Thought for the quarter - Punjab National Bank Institute of ...
Thought for the quarter - Punjab National Bank Institute of ... Thought for the quarter - Punjab National Bank Institute of ...
e-track7) Creation of online discussion forums http://www.angleritech.com8) Creation of Online Conferencing and 2. Bhojaraju, G. Knowledge management: whyCollaborationdo we need it for corporates. Malaysian9) Communities of practiceJournal of Library & information science,10) Web IntelligenceDecember 2005, 10(2), 37-50.3. EIU.com. 2005. Know how: Managingknowledge for competitive advantage.Conclusion:Available at: http://www.eiu.com/KnowHowManaging Knowledge- whether explicit or4. K h a n d e l w a l , A n i l K . K n o w l e d g etacit- has implications for innovation, cost cuttingManagement: The key to success. IBAand improved competitiveness. Consequently, theBulletin, December 2003, XXV(12), 5-10.implementation of KM as the process of generating,accumulating, sharing and using knowledge to5. Mitra, P K. Knowledge Management Officers-thcreate and restore value in Banks is increasing and Role in Banks. 8 Bank Education Conferencematuring. It is also substantially enhancing the “Enhancing performance” 2007, Mumbai, 19-productivity of individual and group in Banks by 20 January 2007, P.69-75.allowing the use and reuse of knowledge and in 6. Ramesha, Kumbar, B D, Hundekar, S G.doing strategic tasks such as customer relation Knowledge Management in Banks: Somemanagement. In general, knowledge management implications. IBA Bulletin, December 2003,initiatives in banking services fall into two main XXV(12), 27-30.categories. First, knowledge management is seen as 7. Reddy, B Rathan. 2007 Knowledgean integral part of overall corporate strategy, and M a n a g e m e n t : To o l f o r b u s i n e s saims to grow, extract and exploit the bank's development. Himalaya Publishing House,knowledge to increase shareholder value. The New Delhi, 2007.second focus is on improving the knowledge 8. Roy, Tapash Guha. Knowledge Managementnecessary to carry out specific business processesthOfficers (KMOs): Their role in Banks. 8 Bankand thereby improving efficiency.Education Conference “EnhancingThe banking sector as a whole, like other performance” 2007, Mumbai, 19-20 Januarysectors, has realized the importance of KM function. 2007, P.76-86.At the same time, they are also facing many 9. Shiravadekar, A R. Knowledge Managementproblems in creating the desired work environment in Banks. IBA Bulletin, December 2003,under which this function will develop properly. In a XXV(12), 24-26.situation when Banks have no alternative except10. Tandon, Deepak, Tandon, Neelam, Singh,“perform” or “perish”, they have to take pragmaticRakhi. 2008. Knowledge Management insteps to build a knowledge chain, create knowledgeIndian Banks. In Uppal, R K. Challenges andwealth with the immediate implementation of KM toopportunities for Indian Banks. Mahamaya,significantly enhance their level of performance.New Delhi, 2008. 20-29.References:1. Angler. 2003. Full Service Provider (FSP) ofWeb, E-business and Multimedia. Available atAuthor is Manager,Small Industries DevelopmentBank of India (SIDBI)January-March2011 8
KNOWLEDGE MANAGEMENT IN INSURANCE INDUSTRYTHROUGH DATA WAREHOUSING SYSTEMe-track- Anshum Srivastava,Asscociate Professor, LBSIMDS, LucknowAbstract:Data has come to occupy a very importantapproach to adopting technologymeans that insurance companiesplace in several management functions, irrespective lag behind in decision support.of the domain to which an organization belongs. Adopting data warehousing andThere has also been a growing realization that data mining solutions will give adecision making based on statistical bases tends to strategic advantage to insurers tobe closer to accuracy, for obvious reasons. Lack of provide better policies, improved appropriatedata also hampers steady growth of business. pricing and better risk management.Particularly in a domain that has to do with large At the industry level, data warehousing shouldnumbers and accuracy of assessment, the need for be used as a dynamic repository of information thatcollection and generation of data-based information should be ideally accessible to all players. Byneeds no emphasis. The importance of data for applying proper techniques of mining, insurerssuccessful conduct of business cannot be over should be capable of drawing information from theemphasized. This holds true for almost all types of common warehouse that would eventually obviatebusinesses universally, as business decisions have to the problems associated with adverse selection.be taken considering the past experiences, present Towards accomplishing this, all players shouldscenario and future projections. The importance of realize their responsibility to contribute clean anddata is most paramount in the insurance industry. For reliable data; and in time, at that. This is particularlyinsurers to generate actuarial assumptions which are important in a domain where there are multipleso vital for such important management functions players; and also where information asymmetrylike underwriting and pricing; the quality of data is continues to be a bothersome factor. The collectionrequired to be of a high order viz. comprehensive, and maintenance of data should not be an exerciseclean and meaningful. The process of collecting that limits itself to a mere formality or for reasons ofdata; apply the standards of cleansing and storage; fashion but it should be appreciated that it is acompiling the data and storing it in a usable form are corporate need. The mechanism that is associatedall replete with huge costs and deployment of with data collection and analysis is bound to beprecious manpower resources. Insurance expensive and there is also the possibility of earlycompanies should take cognizance of this fact while obsolescence.creating a database.As such, it is essential that organizationsensure optimum utilization of whatever resourcesIntroduction:The insurance sector has witnessed intenseare pooled into the process. There is also a need toensure that the data collected is based on the needs ofcompetition, changing market scenario and growing the organization and that it is tuned to the businessrisks and complexities post opening up. A cautious requirements. A well-designed data warehouse9January-March2011
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e-track7) Creation <strong>of</strong> online discussion <strong>for</strong>ums http://www.angleritech.com8) Creation <strong>of</strong> Online Conferencing and 2. Bhojaraju, G. Knowledge management: whyCollaborationdo we need it <strong>for</strong> corporates. Malaysian9) Communities <strong>of</strong> practiceJournal <strong>of</strong> Library & in<strong>for</strong>mation science,10) Web IntelligenceDecember 2005, 10(2), 37-50.3. EIU.com. 2005. Know how: Managingknowledge <strong>for</strong> competitive advantage.Conclusion:Available at: http://www.eiu.com/KnowHowManaging Knowledge- whe<strong>the</strong>r explicit or4. K h a n d e l w a l , A n i l K . K n o w l e d g etacit- has implications <strong>for</strong> innovation, cost cuttingManagement: The key to success. IBAand improved competitiveness. Consequently, <strong>the</strong>Bulletin, December 2003, XXV(12), 5-10.implementation <strong>of</strong> KM as <strong>the</strong> process <strong>of</strong> generating,accumulating, sharing and using knowledge to5. Mitra, P K. Knowledge Management Officers-thcreate and restore value in <strong>Bank</strong>s is increasing and Role in <strong>Bank</strong>s. 8 <strong>Bank</strong> Education Conferencematuring. It is also substantially enhancing <strong>the</strong> “Enhancing per<strong>for</strong>mance” 2007, Mumbai, 19-productivity <strong>of</strong> individual and group in <strong>Bank</strong>s by 20 January 2007, P.69-75.allowing <strong>the</strong> use and reuse <strong>of</strong> knowledge and in 6. Ramesha, Kumbar, B D, Hundekar, S G.doing strategic tasks such as customer relation Knowledge Management in <strong>Bank</strong>s: Somemanagement. In general, knowledge management implications. IBA Bulletin, December 2003,initiatives in banking services fall into two main XXV(12), 27-30.categories. First, knowledge management is seen as 7. Reddy, B Rathan. 2007 Knowledgean integral part <strong>of</strong> overall corporate strategy, and M a n a g e m e n t : To o l f o r b u s i n e s saims to grow, extract and exploit <strong>the</strong> bank's development. Himalaya Publishing House,knowledge to increase shareholder value. The New Delhi, 2007.second focus is on improving <strong>the</strong> knowledge 8. Roy, Tapash Guha. Knowledge Managementnecessary to carry out specific business processesthOfficers (KMOs): Their role in <strong>Bank</strong>s. 8 <strong>Bank</strong>and <strong>the</strong>reby improving efficiency.Education Conference “EnhancingThe banking sector as a whole, like o<strong>the</strong>r per<strong>for</strong>mance” 2007, Mumbai, 19-20 Januarysectors, has realized <strong>the</strong> importance <strong>of</strong> KM function. 2007, P.76-86.At <strong>the</strong> same time, <strong>the</strong>y are also facing many 9. Shiravadekar, A R. Knowledge Managementproblems in creating <strong>the</strong> desired work environment in <strong>Bank</strong>s. IBA Bulletin, December 2003,under which this function will develop properly. In a XXV(12), 24-26.situation when <strong>Bank</strong>s have no alternative except10. Tandon, Deepak, Tandon, Neelam, Singh,“per<strong>for</strong>m” or “perish”, <strong>the</strong>y have to take pragmaticRakhi. 2008. Knowledge Management insteps to build a knowledge chain, create knowledgeIndian <strong>Bank</strong>s. In Uppal, R K. Challenges andwealth with <strong>the</strong> immediate implementation <strong>of</strong> KM toopportunities <strong>for</strong> Indian <strong>Bank</strong>s. Mahamaya,significantly enhance <strong>the</strong>ir level <strong>of</strong> per<strong>for</strong>mance.New Delhi, 2008. 20-29.References:1. Angler. 2003. Full Service Provider (FSP) <strong>of</strong>Web, E-business and Multimedia. Available atAuthor is Manager,Small Industries Development<strong>Bank</strong> <strong>of</strong> India (SIDBI)January-March2011 8
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