Development of knowledge management strategies for properties management companies in Malaysia
The concept of knowledge management (KM) is a common concept in management theory. It has been practised in many fields such as business, human resource management, engineering, medical and science. Although it is a common concept in management, it can practically be implemented in property manageme...
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| Main Authors: | , , , , , |
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| Format: | Thesis |
| Published: |
2011
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| Subjects: | |
| Online Access: | http://eprints.uthm.edu.my/5598/ http://eprints.uthm.edu.my/5598/1/A014.pdf |
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| Summary: | The concept of knowledge management (KM) is a common concept in management
theory. It has been practised in many fields such as business, human resource
management, engineering, medical and science. Although it is a common concept in
management, it can practically be implemented in property management industry
particularly in Malaysia. The property market in Malaysia has shown a tremendous
growth due to the strong economic growth. This has put Malaysian property market in
on the radar from the investors1 point of view. From the global property performance,
Malaysia contributes 0.7% and ranked at number 18. Real Estate Investment Trusts
(REITs) has been introduced in Malaysia since August 2005 and it's contributes 0.3% of
global market and 2.4% of Asian market. Malaysia is ranked at no. 14 in the world RElTs
market. Malaysia also listed one of the transparent property markets in the world as a
result of a good performance in property sector. This indicator gives a significant impact
to property management industry in Malaysia. As property sector gives a significant
impact to economic growth in Malaysia, these properties needs to be managing as it
will gives good implication to the industry especially in RElTs business. Furthermore,
property management as part of the service in property industry also affect by the
rapid growth in this sector. Thus, it is believed knowledge management concept can
assist property management players to gives a significant impact to the property
industry. This research attempted to develop knowledge management concept
among the property management companies in Malaysia. The model based on nine
knowledge management strategies that have been developing through several
processes as well as validated by the major respondents in this research. The strategies
are identified as the major knowledge management concept that needs to be
developed in the property management companies in Malaysia. The KM strategis
model for property management are divided into 4 main models; knowledge
management area (in concept), 4 major strategies (in concept), 9 main strategies (in
details) and property management good practices. Overall, this research has
highlighted the existing of the knowledge management concept in property
management companies in Malaysia. With the competitive advantage of real estate
business is become more challenging due to globalisation process in the future,
property management companies in Malaysia needs to be evolved in order to stay in
the business. It is believed; the concept of knowledge management in real estate will
not only give a better way of management but also will generate more profit which is
the main target in any business in the world. This research has widened the knowledge
of knowledge management concept theory into real estate area particularly in
property management business. The model formulated from this study will give a better
idea for property management companies to strategise the KM strategies model
strategic management to put into practice in organisation. |
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