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Section-1: Knowledge Goals and Corporate Strategy

1. Where do knowledge issues make appearance, direct or indirect, in the goals of your organization? 2. Were the corporate goals translated into clear knowledge goals? Give examples! 3. What kind of knowledge culture is there? What kind of status does knowledge enjoy in your organization, and how can you demonstrate this? 4. Do you have some idea of what constitutes the ‘core knowledge’ of the organization? 5. Has management given directions in which this knowledge needs to develop in future? Answer: 1. Knowledge management is a key instrument for the Bank to achieve its full potential as the Knowledge Bank, by mobilizing global knowledge from inside and outside the organization and applying it to enhance economic growth and to maintain price stability in a timely fashion. We at Bangladesh Bank are carrying out its following main functions as the country‘s central bank:      formulating monetary and credit policies managing currency issue and regulating payment system managing foreign exchange reserves and regulating the foreign exchange market regulating and supervising banks and financial institutions, and advising the government on interactions and impacts of fiscal, monetary and other economic policies. We are discharging these functions in a forward looking, proactive, responsive and consultative manner. In our aspiration for ever higher standards of performance we are aware of our limitations in independence, logistics, professional know-how and appropriateness of skill sets in staffing; we are persistent in effort to overcome these limitations. In our work we shall preserve and further strengthen the already earned confidence and trust of the nation, to continue being seen as a respected institution to be emulated. I had been working in the Reserve Management and Investment Section of the Forex Reserve and Treasury Management Department and the main functions carried out by my department is stated below:

Many aspects of knowledge issues appeared either directly or indirectly to conduct above mentioned functions of my department/section such human knowledge.  Repayment of Government external debt including debt servicing and arrangement of miscellaneous outward remittances to meet Government forex requirement.  Making transactions in foreign currencies with authorized dealers on cash or spot basis. Settlement of transactions among ACU member countries through ACU mechanism. also collection of FC cheques on behalf of Government. 2. In certain areas corporate goals has been translated into knowledge goals and in some area it is under transmission phase such as people who have experience and knowledge about reserve management have been deployed in reserve management activities. Among these functions I am basically engaged in making transactions in foreign currencies with authorized dealers on cash or spot basis as a part of managing.   Maintenance of Clearing Accounts of authorized dealers in foreign exchange. Examples:      Understanding domestic and international foreign exchange market and foreign exchange jargons Understanding domestic and foreign countries policies/regulations regarding reserve management Being well informed about the current global issues and impacts Being capable enough to understand the technology/dealing system and settlement mechanism Making sure that actions are in the same alignment of organizational goals.  Keeping of the accounts for the funds/ loans received from donors and disbursement thereof. related knowledge. maintaining and investing of foreign exchange reserve held by Bangladesh Bank. world . of course. maintenance and investment of foreign exchange reserve held by Bangladesh Bank. technological knowledge and Management knowledge and sometimes. Management.

Core knowledge of my section:  The Fundamentals of Treasury Explores the treasury function in the context of the organization and introduces core concepts such as the time value of money. return and shareholder value. Knowledge culture in my organization is not at desired level due to bureaucratic complexity and top down approaches but still in my workplace (Reserve Management & Investment Section) there is some sort of knowledge culture because it is a very knowledge-intensive work. Knowledge culture is basically the organizational culture which encourages people to recognize and apply knowledge sharing as desirable behavior while organizational culture describes the collective perceptions. Identify a framework for managing financial risk and the key instruments used in its management.  Cash and Liquidity Management Examine the context for international cash and liquidity management which introduce the financial markets and cash management activities. beliefs and values of employees in the workplace. A knowledge community is present in my section of work which is very much informal which is characterized as open. regulatory and documentary issues and practical aspects of debt management.  Corporate Financial Management Reviews core corporate finance theory. the fundamentals of decision making methodology.  Capital Markets and Funding Explore core concepts of equity and debt and their associated public and private markets which also cover legal. techniques and systems have been developed. communicative cultures which encourage sharing. 3.  Risk Management Introduce the concept of risk.best technological equipments has already been set up in the dealing room (Bloomberg. 4.  Treasury Operations and Controls . collaboration and trust. business valuations and capital structure and the concepts of risk. tolerance. reuters etc) and reserve management tools.

5. Senior management always gives us direction and takes necessary actions for developing these knowledge in the future such asOrganizes training. 2. both intranet & internet are available to every employee to identify important knowledge needed for decision making process. and can they contact them easily? 2. memorandum. Section-2: Identifying required Knowledge 1. Sometimes. and office orders or through official press releases. Besides. employees contact with the internal experts over telephone/cell phone. What systems have the organization to support employees in their search for information that is missing? Are instrument such as knowledge maps in use? 5. Does the organization have an Internet search strategy. guidelines and of course from past experiences. The most effective way of get to know what projects are in progress or going to be taken through monthly bulletin ―Bank Parikrama‖ where every aspects of central bank is . It may be due to a wide a ranges of availability of resources such people can identify knowledge from different act/laws. through email and through official correspondence in identifying required knowledge. Are there examples about knowledge needed for important decisions available in principle that could not be obtained when it was needed? 3. In most of the cases employees can make a face to face contact with internal experts and it is not too difficult to contact with them. How do employees get to know what projects are in progress at the moment? 4. 3. seminar and workshop Arrange foreign training Accommodate different technological aspects. etc.Examine how policy. Employees get to know what projects are in progress at the moment through different official circulars. manuals. or people/ a unit who can help employees to search? Answer: 1. How can employees search for internal experts. objectives and controls are established to manage treasury activity efficiently and securely. So far my experience I had not been observed any occasions where knowledge needed for important decisions available in principle that could not be obtained when it is needed.

Some of the publications are: Bangladesh Bank Bulletin.e. Bangladesh Bank has a strong online presence among the government agencies.g. Bangladesh Bank publishes a range of periodical publications. and which very little. as well as various other statistical data.published monthly and sequentially. books. Its website has the most informative and resourceful website of the country regarding economic and financial information which can help employees to search and is continuously updating information for the end-users. economic reviews. research paper and reports that contain monetary & banking developments. or computer files. Bangladesh Bank has a strong online presence. other publications. reported and supervised. Establishment of Enterprise Data Warehouse (under process) that will bring the entire banking and FI industry under a single network through which data can be shared. Acquiring knowledge may result in advice like ―hire the right people‖. Section-3: Acquiring Knowledge 1. ―engage the right consultants‖ or ―build up alliances with others‖ etc. Besides. 5. documents. Implementation of Enterprise Resource Planning (ERP) has been a big step in automation of operational structure of the Bangladesh Bank. Internal networking system with required online communication facilities have been developed and in operation for the offices of Bangladesh Bank. 4. Did the organization fail to integrate external knowledge . The most important factor in knowledge acquisition is the extraction of knowledge from sources of expertise and its transfer to the knowledge base and then to . Its website has the most informative and resourceful website of the country regarding economic and financial information. Bangladesh Bank has hosted a number of international seminars on different economic and financial issues over the last several years. research reports. What are the main approaches for acquiring knowledge? Which channels are used often. sensors. Knowledge acquisition involves the acquisition of knowledge from human experts. What have they learned from this? What have they changed to improve external knowledge integration? Answer: 1. and scenarios – in the past? 3. and why? 2. Bangladesh Bank Quarterly. etc.

I tend to argue that my organization has never failed to integrate external knowledge-e. treasury operations and treasury management Develop capabilities in identifying and quantifying financial risks and formulating cost-effective risk management strategies Develop capabilities for advising corporate in Treasury and Financial Risk Management' 2. storage. In particular:    Acquire expert knowledge on treasury. and judgment usually expressed as rules. regulations and guidelines. Acquisition is actually done throughout the entire development process. and application of knowledge within organizations.g. The main approaches for acquiring knowledge in my work place are:      Acquiring knowledge from rules. retrieval. Although the importance of external knowledge is well recognized there remains a need for a better understanding of the organizational processes through which external knowledge is integrated. It is always tried by the organization it‘s level best to integrate external knowledge acquired from different research reports. other publications and scenarios in the past. Knowledge is a collection of specialized facts. research reports. procedures.return tradeoffs. transfer. . So. while underexposing external knowledge. Acquiring knowledge from experts Knowledge Acquisition from Databases Knowledge Acquisition via the Internet Other Computer-Aided Tools We have documented a Reserve Management Guidelines which is most frequently used because a clear instruction has given in the guideline about treasury function of Bangladesh Bank but it is difficult to estimate which channel of acquiring knowledge is used very little because different person acquire knowledge in a different way.the inference engine. publications and scenarios and it most of the cases it became succeed. Knowledge management has concentrated on the creation. Acquired knowledge will be required to manage treasury and financial risk management function efficiently and optimally after evaluating all associated risk.

Section-4: Developing New Knowledge 1. capturing.3. How does the organization support creativity or systematic problem-solving ability among the employees? Answer: 1. Creation of (new) knowledge is one of the main directions of work in the literature. Knowledge management is a modern term covering a broad spectrum of approaches. and many of them deliver credit-related services and returns on par with those of their world-class competition. Yet they lag behind their counterparts in developed markets in managing market risk and in applying this knowledge to the treasury unit. acquiring. and utilization. Where are centers of knowledge development in the organization? 2. where the classical examples are within R&D and topics of innovation management and creativity techniques are tackled. acquisition. Did the organization establish cross-organizational centers of competence that map scattered personal know-how and develop it further? How is it done? 5. Banks in emerging markets have worked hard to hone their credit-risk-management skills over the past decade. But to acquire external knowledge it needs to be identified first and there are three stages of integrating external knowledge such as identification. which shows some of this spectrum. How are they linked to the corporate knowledge goals of the organization? 3. By integrating external knowledge we have already taken different actions so that we secure our reserve management strategy. What continuous efforts are made to make tacit knowledge conscious and explicit? 4. sharing and using knowledge in any form to increase the performance of organizations might be a valid working definition for knowledge management. Creating. .

meeting with general manager and investment committee meeting are the channels of developing new knowledge.Developing knowledge may happen through research  Conditions:         Interaction & communication Transparency Integration Methods Experience groups Communication forums Lessons learnt Think tanks In my work place. the main knowledge centers are:   Bangladesh Bank Training Academy (BBTA) Bangladesh Institute of Bank Management (BIBM) Besides. suitably financing real sector investments in a limited way Review overall reserve management policies. with due attention to liquidity and risks of losses Through:    Upgrade facilities for investments in banks. 2. raising the need of review of investment policy and options Optimize returns from investment of resources. consider advisability of limited engagement in proprietary trading . monthly departmental meeting. including installation of Bloomberg trading platform Consider feasibility of setting aside part of reserves as a tranche in the nature of sovereign investment fund. Corporate knowledge goals of my section:   Foreign exchange reserves of BB have increased substantially in the recent past.

One of the hardest challenges of knowledge work is how to convert tacit knowledge to explicit so that it can be shared. does.g. However. Often tacit knowledge is considered knowledge that people carry in their heads or bodies and which is gained through learning or personal experience. In my work as a workplace learning and performance improvement specialist. but true mastery comes through the tacit knowledge built through experience. 3. One can read books and follow instructions on how to do both (explicit knowledge). For tacit knowledge. tacit knowledge in procedural or task based areas can be much more easily converted into explicit knowledge.. the knowledge centers like BBTA & BIBM organize different training programs aligning these corporate goals to develop new knowledge. dance. but to become skilled requires practice of a physical nature. and feels at each step in the process.. like breathing. These often will involve the analysis and conversion of the expert‘s knowledge into a process flow (complete with decision points). For explicit knowledge. . On the other hand. since it is knowledge which has already been captured and written down. think of all the books on your shelves or the manuals and procedure documents created by your company.) are something that may always remain predominantly in the realm of tacit knowledge. Skills that are predominantly psychomotor or kinetic (e. you just do them. think of the things which you are so expert on that it‘s difficult to explain them. and then further delve into what the expert thinks. pottery. massage.g. says. explicit knowledge is easy to put your hands on.Hence. I‘ve seen and led many projects that did just that—took the tacit knowledge of experts and turned it into explicit knowledge (to then ideally be turned back into tacit knowledge for the new learner). cooking or repairing an automobile. e. Yes we can read books about these subjects. etc. Many of the examples of explicit and tacit knowledge I think of actually can be considered two sides of the same coin.

The following chart explains various forms of knowledge and their transformation matrix: 4. If there isn‘t a need for a broad skill adoption. a mentoring or project allocation model won‘t work. In my work place. The key to mitigating the risk is in understanding the engagement model the team will have with projects and making sure it is in alignment with the needs of the organization. but enough of a demand to sustain a team full of experts. Section-5: Sharing Knowledge 1. I do believe that centers of excellence or competency centers can be a very useful tool for an organization. What information and communication technologies are currently used for sharing and distributing information in the organization? . when I‘ve questioned policies or suggested that ―the way we do things‖ could be improved if things were changed which means my organization support creativity or problem solving ability among the employees. an outsourcing engagement model won‘t cut it. I have never been received negative feedback from my organizational supervisors in the past. If the organization needs to introduce new skills to a broad audience. 5. top management has made continuous efforts to establish Bangladesh Bank Training Academy as a cross-organizational center of excellence that map scattered personal know-how and develop it further. But they also have risks associated with them.

Who provides the impetus for the use of these technologies? How was broad agreement achieved among the staff on the purposes for which they were to be used? Or was the technology allowed to develop an uncontrolled dynamic of its own? 3. Working together openly without holding back or protecting vital pieces of knowledge will result in more productivity and innovation than anyone could reach individually. BB has already introduced e-commerce. What specific obstacles in this transfer of good/best practice have noticed in your case? Answer: Sharing knowledge between colleagues improves the economical benefits a firm can realize from the knowledge of their employees. a historic move towards achieving higher productivity across all economic sectors .. automated clearing house etc. The necessity for sharing grows. What measures could management take to improve transparency in this area? 9.2. If employees want internal access to knowledge. and the organizations and its members are spread over various offices across the country or the world. This is true especially true for service firms like banks where often broad ranges of knowledge must be kept to provide intellectual services. because the network of bankers in most cases can raise significantly better professional advice than any individual. Is information and knowledge exchanged systematically with other units in the organization? 5. e-banking. Does the organization have various ways available of communicating knowledge to teams and other employees that concerns everyone promptly and widely? 4. Do these infrastructures work mainly on a technical or mainly on an interpersonal basis? What are the advantages of the current solution adopted by the company. are there parallel infrastructures that offer quick and non bureaucratic access? 6. and where do you see problems? 7. banking supervision and internal management. Because of increasing competition within banking industries any chance must be taken to increase the quality and productivity of services BANGLADESH Bank (BB) has adopted advanced ICT to be digitized in all spheres of its functions including monetary policy. Do employees in organization get an overall picture of the good/best practices of the company‘s core processes? 8. real-life experiences with certain questions and situations are an important asset.

Digital society means knowledge based society. e-banking. e-learning. Therefore. e-commerce. Bangladesh Bank. Banks have been allowed to make online money transactions. and facilitate online credit card payments in local currency. Availability of information helps increase productivity. BB has achieved a historic milestone in the trade and business arena. and reaching them to the doorstep of the common people. in fact. is at the forefront of the government's firm drive to digitise. departing from conventional banking with the introduction of e-commerce recently. transfer of funds (account to account). so we need a knowledge-based society.using mobile phone as a medium of money transfer and payment of utility bills. transform itself into a paperless organisation within this plan period. We have already formulated a 5-year strategic plan for the financial sector based on advanced technological applications to deliver services with utmost efficiency. If Bangladesh goes digital it will be an e-state combined with e-governance.the year of Golden Jubilee of our independence. efficient management and skilled human resources as well. The ultimate goal is to make BB a world-class central bank with high applications of technologies. for example. The universal role of Information and Communication Technology (ICT) is vital for socio-economic development of a developing country like Bangladesh. the vision encompasses much more. It should. There is a strong correlation between economic and social development of a country and its proficiency in science and technology. payments for trading goods and services. e-health and so on. Engineers could be pioneers innovating new applications of ICT. being the monetary authority of the country. e-agriculture. payment of utility bills through internet. a giant stride towards digital Bangladesh. the government has placed the vision of 2021 -. Digital technology makes doing things easily from any place -. The vision envisages a digital Bangladesh with excellence in information and communication technology and high-performing inclusive economic growth. ensures fair and competitive market and empowers marginal people. However. .including agriculture and SME through use of ICTs.

Indeed. The system was started in early November 2009 on experimental basis.) Then BACPS will accumulate all the information. Applying sophisticated methods. and send back to the BACPS for payment (further examination if any inconsistency like fund insufficiency or mismatch of signature etc. work out a . and send them to BACPS electronically. bring dynamism in business activities. Necessary preparations have already been taken in this direction. collecting banks will check the prima facie information of the submitted cheques. capture images and information. transaction code. connecting all banks for inter-bank transactions (e-banking). Installation of Bangladesh Automated Clearing House (BACH) is another remarkable event in the history of the financial sector in Bangladesh. routing number (numeric code assigned to bank branches for easy identification of origin and destination of the instrument). New cheques/clearing instruments (standardised) will contain Magnetic Ink Character Recognition (MICR) line that encompasses information regarding the amount. participated by some well-prepared banks. therefore. It will simplify the remittance channel and payment system and. will be established soon. Electronic fund transfer will also be possible in near future. and will send them to the Bangladesh Automated Cheque Processing System (BACPS) using a secured communication link. BACPS will then process and send the images and information to the paying banks for validation. the system needs only images and corresponding information of the submitted cheque leaves instead of a physical one. Therefore. after getting customers' cheques for collection in the bank-branch. and will conform to the international best practices and cost-effective solutions for cheque processing. Paying banks will examine the pertinent images and information. The system will support both intra-regional and inter-regional clearings based on a centralised processing centre in Dhaka and designated clearing regions. and will be inaugurated formally soon. clients account details. electronic payments will be considered as cash transactions. which will be regulated under the Anti-Money laundering Act as well as other relevant rules and regulations. cheque leaf's serial number and so on. It is expected that a national payment gateway.

On-line Credit Bureau has been started using advanced technology to establish online connectivity between CIB of B B and head offices of all banks and financial institutions. using cell phone as a tool. It is crucial to upgrade the capacity of CIB to the policy priority accorded to financial inclusion. . expand SME and agricultural lending. Recently. and therefore. Banks and financial institutions will be able to access the CIB data base online. lending institutions would not encounter any credit risk while extending lending or rescheduling facility. and increase overall growth of trade and business. As such. the cheque clearing time is expected to be reduced to one day for countrywide payment. enterprise data warehouse etc. Mobile banking. owners and guarantors. status on cheques. keeping records of cell phone numbers of farmers and small entrepreneurs. and get the credit report of the concerned borrower. and send it back to the collecting banks. or stop payment. extends banking services to the doors of the people. Meantime. BB has strengthened its monitoring and supervision activities on agricultural and SME loans with the help of the existing countrywide mobile network. In other cases. Basically a central bank reform program initiated ICT packages include networking. this will be a matter of couple of hours only. enterprise resources planning solution. and payment order. is expected to be launched by 2010. However. and so forth.. The database will consist of detailed information of individual borrowers. An account holder can check account history/statement. three commercial banks have been allowed mobile banking to accelerate inward remittance transfer with the help of the outlets of mobile companies. a project. Online CIB will minimize the extent of default loan by facilitating the banks and financial institutions with credit reports of the loan applicants very quickly. a pivotal component of risk management measures. banking application. with a view to ensuring efficient management of assets including human resources. initially.single net amount for each bank. Online Credit Information Bureau (CIB) report.

Therefore. BB has been encouraging green engineering by installing solar panels on its own premise and providing re-financing windows to support speedy development of solar energy. cash management. validation etc. which will provide all information and statistics of monetary. Enterprise Data Warehouse (EDW) creates an electronic data bank. distribution of schedules. access control etc. treasury and securities systems/module. it is also taking other banks and government agencies on board to ensure speedy.Under the networking program. In addition. sorting. biogas and effluent treatment plants all around the country. recruitment process under BB has been digitised (online application. Section-6: Preserving Knowledge 1. These are only a few examples of how fast the B B is progressing in the process of digitisation of its activities.). to ensure simplicity and transparency of tendering process. any official sitting anywhere (head office or branches) has access to the same kind of resources. Banking application includes automation of all the accounts with B B (banks. connecting almost 3. foreign exchange management. and also establishment of a central depository system (CDS) to build a platform for secondary trading of treasury bills and bonds.. financial institutions and government). currency management. How is the knowledge of a departing professional transferred to his or her successor? 2. all the departments of Bangladesh Bank Head Office and its nine branch offices have already been brought under a computer network (LAN/WAN). which covers announcement of tender. Does your organization have an electronic memory that gives access to important events. Enterprise Resources Planning (ERP) solution covers digitisation of procurement (eprocurement). and can share knowledge and information and ensure knowledge based management. B B is going to commence web based e-tendering system.100 PCs. trade and fiscal areas of the national economy. projects and documents in the company‘s past projects and history? . user-friendly financial services to all. And in all these activities the role of green engineers will be vital. Moreover. credible. Meanwhile. public debt management module. bidding etc. where all the concerned people of BB will have access to use it for further policy analyses.

3. culture. both in terms of its relationship with its staff. Once knowledge has been acquired and developed. where is it recorded.3. etc. 2. The likely fundamental conclusion is that knowledge cannot be reliably preserved indefinitely. or even to brief a team on current projects. Exit interviews are interviews conducted with departing employees for the organization to enable transfer of knowledge and experience from the departing employee to a successor or replacement. How does the organization measure knowledge resources? 2. Yes. How do they evaluate the corporate KM system and/or KM processes? Answer: .. in fact anything that determines the quality of the organization. store and retrieve data in a storage medium that is fault tolerant against many types of failures. issues and contacts. processes and systems. management and development. to assess and improve all aspects of the working environment. Can (scientific) knowledge be reliably preserved over the long term? We have today very efficient and reliable methods to encode. third-parties and the general public. We observe that the nature of stored and communicated information and the way it is interpreted is such that it always tends to decay and therefore must lost eventually in the long term. projects and documents in the Bank‘s past project and history. our organization have electronic data warehouse (EDW) that gives access to important events. and made accessible and retrievable ‗for ever‘? Answer: 1. suppliers. But does this guarantee – or does it even seem likely – that all knowledge can be preserved over thousands of years and beyond? History shows that many types of knowledge that were known before have been lost. Section-7: Measuring Knowledge 1. Knowledge from departing professionals being transferred to his or her successor in many different ways such as exit interviews. Good exit interviews should also yield useful information about the employer organization. customers.

shared and used is likely to lead you to focus on the wrong things. That being said. you are unlikely to be able to what works and what doesn‘t and therefore make an informed judgement regarding what to continue doing. Some of the more common approaches are outlined here for the purposes of providing a general overview. and what to adjust. There are a number of approaches that are increasingly being used to measure the value of. for a more detailed exploration. This can be done either at an organizational level. The aim is to provide organizations with a map to guide them from getting started right through to ‗institutionalizing‘ knowledge . they say. Elaborate measurement systems. the best and most logical approach is tie-in measurement of knowledge management with your organization‘s overall performance measurement systems. In fact some practitioners feel that measurement is premature at this stage and that trying to measure knowledge before you fully understand how knowledge is created. few organizations have the luxury of being allocated resources to implement something without being required to demonstrate its value. The American Productivity and Quality Center has developed a framework known as Road Map to Knowledge Management Results: Stages of Implementation. The knowledge management lifecycle Some organizations measure the progress of their knowledge management activities in terms of their maturity – how far ‗down the line‘ they are in implementing knowledge management practices and ways of working. and progress in. Without measurable success. Measuring the impact of knowledge management on the organization‘s performance: Given that the whole point of knowledge management is to improve the performance of your organisation and to help it to achieve its objectives. cannot currently be justified because we simply do not yet know enough about the dynamics and impact of knowledge.Measurement is undoubtedly the least developed aspect of knowledge management. And without measurable success. or for individual projects and processes. which is not surprising given the difficulties in defining it let alone measuring it. in practice. pointers to further resources are given in Resources and References below. knowledge and knowledge management in organizations. enthusiasm and support for knowledge management is unlikely to continue.

.management – embedding it in the organisation and making it an integral part of the way an organisation works.