DBS one of largest organisations in financial sector of Asia

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DBS one of largest organisations in financial sector of Asia

DBS was established in 1968 as the development bank of Singapore Since then DBS has transformed into a successful financial services institution offering a comprehensive range of innovative products In Singapore the bank occupies marketdominant positions in consumer banking treasury and markets asset management securities brokerage equity and debt fundraising Going internationally the bank has a regional network with more than 200 branches and over 1000 ATMs across 50 cities

DBS primary operations are in Singapore and Hong Kong two of Asias best regulated markets which contributed 65 and 19 of net profit in 2008 respectively The bank operates two brands in Singapore DBS and POSB POSB is a wellloved mass market franchise that currently has a customer base of over 32 million Singaporeans

As one of the leading banks in Asia DBS gains a massive global workforce of 14000 staffs representing over 30 nationalities The bank announced S6031 million of operating income in 2008 DBS philosophy is to empowering educating and engaging our staff so as to build a high performance organization renowned for its good customer service and innovative business solutions

Because of a massive amplitude and complexity in operation as an international largest organization and striving for an adequatecontent report it is ineffective to investigate whole aspects of DBS in the effort of implementing Knowledge Management Instead this report will specify in exploring the DBSs concept and its basic approaches to fundamentals of Knowledge Management Key content will focus on identifying Knowledge Management process building Knowledge Management System Mechanism and Technology ultimately Infrastructure Challenges and benefits gained from implementation process are also mentioned in the report as well as recommendation and analysis

Throughout years of operation DBS now understands the depth and significance of Knowledge Management In its development journey DBS learnt that this conception must be essentially seen as a vitally critical point an innovative strategy towards a sustainability business model rather than a diverse and complex risk That right and visional direction are now put primarily on one of the longterm goals of the organization Moreover DBS business is in banking and finance industry where multiplicity of information and knowledge is created and updated every hour the need of Knowledge Management becomes critically essential than ever

To start with DBS sees official meetings as an approaching mechanism for knowledge discovery As the nature of the business the need for valuable information which then converted to knowledge is critical for the bank This knowledge is defined and explored by neither the interaction between people in the organization nor just simply synthesized from previous data For instance there is always a meeting in Sales Department which also has a presence of Branch Manager every Monday morning to revise previous works and orient sales activities for the week More significantly Board of Directors and Management committee also arrange official meetings 4 times every quarter to undertake a careful overview of decision making in various levels and aspects of the organization

Telephone conversation is also applied in the process of knowledge discovery However it is stated that not preferable as DBS values face to face conversation where information can be transferred and conveyed in a full meaning of ways

To enhance Knowledge discovery DBS also invested in technology One exemplary approach is the development of DBS database This is an organized collection of data for people within the organization However accessibility in sensitive information may not be exposed to every employee A very useful and beneficial application of DBSs database is its customer databases In order to promote loans risk management and further observation DBSs customer database is constructed to record contact credit and personal inform

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