September 26th, 2007 15:02 PM By Staff
Knowledge management is certainly one of the rather under estimated aspects of business management. In its most basic forms, knowledge management refers to any practice which involves the creation, maintenance and distribution of knowledge to a particular set of personnel. Essentially knowledge management is the designated discipline to aid in educating as well as maintaining employees’ ability to conduct their respective duties to the greatest possible effectiveness and efficiency.
Nevertheless, it is important to examine the impact of knowledge management on particular sub divisions of a given organization. Sales and marketing are both some of the most fundamental aspects of a successful venture; and both can be positively impacted if knowledge management is conducted properly.
It is safe to suggest that employees of any given organization are the most important asset. Hence it is not farfetched to suggest that the resources devoted to educate and maintain the existing knowledge of employees can and will be of great deal of benefit to any for profit organization. It is not difficult to imagine or even suggest that knowledgeable and informed employees maybe more effective in their daily duties. Similarly the same concept would apply to sales force and marketing divisions; the more knowledgeable those employees the more likely they will be able to introduce and explain product and services which may in turn result in more sales.
Naturally there has to be a distinction between task specific knowledge and general industry knowledge. In terms of jobs specific knowledge, it is rather obvious that any given individual should be proficient. Yet further education will be only of benefit. On the other hand, general industry knowledge may also enable the given individual to draw comparisons which may be also of benefit.
Ultimately knowledge management and knowledge management systems are simply another vital tool to enhance the ability of the most significant and vital asset of any given organization; namely its human capital. It is futile to dismiss the value of information, knowledge as well as education in terms of their benefit to individual and organizational well being, effectiveness, efficiency as well as profitability.
In the coming days and weeks we will go into the details of knowldge management.
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September 20th, 2007 08:44 AM By Staff
Minority Business Ownership
A while back we posted an entry talking about the low ratio of government contracts for minority owned businesses. In that particular post, we emphasized that there is a greater burden on minority business owners to compete on government contracts.
In this particular opinion piece we will examine the value of equal opportunity for small business owners, society and economy. The most significant aspect in equal opportunity for minority business owner is philosophical. The concepts of melting pot, American dream, and give us your poor are certainly the basis for seeking equal opportunity.
However, there is a bit more to it. The mere fact that the American society is composed of such a diverse set of population, it begs the question as to why there shouldn’t be a proportionate representation of minority owned businesses in government contracts. It is certainly logical and rational to assume that in a society with equality in all aspects of lives, the governmental contracts would not be an exception.
Similarly, considering many different sources, it is save to state that minority business owners contribute proportionately equally to the economy as their counter parts. The impact of such equality in overall contribution to the economy is more enhanced by the fact that minority business owners also equally contribute to overall societal well being not only by their financial contributions but also with other actions including creating jobs and stimulating their respective local communities.
Nevertheless, there is certainly enough blame to go around. One of the rather significant reasons is certainly within legislative branch. The respective Congress members have not made any recent great effort to promote the interest of minority business owners. Similarly the minority business owners have certainly not exhausted their options either. The mere fact that minority business associations and trade groups have not circled the wagons to establish a powerful lobby begs the question and commitment of participating and influencing local, state or federal policies.
In the coming days and months, we will continue to post our opinion about this topic and ad potential plans to rectify the under representation of minority business owners in government contracts.
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September 13th, 2007 09:52 AM By Staff
In the age of internet, personal computers and wide availability of internet service providers, consumers have seen a drastic change in their relationships with suppliers. The use of World Wide Web which enables the direct connection of consumer to suppliers has certainly created a more effective method of eliminating the middle man as well as enabling the consumer to have a greater access to the ever growing list of service and goods providers.
Essentially, the World Wide Web has been more of an enabling tool in shoppers capabilities. It has enabled consumers to access a wide selection of suppliers, their reputation, prices as well as create an environment which comparison shopping has become substantially easier. Nevertheless the fundamentals have not changed.
One of the rather simple examples of the influence of internet on consumer and supplier relationship is a 3 year old study which shows that car shopping in particular has been negatively affected for particular segment of the society.
The consumer and supplier relationship is still a symbiotic in which both parties rely on each other’s ability to satisfy their respective needs. Consumers need suppliers to satisfy their wants in terms of necessary products and services; suppliers need consumers to produce profits. The role of the World Wide Web, though not saddle, has not changed those fundamentals.
Ultimately, both parties; shoppers and suppliers have used and are using the World Wide Web as an additional tool to ease the process; a means to an end. Nevertheless the impact of World Wide Web can be felt in the micro aspects of that symbiotic relationship which has seen advantages as well as disadvantages.
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