showing other consumers satisfaction and confidence with past purchases. Jewellery retailers must be able to provide exceptional customer service and support. Major purchases of jewellery items, especially a diamond engagement ring, are very emotional to the purchaser. Customer service that acknowledges the significance of the purchase and guides the purchaser hrough the transaction will be a necessity for success and gaining consumer loyalty. With the high costs of inventory, retailers need to manage costs of inventory and operations, keeping costs in line with sales and managing cash flow is a key capability for success. A successful retailer is able to match inventory purchases with their consumer sales at a similar rate, maintaining inventory turnover and cash flow through the business. Not updating and maintaining their awareness and a high level of market knowledge will put a retailer at a significant competitive disadvantage.If they are not recognizing the market trends, striving to achieve some product differentiation and preparing to meet customer needs and wants, they will fall behind and lose customer loyalty, sales and market share. 3) Blue Nile is emplo ying a best-cost provider strategy as their competitive approach in the online jewellery business. Their aim is to create competitive advantage by offering a quality product at a competitive price. Blue Nile is able to do this through their supplier agreements where the diamonds and other gems are not actually purchased by Blue Nile until they have a consumer order for that particular product.This limits Blue Nile’s exposure on inventory costs and the risk of non-selling product. Blue Nile also relies on strict control of their operating costs; expenses for employees, facilities and technology are continuously reviewed to ensure their efficiency and that low costs are maintained. These two components combine to allow Blue Nile to offer comparable quality jewellery at substantially lower prices than their competitors. 4) Blue Nile has a very deep and keen knowledge of their customer and market.This enables them to tailor their website to their customers’ needs, offer su perior service and educational aspects for the consumer, effectively establishing trust with their consumers. This knowledge also gave them the ability to strike very good supply agreements with multiple providers for the quality product they sell online. Many of the diamonds and other jewellery are only available via Blue Nile because of their exclusive supply contracts. In order to remain competitive, Blue Nile must be diligent in maintaining and updating their market knowledge.The ability to accurately predict market trends and proactively alter business strategy is vital to ongoing success. For instance, many of the online retailers are currently relying on their educational information to garner the customers trust and loyalty. With every retailer working to increase the knowledge of the consumer, this strategy will lose effectiveness over time as the consumer becomes more knowledgeable. The ease of switching retailers is very high and Blue Nile must be ready to offer another c ompelling reason to remain loyal.Blue Nile must also be aware of any changes in their suppliers and the diamond market, if new diamond suppliers reach similar supply agreements with any of Blue Nile’s competitors, they may lose their supply chain advantage and risk significant increases in inventory costs. 5) SWOT Analysis – Blue Nile – Table 1 [pic] Although Blue Nile has many company strengths that propel their current success, the many competitors in the online and b&m jewellery industry have many of the same strengths.Blue Nile needs to improve and expand their marketing campaign and strengthen their brand recognition. They also need to develop a program to offer more product differentiation. One suggestion to incorporate both these needs might be to develop a strategic alliance with a well-known jewellery designer and offer custom design service online using the designer name and reputation. 6) Blue Nile posted exceptional double-digit sales growth over the six years 2002-2007, the recession of 2008 interrupted their growth trend actualizing a 7. % loss on sales year over year. They have since achieved moderate sales increases ranging from 2. 3% to 10. 18%. Blue Nile shows a steady gross margin averaging about 21. 7% over the last ten years. They also show very steady levels of selling, general and administrative expenses that have a slight increase each year most likely due to inflation of salaries and input costs. Consequently, their EBT margin is also very healthy, averaging 7. 0% earnings return on sales. Blue Nile has large cash reserves and very little long-term iabilities, their liquidity ratios are very healthy. Their current ratio averages 1. 5:1 over the last ten years. With their cost control and supply chain management, Blue Nile has very positive results for the performance/efficiency ratios. Their cash conversion is excellent due to the payables terms of supplier agreements; they have a positive cash float of about 40 da ys from the collection of sales revenue to the payment for goods. 7) Weighted Competitive Strength Assessment – Table 2 Blue Nile does have enough strength to remain competitive against its rivals.Their main rival based on pricing, quality and market knowledge is JamesAllen. com. Blue Nile is the strongest in terms of cost control and inventory control/supply chain management. Currently Blue Nile does have a sustainable competitive advantage over its rivals. Their product offerings are very similar, as are their websites and customer service policies, but Blue Nile’s cost control is far superior giving the advantage of greater efficiency and lower costs as compared to the other online retailers. ) In order to develop a more sustainable competitive advantage; Blue Nile will need to use their market knowledge to develop a stronger marketing plan to drive their brand recognition, product differentiation and develop greater customer loyalty. Blue Nile also needs to address the future erosion of market share due to the growing strength of competitors, and the potential of the loss on exclusivity from their product suppliers. 9) Recommendations: [pic] The components of the marketing plan and the strategic alliance with a jewellery designer fit together very well and should be quite easy and quick for Blue Nile to develop and execute.The value that would be seen via the increased brand recognition, customer loyalty and product differentiation would increase their competitive strength and be sustainable for the near future. Blue Nile’s current geographic expansion has shown success, continued expansion will need to be founded on research into the jewellery customs of target locations, to use the website’s appeal to the emotional purchase of jewellery. Low costs of online expansion are advantageous, while care must be taken to ensure language and culture are respected.Selective expansion will help to retain competitive advantage for the medi um range future and grow market share internationally. With their keen market knowledge, Blue Nile is positioned to take advantage of the weaker competitors in their market and secure market share growth for the mid range future via acquisitions. The potential to acquire a competitor would take longer to evaluate completely but is still a viable option to gain large portions of market share and increased sales.Blue Nile does have positive cash flow, good cash reserves and available credit facility to use to accomplish the acquisition. While the strategic alliance with a diamond producer/mine would secure long-term guarantees of the supply of quality, exclusive product at very competitive costs, the timeline to complete such a project is lengthy. The cost could also be prohibitive to Blue Nile at this point in time. The potential for long-term sustainable competitive advantage is most beneficial with this strategy and Blue Nile should not rule this option out as a future long-term go al.Bibliography: CBC News, ‘Canada’s Diamond Rush’, http://www. cbc. ca/news/background/diamonds/, Last Updated September 20, 2007, accessed November 9, 2012 Case 9, ‘Blue Nile Inc. in 2010†¦. ’ Thompson, Arthur A. , Strickland, A. J. & Gamble, John E. (2012). Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases(18th ed. ). New York: McGraw-Hill Irwin Power, Terrance P. (2008). Power’s Case Study Analysis and Writers’ Handbook. Toronto: Nelson. Appendices: Current Strategic Group Map High | | | |Price/Quality | | | |Low |Few Locations |Geographic Coverage |Many Locations | Market Share Chart for Top 20 Jewellery Retailers [pic] Financial Information Growth Profitability and Financial Ratios for Blue Nile, Inc. | | | | | | | | |Financials | | | | Ratios downloaded November 9, 2012 | | | | | | | | | | | ———————– [1] CBC News, ‘Canadaâ₠¬â„¢s Diamond Rush’, http://www. cbc. ca/news/background/diamonds/, Last Updated September 20, 2007, accessed November 9, 2012 [2] Ibid ———————– WalmartSterling Jewelers Zale Corporation Costco, Target Blue Nile QVC, Sears, JC Penney, Fred Meyer Jewelry TV, HSN Macy’s East & West, Neiman Marcus Cartier Tiffany & Co. Walmart, 4. 83% Sterling, 4. 17% Zales, 2. 83% Tiffany & Co, 2. 50% QVC, 2. 33% Sears, 1. 50% JCPenney, 1. 50% Finlay Fine Jewelry, 1. 50% Macy's East, 1. 00% Neiman Marcus, 1. 00% Costco, 0. 83% Target, 0. 83% Fred Meyer Jewelers, 0. 67% Helzberg Diamond, 0. 67% Jewelry Television, 0. 67% Macy's West, 0. 67% Tourneau, 0. 67% Cartier, 0. 50% Blue Nile, 0. 50% HSN, 0. 50%

ECPE Essay about single parrent families Essay

The Family structure has changed significantly in the last fifty years. With higher percentages of marriage ending in divorce, and higher rates of childbearing out of wedlock, single parent families are increasing rapidly. Seventy percent of all the children will spend the all or part of their lives in a single-parent household. Studies have shown that the children of these families are affected dramatically, both negatively and positively. It is never a childs decision to only live with one parent. There are many ways that single-parent homes occur. Some of these ways include unplanned pregnancy, divorce, the decision to be a single parent by choice, and death of a spouse. In every case families are disputed greatly. Parents might experience depression, emotional problems etc. but the child is affected the most. It is ideal for a child to be living with both parents for many reasons that will affect the child’s emotional development. Even if the parent living away from the child visits often it does not make up for times where the child might have needed the parent. Lack of parental involvement can harm the child in many ways. With less parental influence in single parent homes the children might experience difficulty in school. With a grasp of a healthy marriage of their parents, children might have problems later in life with holding a job and having strong healthy relationships themselves. Studies have shown that children coming from a disrupted family significantly increases a young adult’s risk of experiencing social, emotional or academic difficulties. Aside from all the negative things a child growing up in a single-parent family might face the child will become more independent and responsible at an earlier age. Being forced at an early age to have more household responsibilities helps children later in life to be mature and make decisions for his/herself. Learning skills early can be applied to them later in life. The children also have higher self-esteem, because they that they are capable of facing problems, and taking on tasks. They know that they can’t rely on both parents to meet all their needs. Even though the ideal family is a dual family, children living in a single-parent home might face problems financially and economically which doesn’t mean they can fare off as well rounded adults later in life. As long as there are the established kinds of basic support given to the child, we do not need to target mothers or fathers for the breakdown of society. Every type of family has faced problems. As long as we acknowledge parents struggle to fight for their best for the kids and accept that they are not perfect.