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Leadership Concepts Worksheet
Concept Application of Concept in the Scenario or Simulation Reference to Concept in Reading
Knowledge Management
Gene One’s goal is in three years to realize 40% growth targets, raise capital, and develop new products in the biotech sector. The leadership team identified these goals in a proposal to the board. The team is trying to make the company a success by succeeding in the public entity. The only issue is no one knows how to implement an IPO bringing the company to try and recruit people in the financial sector whom dealt with IPO’s. The company is also using the knowledge that the team already has and educate themselves on IPO’s, because they have competent operators and they have the free will to apply his or her knowledge in anyway.
“The company uses two applications of the knowledge management process. Those are knowledge acquisition and knowledge use. Knowledge acquisition includes the organization's ability to extract information and ideas from its environment as well as through insight. One of the fastest and most powerful ways to acquire knowledge is through grafting —hiring individuals or acquiring entire companies. Knowledge use is acquiring and sharing knowledge are wasted exercises unless knowledge is effectively put to use. To do this, employees must realize that the knowledge is available and that they have enough freedom to apply it” (McShane & Von Gilnow, 2005, p.83-86).
“Knowledge management is any structured activity that improves an organization's capacity to acquire, share, and use knowledge in ways that improve its survival and success” (McShane &am ...