JJJ is a publically quoted advertising agency. JJJ’s competitive advantage is based on the expertise of its staff and its reputation in digital media advertising. JJJ has robust systems to protect its intellectual property. These include patents and copyrights. JJJ has also restricted access for most of its staff to its most sensitive data, such as studies of its customers’ profitability.
JJJ’s new Managing Director, Z, is concerned that when staff leave JJJ, the company loses whatever tacit knowledge they possess. These losses also impact on JJJ’s reported profits. In order to remedy the losses of knowledge and the reduced profits Z wants to introduce a knowledge management strategy.
Which of the following steps support the introduction of a knowledge management strategy? (Choose all that apply.)
A. Z should set a target for reported profit.
B. JJJ needs to acquire and install appropriate hardware and software.
C. JJJ should unfreeze current habits and standard operating procedures.
D. JJJ should convince staff of the benefits of sharing their tacit knowledge.
E. Z should gain the support of the Board of Directors.
F. JJJ should integrate knowledge management and management accounting.