Electroplating Definition and Uses

Electroplating is a process where a coating of metal is added to a conductor using electricity via a reduction reaction. Electroplating is also known simply as plating or as electrodeposition.When a current is applied to the conductor to be coated, metal ions in solution are reduced onto the electrode to form a thin layer. Brief History of Electroplating Italian chemist Luigi Valentino Brugnatelli is credited as the inventor of modern electrochemistry in 1805. Brugnatelli used the voltaic pile invented by Alessandro Volta to perform the first electrodeposition. However, Brugnatellis work was suppressed. Russian and British scientists independently invented deposition methods that came into use by 1839 to copper plate printing press plates. In 1840, George and Henry Elkington were awarded patents for electroplating. Englishman John Wright discovered potassium cyanide could be used as an electrolyte to electroplate gold and silver. By the 1850s, commercial processes for electroplating brass, nickel, zinc, and tin were developed. The first modern electroplating plant to start production was the Norddeutsche Affinerie in Hamburg in 1867. Uses of Electroplating Electroplating is used to coat a metal object with a layer of a different metal. The plated metal offers some benefit that the original metal lacks, such as corrosion resistance or desired color. Electroplating is used in jewelry making to coat base metals with precious metals to make them more attractive and valuable and sometimes more durable. Chromium plating is done on vehicle wheel rims, gas burners, and bath fixtures to confer corrosion resistance, enhancing the life expectancy of the parts.

Apple Inc. ( Business Insider ) - 1595 Words

Apple Inc. is a worldwide American organization that creates PC programming, phones, PCs and shopper electronic items. The extraordinary results of Apple include: the iPod, the iPhone, the Macintosh line of PCs and the iPad. 301 retail locations in 10 nations are worked by Apple in August 2010. The product of Apple comprise on the Mac OS X working framework, iWork suite of gainfulness programming, Final Cut Studio, Logic Studio a music creation device s suite, iOS; a portable working framework, the iTunes media program, the iLife suite of sight and sound and imagination s oftware, Aperture; an expert photography bundle, AirPlay, Airprint, and so forth (Business Insider, 2013). Macintosh Company was produced on April first , 1976 by the†¦show more content†¦Internal Analysis Financial Analysis As indicated by aftereffect of Apple s 2012 Q1 keeps on inspiring. The reason is expanded in income from $24,7 billion to $39,2 billion or by 59% as appeared differently in relation to 2011 Q1. Quarterly Net pay before devaluation increments from $6,4 billion to $12,4 billion which is likewise created by high income. By topographically organizations deals are enhanced, which is 1/third of offers are from Asia and 1/third is from US. These locales have most elevated anticipated that development as looked at would Europe who simply represented 22%. The business sector has become in Asia on the grounds that the deals from Asia have multiplied from 2011 and a large portion of the income originated from Apple iPhone which was 58%; it implies iPhone deals ha expanded by +85%. Also, the iPad development has expanded by 17% which implies the income has expanded by +132%. Then again, Mac and iPod were less in development as demonstrated in figure 5 (Financial Analysis, 2012). Shares of Apple in portable business and tablet business have expanded from 48% to 60 %, which is far superior than its rivals (Google Android). Google s offer has amplified quite recently from 15 to 19%. The outcome was sure by and large as indicated in figure 6 (Financial Analysis, 2012) Value level did not influence the exceptional yield which was 45% and without effecting it has expanded by 68%.

Business Strategy and Sustainability

Question: Discuss about the Business Strategy and Sustainability. Answer: Introduction The assignment will cover all the important aspect of the selected organization BHP. The ultimate point of the assignment is to cover all the critical areas, which includes an integral part of the company operations. The objective of the study is to conduct a CSR Report, which will conclude about the internal proceedings as well as about the corporate social responsibility of the organization (Reviews, 2013). The notion of the corporate social responsibility is one of the most crucial part as well as one of essential elements in every business operations. There are some standard rules and regulations, which a different organization follows towards maintaining a proper CSR in the business proceedings (Robinson, 2012). The idea of an internal audit is an independent, object assurance activity, which mainly designed towards adding value and improves an organizational operation. The process of monitoring the overall functioning of the organizational plans and procedures, which includes business structure, employee behaviors, and information system, is known as the idea of the internal audit (Weirich, Churyk, Pearson, 2012). With the help of organizing a proper auditing process, the organization will be very active towards maintaining all the business ethics in an efficient manner. Background of the company BHP Billiton is an Anglo-Australian mining company which, which mainly deals metals and petroleum, with its headquarters in Melbourne. Sustainability, integrity, and accountability are the key attributes of the enterprise. It is one of the largest producers of the majority commodities including iron ore, metallurgical coal, copper, and uranium. It is one of the oldest mining companies in the world and Australia (BHP Billiton, 2016). The company is always in a learning process and makes a proper advancement with the modern technology. The long-term nature of the company is to develop a sustainable as well as a good relationship with the host commodities where the organization BHP Billiton work to make a positive contribution both the business as well as in the society (BHP Billiton, 2016). The objective of the assignment is to cover all the important aspects, which will focus on what are the different kinds of factors, which this particular organization has done in the process of deve loping a proper corporate social responsibility. The business strategy of the organization based towards on operating assets, which will focus on commodity, geography, and market (Coombs Holladay, 2012). To achieve these three factors, the overall objective of the organization is to maintain a proper flow of work, which will simultaneously look for the diversity of the work and the organizational prospect (Gond Moon, 2012). Analysis of the study The purpose of the study is to highlight what are the different kinds of measures, which this particular organization has developed to build a proper corporate social responsibility. The notion of the corporate social responsibility will highlight the operations of the business in an appropriate manner, which will focus towards followings different ethics (Gonzalez-Perez Leonard, 2013). There are certain dimensions of corporate social responsibility. Some of the critical aspects, which this organization follows in the overall business operations, are highlighted in the following part of the study (Abramowicz, 2013). Ecological concerns, human rights, market relations, sustainability and corporate domination are some of the key dimensions of the corporate social responsibility. However, there are some advantages, which needs to emphasis in the overall process of maintaining a proper CSR model in the organization (AhÃÅ'Â £mad Crowther, 2013). Some of the main advantages of the corp orate social responsibility include employee loyalty and employee retention. It also helped the organization to increase reputation and brand image in the business operations. It acts as a mode of advertisement and promotion, which different groups develops irrespective of nature as well as the objective of the business proceedings (Haynes, Murray, Dillard, 2012). The strategy of the organization is to own as well as operate large, long-life, an expandable commodity in the market. The plans for the organization remained unchanged in the overall business operations. The overall concept of the CSR relates primarily towards achieving the outcome from the managerial decisions for concerning different kinds of specific problems as well as different kinds of specific issues (Amaeshi, Nnodim, Osuji, 2013). The impact of a companys action for the betterment of the society is very much crucial for the business. The study will cover all the important aspect of how this particular organization contributes as well as develops the overall CSR model in the business process (Haynes, Murray, Dillard, 2013). Previously, in the corporate world, the financial bottom line and the shareholder's return on investment have been the main drivers for the company towards measuring accomplishment (Boubaker Nguyen, 2012). The organization in the study maintains a high aspect in the overall decision-making policy for the society. This part of the study will cover the different advantages as well as aspects, which BHB Billiton is benefited while applying a high CSR model. Keeping social responsibility in front of the mind encourages the business to get morally and to consider the social and environmental impact of the firm (Coombs Holladay, 2012). In different cases, the organization will find ways towards changing the service or value chain, which will deliver benefits for the community. Scope of Engagement of CSR This part of the study will complete an overall audit process, which will conclude how BHP Billiton performs in the corporate social responsibility. There are six steps, which will complete an efficient as well as continuous audit process, which will concentrate on the key areas of the corporate social responsibility of the organization (Idowu, Capaldi, Zu, Das Gupta, 2013). Establishing priority areas and determining the process frequency are the major step, which different managers need to take into consideration before making the switch into a continuous auditing process. There are different kinds of organizational areas, which different auditors irrespective of the nature of the nature of the business integrate (Gattiker, 2013). By analyzing all the important factors, the activity of choosing the organizational is one of the key objectives of the auditors (Millichamp Taylor, 2012). The auditor is very much concerned about what are the key areas that the company focuses on while contributing towards the betterment of the society. The account has decided to implement six continuous processes towards determining the contribution of the CSR in the overall business model. The first step is to analyze the key priority areas, which are required by the organization to focus on the significant aspects of the corporate social responsibility. Then the auditor needs to identify proper monitoring and continuous audit rules. Determining the process of the review standards and the process of frequency is another significant which majority of the auditors performs in the overall auditing process (Gond Moon, 2012). There are different kinds of auditing parameters which different auditors irrespective of the nature of the performance adopts in the overall auditing process. The most crucial part of the verification process is to develop a proper following up process. With the help of the appropriate monitoring process, the auditor in the overall business process will be able to match the actual performance of the organization with the planned performance (Gonzalez-Perez Leonard, 2013). Communication the results will incorporate the both the positive impact as well as the negative consequences of the proceedings of the business. Results might be positive or negative. Positive results will boost the morale of the employees, and the managers need to perform as overall analyze the negative results in the overall organizational procedures (Haynes, Murray, Dillard, 2012). Analyzing the current Understanding of Corporate Social Responsibility As discussed in the previous section of the study, establishing the priority areas of the auditing plans and procedures is one of the key accountability of the auditing plans and procedures. The business process, which is identified in the operations, is the application of the CSR (Haynes, Murray, Dillard, 2013). Understanding the availability of the continuous audit process will bring different kinds of benefits in the proceedings. Different organization irrespective of the nature of the business follows different rules and regulations towards completing the notion of Corporate Social Responsibilities. Presently, it has become one of the compulsory in the firm towards contributing a part of the profit for the betterment of the society. BHPs Commitment to corporate social responsibility Based on the ministry of corporate affairs there are certain rules and regulations which majority of the companies in Australia follows in the operations of the business are highlighted in the following part of the analysis procedure (Idowu, Capaldi, Zu, Das Gupta, 2013). The organization follows all the rules and regulations developed by the governance body in an efficient manner. The following are the key areas, which this particular group in the study BHP Billiton focuses on while performing Corporate Social Responsibility. The company focuses on eradicating hunger, poverty, promoting preventive health care and making available for safe drinking water. Improving education in the economic background section of the country is one of the basic aims. It includes individual education and service enhancing vocation skills mainly among the children and in livelihood improvement projects. The application of the CSR is not restricted only towards benefiting students. The company also spends many funds towards developing old age homes and additional facilities to the senior citizens of the country. The company has done a brilliant job towards ensuring ecological sustainability, an biological balance that includes safety of flora and fauna, animal benefit, protection of natural resources and maintaining the excellence of soil, air, and water. Every country based on the demographical backgrounds has some cultural aspects. BHP Billiton enables the overall protection of the natural heritage of the country, which includes restoration of buildings, and sites historical importances are some of the key areas. Development of different kinds of traditional arts and handicrafts is another additional feature, which this particular organization focuses in the process of developing a proper as well as an active CSR. The company also believes towards promoting different kinds of sports events. Considering the increasingly vast as well as complex business environment, the move of different enterprises in the process of contributing to the betterment of the society is remarkable. The Australian ministry of corporate affairs developed certain rules and regulations to incorporate a proper CSR Models (Weirich, Churyk, Pearson, 2012). Recommendations for CSR for BHP Billiton Achieving increased level of cooperation between the different departs of the organization and regarding CSR that relates towards achieving CSR aims and objectives. The company needs to focus on the in the strategic use of the social investment budget. On the other hand, introducing the CSR aspect of the business in the initial stage of the project will integrate into the long-term aims and objectives of the organization. However, the most important points which BHP firmly believes in the process of development of long-term goals and objectives. Specifying the aims and objectives of the stakeholders includes the identification and engagement as a continuous process. Ensuring the existence of the CSR skill in all the employees of the organization is another key factor that needs to be incorporated in the overall proceedings of the CSR policies. Implementing an effective audit in the review system towards improving the quality of the CSR is another point, which the management of the or ganization needs to incorporate in the proceedings towards developing a proper CSR program in the analysis of BHP Billiton These are some of the important points, which the company needs to focus on the overall development and implementation of a proper CSR Model. The organization has done a brilliant job while developing an appropriate CSR Model in the business proceedings. With the application of the CSR model all, the operations of the organization are performed in an efficient manner by following all the relevant ethics developed by the corporate regulatory. Theoretical concepts of Corporate Social Responsibility There are certain theories and concepts of CSR which different organization irrespective of the nature of the business adopts in the overall business operations. With the application of the various kinds of CSR theories and models, the different organizations including BHP Billiton are benefited in particular ways, which includes following steps. Increasing in customer retention, winning new business, enhanced relationship with the stakeholders, funding opportunities, differentiating from the other companies are some of the key objectives of implementing proper CSR proceedings. Carroll Model Carroll model is one of the basic models, which certain companies irrespective of the nature of the business adopt in the process of developing a proper CSR model (Aras Crowther, 2012). There are four important factors, which will conclude about the application of the Carroll model in the overall business policy. Philanthropic responsibility and economic responsibility are some of the key elements, which are included in this particular business model (Ionescu, 2010). The overall pyramid is developed in such a manner, which will focus on the important responsibility to the lower level responsibility (Lindgreen, 2012). Philanthropic accountability and ethical responsibility are the primary two criteria, which need to focus while performing a complete Carroll Model in the CSR policy. On the other hand, legal responsibility and economic responsibility are the other two factors that will constitute the Carroll Model of the CSR. BHP Billiton gives top importance while performing this part icular business model of CSR and was benefited in certain ways while applying all the steps in a proper manner (LoÃÅ'ˆber, 2012). CSR Management Cycle The company strongly believes towards developing a CSR Management Cycle. Several steps need to follow in the development process of an appropriate CSR Model. All the necessary steps are followed in an appropriate manner, which includes the policies and midterm control, dissemination to group companies, compilation and sharing of status, internal and external evolution, and future improvement of publishing results are some of the key factors which are included in the overall CSR Management Cycle (Millichamp Taylor, 2012). BHP Billiton focuses on all the major factors, which are required by the organization to complete the CSR Management cycle. Conclusion The concluding part of the study will summarize all the important factors which will focus on how the organization gets benefited and what are the different models used by BHP Billiton to develop CSR in the business operations. The assignment is classified into several segments, which concludes the overall effectiveness of CSR in the business process and activities. With the help of organizing a proper audit process, the assignment completes what are the different kinds of factors, which BHP Billiton performs in the overall business process of CSR. Different significant theories, which this particular organization follows in the development process of a proper CSR Model, are highlighted in the overall study. The scope of engagement, current understanding of CSR and recommendation of appropriate steps towards the improvement of the CSR policy of the company are some specific areas, which the organization needs to focus on. The overall internal audit process was very much satisfied and the auditor has performed a remarkable job by highlighting the effectiveness of CSR. Reference List Abramowicz, W. (2013).Business information systems. Berlin: Springer. AhÃÅ'Â £mad, J. Crowther, D. (2013).Education and corporate social responsibility. Bingley, U.K.: Emerald. Amaeshi, K., Nnodim, P., Osuji, O. (2013).Corporate social responsibility, entrepreneurship, and innovation. New York: Routledge. Aras, G. Crowther, D. (2012).Business strategy and sustainability. Bingley, U.K.: Emerald. BHP Billiton,. (2016).BHP Billiton | A leading global resources company.Bhpbilliton.com. Retrieved 19 August 2016, from https://www.bhpbilliton.com/ Boubaker, S. Nguyen, D. (2012).Board directors and corporate social responsibility. Basingstoke: Palgrave Macmillan. Coombs, W. Holladay, S. (2012).Managing corporate social responsibility. Malden, MA: Wiley-Blackwell. Gattiker, U. (2013).Social media audit. New York: Springer. Gond, J. Moon, J. (2012).Corporate social responsibility. London: Routledge. Gonzalez-Perez, M. Leonard, L. (2013).International business, sustainability and corporate social responsibility. Bingley [England]: Emerald. Haynes, K., Murray, A., Dillard, J. (2012).Corporate social responsibility. Abingdon, Oxon: Routledge. Haynes, K., Murray, A., Dillard, J. (2013).Corporate social responsibility. London: Routledge. Idowu, S., Capaldi, N., Zu, L., Das Gupta, A. (2013).Encyclopedia of corporate social responsibility. Berlin: Springer. Ionescu, L. (2010).Internal control and internal audit. New York: Addleton Academic Publishers. Lindgreen, A. (2012).A stakeholder approach to corporate social responsibility. Farnham, Surrey: Gower. LoÃÅ'ˆber, H. (2012).Corporate management, corporate social responsibility and customers. Hamburg: Diplomica Verlag. Millichamp, A. Taylor, J. (2012).Auditing. Andover, Hampshire: Cengage Learning EMEA. Reviews, C. (2013).Studyguide for audit process. [Place of publication not identified]: Academic Internet Publish. Robinson, Z. (2012).Sustainability. Singapore: Marshall Cavendish Editions. Weirich, T., Churyk, N., Pearson, T. (2012).Accounting auditing research and databases. Hoboken, N.J.: Wiley.

Knowledge Management Practices as Found in Contemporary American Business and Management

Introduction: Contemporary U.S. Management and Its Specifics The world of entrepreneurship is facing a new era, i.e., the epoch when the informational civilization is being born, with information quickly becoming the main and the most valuable article of trade, the necessity of being able to use this commodity the right way appears.Advertising We will write a custom research paper sample on Knowledge Management: Practices as Found in Contemporary American Business and Management specifically for you for only $16.05 $11/page Learn More The vast amounts of information and the need to process them quickly have spawned the creation of a new type of management – knowledge management, with an appropriate theory to support it. However, even more striking changes have come, contributing to shaping the process of knowledge management. Because of the numerous factors that contribute to shaping the knowledge management system, as well as the availability of information combined with the need to distribute it fast and evenly, the modern knowledge management is currently facing a number of challenges that an efficient system of knowledge sharing can possibly help deal with. Knowledge Management Definitions: What Lurks Behind the Term Knowledge management might seem a very straightforward process that cannot be possibly misinterpreted. Since the KM process involves dealing with knowledge, it must presuppose the strategy of information disposal. The latter, however, involves a plethora of elements and factors, which shape the knowledge management strategy, dictating specific steps to be undertaken. Hence, knowledge management as a phenomenon can be considered from different points of view. Depending on what the focus is, the definition of knowledge management may vary. When the Focus Is on Knowledge Putting the emphasis on the significance of knowledge acquisition, the first and the most comprehensive definition of knowledge management sta tes the purpose of KM as the means to obtain information. However, the given approach towards understanding the principles of KM puts every single agent of the given process in its place, distributing responsibilities among the supposed staff of the supposed organization. KM can be defined as the process of organization management that is aimed at revealing the knowledge base of the given organization (Snyder Wilson, 2000, 527). Therefore, knowledge management can be considered as a means to promote a more efficient knowledge sharing system.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More When People Are in the Spotlight Weirdly enough, the definition of knowledge management does not necessarily put information into the spotlight. In some of the definitions, not knowledge, but the knowledge sender and receiver are focused on, which is rather reasonable. Thus, the key function of k nowledge management, which is the transfer of information, is stressed. With the help of such a definition, one can shed some light on the function of knowledge management as a means to establish trustworthy relationships between the employees instead of stating the obvious: â€Å"Knowledge management is about choosing the right practices or tools to efficiently enhance communications among the staff† (Batten, 2008, 86). Therefore, knowledge management can be understood as the set of rules on information sharing that will at the same time reflect the company hierarchy, organization ethics, and culture. Performing several additional functions, such as coordinating the relationships between employees, KM can also serve as a means to change the company’s climate. When the Process Is Important Apart from knowledge functions, the existing definitions of knowledge management also describe the specifics of the process itself. Therefore, KM can be viewed as a series of steps t hat have to be undertaken in order to achieve the goal and distribute information efficiently. Therefore, the following definition can be provided: knowledge management is a process that consists of a set of activities that lead to discovering, capturing, sharing and applying knowledge, so that the goal achievement of the organization could be enhanced in the most efficient way possible (Becerra-Fernandez Gabherval, 2009, 56). That being said, knowledge management could be viewed as a range of actions that must be performed in order to reach a specific goal. When the Goals Are Addressed As it has been shown in the example above, another way to interpret KM is to view it as a tool for achieving specific goals, as well as establishing them. On a basic level, knowledge management serves a purpose of improving the information distribution across the company; therefore, it can be defined as the means to hit a specific target.Advertising We will write a custom research paper sample on Knowledge Management: Practices as Found in Contemporary American Business and Management specifically for you for only $16.05 $11/page Learn More Though the definition provided by Fernandez and Gabherval does mention the existence of the target in question, they still stress that learning the succession of actions is the key to understanding the principles of knowledge management. Thierauf, however, offers a slightly different approach that shifts the emphasis precisely on the goal of the organization. As Thierauf (1999) explains, knowledge management is not a process, but a system that allows to â€Å"provide competitive advantage by giving decision makers (from the highest level to the lowest level) the necessary insights into patterns and trends that affect their domain† (Thierauf, 1999, 5). In fact, the given statement also correlates with the idea that KM can be used as a means to regulate the relationships between the staff members. To be mo re exact, the given definition suggests that KM can be used as a tool that introduces a specific hierarchy into the organization. Knowledge Management and Competitive Advantage Finally, the effects of efficient knowledge management should be considered as the basis for knowledge management definition. Thus, one will be able to obtain an objective definition of what knowledge management actually is. That being said, knowledge management could be viewed as not only a process, but also a practice and even a culture of creating or gathering, analyzing, distributing and sharing organizational knowledge. In other words, KM can be viewed as a means to enhance the company’s competitive advantage by using the provided information efficiently. According to what Wallace (2007) says, knowledge management can be identified as the process that allows to capture, process and transfer knowledge so that the organization could achieve a greater competitive advantage (Wallace, 2007, 3). Therefo re, it is clear that the definition of knowledge management in a particular case depends on the priorities that a company sets and the goals that it wants to achieve. Modern U.S. Business Sphere and Knowledge Management Practices: An Overview Grown into a massive set of theories with an even greater number of ideas concerning its practical applications, knowledge management seems to have become a cult principle in the present-day business world. Hence a plethora of various types of knowledge management practices, as well as the interpretation of their effects and the discussion of their impact on the organizational ensued.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Taking a closer look at how knowledge management practices are implemented nowadays, one can possibly evaluate their effect, consider their limitations and come up with the suggestions for their possible improvement. Types of Knowledge Management Practices Knowledge management comes in different variations depending on the type of an organization, the specifics of the chosen leadership strategy, the organizational culture, etc. Therefore, one can distinguish a large variety of knowledge management types. However, it is worth noting that of all the possible types, five key knowledge management practices for organizations can be distinguished. According to Gray and Chan, there are typically four types of knowledge management practices distinguished. It is worth noting, however, that the classification below is based on considering a knowledge management practice as a tool for a problem-solving process. Encouraging Serendipity Though the given practice should be viewed as a means of wo rking with individual employees instead of a tool for shaping the knowledge processing stage within the entire team, encouraging serendipity is a crucial element of the knowledge management process nowadays. While it is important to provide a solid basis for the assumptions so that the company could make the right step, it is also necessary to encourage serendipity among the organization members. Often based on a small detail that passed unnoticed yet left an impact on a person, serendipity allows to consider all the existing options and sometimes even provide the option that has never been noticed before. Creating Knowledge Opposed to the process of informing the members of an organization on a specific issue, the process of knowledge creation can also be considered one of the most popular modern business practices. Another important knowledge management practice, creating knowledge is often confused with acquiring knowledge, mostly due to the meaning of the word â€Å"creatingâ⠂¬  as a synonym to â€Å"making.† Knowledge creation, however, does not mean that knowledge is somehow produced; in fact, knowledge creation is the process of transforming tacit knowledge into explicit one, as Nakamori (2012) explains, the entire process presupposes the transformation of individual tacit knowledge into group tacit knowledge, which is then shaped into an individual explicit knowledge and finally becomes an individual tacit knowledge. Raising Awareness The given type of knowledge management practice can also be considered the approach suitable for individuals rather than for shaping the relationships among the entire staff. Aimed at helping every single member of the team recognize a specific problem, the given practice aims at capturing and retaining knowledge rather than sharing and distributing it. At present, such types of knowledge management practices include the creation of databases, analysis of reviews and the lessons learned, etc. Therefore, the giv en approach can be considered as the means to improve the organization memory rather than the method to share a specific bit of information with the rest of the company members. Quiet an efficient tool, though, it should be used along with the rest of the practices mentioned in the given paper. Along, however, the given approach is unlikely to lead a company anywhere. Acquiring Knowledge In contrast to the previous two practices, knowledge creation concerns every single member of the company staff. It is crucial to realize that knowledge must be accessible for every single member of an organization; otherwise, the lack of information will inevitably lead an organization to failure. Therefore, the most important stage in the given process is to provide the access to the information since the very moment the knowledge was acquired. Consequently, it is required that every member of an organization should participate in the process of knowledge acquisition. The given practice is usually used to make the members of an organization closer, as well as increase their awareness of a specific issue. As it has already been mentioned, it would be worn to assume that the types of knowledge management listed above are the only possible options. The choice of a particular type of knowledge management or a combination of types is predetermined by a large number of factors, both interior and exterior ones, which means that, at the end of the day, the right choice of knowledge management strategy depends on a careful evaluation of these factors, as well as the organization’s current goals. Effects of Knowledge Management Practices Knowledge management practices are nowadays considered the key to an organization’s success – or, on the contrary, its complete failure, depending on whether the choice of a specific knowledge management practice was justified by the organization’s goals and assets or not. Apart from the direct influence on the company†™s performance, knowledge management practice also affects the relationships between the members of the staff, shapes the company’s strategy and has a tangible impact on the corporate values. Therefore, it is necessary to evaluate the extent to which knowledge management influences an organization. KM Practices and Organizational Culture As it has been mentioned above, knowledge management practice is related directly to the organizational culture; moreover, these two elements seem to have an effect on each other, becoming, therefore, mutually dependent. A specific KM practice can affect the organizational culture; in its turn, organizational culture predetermines the choice of a knowledge management practice. KM Nomenclature in Modern U.S. Business Needless to say, since the idea of knowledge management was introduced into the U.S. business, much has been changed, including the manner of classifying the existing types of knowledge management. At present, the following type s of knowledge management can be found in contemporary American business: Internal Knowledge Management Used to improve the organizational performance of the staff, internal knowledge management presupposes the efficient distribution of the information concerning the organization among its members. Knowledge Dissemination Knowledge dissemination involves creating knowledge in order to represent an organization and make it competitive. With the help of the transformations described above, tacit knowledge possessed by a group of people is turned into a tacit knowledge that an individual has concerning a specific issue. As Dalkir (2005) says, â€Å"Dissemination works best when it is an organized activity† (93). Knowledge Brokering Knowledge brokering demands tracking the source of information, evaluating its veracity and value. Hence, the idea of knowledge brokering can be summarized by saying that it means tracing the origin and source of specific information. Thus, an organiz ation can have a better control over the available information, which is another upgrade in the knowledge management practice development. Building Knowledge Capacity Building knowledge capacity means raising the members’ ability to operate the information that is currently at their disposal. Indeed, sometimes searching for the necessary information and the ability to process it fast and efficiently is not enough. It is also required to use the knowledge appropriately, which building knowledge capacity teaches. Knowledge Management in the Global Environment: An Analysis When analyzing the process of knowledge management in an organization, one must keep in mind that modern companies work in the environment on which globalization has taken its toll and, therefore, shapes the process of knowledge management greatly. On the one hand, the fact that information can be accessed much faster and in a much easier way is doubtlessly a benefit. On the other hand, such openness leaves an organization extremely vulnerable towards the external factors, competitors and hackers. Hence, the entire palette of opportunities and threats must be viewed. Capturing Organizational Knowledge: The Threats There is no doubt that the key stage in gathering information is the very start. At this point, such crucial questions as what sources are the most trustworthy, what kind of information is necessary for the given project, where exactly the given information can be found, etc. are solved. Since globalization has shaped the existing information sources considerably, the process of capturing information has become both easier and at the same time more challenging. Retaining Organizational Knowledge: The Challenges What might seem the easiest task often presupposes dealing with the greatest amount of issues, a case in point being the task of retaining information. While keeping organizational knowledge does not presuppose carrying out any specific actions compared to the process of getting information, it is still very painstaking, mostly because of the necessity to have clear links between every bit of information. Accessing Organizational Knowledge: The Methods As soon as the necessary information has been located, obtained and arranged, it is essential to thin through the methods of accessing the given data sets. While in the global environment, accessibility has become the key asset of most information, it is still important to keep in mind that the required data must be secured properly. Using Organizational Knowledge: Winning the Competition The last, but definitely not the least, the stage of putting the stored information to practice has become quite complicated in the realm of global economics and business. Because of high competition rates, it is important to know exactly how, when and where to use the information in question appropriately. The Future of Knowledge Management Though at present, theory of knowledge management seems rather innovative a nd offering brand-new approach, it is quite predictable that the Theory of Knowledge as people know it today is going to be very dated in the next few years. According to the latest information concerning the possible changes that the knowledge management is going to face in the future, it can be assumed that three major innovations are going to be implemented. Anticipatory Delivery of Knowledge Globalization has set the entire world to a completely different pace. Every single process has become times faster, therefore, demanding that organizational operations should also consume as little time as possible. Therefore, it is essential that the members of an organization should be able to develop their anticipatory skills. Anticipating the on-coming information is especially important because of its availability. With the progress of the Internet, information can be obtained within milliseconds, which means that the perceptual speed becomes the decisive point in the competition. Conn ection between People In the world where globalization has taken its toll on the realm of business, it is necessary to understand that members of a specific organization can be miles apart from each other. Therefore, the need to introduce efficient connection between people arises. With the help of the latest technological innovations, the given goal becomes quite attainable. In the light of stiff competition, which most companies face nowadays, the ability to transfer information quickly is worth its weight in gold. Connected Knowledge Being able to gather information and process it quickly is important, yet there is one more crucial element of the process, i.e., putting the pieces of the information together. Facts rarely come in a full package – often one has to search for scraps of data and only then collect them into a whole. Hence the new trend in knowledge management, connected knowledge, comes. Aimed at keeping all the available bits of information so that they could be easily re-arranged if one more bit reinvents the entire perception of the issue in question, the principle of connected knowledge is definitely worth developing further on as a guiding principle of knowledge management in modern U.S. business. Research Findings Summary and Interpretation Judging by the above-mentioned evidence, the key problem of modern knowledge management stems from the total availability of information, which leads to complexities of filtering and evaluating it. In addition, the research has shown that knowledge management practice must be considered in the context of the factors surrounding it. While the modern idea of knowledge management practice can be referred to as a people-focused, it still revolves around a number of other aspects, such as the type of organization, the specifics of the organizational culture, the leadership style of the head of the company, the size of the organization, etc. However, the focus of the knowledge management practice still seems to be on people rather than on anything else. Because of the influence that globalization has on organizations nowadays, it is important to make sure that every single member of the organization or its affiliate, no matter in what remote corner of the Earth it might be located, should know about the latest changes in the company information to deliver adequate performance. Therefore, the focus on people, which most present-day organizations prefer to the rest of the approaches, seems more than reasonable. It is noteworthy, however, that the current knowledge management practices display two diametrically opposite tendencies, i.e., the tendency to focus on an individual as opposed to the focus on the team. Logically, for the successful implementation of the company goals, both techniques must be applied; the priority, however, depends on the specifics of information distribution within a company. Conclusion: Paving the Road to Better Knowledge Management Although the theory of knowledge management is relatively new, it has already grown into a huge set of concepts, building up to the introduction of the KM concept in the globalized environment and providing the foil for the development of new theories. Incorporating the previous experience with the new ideas, one can possibly come up with a perfect strategy for knowledge management; however, the problem is that the given suggestion will only last for as long as the environment in which it was created will. Therefore, the basic goal for the knowledge management theorists at present is not to suggest a perfect knowledge management strategy, but to make sure that the current strategy is being constantly updated according to the latest changes in the data. Thus, one can rest assured that the organization will keep running for quite a while. Reference List Becerra-Fernandez, I. Gabherval, R. (2009). Knowledge management: Systems and processes. Armonk, NY: M. E. Sharpe. Dalkir, K. (2005). Knowledge management in theory and practice. Burlington, MA: Elsevier Butterworth–Heinemann. Nakamori, Y. (2012). Knowledge science: Modeling the knowledge creation process. Broken Sound Parkway, NW: CRC Press. Snyder, C. A. Wilson, L. T. (2000). Implementing knowledge management: Issues for managers. In Information Resources Management Association International Conference (Ed.), Challenges of information technology management in the 21st century: [Proceedings of The] 2000 Information Resources Management Association – International Conference, Anchorage, Alaska, USA, May 21-24, 2000. Hershey, PA: Idea Group Publishing. Thierauf, R. J. (1999). Knowledge management systems for business. Westport, CT: Greenwood Publishing Group. Wallace, D. P. (2007). Knowledge management: Historical and cross-disciplinary themes. Westport, CT: Greenwood Publishing Group. This research paper on Knowledge Management: Practices as Found in Contemporary American Business and Management was written and submitted by user Zackery Acosta to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.