Quality and Information Systems Strategies Essay

Quality and Information Systems Strategies - Essay Example In accordance with the above study, the ability of firms around the world to capture and interpret knowledge is depended on a series of factors; the size of the firm and its financial strength has been proved to be critical factors regarding the ability of a firm to manage knowledge throughout its departments. The various forms of knowledge within modern organizations can be observed in Figure 1 (Appendix) where these forms are set hierarchically in order for the importance to be identified. The effective management of knowledge in modern firms is crucial in order for the various strategic plans developed within a specific organization to be appropriate, i.e. to lead to the achievement of the targets set by the firm’s strategic management team. The above assumption is also supported by Steyn (2004) who stated that ‘successful organisations are knowledge-creating organisations, which produce, disseminate and embody new knowledge in new products and services’ (Steyn , 2004, 615). In other words, gathering, evaluation and distribution of knowledge across modern organization is a highly important part of the organizational activity supporting the development of strategic plans that are effective both in the short and the long term. For this reason, firms of all sizes have tried to establish IT systems that will be able to capture, evaluate and distribute the knowledge required for the ‘smooth’ development of all organizational activities as well as for the growth of the firm in the long term. Establishing the IS required for the development of corporate activities is a challenging task for all managers worldwide – no matter the size of the firm involved. Towards this direction, it is supported by Reid et al. (2004) that managers in modern organizations should have a ‘strategic foresight that can play a significant role in the long term success, or failure, of business