Digital Transformation Sample Assignment (GC01639)
Table of Contents
1.0 Introduction.
2.0 Overview of JD Sports.
3.0 Critically evaluate how JD Sports undertakes knowledge sharing, seeking and creation/acquisition
3.1 Knowledge Creation.
3.2 Knowledge Sharing.
3.3 Knowledge Seeking.
4.0 Critically evaluate how the types of knowledge management systems are or could be used by JD Sports to support their KM activities and strategic decision-making.
4.1 Tacit knowledge to support their KM activities and strategic decision-making.
4.2 Explicit knowledge to support their KM activities and strategic decision-making.
5.0 Conclusion.
5.0 References.
1.0 Introduction
Knowledge Management refers to the process that supports a business in identifying, selecting, organizing, disseminating, and transforming essential information as well as expertise to meet organizational goals (Chait, 2016). According to Rai (2014), an effective knowledge management system helps a business in dynamic learning, decision making and problem-solving, strategic planning. Turban et al. (2011) said effective knowledge management practices acquire the knowledge required for businesses and leverage its value by reusing. Wah, L. (2013) stated that business knowledge is quite distinct from business information and data, where knowledge shows wider meaning than information and data. Business data refers to statistics, facts and measurements, where information refers to the processed and/or organized data that are accurate, time-oriented, actionable, relevant, and contextual.
According to McCune (2013), to be knowledgeable a business must have the ability to act and must have training and experience to solve problems in the workplace. Turban et al. (2011) said knowledge has a number of characteristics that are different from other assets of businesses. The key characteristic is that it provides increasing returns along with extraordinary leverage. Additionally, it provides the need to refresh, leakage and fragmentation. It also has uncertain values due to several intangible aspects creating challenges in estimating knowledge value. Further, it has rooted in time with volatility and perishability. This is because the value and utility of knowledge vary from time to time. This paper prepares a report on knowledge management practices in a particular organization called JD Sports. This paper, first, gives an overview of JD Sports. The second part of this paper critically evaluates how JD Sports seeks, creates, and share knowledge for its business. The third part of this paper critically evaluates how different types of knowledge management systems are used or can be used in JD Sports to support its knowledge management activities and strategic decision-making. Finally, this paper provides recommendations for JD Sports on knowledge management practices.
2.0 Overview of JD Sports
JD Sports is a famous brand and multi-channel retailer of fashion, sports and outdoor products. This business was established in 1981 in the UK with a single store. Now it has over 900 stores across the UK. It has been growing up with revenue and profits. It servers millions of customers every week by its over 50300 dedicated and devoted staff (Bloomberg, 2019). In 2018, it increased its revenue by 60.04%, where the industry growth was 9.65%. Additionally, it increased gross profit by 47.55%, operating profits by 7.34%, and net profit by 5.60% (Reuters, 2019).
3.0 Critically evaluate how JD Sports undertakes knowledge sharing, seeking and creation/acquisition
According to Turban et al. (2011), knowledge management initiatives by a business have three key objectives. First, businesses aim to make knowledge visible. In this case, businesses use hypertext, yellow pages, and maps. Secondly, businesses aim to develop knowledge-intensive culture. Finally, a business aims to create a knowledge infrastructure. McCune (2013) said there are several processes and activities in knowledge management practices that mainly include knowledge-seeking, knowledge-creating, and knowledge sharing.
3.1 Knowledge Creation
Knowledge creation refers to the knowledge acquisition and generation of new ideas, routines and insights (Turban et al., 2011). As part of knowledge creation, JD Sports empowers its staff to the best of their ability. Additionally, it provides an effective structure of learning and development in every part of its business. Chait (2016) said knowledge creation/acquisition is mainly categorized as internalization, externalization, combination, and socialization mode. In terms of socialization mode, tacit knowledge is transformed into new knowledge through shared experience as well as social interactions. For instance, breakout grouping, brainstorming and mentoring are considered under socialization mode (Tobin, 2017). In terms of JD Sports, it offers face-to-face training as part of the socialization mode.
In 2018, it delivered over 5000 hours of training across various programs including bespoke workshops, supervisor development sessions, management courses, leadership programs and academies. JD Sports also aims to expand its training departments with additional training rooms to increase knowledge creation in its business (JD Sports Annual Report, 2018). The combination mode is the creation of new explicit knowledge in business by synthesizing, reclassifying, categorizing, and merging current explicit knowledge. An example of this type of knowledge is the statistical analysis of market data (Wah, 2013). In the case of JD Sports, it has acquired 22 organizations as the knowledge combination mode. The most recent acquisition of JD Sports is Pretty Green that was done on 5 April 2019 (Crunchbase, 2018). The other acquisition of JD Sports is Footasylum, where the deal was worth £90 million (Nazir, 2019). These acquisitions have significantly supported JD Sports to create knowledge for its business…………………..
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