Knowledge Management and Information Strategy Coursework

Knowledge Management and Information Strategy - Coursework Example A review of literature on the factors that influence success and failure of Knowledge Management Systems (KMS) implementation projects is conducted. This is followed by a summary of the crucial managerial and technological factors that support a successful performance of KMS implementation project. To understand this issue better, the paper derives qualitative data on National Thermal Power Corporation (NTPC) related to the subject matter. NTPC is an Indian power generation company and it is one example of firms that have implemented KMS recently. Content analysis is applied on the data and a detailed outline of the implementation approach undertaken by this company is given. The challenges encountered during the process, the technology adopted and the benefits derived from the project are also examined. The analysis of this company finds that the KMS project has encountered numerous challenges and its return to the company can be termed as average. It emerged that some of the challe nges have emerged from failure to incorporate some of the crucial factors in the implementation process such as the use of motivational aids. The company needs to incorporate all crucial factors in the implementation process and to find strategies to minimize or overcome the challenges in order to increase value of the project. With the rapidly changing business world organizations are finding it necessary to leverage on KM in a way that any new knowledge is shared across the organization and stored for future use. The concept has gained prominence since the mid 1990s following the work of Peter Drucker. Knowledge is being viewed as a key resource in business for economic growth by developing a competitive edge. Fernandez and Sabherwal (2010, p. 56) defined KM as doing what is needed to get the most out of knowledge resources. KM involves enhancing knowledge creation and sharing it within organization and