MODEC

Knowledge Sharing at MODEC

Knowledge Sharing at MODEC

Executive Summary

Knowledge sharing or knowledge management is a systematic process through which the organization create, store, distribute and apply the basic elements of intellectual capital necessary for the success of the organization, strategy, transforming all types of intellectual assets in higher productivity, efficiency, and new value. Knowledge development occurs in an organizational context, especially in a process context and this plays an important role in determining the efficiency and effectiveness of the overall process. Learning can take place in these processes through knowledge sharing between individuals, who internalize knowledge and create new knowledge through a trial and error process that provides access to sticky knowledge. Knowledge sharing is the most important knowledge process for enabling team innovation. This paper discusses the knowledge sharing in the organization MODEC, the barriers of the knowledge sharing and how to overcome these barriers.

Background of the Company

Company Overview

The full name of MODEC is Mitsui Ocean Development & Engineering Co., Ltd. The company was established in 1968. The first ever growth of MODEC entailed designing and construction of off-shore construction vessels. Later, during the mid 70s, the company started off the construction of drilling rigs. In 1986, MODEC began to operate the unit of Floating Production Storage and Offloading (FPSO) vessel (modec.com). Now, MODEC is providing the maintenance and operation services to FPSOs around the globe. The Company opened its first office in Houston in 1972, the second in Singapore in 1998 and the third one in Brazil in 2003. Lately, in 2007, the company entered into a joint venture for development with Toyo Engineering Corporation and Velocys Inc, to create and commercialize the technology of Gas to Liquid (GTL) for use at offshore locations. The headquarters of the company are located in Tokyo, Singapore and Houston; whereas, MODEC has its regional offices in multiple countries, including Brazil, Mexico, Angola, Ghana, Vietnam and Cote d'Ivoires (modec.com).

Products and Services

The company specializes in construction and installation of floating production systems which include Floating Storage and Offloading (FSO) vessels, FPSO vessels, Tension Leg Platforms (TLPs), Offshore Mobile Production Units, Production Semi-Submersibles and some other state-of-the-art technologies which can beat the challenges faced by floaters of gas production. In addition to this, the company also specializes in providing procurement and engineering services.

MODEC's Goals and Objectives

The objectives of the firm include becoming the global leader in operating and delivering reliable yet innovative production systems (modec.com). MODEC aims to do so by developing teams of highly skilled, committed and proactive employees who are also focused towards crafting value.

Literature Review

For at least the past 10 years, accounting firms have been talking about knowledge management; most have done a poor job of capturing the tacit knowledge and a few have been able to capture the core knowledge through their document management systems. Even for those that have captured knowledge, it has often been difficult for others to locate and utilize it (Sackmann, 2001, pp. 45). Why is it important to capture knowledge, especially tacit knowledge? Here ...