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Master of Business Management Case Study

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  • Subject: Computer Science
  • Number of Words*: 5000
  • Citation/Referencing Style: Harvvard

 

FORMATIVE ASSESSMENT 1                                                                   [100 MARKS]

 

Read the article below and answer questions ALL questions that follow The Role of Knowledge Management in the Retail Industry

 

All retailers have an extensive database of knowledge resources. Discovering, organizing, and leveraging them requires a combination of the right processes, company culture, and technology. Understanding the role of knowledge management is the first step toward streamlining your operations.

Retail is the largest private sector in the world. To rise above the vast competition, retailers must have well-trained staff, provide an exceptional customer experience, and continually monitor evolving customer preferences and behaviors. A smart approach to knowledge management can provide that competitive edge.

Among other benefits, knowledge management allows leaders to:

  • Improve staff training
  • Centralize and deliver customer insights to business decision-makers
  • Provide accurate and up-to-date information to frontline employees

Retail businesses can use a knowledge management platform to centralize and democratize knowledge, making it available across their corporate offices, contact centers, and stores so that everyone can access the same up-to-date information.

Source:  https://bloomfire.com/blog/knowledge-management-in-retail/

Note: All answers to be based on a chosen retail company/business

 

QUESTION 1                                                                                                                                    (25 Marks)

“Retail businesses can use a knowledge management platform to centralize and democratize knowledge, making it available across their corporate offices, contact centers, and stores so that everyone can access the same up-to-date information.” Based on a retail company of your choice, analyse the factors the chosen retail company/business should consider when implementing a knowledge management system.

 

QUESTION 2                                                                                                                                    (25 Marks)

“All retailers have an extensive database of knowledge resources.” Suggest a suitable knowledge management system/platform for the chosen retail business. Elaborate on why the suggested knowledge management system/platform is suitable for the chosen retail business.

 

QUESTION 3                                                                                                                                   (25 Marks)

“Discovering, organizing, and leveraging them requires a combination of the right processes, company culture, and technology.” Critically analyse relevant artificial intelligence knowledge management-powered tools/systems for the chosen retail company/business. Include in your analysis the beneficial aspects of the AI knowledge management-powered tool/system for the retail company/business.

 

QUESTION 4                                                                                                                                    (25 Marks)

“Understanding the role of knowledge management is the first step toward streamlining your operations.” Provide recommendations on building an effective knowledge management system for the chosen retail company/business. Suggest features you will include in the knowledge management system and provide reasons on why the features would be beneficial to the retail company/business.