May 31, 2011

after pma

This pma was undoubtedly one of the hardest one we had in the entire course. at first I had problems linking the asset management with knowledge management. but towards the end, once i understood what was expected from us, i could  relate it. At the end of the day,  i understood the importance of knowledge management and also to know the impacts of not having a knowledge management system in place. Overall it was a great learning experience. I hope this would help me in the future. 


Knowledge economy, internet and globalization


To start with , the rapid development of the Internet in the past ten years has resulted in an escalation of the global economy. This globalisation has had a profound impact on both the economies of nations and the pressures on countries to compete effectively in this new global environment.

The globalisation of the economy has also raised new issues of nationalism and protection of local culture. Yet, the pressures for change, brought by this new phenomenon, have also meant that countries can compete on a global scale. In this new environment two of the most important commodities of a nation are becoming information and knowledge. 

This makes me think on the impact of knowledge and the scope that we might have received from the the module KBAM

May 29, 2011

managing knowledge

The most important aspect of knowledge management is not only to collect the explicit as well as the implicit knowledge within th the organisation but to process it. If one cannot use this knowledge at the right time, there is no point of it. As Awad (an author) said knowledge management is about ensuring the right information gets to the right people at the right time to make the right decisions. So managers should  ensure that this system is carried out effectively otherwise is will be of no use.


kbam

After studying kbam, I now know how important this is in management practices. One of the major challenge in the implementation is to collect, analyse and then give out the existing knowledge, especially when we talk about tacit knowledge. Therefore an organisation must have an effective tool for this purpose. If an organisation has a good system in place, it will have a very positive affect on the employees. Knowledge sharing sessions, more face to face interactions or even blogs can be used. These practices will encourage employees to share ideas, increase job satisfaction and create an open culture within the organisation finally affect the learning process of the employees and also improve the organisation’s work process. 


May 16, 2011

Health and safety

Health and safety is an important issue...and i fail to understand how managers do not pay enough attention... For example in india....a country that has one of the fastest growing economies in the world is far..far behind many countries on this aspect. I was talking to a friend of mine who is in the coal mining business.... he was telling me about how there are many workers who havent been given proper shoes and gloves to work with...i was shocked hearing this...apparently this is quite normal...even though there are several laws making it manditory..I guess that the managers as well as the owners think it is less profitable and all these isues are a waste of money...I hope the governament as well as NGOs take notice of this and do something..... 


May 02, 2011

Confirmation bias in decision making


This is one of the most prevalent biases we make in our decision making. This is our tendency to gather and rely on information that confirms our existing views and to avoid or downplay information that disconfirms our pre-existing beliefs. Confirmation bias is certainly a human tendency to seek out information that confirms our existing world views rather than challenges them. Likewise, we tend to interpret ambiguous evidence as supporting our views, which is a common mistake in decision making and the well known example can be politics


Impact of delegation on decision making


Effective delegation makes for faster, more effective decision making. An organization becomes responsive to change in the environment when decisions are made by those individuals closest to the problems that is, responsibility and decision making are pushed further down in an organization. Individuals closest to the problem have the most information on which to base an intelligent decision. Decision making can be achieved more expediently through delegation, thus allowing the organization to be more responsive and hence more competitive. When team members participate in decision making there is an increase in employee motivation, morale, and job performance. The greater the employee participation, the greater the employee commitment to the job and the organization that increases flexibility of operations.


Managers–do they make really good decision


After coming across an article I was wondering what happens when managers fail to make decision, how his top hierarchy takes such situation. For instance when we worked for the IMW we worked out various solutions to incorporate....but if Waveriders was a real company then on basis of what they should have made their judgement and choose one solution from all the presented solutions. Anyone can make decision but that decision is justified to give more meaning to the entire situation.


Decision–making and politics


During the module and the PMA we have read, spoke, argued a lot on decision making and how it effects various organizations in positive and negative ways. Managers use various decision-making tools to take decision regarding product launch, new entry, etc. as there is always a risk of profit or loss in terms of sustainability, investments. But I wonder how will this be applicable in politics. The term politics itself speaks about sensible, judicious aspects involving factors or variables that are subject to controversy. Any political decision making always recognizing the role of personality (leader), factors like personal intuition, communication skills, compassion, ruthlessness, dogmatism, etc. becomes the critical factors effecting a political decision. When we look at leaders like Winston Churchill or Gandhi, their political decision was creative in nature but we should also keep in mind that that these decisions are present political world is more or less destructive in nature. So what makes these leaders to take such decisions, if they use any professionalize methods of making decisions then why is that the nation suffers. Is only publicizing matters and effecting or influencing decision with behaviors makes the sense for politics? Kindly advice on this…..


April 30, 2011

Autocratic Vs Democratic decision making

Autocratic approach to management, installs more trust in the leadership as opposed to the individual staff. This involves pulling rank and leaves employees in no doubt as to whom the management is or what decisions are being made. Rather than engaging employees within the decision making process, this business management style typically concerns businesses that require direct, effective leadership to produce results, often under pressure of working in a tough environment. Upon hearing the term autocratic, many tend to visualize a dictatorial approach to management. While that is perhaps the case, it is seldom as strict as this and it is often a necessary management style, for example in the armed forces or in a high-paced trading environment, where there is no margin for deliberation and group consideration on the other hand, democratic style, involves employees and engage them in consultation before decisions are made. While some consider this to be more motivating and more enjoyable to work under, it does nevertheless have its own disadvantages. Giving employees a say may undermine the authority of the management, and may ultimately cause inefficiencies in the decision making process. It is also time intensive, and perhaps not as effective in larger organisations with thousands of employees. While of course at a boardroom level this kind of decision-making goes on everyday, one that works most effectively in slower paced business where decisions can be fully deliberated and considered.


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  • It's the same with our studies and degrees (current and past). Studying without applying what we've … by on this entry
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