Knowledge Management Business Context and Ecommerce †Free Samples

Question: Discuss about the Knowledge Management and Ecommerce. Answer: Introduction Knowledge system is an important part of business process which helps to utilize and share all important information related to the business. It is regarded as a multidisciplinary approach to achieve organizational objectives and make best use of the business information that is available to the organization (Kersting et al., 2016). Lin (2014), has mentioned that knowledge system can be applied in all departments of the business. The current assignment focuses on application of knowledge system in e-commerce Department of Business in QBE insurance group. The relevant theory is related to ecommerce and knowledge system is also mentioned along with the strength and weaknesses. The study also focuses on the application of e-commerce and knowledge system in the business process of QBE insurance group. The strength and weakness of the application of the theory is also mentioned. Theories related to Knowledge Management and Ecommerce With the advancement of digital technology E-Commerce business is one of the most popular forms of business activities that are used by all private firms to expand their domain of marketing. The main objective of e-commerce business is to sell service and products through online mode. E business is also an important part of e commerce in which all mode of business communication. The E-Commerce business involves processing of high level of information and also adapts the policies of information processing system. In this context Zaman and Wee (2014), have added that the use of the e commerce request application of the knowledge system in business which can help in the overall process of Business expansion. According to Monteiro et al., (2013), electronic data interchange is an important system which interpret the data about E-Commerce and digital technology that is applied in the business. Large scale business organizations have their own operating system to share and process information with the help of electronic data interchange process. The growth of Internet and digital technology has resulted in the creation of 20 million house and web service along with 500 million web pages of web content all across the globe. There are various business enterprises which use the principles of e-commerce and also have become the primary competitor in this department (Monteiro et al., 2013). Shiau and Dwivedi (2013), have suggested about the various ways of knowledgemanagement in e-commerce business which helps to demonstrate the capability of the system. The primary step of knowledgemanagement in e-commerce is to create the knowledge which can encompass the processes and existing knowledge in the same context. With the help of this policy a company can decide upon which information to be shared to the public and which needs to be processed before it is used in the business. It is important for all business enterprise to look forward and create new knowledge in order to expand the capability of e-commerce business. The next step in the knowledgemanagement is to transfer of information which can address all the questions related to the business and also raise the awareness about importance of e-commerce business. Finally the knowledge is being applied into mechanism which helps to employ the information. The knowledgemanagement system functions as a continuous feedback of information which helps to create and materialize the required data for ecommerce business. The processing of the knowledge is an important application in the overall system which ensures that all the required data for operational management is fulfilled. Palopoli et al., (2013), have mentioned that it is important to analyze individual business scenario in order to prepare plan for knowledge management system that can be applied in e commerce business. With the help of most of business activities, it is possible to control the overall process of the ecommerce business activities. Strengths and Weakness of Knowledge Management and ecommerce The high level of investment that is done on information technology in the modern days is the biggest strength of the knowledge management system that can help in the operation of e-commerce business. With proper information and knowledge management system is possible for a business organization to gain competitive advantage among the Rivals. The design of the knowledge management system helps to provide access to several company information for the stakeholders. Proper management of information system also reduces the risk of missing out information in business planning process. The QBE insurance company can use this information system to provide vital information and knowledge to all the clients regarding all major schemes of insurance in their websites and digital media platforms. Proper use of the modern technology in the business can also ensure that business process is optimised along with the operation management process. It can also allow the business process operate in 24 ho urs a day, which can increase the chance of seeking more customers. It can be also be used to estimate all the statistical information like profit margin growth rate and the value of company share. In order for a business enterprise to meet all the technological demands of an area use of e-commerce business and knowledge management system is one of the vital parts. The high level of social impact is the main negative side of knowledge system that is used in e-commerce business. According to Qu (2015), the use of e-commerce and information system involves processing of high amount of data. It can be said in the context that most of the data are being processed using the automatic system where there is risk of eliminating important information and also use of false information to publish inaccurate results. The language that is used in the knowledge system is also a cause of major issue. As all the information is processed using digital form of Technology, there is high chance of misinterpreting the code language that is used in the knowledge system. The data structure of the information system concept of complex level of calculation which requires high level of skills for decoding. As false information is being published in the internet, there are risks of the information being leaked to the rival organization, which can be misused and perform all types of unethical activities. Application of Knowledge Management and ecommerce in QBE insurance group Being one of the premium insurance companies, the QBE group has to deal with diverse form of information and data that needs to be processed for further use for the application in the ecommerce department. The operation of the company is also spread in multiple locations. Has the knowledge system needs to collect data from different locations which can be applied for information processing system. The overall structure of the business with high level of transparency can help to imply the knowledge management system in order to provide information for E-Commerce business to the clients. Being one of the largest insurance companies of Australia it has great strength of employees. It is therefore recommended for the company to use high level of Information Technology software in order to process all the vital information regarding the employees and the performance status. In order to expand The E-Commerce business the company needs to ensure that the profile enough information in their websites which can help all customers to get vital knowledge about all insurance schemes and policies. As the company is offering different types of Insurance Scheme, they need to have different section in their website to provide accurate and correct information about each and every scheme of insurance. As the company is planning to expand their E-Commerce section, it is important for them to provide option of buying the insurance schemes and also pay the regular coverage through online mode for the customers. In order to encourage people to use the online payment facilities the company can provide special offer of new schemes and new benefits in the e Commerce section. As the company has long term plans of making investment and also ensures that all the people are covered under the schemes of insurance, it is important for them to have effective and sustainable future for the plans that will help them in the process of expansion of the business. With the help of the effective knowledge management system, it is possible for the company to provide effective information related to all the detail information about the quality of the service. It is also possible to deal with the vital information related to the change in the company policies about getting information. Conclusion With Rapid rate of development in the information technology the use of effective knowledge management system is one of the essential parts of major operations in business. The use of effective knowledge management system is one of the best ways to deal with all E-Commerce business and also online business communication. The fast ranges of information and data that are required in the business operation need to be processed efficiently and accurately in order to make better marketing plans. The application of knowledge system can help QBE Insurance Company vital opportunity to expand their business and also provide full support to the customers through online forms. References Kersting, N. B., Sutton, T., Kalinec-Craig, C., Stoehr, K. J., Heshmati, S., Lozano, G., Stigler, J. W. (2016). Further exploration of the classroom video analysis (CVA) instrument as a measure of usable knowledge for teaching mathematics: taking a knowledge system perspective. ZDM, 48(1-2), 97-109. Lin, Z. (2014). An empirical investigation of user and system recommendations in e-commerce. Decision Support Systems, 68, 111-124. Monteiro, J., Swatman, P. M., Tavares, L. V. (Eds.). (2013). Towards the Knowledge Society: ECommerce, EBusiness and EGovernment The Second IFIP Conference on E-Commerce, E-Business, E-Government (I3E 2002) October 79, 2002, Lisbon, Portugal (Vol. 105). Springer. Palopoli, L., Rosaci, D., Sarn, G. M. (2013). A multi-tiered recommender system architecture for supporting e-commerce. In Intelligent Distributed Computing VI (pp. 71-81). Springer Berlin Heidelberg. Qu, Q. X. (2015). Kansei knowledge extraction based on evolutionary genetic algorithm: an application to e-commerce web appearance design. Theoretical Issues in Ergonomics Science, 16(3), 299-313. Shiau, W. L., Dwivedi, Y. K. (2013). Citation and co-citation analysis to identify core and emerging knowledge in electronic commerce research. Scientometrics, 94(3), 1317-1337. Zaman, T., Wee, A. Y. (2014). Ensuring participatory design through free, prior and informed consent: a tale of indigenous knowledge management system. 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