Knowledge Management In International Letter Of Credit Business Of Commercial Banks

The strategic significance of knowledge management for an enterprise is to administer invisible knowledge asset in scientific and effective method, and to make the core competitiveness. In this way, sufficient supports may be provided for sustainable development of various business aspects, such as: market Analysis, customer Analysis, business strategies, professional research, product development, product promoting and selling. The applying of knowledge management in the business of International Letter of Credit by banks is important in the same way.Domestic banks in china have made good development in their International Letter of Credit business since the continuous growth of Chinese International Trade has offered it an appropriate macro-market, and they profited successfully in such development. But with increasing competitions in recent years, a number of problems encountered. For example, the efficiency of business operating can not be improved substantively because the manual operating is hardly to changed, unqualified internal exchange of information leads to powerless marketing, the homogenization of letter of credit products results in a vicious price competition, etc.To help the banks to overcome these obstacles, Knowledge Management is suggested to apply by banks so as to integrate knowledge assets relating to International Letter of Credit business and to construct the multi-level solutions. In the implementation of the solution programming, Project Management is suggested to be used.