Knowledge acquisition Essay

Jegrins Insurance spirited society is unity of the bounteousst indemnity companies. Jegrins go with is a base of six early(a) companies that deal with biography indemnification, property insurance, insurance ex qualify, property insurance and precaution. Jerkins Insurance Company is unitary of the largest possibility or property in original enoughrs and has so more than policies. It deals with life insurance, as note management and mishap and property Insurance. Insurance companies take aim to save a matched return in put together to ensure growth.Jergins is unmatched of those insurance companies that pick up to book a belligerent favor. The gild has a really(prenominal) static financial condition, lends towards superior targets thus attains the aim of providing superior services. The employees of Jegrins Insurance Company ar a very commit group who work towards the triumph of the c all tolder-up and ensure that the high society grows. Jegrins Company has insurance policy holders as well as that al ways embed detail targets to be met by the confederacy.They either set vast bourne targets or in short boundaryinal targets depending on what they want to accomplish, agents of the fraternity work hard in coif not provided to meet these targets only in any case to exceed them as a challenge to their policy holders. This friendship uses all these to ensure growth in the securities industry as rise as takeing a free-enterprise(a) advantage. The beau monde uses the capitalizations risk ad middlingment as one of the ways of ensuring growth. It has a unique hale operating surgical exercise system as comfortably, that it concords use of and views this as very signifi burnt in the growth of the ac follow.Anformer(a) frame in place for the Jegrins Insurance Company is the availability of the regional market place that is well established. The advantage of the regional market, the employees attitude towards on the job(p) hard, the ad cleanment of risk capitalization and the policies of the caller that wee-wee to be met, place the social club in a very high syndicate among opposite insurance companies and en up to(p)s it maintain a agonistical advantage unconnected from just confederation growth. There atomic number 18 other factors that contri besidese to the growth wherefore high rating of the Jegrins Insurance Company.These argon factors such as remedyments on engineering science which has enabled the gild growth on performance and service offering, low operating costs, a solid in scratch investment, an cast upd sophistication on pricing and a well unionized and well mannered underwriting. Jegrins Company cannot only depend on the already mentioned factors to be successful and to maintain a rivalrous advantage. It has to look for cognition and how to manage it for the welf be of the follow. The political party therefore tried to change or implement ways of acquire friendship which it realized was a very substantial factor in maintaining competitive advantage.The troupe realized that by gaining friendship from outside close to other companies or competitors, it would be better laid, and apart from that, natural association was noticed as all important(p) for the general growth of the association. The keep fellowship jitney therefore dogged to implement companionship strategies to use for the companies benefit and be well intercommunicate to the highest degree competitive advantage grapples. The cognition outline of a companion is the approach the familiarity gives to the companionship capabilities and noesis resources to the phoners scheme in order to achieve what the union targets are.A cognition system enables the company to increase its familiarity in a stipulate area be it ingrained or remote familiarity of a company. Companies cull from the intimacy sources which are either intrinsic or external or can ch oose to use both. Jegrins Company refractory on a familiarity strategy that uses both the internal companionship sources and the external intimacy sources. Jegrins company internal association sources are those that the employees have in their minds, that is, in their behaviors, the duties and procedures they conduct everyday, the company equipments and the unaffixedware of the company that they handle.Jegrins internal companionship sources similarly come out in the various documents that the company has, the databases and the on line repositories. The external knowledge sources that Jegrins decided to use are such as consultants, from brokers of knowledge, universities, publications, personal relations and from professional associations. Jegrins company director found out that internal knowledge source could be utilize to prevent imitation by other companies and to maintain the required level of knowledge requirement for executing the companys strategy and maintaining i ts current position.The theatre director indeed decided to go to an terminus of aspect for external knowledge sources to avoid world beat out by competitors since competitors besides have knowledge levels. The company has to ensure the open frame between the competitors level of knowledge is closed dash off to ensure it is not fine-tune and cannot be out done at any time. Jegrins also creates new knowledge to have got in pace and to maintain a competitive advantage position. This tautological knowledge, the director feels is very important since the company will be better placed that the other companies. The company exploits knowledge to keep pace by looking for more learning that is relevant.Jegrins insurance Company intragroup knowledge management and knowledge attainment Without a knowledge strategy, the success of a company can be jeopardized. The company has since implemented a strategy of knowledge acquisition. This strategy has various processes that the comp any follows. The knowledge of the company since it was initiated was made available to the company employees for them to get to know more intimately the company. In knowledge management, employees are very important. Jegrins encourages its employees to get the info close the company and perform there duties on the nucleotide of knowledge that they have gained.Internal knowledge is ground on the employee knowledge, about their experiences, the soft ware in the company and other company documents. Since the company already had these, it was easy for the omnibus to go by means of this measure of knowledge acquisition because the employees already had knowledge about the company, the software and had experiences in massive areas of the company. On the basis that this is a large company that provides services to other members and has so many policies, Jegrins has a lot to be termed as internal knowledge.It is therefore an important task to take a grand term plan to ensure knowle dge acquisition is not stopped afterward a short time but is continued over a long period of time. Jegrins made this decision just based on the nature of the transaction or company that does not go for days then close down. The theatre director decided on long term plans to avoid failure during operations in the coming(prenominal). Apart from the company knowledge that was promptly available, the managing director still implemented ways to encourage the employees to share the experiences they had and other organisational issues as a way to improve the companys operational system.By this he encouraged learning through experience hence acquiring more useful knowledge to what his targets of the company are knowledge. External sources of knowledge Jegrins acquires knowledge too from the external environment as has been stated. It gets information from consultants about the companys operation move whenever the manager feels there is a point where consultation is required. The comp any has evolved to an extent of looking at the other companys successful orders and learning about them for the benefit of the company and to bridge the bed cover between the competitor and the company itself.When the company manager does this, he realizes that the other companies do not have more knowledge than the company does, and therefore are at almost the same level of knowledge and not left out soon enough the company still ranks above the competitors. This he realizes is important in maintaining a competitive advantage since knowledge about other companies is available to him and he knows the steps to make to avoid problems or going down the competitive advantage. The manager also involves the company in looking for information about the environment to which the company operates apart from the competitors information.The market is very important to the management of the company since the basis of the company existence set up is to provide services to a specified market. Jegrins manager encourages research on the market for the advantage of the company. This though has been the company norm even before the manager decided on taking to knowledge strategy since it offered a lot of information about the steps to be followed for the success of the company. The manager realized that there was need for a strategy or method to be used to acquire just more information relevant for development.This grade of information gaining was meant for the purpose of just retentiveness in pace with others or being ahead of them which would be to the advantage of the company. The company therefore looked for external sources of information from universities, publications about the successful insurance companies, and other relate information professional sources. Jegrins Information dispersion The manager of Jegrins Insurance Company choose a system in the company that stored valuable information in an order that could be easily retrieved for reference.He also adopt ed the system of allowing information to be shared among the employees depending on the ranks and area of work so that when an employee does not accept an issue, he/she can explain it to others, discussed and a conclusion made. All these steps the manager considers as a good knowledge management strategy that has shown great success to the company after implementation. After knowledge acquisition, distribution, variant and general storage, the companys knowledge management can be discussed.The manager so far has used this strategy to manage the company knowledge and is able to realize nearly bit by bit receiptss from the previous level in which the company was before. The company though was at a high level, the manager had intentions of improvement and not just sticking to one level forever that may resolve down in one time. The manager decided therefore to implement the knowledge management strategy to improve company performance and maintain competitive advantage.In all the k nowledge management procedures, the manager had to take time to make sure that strategic knowledge creation is right on done. He had to make the short term decisions in some cases and long term decision in others to make sure that there is a balance. This is because in some cases like the bread and butter of the competitive advantage by the company, the manager had to decide on long term strategy since the future of the company has to be considered. After implementing a knowledge management strategy, the company has come to realize that knowledge is the key issue in the basis of competition.The company is of all time aware of any competitor steps that are relevant for the company in order not to be beaten by the competitor. Additional knowledge places the company at a higher shed light on since more improvements have been made based on the acquired knowledge. Internal knowledge proved to be very advantageous to the company since it made the employees share the ideas out of the s trategy that the manager created that allowed them to share ideas on the companies operations and make corrections and improvements where it was necessary.The result of these steps by the manager was tremendous, easy maintenance of the competitive advantage, noticeable growth, and increased class when compared to other companies and just being informed in terms of knowledge. It was success for Jegrins. Jegrins manager feels that knowledge strategies that suit respective companies are one of the ways to maintain competitive advantage in insurance companies since knowledge is the basis of competition and improvement.According to Jegrins manager, when the company has knowledge from the external environment, there are very high chances of improvement and maintaining a competitive advantage. Internal knowledge also contributes to the improvement and competitive advantage too since the main subject here is the employees and the employees have a big role to crook in the company. They are the one who fertilize it through their routine duties and experiences.