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Knowledge is one of the foremost vital and important things within the world which has a tremendous undetectable control to form human society and alter quick changes to the way of life, thinking and survival.
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Knowledge is one of the foremost vital and important things within the world which has a tremendous undetectable control to form human society and alter quick changes to the way of life, thinking and survival. Knowledge will never halt changing and will continue to assist changes to life and improve individuals. (merriam-Webster 2021).
Knowledge can be acquired in so many ways, from friends, family, Tv, Internet, from a teacher and from an expert. There are two type of knowledge Explicit knowledge and Tacit knowledge.
Explicit knowledge is expressed through numbers, word, image, documents, and newspaper, it is easy to transfer, share and communicate, such as company introduction or contract.
Tacit knowledge is knowledge that exist in individuals head and it’s very hard to explain or share.
Knowledge forms the top level of hierarchy, while information makes the middle ground and data being the lowest level of hierarchy.
However, when knowledge is captured, processed, and organized for intellectual use it is called Knowledge management. Creating knowledge, use of knowledge, maintaining knowledge (store, preserve) these are the form of knowledge management Organization use to share and know information. These can help to create an organizational culture, understand the law of the land, give competitive edge, and enhance profit.
This report will look at how Amazon implements knowledge management (KM) principles and practices to add important value for their customers and in return drives profit for Amazon faster than any competitors and certifying Amazon as the e-commerce giant. Some key knowledge management theories relating this report such as the Seci model, the Choo sense making model and the Nonaka’s tacit and explicit conversion and decision-making model will be critically analyze and will underpin the report. This report will critically analyze and demonstrate, how the significance of understanding that the viable creation, putting away, sharing, application and integration of data is a important prerequisite for great knowledge management development practices. This report will analyze how internal and external factors have improve revenue greatly for Amazon during this current climate.
At last, the report will discuss what Amazon’s potential knowledge management challenges are and offer suggestions to fortify their knowledge management.