Management & E-Commerce Free-Samples for Students -Myassignment

Question: Discuss about the Knowledge Management and E-Commerce. Answer: Introduction Management in context of business can be defined as a possibility of achieving the mission or objectives of the company. As, it circulates compulsory guideline to be followed with in the organisation related to manager availability, communication as well as relationship styles and also capacity to synthesize various challenges in the organisation.In the following assessment will look forward to the knowledge management and e-commerce from the perspective of organisation. Chosen organisation for the report is Rio Tinto, public Ltd organisation. It headquarter is located in London UK. The business enterprise deals in the product like iron ore, Alumina, copper, aluminum, Diamonds etc (About Rio Tinto, 2017). Later in the assessment report will also asses that how Rio Tintocan utilize KM and e-commerce for increasing its business practices. Overview ofknowledge management and e-commerce E-commerce or e- business includes the usage of information technology capabilities to accomplish objectives(Kourie, BothaSnyman, 2014). Furthermore it not only includes selling and buying but also other business processes such as managing electronic relationship as well as serving consumers and suppliers. E-commerce assist in managing supply activities till the time final delivery is done to the consumers. Also helps in maintain the internal communication relationship between client as well as employees and also helps in collaborating with other business partners. All such activities are considered as intangible assets. That means the ultimate concentration of e-commerce solution is on knowledge management (NickersonBargiela-Chiappini.(2014)). Where e- business strategy is a strategy that is based on the different level management as well as organizational departments group works. Now the shared information to integrate the following group is known as knowledge. For instance, feedbacks in relation to consumer satisfaction will link the marketing and production department. Hence, it assists in linking the different tasks performed by individuals, level of organisation and departments. Assessing how Rio Tintowill utilize KM and e-commerce for enhancing the business Knowledge management is nothing but a systematic organizational management that results in creating value as well as in meeting various strategic and tactical needs. Further it includes various initiative process and strategies that leads towards enhancing the business storage, knowledge, sharing as well as assessment (Holsapple, 2013). In other words, KM is about applying knowledge in the previously, new or novel situations. It is a continuouscycle of 3 major processes. Those are knowledge creation and improvement, distribution and circulation as well as addition and application. It involves of incorporating both storing and holding the knowledge perspectives in respect to intellectual assets. As per knowledge management theory there are three distinct perception of knowledge that is containers, communities and content. Rio Tintowhile maintain KM will help in executing different knowledge component of business activities. Also it will help in maintaining link in between the company assets and tactics that further will result into enhancement of the business practices (Lawsonet.al., 2013). Rio Tintoshould go with the Knowledge management as it leads the business towards: Globalization- Intodays world organizations have become more universal with multiple sites, multicultural nature. Learner organisation- Itwill help the respective travel and tourism firm in adopting learning strategy which result in understanding the consumer values and increase focus on understanding their values. As it is the ultimate goal of reaching the hearts of clients by providing them ultimate satisfaction from services and products. Advancement of technology- It lead the company to have better connectivity with the world. As these days entire world is being connected to multiple of website and smart phones etc. In such situation it is important for a firm like Rio Tintoto have online presence (Massingham, 2014). This is done to enhance the consumer awareness about the company and its services/products etc. There are 4 different KM models: Zack KM model from Meyer and Zack (1996)- Zack model is an approach where every stage is designed to be standardized and logical. Stages are acquisition, refinement, storage, distribution and last but not least refinery. Bukowitz Williams Model (2000)- the following model shows the process framework in a KM which outlines how the companies generate, maintain as well as expand a strategically precise stock of knowledge to create the value. Under this knowledge means relationships, knowledge repositories, IT, communication infrastructure, and process know-how (Kpylet.al.,2014). Also include functional skill sets organizational intelligence and external sources. Stages involved in this method are get, use, learn, contribute and then assess at last. McElroy Model (2003) - This model outline the knowledge life cycle. That further includes the knowledge integration as well as process of knowledge production. Stages involved under this method are learning, validation, acquisition, integration and at the end completion. WllG (1993)-it involves creating, sourcing, compiling, transforming and application the knowledge (Ariza-Montes et.al., 2014). Basically this model portray 3 major conditions first is of having a client and business. Second condition is of having resources that are people, facilities or budget etc. And at the end it is required to have the strength to act. E-commerce Electronics Commerce is a modern business methodology which addresses various requirements of the business enterprises and other related to the company (Assessing how e-commerce leads to enhancement of business practice.(2017)). Such as vendors and consumers to reduce cost and develop the quality of goods/services while enhancing the delivery speed. In other words e-commerce is termed as a paperless exchange of business information by the use of various means. Those are electronic data exchange, electronic fund transfer, e-mail, electronic bulletin boards etc. With the help of E-Commerce Rio Tintocan provides the following features to its clients. Which are as follows: Non-Cash Payment mode- With the help of E-Commerce one can make use of cards like debit credit smart cards, electronic fund transfer etc. on online website bank's website, and other modes of electronics payment (Kourie, BothaSnyman, 2014). 24x7 Service availability- Second feature of E-commerce is its 24 hour service. One client can transact from anywhere at any time through online platforms. Marketing/ Advertising- E-commerce assist in enhancing the range of advertising of enterprise products/services. Improved Sales: Also leads towards improving the sales of products and services can be made at anytime and anywhere without any intervention of individual. That further leads in boosting the turnover of the company Inventory Management: Another important feature of ecommerce is inventory managementthat assists in generating the reports when required (NickersonBargiela-Chiappini,.2014). Also it becomes efficient as well as easy to maintain the product inventory. Communication improvement: it provides various communication ways that leads towards faster, efficient, reliable communication with clients and other partners. There are various e-commerce business models which companies such as Rio Tintocan apply in its business. Those are: B2B- Business to business model where the company prepares a separate website to sale its products to intermediate buyer. And afterwards the intermediate buyer sells the product to ultimate customer. This model in case of Rio Tintowill work as it is having wide ranges of products and in order to reach more and more customers the company can go for franchise, retail outlets etc. There is a chain formed in the model from producer to wholesaler to retailer to consumer. B2C- Business to consumer, over here the respective company can sell its products directly to its clients. This saves time and energy of the customer and makes it convenient to choose correct purchase and make a deal. Rio Tinto provides its services worldwide and so the consumer can directly go to stores in near locality to make a purchase (Kpylet.al.,2014). C2C-Consumer to consumer model, this model again is not useful model in regard to Rio Tintoas over here customer sales there products to another consumer. When it comes to products like diamond, gold etc. consumer prefers to purchase firsthand instead of going for second hand option. This deals are generally made in respect of cars, motorcycles etc. such as OLX. C2B- Consumer to business,now this model is very much useful to Rio Tinto, as it provides its clients a opportunity to give their give self-customized designs and company will further study and make product accordingly. This will further result in increasing consumer satisfaction (Massingham, 2014). B2G- That is business to government model is a variant of B2B model. In this government use the websites of organizations to trade as well as exchange various information. This model is useful in case of Rio Tinto as because the government may do gold load and other related transactions with the company. Hence, following model is a useful to Rio Tinto. G2B- Government to business model,Again the model is useful for particular organisation. These types of websites are generally used by the government to auction things like gold, diamond etc. in order to approach general citizens. Conclusion The following report was based on the KM and e-commerce in context of Rio Tintobusiness. Firstly the report includes overview of both the dimensions and assessments. That are ecommerce as well as knowledge management in context of respective business. Also has assess that how thesesdimensions leads towards the enhancement of business practices of the chosen travel and tourism firm. Firstly, km was discussed, and came up with certain benefits in regard to organisation that was globalization as well as technology advancement. Along with this also had discussed various models which were Zack, Bukowitz and Williams, McElroy and last but not the least WIIG model. After making discussion over KM next came up with the e-commerce and analyzed various factors to find the capability of enhancement of business. Came up with various features such as 24 hour service, marketing advertising and inventory management and communication improvement. Also report had discussed various models in respect t o e-commerce, which were B2B, B2C, C2B, B2B, G2B, and B2G etc. References Books and Journals Ariza-Montes, J.A. et.al.(2014).From potential absorptive capacity to innovation outcomes in project teams: The conditional mediating role of the realized absorptive capacity in a relational learning context.International Journal of Project Management. 32(6).pp.894-907. Holsapple, C. (ed.). (2013).Handbook on knowledge management 1: Knowledge matters(Vol. 1). Springer Science Business Media. Kpyl, J. et.al.(2014). Knowledge that matters: identifying regional knowledge assets of the tampere region.European Planning Studies.22(10). pp.2011-2029. Kourie, D., Botha, A. Snyman, R. (2014)Coping with continuous change in the business environment: Knowledge management and knowledge management technology. Elsevier. Lawson, G. et.al. (2013). The design and implementation of knowledge management systems and e-learning for improved occupational health and safety in small to medium sized enterprises.Safety science. 60. pp.69-76. Massingham, P. (2014). An evaluation of knowledge management tools: Part 1managing knowledge resources.Journal of Knowledge Management. 18(6). pp.1075-1100. Nickerson, C.R. Bargiela-Chiappini, F. (2014).Writing business: Genres, media and discourses. Routledge. Online About Rio Tinto.(2017). [Online] Available Through: . Accessed on 22nd April] Assessing how e-commerce leads to enhancement of business practice. (2017). [Online] Available Through : https://www.dypatil.edu/schools/management/wp-content/uploads/2015/05/impact-of-e-commerce-on-business-performance-a-study-with-respect-to-travel-industry-Murtaza-Adenwala.pdf.[ Assessed on 22nd April].