May 04, 2013

KM

The idea of knowledge management is to construct psychology and technology into a knowledge based management system. Create a work place with information acquisition, sharing, integration, record, access ad update in order to achieve ultimate goal. I think knowledge management able to make the working environment more comfortable to work, and the employee can work and learn at the same time, which help the organizational development and sustainable growth. Like the example, where consultant helped the company to certain achievement, but after the consultant left the company, the company can’t sustain. But if the knowledge has been delivered to the organization, they would able to survive and make progress on their own.

From an employee point of view it is better to work for a company with share knowledge environment, because they can generate ideas from each other and lean from experience, reduce the risk of making the same mistake. Also knowledge management would improve work efficiency. The understanding of what you doing would make the job can be done more appropriately. I think one of the most important in knowlege management is to train the staff able to effectively and maximize use of their knowledge. The organisation knowledge system will be buil up by individuals.


May 02, 2013

Asset Management Strategy

The investment strategy has a huge impact on the asset, it has to be personalised to suit each company’s business strategy. A successful asset management could lead the company to stand out from the others and gain competitive advantages. Diversification investment strategy could help the company development, because all strategies had advantage and disadvantage, a single strategy would have greater risk and rate of failures.

Assets that worth more value is more difficult to manage, such as land and buildings and machineries. Land and buildings takes long process to purchase or sold and usually have huge impact on the company finance. Machineries is large part of company asset in manufactory organisation, the maintenance cost machineries is often very high so the organisation need to consider whether they want to keep the old machines or change new ones. I think these assets are not very flexible, if the asset can be more flexible it will be easier to manage. Should make change to asset management as the business strategy change, therefore able to maximise the benefit to support each other.


Asset Management

Asset management is to control the assets invested by investors though the whole life cycle. It can be an internal part of organisation and also external institutions or outsourcing. Asset management can be personal and industrial. There are many agencies that help people to manage their finance and obtain investment income.

In manufactory the asset is important part of the business, it involves such as property management, space management, environmental management, security, maintenance and health and safety. I think a good property management would be a strong support for business development, even if the business is ending the company still worth lots of value and may be able to help the company solve financial problems. Space management is able to support efficiency of work and minimize wastage of resources and inappropriate cost. I think space management is very important for manufactory organisation, because the layout of a work force will impact the effectiveness of employees to deliver work and also a big impact on health and safety issues.


April 30, 2013

Tacit and explicit knowledge

Tacit and explicit knowledge

Although tacit knowledge is something cannot be described, but I think someone somehow has to know and identify it in order to form the transaction from tacit to explicit. For example, if a manager observed a kind of activity he preferred from a particular employee. Firstly, he may have a standard in his mind, and that activity has meet his standard or even above it, or different and better compare his idea. So I think tacit knowledge sometimes come natural and randomly but sometimes can be identified if someone is deliberately looking for it.

I think tacit knowledge influenced by culture, where they always do things in such way from where they grow up, never realised and never thought why. But when you become internationalized and work with people from different background is tacit knowledge may be identifies. I think most activities individual does, is influenced by their tacit knowledge and this makes everyone different from each other.

Furthermore, tacit knowledge also can be commonly cause and special cause. It may happen just accidentally which made it difficult to catch and access. Tacit knowledge is generally more difficult to identify and understand compare to explicit knowledge. Sometimes may be just by luck sometimes can be tacit knowledge.


April 21, 2013

Different types decision

Modern enterprise operation and management activities of the complexity, diversity, determines the business management decision-making there are a number of different types.

(a) according to the decision's sphere of influence and the important degree is different, divided into strategic decision and tactical decision making

Strategic decision-making is refers to the enterprise development direction and development vision of the decisions that are important to the development of the enterprise overall, long-term, the major decisions of direction. As for the enterprise the management direction, operation policy, such as new product development decisions. Strategic decisions made by enterprise top leadership. It has extent effect time is long, wide range, the characteristics of the deep, is the basis of tactical decisions and central goal. It's correct or not, directly decide the rise and fall success or failure of the enterprise, decided to enterprise development prospects.

Tactical decisions is refers to the enterprise in order to ensure the realization of the strategic decision and management of local business decisions. Such as enterprise procurement of raw materials and machinery and equipment, production and sales plan, the source of the goods such decisions, the deployment of personnel, etc. Tactical decisions usually made by the enterprise middle managers. Tactical decisions to serve the strategic decision-making.

(2) according to the decision main body of the different, divided into personal and collective decisions

Individual decision is by the enterprise leader relies on personal wisdom, experience and knowledge of information for decision making. Decision-making speed, high efficiency are the characteristics of decision for conventional transaction and the urgency of the problem. The biggest drawback of individual decision-making is a subjective and one-sided, therefore, to overall situation major issue should not be used.

Collective decision-making is refers to the combination of up and down by the conference organization and decision making. Meeting organization decision-making by the board of directors, manager enlargement and workers congress authority members of the collective decisions together. And combining related decision-making is leading institutions and affiliated institutions formed by the combination of decision-making, leadership and the masses. Collective decision-making has the advantage that can give full play to the group of wisdom, put our heads together and decision carefully, so as to ensure the correctness and effectiveness of decision-making; Drawback is the decision making process is complicated, time consuming more. It is suitable for long-term planning, global decisions.

(3) according to the decision whether always repeat, divided into programmed and non programmed decisions

Programmed decisions, it is to point to the problem of making a decision is often appear problem, there has been a processing experience, procedures, rules, can according to the conventional way to solve. Programmed decisions is known as the "routine decisions". Enterprise production of the product quality is not qualified, for example, if the handle? Shops selling expired food how to solve? Belongs to the programmed decisions.

Non programmed decisions is to point to the problem of making a decision is not often appear, has no fixed pattern, the experience to deal with, want to rely on decision makers to make a new judgment to solve. Also called unconventional decision non programmed decisions. Such as enterprises to open up new sales market, commodity circulation channel adjustment, select new promotions and other unconventional decision.

(4) according to the decision problem is different, divided into under the condition of fully know the decision, risk type decision and decision under the condition of not completely known

1. Under the condition of fully know the decision

It refers to the decision making process, put forward the alternative in the know objective conditions, there is only one result for each, and compare the results and make the optimal choice decisions. Determine the type of decision is the decision of a certain condition. Decision makers on the conditions, the nature of the decision problem, has fully understand the consequences, only one result for each alternative. This kind of decision making is the key to select must state the best solutions.

2. Risk type decision

It refers to such kind of decision. Put forward various alternatives in the decision-making process, each solution has several different results, can know it happen probability can also measure, under the condition of such decisions, is risk type decision. For example, some enterprise in order to increase profits, and put forward two options: one solution is to increase the old product sales; Another solution is to develop new products. No matter which kind of solution will meet the market demand is high, the market demand and market demand generally low several different possibilities, they happen probability can be measured, if meet the market demand is low, enterprises will be losses. Thus under the condition of the decision, with a certain risk, so it is called the risk type decision. Risk type decision, because various market factors affecting prediction target is complex and changeable, the execution results of each scheme therefore have great randomness. Decisions, no matter choose what kind of solution, there is a certain risk.

3. Under the condition of not completely know the decision

It refers to such kind of decision making, puts forward various alternatives in the decision-making process, and each scheme has different result can know, but the probability of each outcome cannot know. In such conditions, the decision is not to determine the type of decision making. The difference between it and risk type decision: risk type decision, each package of several possible outcomes and their probabilities knows, undetermined type decision only know that every solution of several possible results, but the probability is not know. This type of decision is due to several possible objective state of the market demand of random rule understanding insufficiency, it increases the degree of uncertainty decision-making


Decision analysis techniques

Different types of information needed for different decision and way of analyse it. On the basis of perceptions of the problem and the options available, the decision maker asseses the expected outcomes and the choice of actions is dependent on evaluations in terms of personal objectives. The decision making process is an amalgam of both rational and sociopsychological factors. It is an approach that allows a decision maker to carry out a through and logical evaluation of alternative strategies in order to determine systematically the "best" available strategy in terms of an objective criterion. Accrording to the author this approach is sometimes called prescriptive analysis, whereas the analysis of the socio-psychological factors is called descriptive or behavioural analysis.

Simon's (1959) concept of bounded rationality is a useful meand to think about decision making ans to an extension to bounded rationality. This framework view rarionality as unbounded and bounded. Unbounded rationality involves models that optimize based on Bayesian approaches, while bounded rationality involves models that relect real life decisionss. Recent studies on human judgement and choices have shown that the prescriptive models are unable to acount for how prople actually make decisions. As most people violate the prescriptive principles because decision making is behavioural in nature.


April 18, 2013

RMD

I think Decision making happen every second in our life, things like when I go to bed, what I want to eat. These happen automatically without going through the decision process, when it became a common course it become part of our life. But this does not mean it is the right decision, as decision makers always trying to find the easiest way to solve the problems, it might be we just don't have time and the energy to find better alternatives. Decision-making should aim to solve a particular problem, or to achieve certain goals. Determine the target is the first step in the decision making process.

There are many definitions about "decision making", to sum up, there are three basic understanding:

  • Set a decision making as question, a process of selecting the scheme, design and to set goals.
  • Consider decisions from several alternative plans to make a final decision.
  • To assume that a decision is uncertain conditions in the event of contingencies, unprecedented event, not rule to follow, make a choice with some risks.

February 28, 2013

New Product Development

If the firm uses a separate NPD department then there exists a potential problem of lack of "ownership" of a new product when it is eventually handed over to the existing product management. The recipients may feel a lack of enthusiasm for the product when, as they see it, all the interesting decisions concerning its development have already been taken. It is because of the difficulties inherent in these two approaches that firms often turn to a multi-disciplinary approach such as the new products committee or venture team.


People show less interest in DFSS

Although DFSS seems to be a very powerful tool but in reality not many company has consider to implement, existing company would rather improving their on-going project. DFSS is totally different to Six Sigma, a number of researcher has found if only use Six Sigma is unable to achieve 6 Sigma, but with combination of DFSS may able to reach 6 Sigma or even higher.

Six Sigma is commonly adopted in the production process in Europe, but country such as China shows minimum interest. There a limitations with Six Sigma process, which cannot be achieved in China. DFSS able to support development from the beginning and provide outcome that meet customers?? exact requirement. I think DFSS not only able to help achieving excellence outcome but also create a better management system, because it integrated a number management concept. Although we may not able to implement a Six Sigma project, learning Six Sigma and DFSS could inspire our way of doing things.


February 26, 2013

Decision making

  • Decision making process Define and clarify the issue - does it warrant action? If so, now? Is the matter urgent, important or both. See the Pareto Principle.
  • Gather all the facts and understand their causes.
  • Think about or brainstorm possible options and solutions. (See brainstorming process)
  • Consider and compare the pros and cons of each option - consult if necessary - it probably will be.
  • Select the best option - avoid vagueness or 'foot in both camps' compromise.
  • Explain your decision to those involved and affected, and follow up to ensure proper and effective implementation.

Problem solving and decision-making are important skills for business and life. Problem-solving often involves decision-making, and decision-making is especially important for management and leadership. There are processes and techniques to improve decision-making and the quality of decisions. Decision-making is more natural to certain personalities, so these people should focus more on improving the quality of their decisions. People that are less natural decision-makers are often able to make quality assessments, but then need to be more decisive in acting upon the assessments made. Problem-solving and decision-making are closely linked, and each requires creativity in identifying and developing options, for which the brainstorming technique is particularly useful. See also the free SWOT analysis template and examples, and PEST analysis template, which help decision-making and problem-solving. SWOT analysis helps assess the strength of a company, a business proposition or idea; PEST analysis helps to assess the potential and suitability of a market. Good decision-making requires a mixture of skills: creative development and identification of options, clarity of judgement, firmness of decision, and effective implementation. For group problem-solving and decision-making, or when a consensus is required, workshops help, within which you can incorporate these tools and process as appropriate. Here are some useful methods for effective decision-making and problem-solving: First a simple step-by-step process for effective decision-making and problem-solving. See also the decision-making facilitative questions template. And definitely see the ethical decision-making quick guide.


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