a. What are the changes in theenvironmentthat affected the businessindustry?

-Nowadays, where our society is exposed to information, images, games, communication brought about by technology. There were times that these technologies were far out of reach and we think only as just the creation of the mind but due to the brilliant minds, everything is almost at hand already. Technology creates another technology and so the business industry as what I have observed must go with the flow of the trend of the society in order for the business industries to survive or else there will be possible closure of the company.b. How didKnowledge Managementand Information evolve?-Knowledge Management is one of the hottest topics today in both the industry world and information research world. In our daily life, we deal with huge amount of data and information. Data and information is not knowledge until we know how to dig the value out of of it. This is the reason we need knowledge management. Unfortunately, there's no universal definition of knowledge management, just as there's no agreement as to what constitutes knowledge in the first place. We chose the following definition for knowledge management for its simplicity and broad context. Simple Definition:

Knowledge Management (KM) refers to a multi-disciplined approach to achieving organizational objectives by making the best use of knowledge. KM focuses on processes such as acquiring, creating and sharing knowledge and the cultural and technical foundations that support them. Knowledge Management may be viewed in terms of: People how do you increase the ability of an individual in the organisation to influence others with their knowledge Processes Its approach varies from organization to organization. There is no limit on the number of processes Technology It needs to be chosen only after all the requirements of a knowledge management initiative have been established.Or Culture The biggest enabler of successful knowledge-driven organizations is the establishment of a knowledge-focused culture Structure the business processes and organisational structures that facilitate knowledge sharing Technology a crucial enabler rather than the solution.

The History of Knowledge Management1. 70's, A number of management theorists have contributed to the evolution of knowledge managementPeterDrucker: information and knowledge as organizational resourcesPeter Senge: "learning organization"Leonard-Barton: well-known case study of "Chaparral Steel ", acompanyhaving knowledge management strategy2. 80's,Knowledge (and its expression in professional competence) as a competitive asset was apparentManaging knowledge that relied on work done in artificial intelligence and expert systemsKnowledge management-related articles began appearing in journals and books

3. 90's until now,A number of managementconsultingfirms had begun in-house knowledgemanagement programs. Knowledge management was introduced in the popular press, the most widely read work to date is Ikujiro Nonakas and Hirotaka TakeuchisThe Knowledge-Creating Company: How Japanese Companies Create theDynamicsofInnovation(1995)The International Knowledge Management Network(IKMN) went online in 1994Knowledge management has become big business for such majorinternational consulting firmsas Ernst & Young, Arthur Andersen, and Booz-Allen & HamiltonThese are the most prevalent examples. A creative approach to KM can result in improved efficiency, higher productivity and increased revenues in practically any business function.Knowledge Management TodayAccording to a recent IDC report, knowledge management is in a state of high growth, especially among the business and legal services industries. As the performance metrics of early adopters are documenting the substantial benefits of knowledge management, more organizations are recognizing the value of leveraging organizational knowledge. As a result, knowledge management consulting services and technologies are in high demand, and knowledge management software is rapidly evolving.

Knowledge Management DriversThe main drivers behind knowledge management efforts are:Knowledge Attrition: Despite the economic slowdown, voluntary employee turnover remains high. A recent survey by the global consulting firm Drake Beam Morin revealed an average voluntary employee turnover rate of 20 percent with 81 percent of organizations citing employee turnover as a critical issue. Estimated annual costs of employee turnover was a staggering $129 million per organization. Much of this cost is due to knowledge attrition, which can be effectively minimized using knowledge management techniques.Knowledge Merging: Since 1980, the annual value of mergers has risen 100 fold reaching a cumulative $15 trillion in 1999. Over 32,000 deals were announced, triple the number of 10 years earlier and more than 30 times as many as in 1981. The recent frenzy of corporate mergers coupled with the increased need to integrate global corporate communications requires the merging of disparate and often conflicting knowledge models.Content Management: The explosion of digitally stored business-critical data is widely documented. Forester Research estimates that online storage for Global 2,500 companies will grow from an average of 15,000 gigabytes per company in 1999 to 153,000 gigabytes by 2003, representing a compound annual growth rate of 78%. As the volume of digital information expands, the need for its logical organization is critical for purposes of informationretrieval, sharing and reuse.E-Learning: As the economy becomes more global and the use of PCs more pervasive, there has been a dramatic increase in e-learning, also known as computer based training. E-learning is closely linked to and overlapping with, but not equal to knowledge management. E-learning can be an effective medium for knowledge management deliverables.

These technologies roughly correlate to four main stages of the KM life cycle:Knowledge is acquired or captured using intranets, extranets, groupware, web conferencing, and document management systems.An organizational memory is formed by refining, organizing, and storing knowledge using structured repositories such as data warehouses.Knowledge is distributed through education, training programs, automated knowledge based systems, expert networks.Knowledge is Applied or leveraged for further learning and innovation via mining of the organizational memory and the application of expert systems such as decisionsupport systems. All of these stages are enhanced by effective workflow and project management.The Implications of Knowledge Management For...Database Users: From business class users to the general public, database users will enjoy a new level of interaction with the KM system including just-in-time knowledge that delivers precise relevant information on demand and in context. More complex, smart systems will translate to optimal usability and less time spent searching for relevant information. For example, data analysts will enjoy simplified access and more powerful tools for data exploitation.The use of knowledge bases can reduce customer service costs by providing customers with easy access to24/7 self service via smart systems that reduce the need to contact customer service or technical support staff. Database users may even create customized views of knowledge bases that support their needs. Database Developers:The design and development of knowledge based systems will be considerably more complex than current database development methods. Developers must consider the overall technical architecture of the corporation to ensure seamless interoperability. The use of standardized metadata and methods will also facilitate both intra-corporate and inter-corporate interoperability. Making effective physical storage and platform choices will be equally more complex. Both knowledge base developers and administratorsmust understand the role of the knowledge base in the overall KM system.Database Administrators: Database Administrators will evolve into Knowledge Managers. The knowledge base will store and maintain corporate memory and Knowledge Managers will become the gatekeepers of corporate knowledge. The lines between technical roles such as Web Developer, Data Analyst or Systems Administrator will blur as these systems merge into and overlap with KM systems. DBAs will need to have some knowledge about each of these disciplines.General Public:Even if they are not interacting directly with a knowledge base, the general public will benefit from the secondary effects of improved customer service due to faster access to more accurate information by service providers.Source: http://www.unc.edu/~sunnyliu/inls258/Introduction_to_Knowledge_Management.html

b. Why do you think the video is entitled Day of theLong Tail?The tail of a distribution represents a period in time when sales for less common products return aprofitdue to reduced marketing anddistribution costs. Long tail is when sales are made for goods not commonly sold. These goods can return a profit through reduced marketing and distribution costs.The long tail also serves as astatisticalproperty that states a larger share of population rests within the tail of aprobability distribution, especially when it comes to buying patterns.I think it is entitled as such because of the idea that the business world is evolving , wherein, contemporary times brought about by technology ,you are able sell your products or market through the net without face to face interaction.

c. What do you think are the 2 gentlemen in the Days of the Long Tail referring to when they said the audience is planning?-In the video presented, I think the gentlemen referring to when they said the audience is planning is that the audience as consumers of the products gives judgment or paves a way whether a certain product us marketable or not thus leading to the success of a certain company.d. What do you think are the characteristics of KM in the 21stCentury?

-Present and Future State of KMCurrently, communities of practice such as the Knowledge Management Network and the development of standards and best practices are in a mature stage of development. KM curricula such as certification, corporate training and university graduate certificate programs are on the rise. Techniques such as data mining and text mining that use KM for competitive intelligence and innovation are in the early stages of development. Finally, organizations are investing heavily in ad hoc KM software that facilitates organizational knowledge.

The Future of Knowledge Management

In the next several years ad-hoc software will develop into comprehensive, knowledge aware enterprise management systems. KM and E-learning will converge into knowledge collaboration portals that will efficiently transfer knowledge in an interdisciplinary and cross functional environment. Information systems will evolve into artificial intelligence systems that use intelligent agents to customize and filter relevant information. New methods and tools will be developed for KM driven E-intelligence and innovation.

e. What are the messages of both videos?-The messages of the videos as what I have internalize is that the rising of technology brought many positive as well as negative impacts on human being. Dating back in the early times where information is limited and technology is not as hi tech as today we are able to utilize things that are deemed necessary for our survival. But as the growth of technology and information are at the tip of our fingers, and so sometimes or most of the time the credibility of such information is questionable. It is therefore ,we must use our intelligent judgments and critical thinking analysis in dealing as such. It is also one impact of technology as what I observed is that it sometimes infringe such family values ,leading their relation to drifts apart. Technology must be used in a way that we are superior to them and not the other way around.