Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat WhistleblowersWhat is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen MonksHow Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic StrategiesGeopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional FranchisesIn the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Knowledge Management is defined as the use of different practices and techniques to collect, store and share Knowledge including information, experiences learning and insights among the current and future team members. Before the advent of information and communication technologies, Knowledge management involved the use of face-to-face interactions through classroom training, job rotation, coaching & mentoring etc. The 21st century organizations with their growing reliance on virtual teams use collaborative groupware technologies for effective knowledge management.
The major challenge in virtual teams is difficulty in sharing of tacit Knowledge. This is largely due to the social nature of tacit knowledge creation and transfer. Virtual teams bring together subject matter experts and specialists from dispersed locations to build a knowledge-intensive environment. These teams are more task-oriented, formed for accomplishment of a particular goal such as R&D, consulting, change or innovation, and are disembarked once the project is completed. The knowledge is gained during the process of task execution at an individual level. This knowledge in terms of experience and insights has to be captured and made available to the other project teams as well as future project teams.
An effective knowledge management in virtual team involves capturing and sharing of higher quality and quantity of information. There are two important inputs for effective knowledge management in virtual teams - use of appropriate communication technologies and human coordination. Some of the effective techniques for knowledge management in virtual teams are discussed below.
Thus we see that the key to Knowledge management in virtual teams involves providing infrastructure in terms of both technology and social capital. An effective Knowledge management strategy enables organizations to tap the diverse Knowledge base of virtual team. Learning from past experiences as well as the Knowledge repository provides strong inputs for business intelligence which enhances decision making and productivity.
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