Isy3005 Knowledge Management: Case Study Assessment Answers
Project - Knowledge Management Case Study
Each topic has three components – an organisation, an IT KM initiative and a business case.
Your task is to describe all three components. The case study only gives a brief outline. Use Internet based resources to research the organisation and the IT initiative. You will need to use your imagination to formulate the business case.
Part A - Briefly describe the organisation. What is the ownership? What goods or services are provided? What is the recent financial performance? What is the mission, strategies and priorities? Who are the main competitors? What are the major market trends? What are the major stakeholder requirements?
Part B - Briefly describe the IT KM solution chosen. What is the new functionality and capabilities delivered by this solution? What processes are affected? What are major benefits? Which knowledge workers benefit? How?
Part C - Given a knowledge of the context (Part A) and the solution (Part B), infer the business case for the solution. What were the business goals for the IT project? What are the success metrics? Is there a financial justification in terms of ROI, Payback and Net Present Value? How should the solution continue to evolve in the future? (You will need to use your imagination and make explicit assumptions for this section.)
Answer:
Introduction
Knowledge management system actually defines any or every kind of system related to IT that uses to retrieve and store knowledge, improves communication and collaboration, locates the sources of knowledge and uses to capture and utilize knowledge. On a precise note it enhances the effectiveness of the knowledge management process. The knowledge management system uses to be made up of various software modules permitted by the user interface. Most of the features of this system supports data mining regarding customer histories with the scope for sharing electronic documents. This system can actually serve the purpose of better sales, helping decision making and business growth. This report has presented a view of how the company Baker Botts has improved its business effectiveness and growth by implying the system.Part A
Overview and ownership of the organization
- Baker Botts is one of the famous and renowned law firms based on United States that is consisted of 725 lawyers and holds a well reputed background of important political connection and a large number of client database.
- The company has its headquarters at Downtown Houston in Texas along with 15 branches all over the world.
Company ownership
Andrew M. Baker is the current managing director of the company. They are associated with a prestigious group named Lex Mundi which is comprised of 160 different and renowned law firms internationally. The association with the group has helped them to serve their clients better and more profoundly by giving them the immediate and required access to several of the law firms globally. Baker botts actually serves the Lex Mundi group for Texas. It has been associated with a council as well namely “The Pacific Rim advisory” which is also an association of global law firm having exclusive strategic alliance in the international legal community that provides the exchange related to professional information within its top 30 tier members of law firm.Service provided
- As a law firm Baker Botts commits their talents and energies to be the most trusted and valued advisors to their clients by presenting them effectively in the market all over the world.
- They define a continuous effective and unremitting effort of the lofty professional standards for the service provided to the clients.
- They mainly deal in the industrial area of finance and banking, Natural resources and energy, technology and manufacturing.
Financial Performance
- As one of the leading global law firms Baker botts has been able to generate an exceptional revenue by every year end.
- In the year 2016 the gross revenue of the firm had been increased with a 20% profit that is exactly of 846.5 million dollars. The net income has been risen to 434.8 million dollars that counts the increase of approximately 44.5%.
- The profits regarding the sphere of the partners has been increased by almost 37% as 2.465 million dollar per head. The revenue has been risen up to 18% in the year of 2016 which has made it topped the million mark of $1.0.
Mission, Vision and strategies and Main Competitors
- The main motto of the company Baker Botts is to serve their clients with the best advices.
- The firm holds a vision of treating its client with utmost care in advising proper solution to them.
Mission and Vision
Nowadays in such a competitive world everyone has competitors. In this case Baker Botts has some parallel and similar companies that challenge them a good competition. “Sullivan & Cromwell”, “Davis Polk Wardwell”, “Simpson Thacher Barlette” are some of such companies that use to promise a gruesome threats to the company with their services.Major market trends and Stakeholder requirements
- The market trend is said to be a tendency in financial market to grow in a specific direction.
- These kind of trends have been classified into two categories such as frame of long time and frame of short time.
- By using the every tool Baker Botts has also strategies their plan and market trend which signifies a definite growth for them.
- As Baker Botts has been considered one of the best law firms therefore, it definitely establishes an obvious market position in the business market of law firms.
- The needs of stakeholders and the requirements actually demonstrates the picture of the people of business operations level.
- It includes users, customers and some other stakeholders in the regard of relating to the same opportunity or the problems well.
- For the proposed solution a bunch of requirements get set that can promise the service that is needed by the stakeholders in a told situation or environment.
Market Trends
A guidance of analyzing tools and other cycles stakeholders use to frame a structured procedure to eradicate the problem. In some of the casers chances are high that these actions needed by the stakeholders can be transformed into another redefined structure of documented requirements that are used to be called as a model on the specific zone or sphere. In the section of stakeholders’ requirement it focuses on the matter of addictive manufacturer of diesel fuel with Texas commission about the environmental quality as the treatment of the fuel should meet requirements of low emission program of Texas. The stakeholders in this matter should meet the needed achievements and desired goals.Part B
IT KM solution selected by Baker Botts
- A development has been noticed by the company Baker Botts in the sphere of knowledge management solution.
- The company has developed a system of iManage cloud and deployed it to the employees of their 15 branches all over the world. The [primary and starting feedback for the development has been proven positive.
- It does not take even24 hours to transit a weekend.
- The iManage cloud has served them the best opportunity to increase the agility of the organization and to randomly deliver the modern and innovative ideas to the stakeholders of the company.
- The cloud has been developed by the assistance of iManage professionals and their services. The process of the implementation has not taken much time and was not complicated at all.
- The journey from implementing the system to go live with it just has taken a short period of time of 90 days. The system was user-friendly in a great extent and that was why it did not require any training program or session for the workers to adopt it.
Knowledge management strategies
The IT department of the company has analysed every aspect of it at declared its quantifiable benefits in the sphere of its getting associated with the cloud system. An example can be served here about the firm that it has reduced almost 20 servers from the bank that actually needed much time and effort to the routine task such as datacenter maintenance. By implementing this system of iManage cloud Baker Botts has managed to give the professionals a great and powerful functionality and to deliver an unmatched agility, higher scale of performance and reliability. In analyzing every aspect of these outcomes, they have been sure of the benefits that have been provided with the implementation of iManage cloud system in Baker botts.New capabilities of the solution
- The iManage cloud system has helped the company Baker Boptts in terms of various aspects and dimensions.
- It has made it easier to perform their task with less given effort than before. The data management process has been easier and and got accessible from anywhere.
Sphere of getting affected
- Though the iManage cloud system has improved the entire working system of Bakers Botts, It has some disadvantages as well.
- The cloud system cannot guarantee the immunity of service outages. As this kind of systems are fully based on the internet, so the operation will be the question of good internet connection.
- The system is a hardware and it can fail or corrupt by any time with a million of reasons.
- In this specific sphere The Company can get back footed in the tome of poor internet connection or the system failure. As this is a system it needs some privacy maintenance factors to safeguard the confidential data of the company.
Elements that can have impact
- Any dispute noted in the security and privacy sector can be proven fatal to the company Baker Botts.
- For the reason cloud system is only operated with the association of internet connection, therefore, it generates high risk of losing data by virus attack
- In various cases the users get the limited control over the system which can again restrict the working zone for the employees in the company.
- Therefore, though Baker Botts is facing the issues with the system, beyond that it has been satisfied with the positive changes it has made for the entity.
Major benefits and Knowledge worker benefits
- The iManage cloud system has several benefits with which Baker Botts has been enriched and been able to improve their efficiency to serve their clients and customers.
- Elasticity and resource pooling
- Self service
- Price
- Service Quality
Part C
IT Km system, iManage cloud and Baker Botts
- Any business firm can enjoy a list of advantages when it has adopted a certain system of knowledge management that eventually promotes and defines applications of knowledge management and knowledge communities.
- The system can focus on the knowledge and community outcomes of the required level.
- The system regarding knowledge management can do wonders in terms of improving the system of content governance and information governance, if it can be implemented properly.
- In the course of getting assisted by it a company can avoid sprawl where data increases faster and quicker than they can be managed.
Importance of IT in Knowledge Management
- This picture can easily give rise to the situation of inefficient, disorganized and disconnected and often unusable resources regarding knowledge.
- The system can play a great and effective role of improving the service of the company by improving the communication system of it.
- For instance Baker Botts, the leading law firm of USA has adopted the system of iManage cloud for their company which eventually has promoted the business growth.
Business goals for the IT project
- The Company Baker Botts has celebratedly adopted and accepted the system of knowledge management by implementing the iManage cloud system in the company.
- A certain set of business goals were associated with the implementation as they have made it applied for gaining some fruitful results that will be helpful in increasing the business growth.
- They had a goal of magnitude improvement which will be dynamic and cost effective as well.
- The system has served them with the idea of going faster better and ofcourse cheaper. In most of the cases the system has promoted a cos effective deal ande environment for the adopting company.
- Henceforth it is crystal clear that cloud system has made the concern Baker Botts a definite embodiment of effectiveness and efficiency in the matter of data tracking and going flawless in this regard.
Success metrics and financial development
- It is needless to say that iManage has changed the entire working process of the company Baker Botts.
- It has made the process even easier to handle the data and documents in the course of working in a global platform.
- The cloud system has generated a way of emerging concept of virtualization that has allowed the employees to operate and access their data from anywhere and anytime.
- This feature has made the company more than 100% efficient as having access to own data for anyone can be a favorable condition for success.
- The implementation of the system has made the company to generate more profitability in the sphere of financial gain.
- The assistance of the iManage system has managed to fetch the revenue per every lawyer to increase to almost 18% which in total is 1.195 million dollar.
- Therefore, it does not require much to discuss about the matter whether the system has managed to accumulate success for the company or not.
The significance of the system for the future business growth
- Adopting the cloud system that is closely connected to knowledge management has been proven a great deal of success for the company Baker Botts.
- It has accessed the system for securing and governing the section of collaboration and file sharing. On behalf of the company the system has managed to govern the data record management and project achieving.
- The system has allowed to be accessed from the mobile device as well, by the feature of iManage mobility module. Control center of the adopted system iManage has facilitated the company to administer and monitor the ongoing management and deployment regarding iManage environments.
Future growth
- The total system has facilitated the entire company with enough saved time to go on with strategies and highly valued activities.
- Analysing the every benefits and positive changes it has made for Baker Botts, it can be finally said that the system will fetch more success or them in the future.
- An association with the iManage cloud system therefore, has been an influential deal for the renowned law firm Baker Botts.
Conclusion
- It can be comprehended by the mentioned point of the above study that the system of knowledge management can give the organizations a systematic and effortless working environment that can even ensure the product or service quality. On the whole it can increase the efficiency of an organization which can lead to a positive and promising business growth for the company. The instance of the Baker Botts here has served the purpose of displaying the advantages of accepting the cloud system in terms of improving its efficiency and service quality. By implementing the iManage cloud system it has managed to be able to ensure the dealing of millions of data and documentations secured. The system has offered a better information and communication system for the whole company that has been proven a great benefit to them in terms of quality service providing.
References
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- Coronel, Carlos, and Steven Morris. Database systems: design,implementation, & management. Cengage Learning, 2016.
- Dayan, Rony, Peter Heisig, and Florinda Matos. "Knowledge management as a factor for the formulation and implementation of organization strategy." Journal of Knowledge Management21, no. 2 (2017): 308-329.
- Galliers, Robert D., and Dorothy E. Leidner, eds. Strategic informationmanagement: challenges and strategies in managing information systems. Routledge, 2014.
- Gangwar, Hemlata, Hema Date, and R. Ramaswamy. "Understanding determinants of cloud computing adoption using an integrated TAM-TOE model." Journal of Enterprise Information Management28, no. 1 (2015): 107-130.
- com. “Content Document and Knowledge management”. 2018
- Laudon, Kenneth C., and Jane P. Laudon. Management informationsystem. Pearson Education India, 2016.
- Masa’deh, Ra’ed, Rifat Shannak, Mahmoud Maqableh, and Ali Tarhini. "The impact of knowledge management on job performance in higher education: the case of the University of Jordan." Journal of Enterprise Information Management30, no. 2 (2017): 244-262.
- Power, Daniel J., Ramesh Sharda, and Frada Burstein. Decisionsupport systems. John Wiley & Sons, Ltd, 2015.
- Rittinghouse, John W., and James F. Ransome. Cloud computing:implementation, management, and security. CRC press, 2016.
- Wang, Sheng, Raymond A. Noe, and Zhong-Ming Wang. "Motivating knowledge sharing in knowledge management systems: A quasi–field experiment." Journal of Management40, no. 4 (2014): 978-1009.
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