All entries for June 2012
June 10, 2012
As we approach the end of this masters, all of us have gained significant knowledge, not only technical, but personal as well. I believe that we have been learning organisms, we created and shared knowledge in various ways, we have been open to new learning and so on. Knowledge management has been part and parcel of this year. But how each one of us handled this knowledge is a completely different thing.
Undoubdtly, we all have learned, but in various paces and levels. Thus, now that we are going to find a job (luckily) in a company, this knowledge has to be retrieved, so that we can prove that we are the right people for that position. If we fail to do so, someone else with the similar knowledge more of less can easily replace us. On the other hand, if we do use that knowledge and prove our value, but the company fails to recognise it, then the employer will lose the knowledge we brought into that company.
Consequently, since we have experienced almost every aspect of knowledge management in our learning, it is time to enact upon it and utilise it accordingly. Also, we should keep practicing the KM principles, since if we rest in our laurels our knowledge loss will definitely be someone else's gain. Therefore, we are exactly as any company when it comes to manage our knowledge...
The other day I was watching an episode from the well known show The Apprentice. This show generally offers many business lessons for both those who know about business and those who are out of the business world. In that episode the teams had to create an affordable luxury product. The team that had the most attractive product though wasn't the winner.
One of the lessons in that episode was the that team set a price on that product that was low enough to cover the operational cost of the supposed store. Of course someone would expect that the team members would have taken this fact into consideration when they were trying to find their price policy. However they didn't!
Thinking this fact, I tend to think that many entrepreneurs and small companies fall in the same trap. Therefore, here the property management is not executed well even though for the operational reasons, let alone the investment ones...
Hence, many companies can practically benefit from this lesson in regard to their pricing strategy and their operational costs. And a property's operational cost, especially when the company has only one property seems to be of prime importance. The obvious consequences of not being able to cover the rent or utility bills (not to mention wages) should always be in the mind of those responsible for the pricing policy in relation with the viability of a company.
June 05, 2012
Working on my PMA made me think of a lot of things concerning the real estate/property management as part of assets management. As I mentioned in a previous entry, there are some definitions of asset management that focus only on this category of management and consider literaly the word asset.
Many people choose to invest in asset management, and namely properties, as it can yield quite high returns. When it comes to companies it is a bit different. Companies have properties for two reason: operational and investement. And although the first may seem obvious, many companies fail to execute it appropriately resulting in high costs.
These costs involve not only maintenance costs as someone would think, but depriciation. And the second comes in mind of the finance department usually when it is the end of each fiscal year. For this reason, I firmly believe that companies need to reconsider their property portfolios regularly, so that they can utilize and exploite their assets to have the best returns possible.