Knowledge acquisition Essay Example
Knowledge acquisition Essay Example

Knowledge acquisition Essay Example

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  • Pages: 8 (2026 words)
  • Published: October 2, 2017
  • Type: Case Study
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Jegrins Insurance Company is one of the largest insurance companies. Jegrins Company is a group of six other companies that deal with life insurance. belongings insurance. insurance exchange. belongings insurance and direction. Jerkins Insurance Company is one of the largest casualty or belongings insurance companies and has so many policies. It deals with life insurance. plus direction and casualty and belongings Insurance. Insurance companies have to keep a competitory advantage in order to guarantee growing.

Jergins is one of those insurance companies that need to keep a competitory advantage. The company has a really stable fiscal status. works towards superior marks therefore attains the purpose of supplying superior services. The employees of Jegrins Insurance Company are a really committed group who work towards the success of the company and guarant


ee that the company grows. Jegrins Company has policy holders excessively that ever set specific marks to be met by the company.

They either set long term marks or short term marks depending on what they want to carry through. agents of the company work hard in order non merely to run into these marks but besides to transcend them as a challenge to their policy holders. This company uses all these to guarantee growing in the market every bit good as keeping a competitory advantage. The company uses the capitalization’s hazard accommodation as one of the ways of guaranting growing. It has a alone solid operating public presentation system every bit good. that it makes usage of and positions this as really of import in the growing of the company.

Another design in topographic point for the Jegrins Insurance Company is the handiness of the regional market that

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is good established. The advantage of the regional market. the employees attitude towards working hard. the accommodation of hazard capitalisation and the policies of the company that have to be met. topographic point the company in a really high category among other insurance companies and enables it keep a competitory advantage apart from merely company growing. There are other factors that contribute to the growing therefore high evaluation of the Jegrins Insurance Company.

These are factors such as betterments on engineering which has enabled the company growing on public presentation and service offering. low operating costs. a solid income investing. an increased edification on pricing and a good organized and good mannered underwriting. Jegrins Company can non merely depend on the already mentioned factors to be successful and to keep a competitory advantage. It has to look for cognition and how to pull off it for the benefit of the company. The company hence tried to alter or implement ways of acquiring cognition which it realized was a really of import factor in keeping competitory advantage.

The company realized that by deriving cognition from outside about other companies or rivals. it would be better placed. and apart from that. internal cognition was noticed as indispensable for the general growing of the company. The company director hence decided to implement cognition schemes to utilize for the companies benefit and be good informed about competitory advantage issues. The cognition scheme of a company is the attack the company gives to the cognition capablenesss and knowledge resources to the company’s scheme in order to accomplish what the company marks are.

A cognition scheme enables the company to increase its cognition in

a specified country be it internal or external cognition of a company. Companies choose from the cognition beginnings which are either internal or external or can take to utilize both. Jegrins Company decided on a cognition scheme that uses both the internal cognition beginnings and the external cognition beginnings. Jegrins company internal cognition beginnings are those that the employees have in their heads. that is. in their behaviours. the responsibilities and processs they conduct mundane. the company equipments and the package of the company that they handle.

Jegrins internal cognition beginnings besides lay in the assorted paperss that the company has. the databases and the on line depositories. The external cognition beginnings that Jegrins decided to utilize are such as advisers. from agents of cognition. universities. publications. personal dealingss and from professional associations. Jegrins company director found out that internal cognition beginning could be used to forestall imitation by other companies and to keep the needed degree of cognition demand for put to deathing the company’s scheme and keeping its current place.

The director so decided to travel to an extent of looking for external cognition beginnings to avoid being beaten by rivals since rivals excessively have cognition degrees. The company has to guarantee the spread between the rivals degree of cognition is closed down to guarantee it is non down and can non be out done at any clip. Jegrins besides creates new cognition to maintain in gait and to keep a competitory advantage place. This excess cognition. the director feels is really of import since the company will be better placed that the other companies. The company exploits cognition to maintain gait by looking for

more information that is relevant.

Jegrins insurance Company Internal cognition direction and cognition acquisition: Without a cognition scheme. the success of a company can be jeopardized. The company has since implemented a scheme of cognition acquisition. This scheme has assorted procedures that the company follows. The cognition of the company since it was initiated was made available to the company employees for them to acquire to cognize more about the company. In cognition direction. employees are really of import. Jegrins encourages its employees to acquire the information about the company and execute there responsibilities on the footing of cognition that they have gained.

Internal cognition is based on the employee cognition. about their experiences. the soft ware in the company and other company paperss. Since the company already had these. it was easy for the director to travel through this measure of cognition acquisition because the employees already had knowledge about the company. the package and had experiences in huge countries of the company. On the footing that this is a big company that provides services to other members and has so many policies. Jegrins has a batch to be termed as internal cognition.

It is hence an of import undertaking to take a long term program to guarantee cognition acquisition is non stopped after a short clip but is continued over a long period of clip. Jegrins made this determination merely based on the nature of the concern or company that does non travel for yearss so near down. The director decided on long term programs to avoid failure during operations in the hereafter. Apart from the company cognition that was readily available. the director still implemented

ways to promote the employees to portion the experiences they had and other organisational issues as a manner to better the company’s operational system.

By this he encouraged larning through experience hence geting more utile cognition to what his marks of the company are cognition. External beginnings of cognition: Jegrins acquires knowledge excessively from the external environment as has been stated. It gets information from advisers about the company’s operation stairss whenever the director feels there is a point where audience is required. The company has evolved to an extent of looking at the other company’s successful methods and larning about them for the benefit of the company and to bridge the spread between the rival and the company itself.

When the company director does this. he realizes that the other companies do non hold more cognition than the company does. and hence are at about the same degree of cognition and non left out yet the company still ranks above the rivals. This he realizes is of import in keeping a competitory advantage since cognition about other companies is available to him and he knows the stairss to do to avoid jobs or traveling down the competitory advantage. The director besides involves the company in looking for information about the environment to which the company operates apart from the competitors’ information.

The market is really of import to the direction of the company since the footing of the company being set up is to supply services to a specified market. Jegrins director encourages research on the market for the advantage of the company. This though has been the company norm even before the director decided on taking

to knowledge scheme since it offered a batch of information about the stairss to be followed for the success of the company. The director realized that there was demand for a scheme or method to be used to get merely more information relevant for development.

This sort of information gaining was meant for the intent of merely maintaining in gait with others or being in front of them which would be to the advantage of the company. The company hence looked for external beginnings of information from universities. publications about the successful insurance companies. and other related information professional beginnings. Jegrins Information distribution: The director of Jegrins Insurance Company adopted a system in the company that stored valuable information in an order that could be easy retrieved for mention.

He besides adopted the system of leting information to be shared among the employees depending on the ranks and country of work so that when an employee does non accept an issue. he/she can explicate it to others. discussed and a decision made. All these stairss the director considers as a good cognition direction scheme that has shown great success to the company after execution. After cognition acquisition. distribution. reading and general storage. the company’s cognition direction can be discussed.

The director so far has used this scheme to pull off the company cognition and is able to recognize some spot by spot betterments from the old degree in which the company was earlier. The company though was at a high degree. the director had purposes of betterment and non merely lodging to one degree forever that may fall down in one clip. The director decided hence to implement

the cognition direction scheme to better company public presentation and keep competitory advantage.

In all the cognition direction processs. the director had to take clip to do certain that strategic cognition creative activity is right done. He had to do the short term determinations in some instances and long term determination in others to do certain that there is a balance. This is because in some instances like the care of the competitory advantage by the company. the director had to make up one's mind on long term scheme since the hereafter of the company has to be considered. After implementing a cognition direction scheme. the company has come to recognize that cognition is the cardinal issue in the footing of competition.

The company is ever cognizant of any rival stairss that are relevant for the company in order non to be beaten by the rival. Additional cognition places the company at a higher category since more betterments have been made based on the acquired cognition. Internal cognition proved to be really advantageous to the company since it made the employees portion the thoughts out of the scheme that the director created that allowed them to portion thoughts on the companies operations and do corrections and betterments where it was necessary.

The consequence of these stairss by the director was enormous. easy care of the competitory advantage. noticeable growing. and increased category when compared to other companies and merely being informed in footings of cognition. It was success for Jegrins. Jegrins director feels that cognition schemes that suit several companies are one of the ways to keep competitory advantage in insurance companies since cognition is the footing of

competition and betterment.

Harmonizing to Jegrins’ director. when the company has knowledge from the external environment. there are really high opportunities of betterment and keeping a competitory advantage. Internal cognition besides contributes to the betterment and competitory advantage excessively since the chief topic here is the employees and the employees have a large function to play in the company. They are the one who run it through their everyday responsibilities and experiences.

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