Impact of Knowledge Economy - NHRD series

Through Conflicts to Next level

Ramesh Vemuganti

CEO, Chanakya Consulting

Formal education will make you a living; Self-education will make you a fortune.

Jim Rohn Attending Guest lectures, Seminars, Workshops, Training

programs, Learning from Colleagues, Boss, Professionals, Friends, Alumni, Google search, You Tube,,,,,,

is all about Self Education.

Of central importance is the changing nature of Competitive Advantage - not based on market position, size and power as in times past, but on the incorporation of knowledge into all of an organization's activities.

Leif Edvinsson, Swedish Intellectual Capital guru in Corporate Longitude.

As we enter the 21st century:Innovators & Visionaries will replace Predators &

Intimidators. Independence will be replaced by Inter dependence.Dramatic shift of World economic power from USA, Japan &

Europe towards emerging markets – BRICS, Taiwan , Turkey, Indonesia – Fastest Growing Economies

Turkey – Arcelik of Turkey – 10% European Appliance market.HTC, Taiwan – major Smart phone maker .Haeir, China – 5% of white goods market globallyIndian MNC”s – making waves in Europe, USA, Africa,

Australia, China, S E Asia,,,

What is today’s Economy

Knowledge economy – based on Knowledge in the form of Products & Services.

People with more domain Knowledge are in demand in orgns. We deal with Knowledge, everywhere.

Earlier, Traditional economy – based on Physical Goods & Services

Why this massive thrust on Knowledge?

We have graduated from : Agricultural age Industrial Age Information Age Knowledge economyTechnology revolution. What happened in 1970 :

Intel invented Microprocessor

This changed the World.Megabytes & Hexabytes of Data was generated by

Computers in Offices, Universities, Labs, R & D centres, Govt Depts.

IOD to TOI to QOK to BOT to MOI Data – Information – Knowledge – Technology –

Innovations – Link.

DIKTI Link : Primarily Responsible 1970 to 2013 Daily Bread - 4 to 20Small Cars - 3 to 200 models TV Channels - 2 to 160 plus Mobiles - 6 to 200 models Smart HomesConsumer goods, White Goods, Education, Machinery, Corporate Hospitals, Retail, Banking, Fitness centers, Plethora of choices -

Rapid Pace of ChangeTatas 50 yearsInfosys 15 yearsHaldirams 10 yearsSwagruha Foods 10 yearsYahoo 5 yearsGoogle 3 yearsFacebook 1 yearAnna hazare 6 monthsKolavari Di 4 months

The World todayKnowledge societyKnowledge economyInformation societyInformation ageTechnology revolutionDigital age/ economyNext Gen : 20”s & 30”s - Speed, Innovation, Restless,

Competitive, Conversation, Informal Technology driven, less Emotional,,,,,,,,,,,,,,,

How Info Age has Impacted Organizations Structure, Systems, Processes, Tools.Strategy – Technology Strategy & Business StrategyFunctional areas – Mktg, Fin, HRM, Prod, Operations,

Logistics, R & D, others.Technology Forecasting, Technology transfer, Technology

diffusion.Evolution of Knowledge Mgt & Innovation MgtEmployee behavior

New thoughts for

HR Professionals :

Resolving Conflicts & Others aspects.

Verify & Cross check Perception about an Employee – based on authentic & valid data & information

Reward Outstanding Failures which propels them to Succeed in next assignment/ project/ task.

More Empathy, less of Sympathy

Learners are Winners To be successful in a Knowledge

economy, firms must create learning organizations. Don Tapscott.

L & D replacing T & D. – Learning is 24 x 7 with several changes happening too frequently.

- Systems, Technology, Process, People, Markets, Platforms, Industries, Sectors,

Conduct a workshop on “ Why Inter Dependence” . It is a prerequisite.

Shun Arrogance & Emotional outbursts. Develop this trait in new recruits & employees

DIKTI has a major role in affecting the above mentioned.

Job descriptions are becoming less importantChanging nature of jobs, tasks, assignments, projects. Quantitative methods, tools, Analytics, Data Mining,

Research Methodology are critical today.Integration of domains, fields & expertise.Understanding of Maths, Statistics, Graphs is a must for

every professional

Continuous effort - not Strength or Intelligence – is the key to unlocking our potential.

Sir Winston Churchill .

The ability to quickly process & synthesize information & turn it into actions is one of the most emergent skills of Professional world today.

Eg : Handling mails.More thinking ---- To Do listFor Reference ---- Take PrintoutA meeting ---- Move to CalendarMessage/ Information ---- Just read. Respond accordingly

Work on Top Mgt

Several CEO”s are changing or shifting jobs. Make Top Mgt realize the need & significance of L & D Decisions based on Perceptions are detrimental to the

organizationPresent Valid & Authentic data for quality decisions.Check the Influence by Senior managersPersonal Judgment is pivotal

Love is Blind but Marriage is an eye opener.

Technology – All pervading in OrgnsTechnology is Not Information technology alone.Primitive man to steam engine to automobile to aero

plane to computer to satellite to Internet to Face book – Technology or millions of technologies.

Organized knowledge is Science- Newton’s lawApplication of Knowledge is Technology

Do ETM - Effective Technology Mgt

USA – Competitive advantage with ETM , Japan, Singapore, Korea,

Today India, China, Emerging economies.Forecast apt technologies for the organizationAcquiring, Transferring, Absorbing, Implementing technologies

results in Technology Diffusion.Objective of Effective Tech Mgt is Technology Diffusion.Good Technology Planning to proper technology

implementation are the stages of ETM - Effective Technology Mgt

Enable Internal Technology TransferUSA & Canada to S America – Big brother syndromeTechnology Transfer : is a process by which Information,

Knowledge or Technology is transferred from one individual, organization or nation to another Individual, orgn or nation either for same or intended purpose.eg : Teaching, JV, Seminar, Consortium, Collaborative Res,others

Information is the blood of business - Lack of flow among people & depts within an organization affects the business & makes it uncompetitive.

Managers & Sr Managers are not talking to each other - Unhealthy . Blocks Technology transfer.

The only people who find what they want in life are the fault finders - Folstein Law

Make it comfortable for employees to pass on the information, share their knowledge & technology with colleagues.

Technical skills can be taught - Software skill sets, Soldering, Machine ops, etc.

Understanding the Young gen – age 22 to 35. People skills are not easy to impart.

Spend more time in developing PeopleAdopt 6 Q” – LQ, EQ, IQ, NQ, SQ, HQ.

Rising expectations of developing nations & consumers make it mandatory that we never rest on our past laurels or take success for granted.

Winners edge by Denis Waitley.

Moving ahead of othersDo not wait to strike till the iron is hot. Make it hot by

striking – William B Sprage.A person who is continuously updating information,

seeking knowledge, absorbing technologies , sharing with others - will be ahead of his peers & contemporaries in any field of Endeavour .

Be like a sponge – tap Information, Knowledge, Technologies, & Innovations , everywhere.

Keep striking.

Writing on the wallManagers, Faculty, Entrepreneurs & Professionals

must

expand the vision ,understand the DIKTI Link,

increase the knowledge base&

lead from the heartto ensure Conflicts results in progress & push the

organization to Next Level.

Regardless of who you are or what you have been, you can be what you want to be

W. Clement Stone