All entries for Saturday 15 June 2013

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.


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