June 16, 2013

Formula for success

To me it is very important for organizations to be able to run smoothly without any hindrances. I know that if I were a manger in charge of a particular assembly line and it were my job to properly manage the staff and maintenance of assets in order to avoid any hindrances I would do my level best.

Of course it is important to consider at this point that my opinion about all of this is based on my MSC degree and I have a high level of knowledge on worker behaviour and why they are a company’s top priority.

Most managers do not realize that the way they manage their workforce is the way they can gain a competitive advantage as compared to other firms in the same industry.

Innovation is key! No matter how many times I state this in my blogs it is not enough. The 21st century is different and it requires a different method of management.

Treating workers as assets will lead to them feeling motivated and values which will lead to innovation and increased knowledge sharing which in turn will lead to high productivity and efficiency and in turn competitive advantage.


Amalgamation

There are several methods of maintaining assets, methods such as preventative maintenance and constant maintenance throughout the lifecycle of the machinery.

Methods vary depending on the industry and their individual requirements. What is important to understand is that maintenance is not a one of thing it has to be a part of the business in order to avoid and hindrances in the production process and delays in orders. In my previous blogs I have discussed the importance of knowledge and how it affects the business in achieving excellence in the 21st century.

It is important for firms of today to appreciate the benefits knowledge management can give to an asset management strategy.

KM will allow workers to start gathering information, then storing that information and in the end using that information. These three steps make a very big difference in the way a firm is run as knowledge is constantly gathered and shared. Hence, Excellence is achieved!


June 15, 2013

Cars break down if you don't maintain them!

If you have a car and you keep on using it without ever getting its check for maintenance chances are it will break down in the middle of the road and you will be in a bad situation.

In the same way, if we imagine that an organization is a car like in the example which has machinery and other assets which need to be managed but are constantly ignored by its employees and managers they chances are the assets will begin to depreciate at a startling rate leading to more breakdowns and delays in deliveries.

In a business environment it is not acceptable for any delays on deliveries as it leads to customers being dissatisfied and future orders being cancelled. In my opinion preventative and constant maintenance management is the best strategy to avoid any problems in performance.


Managing your intellectual capital

The management of an organizations asset has become a HOT topic these days. It’s not a passing trend in my opinion because a lot of what I have come across in journals and books on the subject. An asset for an organization is no longer a physical asset as it used to be in the past. There is a huge difference between the frame of mind of an organizations management in the past and today.

Today’s management realizes that its intellectual capital requires much more attention as compared to its physical assets. A majority of renowned authors agree that in order to gain competitive advantage in today’s global market it is important to manage an organizations intellectual capital.

Harvesting the knowledge in the brains of the workers and using it for innovative new services and products is a norm these days. The challenge for companies is the way in which they harvest this knowledge.

Blogging and having an IT system which store this knowledge for future workers seems to be the most reliable ways of assuring the knowledge will be made available to everyone.


The power of Knowledge

The knowledge each worker possesses is of great value in today’s fast paced technology reliant world. It is no wonder that great management gurus such as Drucker and Deming consider workers to be of great value to an organization.

Today’s organizations require innovation and we all know that for innovation there needs to be an amalgamation of different ideas and perspectives. Team work and brainstorming is said to be a key activity in today’s organizations. Managers need to properly manager their knowledge assets (workers) in order to gain a competitive edge in today’s economy.

In the case of WaveRiders the consultancy has devised a Knowledge management plan which will not only manage the current knowledge assets but also store the knowledge as it is being learned by all its workers. This can be called a knowledge inventory which can be used by future workers in order to help them trouble shoot similar problems etc.

All in all knowledge is of great importance in the 21st century for any organization to succeed and so it is my opinion the KM strategies should be devised properly with regards to the company’s individual needs and characteristics.


May 03, 2013

The Presentation

Today we had a new experience in presenting as we had to be judged by a board of directors and they would assess our consultancy and its methods of implementing knowledge based assets management approach in WaveRiders.

This gave us a real life scenario and we were all presenting as it the board of directors were not our classmates but in fact real WaveRider board members. This brought a level of maturity and professionalism to the presentation. Up until now we were presenting in our casual attire and for this presentation we were all professionally dressed.

This level of professionalism gave me a glimpse of what I might encounter out in the big bad world of business and I believe was able to make me more professional and strong to handle the challenges which will be heading my way in the future.

There will be long meetings and presentations and it is important to bring in a level of professionalism.


May 02, 2013

Managing the knowledge

Knowledge is the basis on which a company can achieve greatness if it finds away to collect, store and use that knowledge. Knowledge is to no ones advantage if it is possessed by only one person who can then be transferred or tiered taking the knowledge they possess with them from the company.

The purpose of knowledge is to be harnesses by the organization and for everyone within that organization to be able to use that knowledge to improve a process or method.

Hence, its clear that knowledge plays a critical part in the management of assets as well. The link is visible in the way the assets are managed and how they are maintained during their lifecycle.

Knowledge management is the road to excellence in y opinion as the Demings cycle of continues improvement is achieved through the constant gain in knowledge.


April 29, 2013

Responsibility rather than regret

Today’s workshop was a real eye opener in a lot of ways for me. Firstly, I have always been bothered about my actions and how they would affect my future and the ones around me. Doesn’t matter if it’s something related to the future of a company or me personally I have always been quite observant of my present due to its effect on the future. Of course to most people this might be something resembling paranoia to me its always been about being logical and careful about the decisions you make as that will define you for the rest of your life.

However, one thing I never considered before today’s workshop was that I can be as observant and careful as I can be but when working in a team its not just me who needs to be observant. The case of the Workers dying due to nitrogen suffocation, the blast in the chemical factory, the team repairing the Australian helicopter they all have one thing in common which stood out beyond everything else for me.

The lack of a knowledge sharing system. As Mr.Roberts explained in 4 letter words. SoPK!

We are almost done with MBE and so far all the theories and management styles I have come across do not mention how faults can be taken out of a system. That is except for the SoPK by Deming. His ideal of making the whole system interact with one another is what could have made all those sad events avoidable.

I am but only a part of a system and I do not have the strength or the capability to manage a whole system perfectly on my shoulders and so events such as the ones discussed today are likely to occur.

HOWEVER, give me a team where there is a sharing of experience and knowledge from top to bottom and I will have a team who can manage the system with me making it highly unlikely for such events to ever occur again.


April 22, 2013

Final thoughts

This RDM module I can say with full confidence has given me a new perspective on how to make decisions which would be robust and reduce uncertainties. Of course with the economic conditions of the world economy these days it is hard to be certain about anything. However, this is not to say that one cannot be cautious in their approach to making a decision which would cost a company a fortune.

The need to be focused and consider all the alternatives available and the risks that accompany them is more important than ever before. Managers need to be certain about the decisions they make as it affects not only the company but the people associated to that company.

Decisions made on just a mere whim can be catastrophic hence robust decisions with the use of tools as mentioned in this module are the best method to safeguard a company from future uncertainties.


April 20, 2013

Gather, Retain and Use

This course has been about managing a company’s assets with the use of knowledge management tools and techniques.

Knowledge management in itself is a very vast subject and can be considered to be very helpful in the success of most companies these days. The aim for these companies is to acquire, retain and distribute the knowledge gained within the company and make it available to every individual to use for the betterment of the company.

Knowledge management for each company can be different as it depends on the size of the company how well it can gather, retain and use that knowledge. Large companies tend to use a sophisticated IT system to gather, retain and use knowledge whereas SME’s would not opt to invest a heavy amount of money in to an IT system due to lack of funds etc. They would rather invest in training, workshops etc.


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