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A Knowledge Management Approach to the Hotel Industry’s Competitiveness

Hospitality Management assignment

One of the primary objectives of this study is to determine how source- and knowledge-focused knowledge management systems affect the competitiveness of hotels. The writers utilize a quantitative kind of approach, and it depends on a survey done through email that is sent to 55 numbers of hotels in Portugal. The outcome depicts that the techniques of knowledge management based on the kind and source of data are required for hotels to stay competitive. Nonaka and Takeuchi define knowledge as faith in the truth that results from a self-assured posture, viewpoint, or goal. In the opinion of Erden, Von Krogh, and Nonaka (2008), knowledge is the capability of defining a problem and taking necessary action. If you are having trouble with a Hospitality Management assignment, consider BookMyEssay Hospitality Management assignment help service.

The way the strategies of knowledge management focus on the knowledge and source have an affirmative effect on the hotels’ competitiveness is one of this study’s primary goals, which is the identification of the knowledge management organizational processes’ role as the competitiveness’s determinant in the hotel industry. A quantitative strategy is employed by the author on the basis of an email survey distributed to 55 numbers of hotels in Portugal. The findings demonstrate the need for the management of knowledge methods on the basis of the kind and source of knowledge for hotels to remain competitive and gain a competitive advantage. Hotel managers will benefit from a better form of understanding of coordinating the methods of knowledge management to increase hotel competitiveness.

INTRODUCTION

Globalization, corporate changes, the advent of the digitized corporation, along with the development of the hospitality and travel sector are the four significant alteration agents that are altering business settings around the globe. In the late decade of the 20th century, the management of knowledge emerged and quickly formed as one of the most controversial management ideas. The worth of a firm increasingly takes into account intangible assets, enabling it to forge competitive advantages, distinguish itself apart from rivals, and eventually flourish via knowledge and its management.

One of the key elements of tourism is the hotel sector. As one of Portugal’s most promising industries, it needs methods to boost its economic growth.

Background Theory and Research Model and Information Management

The notion of the term knowledge encompasses a broad spectrum, ranging from the concrete to the abstract along with the philosophical and from a narrow scope to a vast extent. According to Nonaka and Takeuchi (1995), the term knowledge is a legitimate conviction in the truth that is a result of a confident stance, viewpoint, or purpose; it also indicates an activity that is particular to a given circumstance and is reliant on individual perception, sensitivity, and experience. According to Davenport and Prusak (1998), knowledge is a fluid amalgam of values, and experiences that is shared, contextual knowledge, along with specialized knowledge that offers a framework for its application to the assimilation of new experiences and information. According to Erden, Von Krogh, and Nonaka (2008), knowledge is the capacity to characterize a problem and take appropriate action. Knowledge is related to a belief justified in the truth, which means people must defend the accuracy of their observations in light of external observances. A source of an organization’s competitive advantage, knowledge is made up of consciousness, perceptions, and sentiments that define and make goods distinctive, exclusive, inventive, and timeless.

The highly complicated knowledge type is tacit knowledge, which is internalized and developed over a long time period by the knower. It is not at all possible reproducing in databases or documents, the incorporation of the accumulated knowledge is challenging to articulate, and relates to the dimension of cognition that puts a reflection on the idea of reality along with the vision for the future.

Using Information Efficiently

A sound knowledge management strategy is essential in ensuring that a firm develops, accesses acquires and utilizes the information quickly. It must adhere to organizational policies, cultural norms, and the use of knowledge management-related information technology, and it must handle both technical and structural administrative management concerns. A sound knowledge management strategy improves company performance and provides competitive benefits.

On the basis of the source of knowledge, we may break down one of the most practical knowledge management techniques into two dimensions that are externally and internally focused strategy. Two critical aspects of the growth of corporate knowledge are internal expertise development along with the availability of external knowledge.

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