The Knowledge Management Challenge Assignment Example | Topics and Well Written Essays - 1500 words

The Knowledge Management Challenge - Assignment Example These three types of knowledge are what form the intellectual capital that is needed by PolySpec as it evolves. (1) Internal process knowledge related to PolySpec work processes This includes the trade secrets of the company such as patents and technical papers, the composition of the products especially the ratio of combinations, acquisitions, and their competitive advantages, blueprints and formulas. This is in addition to the internal operations and communications of the company that is not open to the public such as confidential conversations and documents. For example, Buddy holds four patents, has published several technical papers and he has hands-on management style (Fielder, et al n.d, P.2). PolySpec has made several acquisitions including Selby Battersby, Thiokol Formulated Products, and Flowcrete Plc (UK) with each merger bringing in new competitive advantage and products (Fielder, et al n.d, P.2). ... (2) External process knowledge related to client tasks and projects This includes the knowledge of upcoming disputes regarding clients’ quality of workmanship, technical assistance to contractors, claims of mislabeled products, and product failures related to job conditions. For example, PolySpec technical personnel provide most of the technical support through informal ways such as telephone conversations (Fielder, et al n.d, P.1). Also, the following litigations are as a result of product or project failure associated with PolySpec and its subcontractors: Instafreeze, Inc. vs. Environchem Technology and PolySpec Corp; W.J. Enterprises, Inc. vs. PolySpec Corp; Ladell Alexander, et al vs. American Cyanamid, et al; and B-Z-B, Inc, vs. Slip Free Systems, Inc, and PolySpec, L.P. (Fielder, et al n.d, P.7). The external knowledge process belongs to the knowledge acquisition stage of the knowledge management process. (3) Product knowledge This includes the knowledge of company produ ct categories, products professional opinions, product catalogs, product labels and product knowledge available on the company website.

Strategic Management Accounting System Essay Example | Topics and Well Written Essays - 2000 words

Strategic Management Accounting System - Essay Example It further explains the control procedures expected at the three levels of management control (strategic, tactical and operational) and provides a discussion of how control is exercised and information required at each management level, relates to Highline Co. Ltd. The traditional management accounting systems are of minimal use in the preparation of the strategic plans, monitoring of achievement process of predetermined objectives of the organization and performance evaluation of the employees. The failure of traditional accounting systems have triggered the process of research in order to find out the suitable methods which can eke the changing business techniques in order to achieve the organisational objectives in today's global business environment (Ittner & Larker, 1998). According to the evaluation of the manufacturing data in different companies it has been found that the manufacturing has been transformed. Labour cost is no more considered as the significant cost of manufacturing, it has been replaced by the overhead cost which has become a significant cost of manufacturing process. This change has reduced the usefulness of the traditional accounting techniques. By undertaking the examination of the material cost and labour cost data the validity and generality of these claims can be tested. Moreover, the extent to which manufacturing has changed over time and the nature of these changes can also be examined. This can help the management of the company in designing an effective and up to date management accounting system according to the current needs of the company. The changing products and management styles have reduced the usefulness of cost accounting and management control systems in the modern age of information technology which were previo usly used in many organizations. Decline in Direct Labour: The automation of the machinery assembling plant in the company has reduced the number of labour used in the production process. Labour cost constitutes a small portion of the manufacturing costs and the overhead costs have become the major constituent of the manufacturing cost. The changing trend has also raised the level of manufacturing overhead which represents 33% of the total manufacturing cost in the company. Due to the changing pattern of manufacturing process the traditional cost systems also tend to fail in the true valuation of cost. It has been noted that the management has taken inaccurate decisions and adopted strategies which have restrain the manufacturing process. In order to confirm the above assertions the management can gather data to analyze two important issues: 1. The production labour has declined as a percentage of total manufacturing costs. 2. The ratio of the total wage expenditures to production wages has been increased for all, most, or some manufacturing companies over time. (Boer and