MGMT20144 Management And Business Context 4

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03-09-2020

Question:

Task

Groups will be provided with information about a specific business organisation in class, or via consultation with the unit coordinator for distance students. A minimum of 12-16 academic sources must be used to further research and investigate the business organisation and one of the three contextual factors discussed in weeks 9-11. You are to assess the impact of the chosen contextual factor, identify the critical issues and generate a series of appropriate recommendations that will enhance the performance of the specific business organisation.

The contextual factors you can choose from for your presentation are:

Governance and legal requirements OR
Innovation and Entrepreneurship OR
Knowledge Management and eCommerce

This is a group task that requires you to record a formal presentation of not more than 20 minutes in length.

Students are to demonstrate knowledge of the subject matter by:

Defining relevant terms, theories and concepts presented
Utilising the specific contextual factor, explaining key details and assessing its impact on the relevant business organisation
Displaying an ability to develop appropriate recommendations to improve the performance of the business organisation
Developing a concise and structured presentation with introduction, main presentation, conclusion and recommendations
Effectively using audio visual and verbal communication delivered within the allocated time to expected professional standards
Demonstrating a breadth and quality of research by using a minimum of 12-16 academic sources referenced in the APA style
Collaborating and working effectively as a member of a team.

These are the minimum requirements. Students should note that only satisfactorily meeting the minimum requirements will typically only result in the minimum pass grade being awarded. Higher grades will be awarded to students who go beyond these minimum requirements.

Answer:

KNOWLEDGE MANAGEMENT AND E-COMMERCE

Introduction

Knowledge management is a concept which should be considered in any organization, in this case, H & M Brand.

For any organization to be competitive, effective output, as well as cost optimization, should be conducted for the survival of the H & M Brand. The institution should focus on establishing better associations with the customers hence should be trustworthy and reliable.

Due to trust and reliability, The H & M Brand will create a positive outlook of the institution. Knowledge management relates to E-commerce since it involves services and product delivery using a digital channel (Wheelen, Hunger, Hoffman, & Bamford, 2017).

E-commerce is used as equipment to issue services associated with knowledge by sharing, transferring, and storing it.

Therefore, this presentation focuses on the analysis of knowledge management and E-commerce, embracing a professional consultant’s advice to the manager of H & M Brand (Kew & Stredwick, J2016). Also, it demonstrates how the knowledge has been used in the H & M Brand.

Definitions

In simple words, knowledge management is defined as the extent to which any organization succeeds based on things which portray how individuals create and share knowledge within the institution using appropriate techniques.

Knowledge is defined as the feelings, facts, experiences which individuals adopt hence results in establishing relations and recognizing consequences (Carroll & Buchholtz, 2014).

The knowledge economy is referred to as the economy which growth occurs based on quality, quantity, and accessibility of the available information.

Other concepts which are used in knowledge management and e-commerce are people, processes, and technology.

For instance, people make the H & M brand culture which constitutes behaviors and values.

Clearly, knowledge management support knowledge sharing hence people are motivated due to knowledge sharing. In the case of processes, they facilitate the improvement of knowledge (García-Álvarez, 2015). Organizations should consider processes for proper organizational structure. Therefore, effective processes should be adopted to support individuals in sharing knowledge.

Definitions of Theories

There are major theories which are used in knowledge management and E-commerce as outlined in this presentation.

To start with, Bukowitz and Williams presented a KM process theory which shows processes defining management strategies through the building and enhancing knowledge assets (Van , La Rosa & Santoro, 2016). Therefore, this theory indicates guidelines based on knowledge implementation through four steps.

The holistic theory explains knowledge as a communal construct with three related factors which are effectual knowledge, perceptual, and conceptual.

Contextual Factor

Contextual factors which include the social, political, technological, environmental, and organizational have various impacts on knowledge management and E-commerce as discussed in this presentation.

Based on technology, it has the most significant impact especially on implementation and adoption of knowledge management. Managers need to invest a lot of time on technology to help the organization move towards the knowledge world (Aghamirian, Dorri & Aghamirian, 2015).

The contextual factor facilitates understanding of knowledge management diffusion and the effects on an institution.

In particular, the political and social-cultural factors have external impacts on the policies associated with knowledge management and E-commerce.

Many individuals perceive that knowledge management revolves around technology since it is used in linking persons through e-mail, intranet, and compiling data in the databases.

Basically, the significant misconception is that technology acts as a catalyst for the knowledge management.

However, technology is not the major solution though it should be adopted in institutions since it enhances people associations and processes (Liu, Shang & Lai, 2015).

Recommendations

This presentation develops various recommendations for H & M Brand to improve its performance. Based on Davenport and Dyche (2013), there exist several technologies such as the big data which facilitates the creation of cost reduction, hence leading to significant improvements when employed in business institutions to perform tasks.

H & M Brand should adopt the big data technologies since they will provide understanding based on new products and services development. The Big data technologies support business in decision-making.

The big data technologies are recommended for institutions since they can lead towards achieving various organizational objectives.

Additionally, the technologies contribute to the initiative which guides the management of projects in the organization.

Based on e-commerce, the H & M Brand should adopt a cross-border barometer that would help in examining the challenges which online merchants experience when widening the borders.

The e-commerce policymakers are recommended to assist the initiatives in the market, to eliminate the unnecessary regulations.

Any initiative should use the evidence-based technique to focus on endless discussions on the geo-blocking and platforms duties (Chaffey, 2015). The e-commerce market diversity can be seen based on the main activities such as products and services.

Therefore, the company should adopt policies or solutions which can facilitate development of the cross borders.

Impacts of the Contextual Factor on H & M Brand

After assessing technology which is the main contextual factor discussed in this presentations, its major impacts on the H&M brand are outlined.

The H&M brand adopts strategies which are cost-effective such as the recycling programme which ensures there is no wastage of garments in the institution (Kaivo-oja, Virtanen, Jalonen & Stenvall, 2015).

A sustainability team is set which has confidence and focus on consumer interests based on fashion hence can meet their expectations.

Through technology, the organization ensures a clean and safe environment which attracts most consumers. Technology facilitates innovation which is viewed as an added value based on competitiveness and productivity of the H&M brand.

Conclusion

To summarize, this presentation demonstrates the understanding of knowledge management and e-commerce based on the H &M Brand.

Various theories and models are explored through the analysis of the H & M Brand.

At the same time, this presentation offers solutions towards improving the brand’s performance. There are various contextual factors which may impact the operations of the Brand though this presentation focuses on the technological factor which is mainly discussed in the syllabus.

This presentation also offers recommendations to improve the H & M brand performance. Clearly, knowledge management and e-commerce should be considered in the organizational programmes in both the connecting and collecting perspective

References

Van Der Aalst, W. M., La Rosa, M., & Santoro, F. M. (2016). Business process management.

Kew, J., & Stredwick, J. (2016). Human resource management in a business context. Kogan Page Publishers.

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. pearson.

Carroll, A., & Buchholtz, A. (2014). Business and society: Ethics, sustainability, and stakeholder management. Nelson Education.

García-Álvarez, M. T. (2015). Analysis of the effects of ICTs in knowledge management and innovation: The case of Zara Group. Computers in Human Behavior, 51, 994-1002.

Aghamirian, B., Dorri, B., & Aghamirian, B. (2015). Customer knowledge management application in gaining organization's competitive advantage in electronic commerce. Journal of theoretical and applied electronic commerce research, 10(1), 63-78.

Tseng, S. M. (2016). The effect of knowledge management capability and customer knowledge gaps on corporate performance. Journal of Enterprise Information Management, 29(1), 51-71.

Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.

García-Álvarez, M. T. (2015). Analysis of the effects of ICTs in knowledge management and innovation: The case of Zara Group. Computers in Human Behavior, 51, 994-1002.

Tseng, S. M. (2016). The effect of knowledge management capability and customer knowledge gaps on corporate performance. Journal of Enterprise Information Management, 29(1), 51-71.

Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.

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