Question

describe is knowledge management? What types of knowledge may a company such as a bus operating company has, and could this bus company benefit from applying knowledge management?

Answer 1

Knowledge Management:

This is an efficient use of knowledge in an organization and creating a learning environment within the organization. It is important for spotting the issues quickly and making immediate steps for resolving. In a competitive environment knowledge gives an edge in the market.

Types in a bus company:

No.1) knowledge of man-management: the company has to deal with so many persons like driver, conductor, helper, passengers, mechanic, government, etc. They are from different background (such as a driver and a government official are not same). The company uses knowledge while communicating with different persons in different perspectives, which is known man-management.

No.2) knowledge of negotiation: the company must have negotiation skill that comes out of knowledge – suppose negotiation with government officials is required for increasing bus fare.

No.3) knowledge of accounting: this is required for keeping accounting records – bus fares and employees payments are based on this knowledge.

No.4) knowledge of ethics: this is required for morality – drivers, conductors, and other staffs should not be treated as slaves; adequate leaves along with proper salary should be given to them. This knowledge is required in order to run the business for long time.

Benefits:

Yes; it is

Knowledge gives brighter overlooks, skill to tackle situations, and almost flawless anticipation for future. All these are necessary for a bus company (as discussed above). Therefore, it benefits certainly.