Strategic knowledge base: Hospita Novela and the Competitive Strategy - Essay Prowess

Strategic knowledge base: Hospita Novela and the Competitive Strategy

Strategic knowledge base: Hospita Novela and the Competitive Strategy

Before we measure something we must ask whether we understand what it is we are trying to measure

Strategic Systems Thinking (University of South Wales)

UNIVERSITY OF SOUTH WALES BUSINESS SCHOOL

Strategic system Thinking (ST4S39) Lecturer: Kapil Kathuria(PhD)

SUMMATIVE      ESSAY

 

“Before we measure something we must ask whether we understand what it is we are trying to measure.”

(Gray et al, 2015). AKINMO   ADEBAYO

28th November 2018 Title:

Strategic knowledge base: Hospita Novela and the Competitive Strategy

Keywords:

St  ategic Knowledge; Strategic Thinking; Measurement; Lifecare hospital.

Abstract

Strategic system thinking cannot stand firm without good grasp of strategic knowledge base. Knowledge is the tripod on which strategy stands as there is no strategy without a knowledge of what we are trying to strategise about just like Gray(2015) put forward that before we can measure something accurately, we must ask ourself if truly we undertand that which we are trying to measure.

A lot of frameworks have been put in place to describe and understand the place of knowledge system in business system design (BDS) and strategic system thinking (SST). This paper aims to shed more light on the place of knowledge in strategy formation in an organisation setting. The paper also intends to intergrate the interactions and relationships of knowledge management, communities of Practice/Interest, the challenge of performance measurement, intellectual capital and social networks in developing a hybrid strategy for the organisational competitive edge, competitive advantage and organisation long term survival.

Knowledge is a sine qua non for life, as it is an essential commodity for creativity as an offshoot of creative thinking. Through wisdom the earth was created is a popular verse in the Christian book, the Holy Bible. Knowledge is power, knowledge is health, our complex yet dynamic world is a product complex adaptive system and our survival is made possible through complex co-evolving and co-adapting with this complex system. With knowledge, wisdom and adaptive, we are likely to become extinct soon due to global challenges of war and social vices,crimes including terrorism and cybercrimes, pestilences, diseases, natural disasters, financial and economic downturns among others.

Introduction

Many values cannot be accurately measured which prompted Albert Einsten to sugggests that measurement in science is about estimation and approximation, science lacks exactnesss and Heisenberg’s uncertainty principle stipulates that the more accurately we are trying to measures a variable, the more uncertain it is to measure another aspect of life. These statements can be extrapolated to business world with some degree of accuracy. But even the values that seems to be invisible and virtual has some hidden values that can be developed, improved upon and measured with some degree of accuracy and before we could meaures such hideen values in an organisation, we must first understand in great depth what it is that we are trying to measure (Gray, 2015). The hidden values in an enterprise that are improtant and need to be measured includes the intangible assets called Intellectual capital, IC. The latter comprises of social capital, human capital and the knowledge base of the establishment.

Wenger and Snyder (2000) suggests that todays business is standing on the tripod of knowledge base. In order to grow and compete well with the current market challenges, an organisation must always aspire to strengthen its knowledge base. This view can be observed in Arrow (2000) opinion that new generation companies are adopting Knowledge Base View (KBV) to run their organisations. The question to confront here is that if knowledge is abstract, how then could it be measured accurately. I don’t think measuring the knowledge is however the bone of  contention here but being able to sustantiate the intrinsic value and role that knowledge plays in the survival and growth of an enterprise.

Methodology

The methodology to be employed in the paper will primarily be based on review of past literature as related to strategy formation and performance measurement in an organisation. Most of the literatures to be consulted will be assessed through online scholarly search engines such as google scholar and world wide web.knowledge management and intellectual capital is a novel and evolving subject but a lot of work and write-ups are spiining out daily on these important subjects as they are the new promise land of business revolution and globalisation, transcultural trade, unpredictable natural occurences and dynamic landscape have been the order of business in modern century.

Discussions:

Knowledge management

To emphasize the place of knowledge in our daily activities and the business world , Van den Berg has added knowledge as one of the factors of production where he lay importance to knowledge measurement as a yardstick to achieving business prosperity and competitive advantage. In his words,

Knowledge may help managers to determine the most economic combination of knowledge to use in

production; transfer knowledge more effectively within and across organisational boundaries; determine

the most economic location of firm boundaries; and ensure value is appropriated for the firm”.

Drucker (1993) and Arrow (2000) have also proposed that knowledge be considered as a factor of production.

Herbert A. Simon (1999) opined that that knowledge plays an indispensable role in economic processes, failure to measure knowledge accurately has a sinister effect on the business processs.

For any enterprise to fully explore and achieve its growth potential profitably it must invest its time and ene

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