Knowledge Management and E-commerce
Research has shown that consumers nowadays are using internet to research about a product. Knowledge management is an integrated way of using e-commerce in an efficient way. These current market processes are helping in managing the business practices. This has suggested that the web presence of a company need to be more than just a retail channel. The company needs to develop an efficient market presence through various different channels. The internet is a unique medium to spread information. Businesses are using internet to interact and share information and experiences with the customers. It is important to notice that the electronic channel build communities to interact with the consumers. This has already facilitates in exchange of knowledge in order to develop loyal and receptive customer base (Ruggles, 2009).
The report is based on the knowledge management and e-commerce. The purpose of the report is to explore the usage of e-commerce at Harvey Norman. It helps in constructing concept of e-commerce and knowledge management through effective implementation of policies and procedure. The report further focuses on the relationship between the organizations level of knowledge management awareness and the effectiveness in facilitating e-commerce. The overall idea is to explore the use of e-commerce to facilitate growth. The purpose is to develop best practice framework for attaining e-commerce propositions (Dalkir & Liebowitz, 2011).
The study focuses on the socially constructed model of knowledge management as defined by McAdam and McCreedy. The purpose of knowledge management is to adopt a more holistic approach by linking knowledge with social learning process. This approach allows users to utilize it in an effective manner to make possible sense. This allows an individual to provide consumer-focused exploration. The development of World Wide Web and navigation browser has helped in an easy access to knowledge. As an emergent and multidisciplinary field the e-commerce is providing users with multiple options. It embraces all the aspects of the use of information and technology in a business. It not only includes buying and selling but also includes servicing provided to the customers. It is a new mode of marketing used by the organizations to manage the organization. The purpose of the business organizations is to attain efficacy by focusing on multifold facilities as provided by the organizations through their online facilities. It today’s world of innovation and technology it is necessary to utilize the internet in an effective manner. This will allow the users to attain long term sustainability. The overall purpose is to attain sustainability (Easterby-Smith & Lyles, 2011). The e-commerce is a platform that can be used by the organization to attain efficiency. Majority of business organization are using internet as a platform to spread information about the organization. It is an effective way that is used to share the purpose of the organization. In order to attain long term growth the organizations need to adopt effective policies and principles by sharing information with the customers. Customers nowadays are opting e-commerce websites to buy products. Thus it is necessary for the business organizations to understand the knowledge management and procedure to attain efficiencies. The long term purpose of the organization is related with attaining effective business. Globalization has led to expansion of business overseas. Majority of brands are easily available due to worldwide availability. It is important for an organization to develop innovative practices through online practice. This will allow the organization to attain high level of efficiency. Moreover the business organizations are focusing on attaining desire goals by managing relation through websites (Hislop, 2013).
The organization is known across Australia for adding innovation by adding new products in their franchise store. There are around 280 companies that are owned by Harvey Norman Holdings Limited. Moreover The Company is enjoying an important market share in Australia since 1982. They are currently operating business in Australia, New Zealand, Europe and South-East Asia under the name of Harvey Norman. They offer products to the customers through their online activities. The company is planning to expand their online facilities. In the recent year the company has realized the importance of e-commerce and knowledge management (Company Profile, 2008). The online process will help the organization to earn efficiencies on a long term. This will allow company to attain a multi channel growth in the coming years. The purpose of attaining transformation is to reduce operating cost and to reduce the out of stocks. This is to reduce lost opportunity and to increase customer satisfaction (Meihami & Meihami, 2014). This is critical for an organization to be dynamic in today’s environment. The retail industry understands the importance of e-commerce. The economy is largely dependent on the increasing impact of the online appearance. Large companies nowadays are using online facilities to attain significant presence in the market place. There is a necessity to understand the role of digital technologies in practicing marketing (Harvey Norman, 2017).
In today’s competitive world it has become important for the business organization to use online websites to publicize the business. The overall purpose of the business is to attain consumer attention. The fundamental purpose of doing business online is to focus on large size of consumer group. For Harvey Norman it is important to develop effective procedure in terms of online marketing. The amount of competition has increased in the recent years. Local and international organizations are using e-commerce in order to spread information about their products among the customers. It is evident in the competitive atmosphere that the organizations need to utilize the effective market process to understand the information regarding the organization. It is evident in the current business scenario that the competition among the business organizations is increasing. It is becoming important for the business to manage relationship with the external stakeholder (Zhang, Prybutok & Strutton, 2007; Geisler & Wickramasinghe, 2015). E-Commerce will provide with an opportunity to develop business in a multifold way. It is necessary that the business organization like Harvey Norman with a global outreach to deploy efforts in a correct way (Xiao & Benbasat, 2007).
Consumers nowadays are more aware about the products. They are taking the help of internet to gain knowledge. They are smart about their choices and understand their requirements. It is necessary for an individual customer to realize importance of being aware in the dynamic environment. The large sized business organizations are using dynamic tools like e-commerce to develop their business in an effective manner. The concept behind it is to utilize the full capacity. The purpose of report is to understand the importance of e-commerce and knowledge management in order to organize business operations. Harvey Norman can attain sustainable objective with the help of the online facilities. It today’s world of innovation and technology it is necessary to utilize the internet in an effective manner (Xiao & Benbasat, 2007). This will allow the users to attain long term sustainability. The overall purpose is to attain sustainability. The overall business environment is changing in a dynamic way. In a diversified market conditions the only requirement is to develop efficient relationship with the business partners and customers. The products need to meet customers’ expectations. This is only achievable if the company has an innovative market strategy. The overall purpose is to attain attention for the customer. The vivid gap in the organization is due to less reach to potential customers. It is evident that the organization is only able to attain distinguished result if it has planned to develop a sustainable marketing plan (Maguire, Koh & Magrys, 2007).
Applicability of the Concept
The digital marketing campaign is an important part to achieve high level sustainability. The market presence is only achievable if the company has deployed effective planning methods. The major requirement is regarding development of plan in a manner it attracts customers. The company is already selling goods by connecting through various small dealers. It has allowed them to gain attention in the market within a very small span. It is however necessary to understand the current market situation which is based on e-commerce (Wagner, 2008). Majority of business is carried through their online portals. Most of the company is working on enhancing their online presence. Harvey Norman needs to develop a remarkable online presence not only in the Australian market but also in oversea market. This will allow the brand to attain a cutting-edge over others. The global presence of the brand will ensure a consistent growth. The company has made a remarkable success through its online portal. Though there is a huge necessity to develop effective technique to enhance the presence of the brand. People are more ware about their choices. Consumers in the today’s world are impulsive about their decision. They switch to other brand and product (De Mooij, 2010). Harvey Norman has to reduce lost opportunity and to increase customer satisfaction. This is critical for an organization to be dynamic in today’s environment. The retail industry understands the importance of e-commerce. In a dynamic economy the brand need to develop an innovative methods so that consumers are ready to buy the product without a second thought. Harvey Norman has to define its business objectives based on knowledge management and e-commerce. The consumer is not only confined to buying products but to make a wise choice in order to attain good results. Knowledge management and e-commerce are two of the most relevant component that is important for Harvey Norman. It is essential that the company has to make relevant changes in the business model. These changes will allow the company to achieve the results in a distinct way (Lesser, Fontaine & Slusher, 2009).
E-commerce nowadays is not confined to buying and selling of goods. It is providing consumers a platform to make comparison among different brands in the market. Harvey Norman has to make an online brand visibility by making appropriate efforts. The online visibility of the goods will allow them to attain results on a long run. They should utilize better knowledge management tools in order to retain customers. The purpose of knowledge management and e-commerce is to develop customer understanding for the future benefit. This is one of the important features applicable in order to gain effective result. Large sized business organizations are developing social media presence to gain competitive advantage. It is necessary for Harvey Norman to make investment to build a strong social media presence. On a long run the brand need to adhere to the effective market policies. These market policies will allow the company in attaining sustainable results. Traditional marketing techniques are not fruitful for the organization. They need to adopt the digital technology to adopt significant results (Hawkins, Best & Coney, 2010).
Conclusion
Knowledge management allows the company to make reliable changes in the company. It is however important for a company to attain results on long run. There are 280 companies that are owned by Harvey Norman Holdings Limited. Furthermore The Company is enjoying an important market share in Australia since 1982. In such a competitive business atmosphere it is recommended that the company has to adopt the effective management tools. These tools will enable company to achieve desired result against the local and the international companies. The report provides the relevancy of knowledge management and e-commerce. It supports thaw concept of knowledge management used by the customers. Competitive atmosphere leads to significant changes in the market. For attaining required result the company needs to mould the business according. The world requires innovation in business techniques. This is only possible if the companies use the market tools in an efficient way.
References
Company Profile,(2008). Online. Retrieved from: https://www.harveynormanholdings.com.au/companyprofile.htm (Accessed on: 8 May 2017)
Dalkir, K., & Liebowitz, J. (2011). Knowledge management in theory and practice. MIT press.
De Mooij, M. (2010). Consumer behavior and culture: Consequences for global marketing and advertising. Sage.
Easterby-Smith, M., & Lyles, M. A. (Eds.). (2011). Handbook of organizational learning and knowledge management. John Wiley & Sons.
Geisler, E., & Wickramasinghe, N. (2015). Principles of knowledge management: Theory, practice, and cases. Routledge.
Harvey norman. (2017). Online. Retrieved from: https://www.bloomberg.com/profiles/companies/0521454D:AU-harvey-norman (Accessed on: 8 May 2017)
Hawkins, D. I., Best, R. J., & Coney, K. A. (2010). Consumer behavior. Implications for marketing strategy, 5.
Hislop, D. (2013). Knowledge management in organizations: A critical introduction. Oxford University Press.
Holsapple, C. (Ed.). (2013). Handbook on knowledge management 1: Knowledge matters (Vol. 1). Springer Science & Business Media.
Lesser, E., Fontaine, M., & Slusher, J. (2009). Knowledge and communities. Routledge.
Maguire, S., Koh, S. C. L., & Magrys, A. (2007). The adoption of e-business and knowledge management in SMEs. Benchmarking: An International Journal, 14(1), 37-58.
Meihami, B., & Meihami, H. (2014). Knowledge Management a way to gain a competitive advantage in firms (evidence of manufacturing companies). International Letters of Social and Humanistic Sciences, (14), 80-91.
Ruggles, R. (2009). Knowledge management tools. Routledge.
Wagner, C. (2008). Breaking the knowledge acquisition bottleneck through conversational knowledge management. In Knowledge Management: Concepts, Methodologies, Tools, and Applications (pp. 1262-1276). IGI Global.
Xiao, B., & Benbasat, I. (2007). E-commerce product recommendation agents: use, characteristics, and impact. MIS quarterly, 31(1), 137-209.
Zhang, X., Prybutok, V. R., & Strutton, D. (2007). Modeling influences on impulse purchasing behaviors during online marketing transactions. Journal of Marketing Theory and Practice, 15(1), 79-89.
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