Knowledge Management Systems and Applications (Ise3005)

Q. 1. What are the characteristics of a Knowledge-based Economy (KBE)? How is Knowledge Work different from other types of work and what are the key skills and competencies needed for knowledge workers?

Ans: Knowledge-based Economy (KBE) is a term to describe an advanced economy focused on greater production and management of knowledge, information and high skill levels [1]. It differs from traditional economy and other types of work in the following several characteristics:

Abundant knowledge and information resource

Development of economies is infinite and requires abundant elements and resources. However, scarcities occur in most of resources (e.g capitals, human power) and cause limitations to the development of economies. Knowledge and information used in knowledge-based economy can be created and shared during the application and development without depletion. In addition, knowledge and information can be accumulated and processed into higher economic values used in economic development.

Diffusion of knowledge and information

Material resources in traditional economies are usually restricted in the private use and limited stakeholders ( creator and owner). However, by selling or licensing the knowledge and information to a larger number group of user, the diffusion of knowledge can become borderless in knowledge-based economy. Information and knowledge travel more effortlessly than material resources and money, so that they become available for everyone to be acquired easily.

Q. 2. Highlight the various roles Knowledge Management Systems play in an organization. Give examples and/or cite case(s) to substantiate your answer.

Ans: Knowledge Management Systems (KMS) are information systems designed for assisting the integration and sharing of knowledge within organizations. It takes places from strategic to executive and operational level inside organization. With increasing overload of data, Knowledge Management System becomes more important to the...