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How to develop KMS system? Explain.
In spite of having numerous benefits of the knowledge management, there are some drawbacks of this technology in the considered banking organization. Some of the problem faced by the National Bank of Elbonia with the implementation of knowledge management in e-banking procedure is as follows:
• Incapability of adapting knowledge that knowledge and introduced new technology
• Lack of training in employees to use the newly implemented system in banks
• Absence of providing knowledge in customer to use these internet facilities for banking operations
• Poor communication system regarding policies procedures, training, tools or templates
Liebowitz and Frank (2016) depicts that a process of creating knowledge, its validation and presentation, knowledge distribution and its application in banks to reduce the manual work is the prime objective of the implementation of the knowledge management. Hau et al. (2013) on the other hand illustrates that application of e-banking in the National Bank of Elbonia successfully demonstrates the proper utilization of Knowledge management for making the banking procedure easier than traditional banking process. Explicit knowledge and the tacit knowledge are the two form of knowledge that an organization usually adopts. These categories of knowledge have to be managed proficiently for maximum utilization of the KMS.
Explicit knowledge- Explicit knowledge signifies the policies or procedural guides that are also referred as reports containing strategies, goals and missions of the information technology infrastructure for the selected organization (Becerra-Fernandez and Sabherwal 2014). This knowledge helps the employees and the customer of the bank about the new information technological change for banking procedure like online mode of transaction and getting balance inquiry by not directly visit the bank.
Tacit knowledge- On the contrary, Panahi et al. (2013) states that the tacit knowledge emphasizes more on the experiences, insights and mental maps for understanding and learning those information technologies benefits. This kind of knowledge is non-codified compared to the explicit knowledge that depicts the personal/experience-based knowledge.
The National Bank of Elbonia delivers the knowledge management by providing e-banking facilities to their stakeholders through the internet. Bedarkar et al. (2016) depicts that this can be delivered through a complete customer-centric approach where the organization values the business practices through the emerging fields of organizational knowledge management. This enhances customer relationship management so that they can also use these technologies for better outcomes. Faroughian et al. (2012) further states that through e-banking facility customers now can make a transaction without being visiting the banks physically and check their balances and transactions anytime.
The required functionalities that are needed to implement the proposed Knowledge management model are as follows:
• Knowledge flow- Knowledge sharing regarding the implementation of new technologies
• Training- Training program for controlling financial and banking operations, money laundering-fighting methods
• Information- Transactional activities, Non-transactional activities, availability of services
• Communication- user feedback, frequently asked questions
Knowledge flow- Knowledge flow signifies a situation, where the National Bank of Elbonia has to provide knowledge to their staffs as well as their customers that they are going to introduce new technologies into their workplace. This can be done by a person to person interactions and provide them updates regarding the new (Rezaei and Muntz 2013).
Training- García-Penalvo et al. (2012) depicts that providing training concerning new technologies to staffs is crucial as they are the one, who accomplishes the banking operations to provide services to customers. Efficient training has to be provided for them for handling cash flow so that they can also make the customers knowledgeable about those facts.
Information- The staffs and clients must know the operations performed in transaction activities like loan transfer, funds transfer, bill pay and in non-transactional activities like a request for cheque book, online statements or updating passbooks and contact information (Singh and Kumar 2014).
Communication- The National Bank of Elbonia can communicate with their customers through their smart device through e-mails or SMS. Becerra-Fernandez and Sabherwal (2014) mentions that they can also formulate a general survey form at a regular interval of time to assess whether they are comfortable with the new system and whether they get benefits from the system. Wenger (2014) also portrays that the organization must provide proper knowledge voice mails or tutorials for using those e-banking technologies.
Martín-de Castro et al. (2013) illustrates that knowledge Assets signifies a set of guidelines implemented in the business context for enlivened people and useful resources for the betterment of the organization. It also signifies how knowledge can be transfer to teams or individuals who are separated by time and distance like customers (AF Ragab and Arisha 2013). Knowledge assets can be implemented through various ways:
Capturing the knowledge- This can be done during the survey where the actual opinion of the respondents are being taken to analyze how they use their knowledge to use those modern technologies and whether they get the advantageous result by using such facilities (Liebowitz and Frank 2016).
Setting the context- Implementing the new technologies in the first attempt is not possible and it needs collating knowledge and experience of a single project team from many teams. According to Rezaei and Muntz (2013), the content of knowledge assets has a context, history of the project, recommendations for future, contact details of the people work for developing the new technological advancements and metadata.
Distilling out the lessons- Meihami and Meihami (2014) stated that this phase is directly linked to the data collection procedure and literature review that is used for later interviews and survey. Huczynski (2012) further illustrates that the prime objective of this phase is to provide sufficient knowledge to the stakeholders about the benefits of the new e-banking internet facility in present as well as in future.
Validating the lessons- The project team needs to validate the recommendations or questions/answers formulated during the distillation phase. Rao (2012) demonstrate that simple checklist, single column format, dual column format and frames format are the four possible ways to lay out those recommendations and questions and answers.
Choice of media- The appropriate choice of media is important as different people learn in different ways. Zhang et al. (2015) mentions that internet modes can be used for those, who are exposed to the digital channel like mock applications, tablet application and intranet page and the customers who are not too familiar with these facilities, offline procedure like manual books, video tutorials and advertisements can be used as a the choice of media.
Publishing the knowledge asset- Hislop (2013) describes that publishing the knowledge asset through effective community space like a Facebook Fan Page or in Wikipedia so that knowledge customers can easily find the knowledge assets in the future.
Embedding in the banking activity- The working procedure of the National Bank of Elbonia needs to implement updated technologies for e-banking based on the new learning. Ackerman et al. (2013) suggestes that training courses and the artifacts containing update processes, rules and procedures will help staffs to embed the knowledge management system in the business activity.
Technology push model of KM- In this model of KM, the ICT Systems (for example- Mock Applications, tablet application and intranet page) that is implemented in the National Bank of Elbonia processed some data on their best practices like any new money deposits scheme to their customer's e-mails (Borghoff and Pareschi 2013). These are the activities that the bank forcefully send to users e-mails or cellphones to make them aware of the newly introduces scheme.
Strategy pull model of KM- Ward and Peppard (2016) depicts that in this model the pull audience are targeted partially that are only those who make explicit requests for the information like bank credit cards and new schemes by visiting the bank’s branch. Users themselves seek for information and the entire process work reversely compared to the technology push model of KM.
According to Schmitt (2013), infrastructure requirement signifies the factors which provide a supportive environment to the working personnel and the customers regarding the efficiency of the system. Some of the infrastructural requirements are:
Organizational structure- Weske (2012) mentions that an effective knowledge management system must ensure the factors affects the staffs and customer retention while using the resources optimally through the new technologies they adopt which resembles the flexibility of the structure of an organization. They must keep their business procedure open to their customers throughout the day so that they can resolve their queries. Argote (2012) illustrates that obtaining credit cards balance and money transaction operations through any Automatic Teller Machine and instant updates regarding the withdrawal are another facility includes under organizational structure for better customer services.
Organizational culture- Borghoff and Pareschi (2013) explains that a healthy organizational culture plays a crucial role in customer satisfaction and employee retention and motivation. Otherwise, inability to adapt the functionalities of these new systems will results in loss motivation of the employees in the workplace and simply loses their positions. On the other hand, Richter et al. (2013) also affirms that an effective organizational culture will cause massive problems in their productivity as customers are not confident to use these information technological facilities.
Knowledge Dissemination- Green et al. (2014) defines that knowledge dissemination resembles a state where all the information are available in a useful format for anyone in the organization so that they can understand the procedure to use the service anywhere and anytime. Lack of communication skills, lack of time and rapid change in Information Technology are some underlying aspects of knowledge dissemination.
Technology adoption and Human resource- Human resource and technology adoption are interrelated to some extent as a proficient human resource of an organization possess the talent to obtain knowledge for using information technology tools (Borghoff and Pareschi 2013). Wiig (2012) on the other hand suggested that if any staffs or customer is facing problems regarding e-banking technology, proper approaches must provide to them along with the benefits of the system otherwise they will never know the reason why the organization has changed their business procedure.
Knowledge Auditing- Assessment and examining the knowledge base of the stakeholders and by reviewing the performance of the organization through interaction with a human resource with the new technologies is termed as knowledge auditing (Davenport 2013). Woods and Cortada (2013) on the other hand, depicts the benefits of this auditing approach and states that further changes can be implemented in the new procedures if stakeholders are facing difficulties even after provision of training.
David and David (2016) illustrates that, regular monitoring and evaluation are necessary for assessing the performance of the entire business procedure. In this way, appropriate changes can be introduced that will be beneficial not only for the organization but also for the customers. According to Zhang et al. (2015), an evaluation approach also determines whether the proposed model helps in better customer services or not. This can be done by conducting surveys as mentioned earlier and the proposed model will identify-
• Whether the knowledge flow is effective enough to access all the current knowledge resource
• Whether the proposed model results in better usage of knowledge management system by the employees with proper training
• Whether the proposed model helps in ease of banking functionalities for stakeholders
There are three basic ways through which the organizational change can be accomplished by the National Bank of Elbonia. They are:
Data visualization- Wiig (2012) portrays that creation of graphic presentations for the customers or staffs for learning the new e-banking approaches plays an essential role in making them learn about the new technologies efficiently. Basias et al. (2013) highlights another prime objective that is to make them aware of the activities they can use for quick results like they no longer have to wait in a bank's queue for money withdrawal and for passbook updates.
Dependency to Partnership- Villa-Real (2014) depicted that getting expertise knowledge on these technologies will be difficult for the stakeholder and hence the concerned organization can take help of the IT professionals, software programmers and hardware engineers. Moreover, Sidhu et al. (2015) depicts that in this way an effective partnership between the organization and the experts in network and security system can be accomplished.
Social media- An effective and changing communication tool is the social media like Facebook, YouTube and others can be used for providing knowledge regarding benefits of the e-banking facilities (Picazo-Vela et al. 2012).
In order to demonstrate the effectiveness of implementation of knowledge management system in the concerned banking organization, few questions have been asked to the employee of the bank on their experience of utilizing knowledge management for a systematic exploitation and reuse of the assets for saving cost and enhancing their efficiency. Every question has four to five options and the data collected from this survey is known as primary data. The managers are considered as target audience and selected for an interview. The data that are gathered from this way are the primary data and are analyzed quantitatively by statistical data analysis in the case of survey and qualitative in the event of the interview (Creswell 2013). The chief reason for selecting the quantitative data analysis is to avoid the biasedness of the expected outcome on the effectiveness of KMS the National Bank of Elbonia implements for its e-banking operations through the internet and get the accurate result by using statistical data analysis methods like the mean, median mode and standard deviation (Ott and Longnecker 2015). Microsoft Excel is being used for the calculation of the data and then for formulating the graphical representation. Analysis of recurring events and emerging themes, constant comparative methods and analysis procedure was used. Data gathered from the survey were grouped together for the evaluation of the data and information.
As a part of the ethical consideration, Data Protection Act 1998 is being used where the data gathered from the respondents will be kept as secret and their actual opinion will be noted down without forcing them to select an option (Council 2014). Lastly, the result obtained from data analysis is compared with the expected outcome and it is found that KMS benefits the National Bank of Elbonia for better performance and resolve risks issues effectively by utilizing the knowledge.
This report represented the existing problem and its associated solution regarding those problems of the National Bank of Elbonia. The introduction of the new e-banking facility for knowledge sharing for improving their work efficiencies was discussed. It is concluded form the report that stakeholders also feel that modern information technologies will help in accomplishing the banking operations in lesser time compared to the traditional method; however, the staffs, as well as customers, need training for getting accustomed with internet banking facilities. Technology push model and strategy pull model of KM was used along with the customer-centric mode of delivery for those knowledge to solve the difficulty faced by the customer who are not exposed to the digital channel and staff, who are not unable to adapt the technology. ?
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