Before and after modelling:risk knowledge management is required

Risk and knowledge are two concepts and components of business management which have so far been studied almost independently. This is especially true where risk management is conceived mainly in financial terms, as, for example, in the banking sector. The banking sector has sophisticated methodologies for managing risk, such as mathematical risk modeling. However. the methodologies for analyzing risk do not explicitly include knowledge management for risk knowledge creation and risk knowledge transfer. Banks are affected by internal and external changes with the consequent accommodation to new business models new regulations and the competition of big players around the world. Thus, banks have different levels of risk appetite and policies in risk management. This paper takes into consideration that business models are changing and that management is looking across the organization to identify the influence of strategic planning, information systems theory, risk management and knowledge management. These disciplines can handle the risks affecting banking that arise from different areas, but only if they work together. This creates a need to view them in an integrated way. This article sees enterprise risk management as a specific application of knowledge in order to control deviation from strategic objectives, shareholders' values and stakeholders' relationships. Before and after a modeling process it necessary to find insights into how the application of knowledge management processes can improve the understanding of risk and the implementation of enterprise risk management. The article presents a propose methodology to contribute to providing a guide for developing risk modeling knowledge and a reduction of knowledge silos, in order to improve the quality and quantity of solutions related to risk inquiries across the organization.

Knowledge management and enterprise risk management implementation in financial services

This paper starts from the viewpoint that enterprise risk management is a specific application of knowledge in order to control deviations from strategic objectives, shareholders’ values and stakeholders’ relationships. This study is looking for insights into how the application of knowledge management processes can improve the implementation of enterprise risk management. This article presents the preliminary results of a survey on this topic carried out in the financial services sector, extending a previous pilot study that was in retail banking only. Five hypotheses about the relationship of knowledge management variables to the perceived value of ERM implementation were considered. The survey results show that the two people-related variables, perceived quality of communication among groups and perceived quality of knowledge sharing were positively associated with the perceived value of ERM implementation. However, the results did not support a positive association for the three variables more related to technology, namely network capacity for connecting people (which was marginally significant), risk management information system functionality and perceived integration of the information systems. Perceived quality of communication among groups appeared to be clearly the most significant of these five factors in affecting the perceived value of ERM implementation.

Making memories available:a framework for preserving rural heritage through community knowledge management (cKM)

While most of the research in Knowledge Management (KM) has focused on business communities, there is a breadth of potential applications of KM theory and practice to wider society. This paper explores the potential of KM for rural communities, specifically for those that want to preserve their social history and collective memories (what we call heritage) to enrich the lives of others. In KM terms, this is a task of accumulating and recording knowledge (using KM techniques such as story-telling and communities of practice) to enable its retention for future use (by interested people perhaps through KM systems). We report a case study of Cardrona, a valley of approximately 120 people in New Zealand's South Island. Realising that time would erode knowledge of their community a small, motivated group of residents initiated a KM programme to create a legacy for a wider community including younger generations, tourists and scholars. This paper applies KM principles to rural communities that want to harness their collective knowledge for wider societal gain, and develops a community-based framework to inform such initiatives. As a result, we call for a wider conceptualisation of KM to include motives for managing knowledge beyond business performance to accommodate community (cKM). © 2010 Operational Research Society.

Mobile case-based decision support for intelligent patient knowledge management

Hospitals everywhere are integrating health data using electronic health record (EHR) systems, and disparate and multimedia patient data can be input by different caregivers at different locations as encapsulated patient profiles. Healthcare institutions are also using the flexibility and speed of wireless computing to improve quality and reduce costs. We are developing a mobile application that allows doctors to efficiently record and access complete and accurate real-time patient information. The system integrates medical imagery with textual patient profiles as well as expert interactions by healthcare personnel using knowledge management and case-based reasoning techniques. The application can assist other caregivers in searching large repositories of previous patient cases. Patients' symptoms can be input to a portable device and the application can quickly retrieve similar profiles which can be used to support effective diagnoses and prognoses by comparing symptoms, treatments, diagnosis, test results and other patient information. © 2007 Sage Publications.

The essentials of knowledge management

This book reviews the field of Knowledge Management, taking a holistic approach that includes both "soft" and "hard" aspects. It provides a broad perspective on the field, rather than one based on a single viewpoints from Computer Science or Organizational Learning, offering a comprehensive and integrated conception of Knowledge Management. The chapters represent the best Knowledge Management articles published in the 21st century in Knowledge Management Research & Practice and the European Journal of Information Systems, with contributors including Ikujiro Nonaka, Frada Burstein, and David Schwartz. Most of the chapters contribute significantly to practise as well as theory.

Knowledge management in support of enterprise risk management

Risk management and knowledge management have so far been studied almost independently. The evolution of risk management to the holistic view of Enterprise Risk Management requires the destruction of barriers between organizational silos and the exchange and application of knowledge from different risk management areas. However, knowledge management has received little or no attention in risk management. This paper examines possible relationships between knowledge management constructs related to knowledge sharing, and two risk management concepts: perceived quality of risk control and perceived value of enterprise risk management. From a literature review, relationships with eight knowledge management variables covering people, process and technology aspects were hypothesised. A survey was administered to risk management employees in financial institutions. The results showed that the perceived quality of risk control is significantly associated with four knowledge management variables: perceived quality of risk knowledge sharing, perceived quality of communication among people, web channel functionality, and risk management information system functionality. However, the relationships of the knowledge management variables to the perceived value of enterprise risk management are not significant. We conclude that better knowledge management is associated with better risk control, but that more effort needs to be made to break down organizational silos in order to support true Enterprise Risk Management.

Techniques for automated taxonomy building: towards ontologies for knowledge management

Ontologies have become widely accepted as the main method for representing knowledge in Knowledge Management (KM) applica-tions. Given the continuous and rapid change and dynamic nature of knowledge in all fields, automated methods for construct-ing ontologies are of great importance. All ontologies or taxonomies currently in use have been hand built and require consider-able manpower to keep up to date. Taxono-mies are less logically rigorous than ontolo-gies, and in this paper we consider the re-quirements for a system which automatically constructed taxonomies. There are a number of potentially useful methods for construct-ing hierarchically organised concepts from a collection of texts and there are a number of automatic methods which permit one to as-sociate one word with another. The impor-tant issue for the successful development of this research area is to identify techniques for labelling the relation between two candi-date terms, if one exists. We consider a number of possible approaches and argue that the majority are unsuitable for our re-quirements.

Knowledge acquisition for knowledge management: position paper

With this paper, we propose a set of techniques to largely automate the process of KA, by using technologies based on Information Extraction (IE) , Information Retrieval and Natural Language Processing. We aim to reduce all the impeding factors mention above and thereby contribute to the wider utility of the knowledge management tools. In particular we intend to reduce the introspection of knowledge engineers or the extended elicitations of knowledge from experts by extensive textual analysis using a variety of methods and tools, as texts are largely available and in them - we believe - lies most of an organization's memory.

Knowledge management applied to enterprise risk management

Risk and knowledge are two concepts and components of business management which have so far been studied almost independently. This is especially true where risk management (RM) is conceived mainly in financial terms, as for example, in the financial institutions sector. Financial institutions are affected by internal and external changes with the consequent accommodation to new business models, new regulations and new global competition that includes new big players. These changes induce financial institutions to develop different methodologies for managing risk, such as the enterprise risk management (ERM) approach, in order to adopt a holistic view of risk management and, consequently, to deal with different types of risk, levels of risk appetite, and policies in risk management. However, the methodologies for analysing risk do not explicitly include knowledge management (KM). This research examines the potential relationships between KM and two RM concepts: perceived quality of risk control and perceived value of ERM. To fulfill the objective of identifying how KM concepts can have a positive influence on some RM concepts, a literature review of KM and its processes and RM and its processes was performed. From this literature review eight hypotheses were analysed using a classification into people, process and technology variables. The data for this research was gathered from a survey applied to risk management employees in financial institutions and 121 answers were analysed. The analysis of the data was based on multivariate techniques, more specifically stepwise regression analysis. The results showed that the perceived quality of risk control is significantly associated with the variables: perceived quality of risk knowledge sharing, perceived quality of communication among people, web channel functionality, and risk management information system functionality. However, the relationships of the KM variables to the perceived value of ERM are not identified because of the low performance of the models describing these relationships. The analysis reveals important insights into the potential KM support to RM such as: the better adoption of KM people and technology actions, the better the perceived quality of risk control. Equally, the results suggest that the quality of risk control and the benefits of ERM follow different patterns given that there is no correlation between both concepts and the distinct influence of the KM variables in each concept. The ERM scenario is different from that of risk control because ERM, as an answer to RM failures and adaptation to new regulation in financial institutions, has led organizations to adopt new processes, technologies, and governance models. Thus, the search for factors influencing the perceived value of ERM implementation needs additional analysis because what is improved in RM processes individually is not having the same effect on the perceived value of ERM. Based on these model results and the literature review the basis of the ERKMAS (Enterprise Risk Knowledge Management System) is presented.

Human resource management systems and organizational performance:a test of a mediating model in the Greek manufacturing context

This paper investigates the relationship between systems of HRM policies and organizational performance. The research is based on a sample of 178 organizations operating in the Greek manufacturing sector. A mediation model is tested to examine the link between HRM and organizational performance. The results of this study support the hypothesis that the relationship between the HRM systems of resourcing-development and reward-relations, and organizational performance, is mediated through the HRM outcomes of skills and attitudes. The paper not only supports the theory that HRM systems have a positive impact on organizational performance but also explains the mechanisms through which HRM systems improve organizational performance.