All entries for April 2013

April 21, 2013

The magic mix

Currently working on KM strategy and trying to find a perfect mix of different development programs that will provide employees in WaveRiders with the best theoretical knowledge and practical skills for making AM decisions. However, it is hard to say what is the perfect mix.

According latest Hay Group review on personnel development, company mainly has three directions, which are:

  • Experience – (some companies do nothing more than that) moving people from one functional area of responsibilities to another and setting assignments to insure they get the right depth of experience;
  • Coaching – developing a one on one plan where individuals work on specific areas that have been identified;
  • Academic studying – some organizations provide their employees with short-term courses in universities or colleges with the aim of getting advanced theoretical knowledge in some field.

As it was mentioned in review the 70/20/10 is usually the common combination of those ingredients. However, many executives now consider that there should be more academic studies. As it usually happened, after developing essential skills, it is not necessary that person have a deep understanding of how to apply those skills and what is their nature. Thus, he or she might not be able to apply new skills as efficient as if he/she had theoretical background in that field before. Therefore, in searching of a perfect mix for WaveRiders, it can be assumed that 60/20/20 combination of experience, coaching and academic studies might be more appropriate as we consider AM decisions and there nature. For example, how we can make decision on assets’ investment if we don’t have deep understanding of its relation to other business processes and how this decision will influence business system as a whole. 

April 17, 2013

Aligning Knowledge Management strategy to business strategy

At this stage of team work we were asked to check the moodle to have an overview on asset management and knowledge management + tasks we also divided. Thus, I am currently working on knowledge management strategies and knowledge acquisition. I faced the problem that to do my part of work I need to have some knowledge about asset management strategy, as knowledge management (KM) strategy should be linked with business objectives. There is something I found out:

  1. There are two types of knowledge which implies two types of KM strategy. Explicit knowledge that can be collected, stored and transferred and tactic one which are personal and context-specific, thus, difficult to formalize and communicate.
  2. Tactic knowledge implies Personalization strategy which helps people communicate their knowledge. Explicit knowledge, in turn, implies Codification strategy that has the objective to collect knowledge, store it in databases. The key question here: Is Codification actually a strategy or it can be a process? To my mind, this is a process that implies developing procedure of recording and storing information.
  3. As the practice shows, both of those strategies can be applied.
  4. To make a decision on which strategy to choose, it is essential to identify asset management strategy. There are two main directions: innovation – to make robust decision on assets’ investment; efficiency – to effectively use current assets.
  5. Aligning asset management strategy to KM strategy. Thus, if the aim is innovations – the Personalization strategy can be applied, as it implies successful knowledge transfer; if the aim efficiency, then the Codification strategy can be chosen as it helps to externalize and re-use knowledge. As our asset management strategy covers both aims it can be suggested to use both KM strategies.

April 16, 2013

MBE approach to studies

Seriously, I like MBE approach to studies, - on Monday we had only one lecture (brief introduction to the topic) and then we are let to explore the topic as we wish….or almost as we wish. Basically, we were given a task and while doing it we are supposed to learn something new that will be stay with us for the rest our lives…Lets see!

So coming back to task, it is essential at first stage to develop a clear understanding of what actually is asked to do. “help WaveRiders develop its approaches to asset and knowledge management to meet the criteria of the European Excellence Model” At this point, I am confused. Should we study asset management and knowledge management separately? Or we should find out how knowledge management can contribute to asset management?

After answering this question and understanding if we need to study one or two topics, we then can find the EFQM criteria’s requirements concerning the topic/topics. Thus, if we talk about asset management, the EFQM criteria could be Partnerships & Resources. If we consider knowledge management, then EFQM criteria would be leadership, people and strategy.

To sum up, MBE approach to studies encourages you to ask more questions (just as with this task). And while you asking yourself, you create linkages between concepts, theories and studies and, thus, finally, came up with new findings and knowledge.


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Most recent comments

  • I would say knowledge "lean" folks understand the and the need to respect people (share success and … by John Hunter on this entry
  • Come on Cheryl, these all are just my observations based on lectures materials!))) by Arina Borodina on this entry
  • i think u get a lot material to write ur PMA!! good for u by Tzu-i Yang on this entry
  • Your welcome and I couldn't agree more with your post. Indeed many companies have heads and not lead… by Lorraine Karuku on this entry
  • Thank you for comment! And I totally agree with you that "we need good quality leadership to improve… by Arina Borodina on this entry

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