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An investigation of the importance of Knowledge management in achieving competitive advantage in the retail sector; a case study of Wal-Mart Inc., UK

Harvard, 2500 Words

Table of Contents

1       Introduction:

1.1       Rationale of the Study:

1.2       Research Aim and Objectives:

1.3       Research Questions:

2       Literature Review:

2.1       Knowledge Management and Competitive Advantage:

2.2       Leadership and Managerial Skill:

2.3       Benefits of Knowledge Management on Competitive Advantage:

2.4       Conceptual Framework:

3       Research Design and Methodology:

3.1       Research Philosophy:

3.2       Types of Investigation:

3.3       Data Collection:

3.4       Sampling and Accessibility:

3.5       Data analysis plan:

3.6       Limitation of research:

4       Conclusion:

5       Reference:

 

 

 

1        Introduction:

A process of capturing, sharing, developing and implementing organizational knowledge for utilizing maximum knowledge and gain competitive advantage is called knowledge management. Knowledge management basically the utilization of knowledge to achieve organizational goals and objectives. Knowledge management includes the area of it as business administration, information system, marketing, and management and computer science. All of these areas combined for gaining competitive advantage in competitive market. Knowledge management is a practice of knowledge sharing and utilizing that both individual and organization can follow. It consists specific strategies and systems that helps to gain competitive advantage (Gottschalk, 2005). Competitive advantage gives a company to lead market and make greater margin of profits and building strong brand image on customers’ perceptions.

Wal-Mart is an American multinational retail company that runs its operation in several countries successfully. It was established in 1962 by Sam Walton and maintains departmental store and warehouse. It belongs 11000 stores in 27 countries among the world. According to the Fortune Global 500 list in 20015, Wal-Mart is the world’s largest company in terms of revenue.

In the recent time, there is economic slowdown in UK, all retailers need to think to survive in the crucial time. After covering this crucial time, lots of retailers are growing day by day. Apart from this, in the era of competitive market, people habits are changing and lots of companies offer them quality and different products. That’s why Wal-Mart decides to concentrate on knowledge management for gaining competitive advantage. In this case, it tries to improve the knowledge management sector. Because it needs to improve its position among the rivals. However, knowledge management and competitive advantage are two different variables. One forces to increase another. Knowledge management helps to make strategy and gain organizational objectives and goals. On the other hand, competitive advantage helps to give some unique things that strongly help to the organization to lead the market among the competitors. In this report, the researcher will analyze the importance of knowledge management in achieving competitive advantage in retail market in UK of Wal-Mart.