Knowledge Management Systems (KMS) like any other information systems have its benefits as well as costs, weighing the benefits in relationship with the costs will probably provide a basis for deciding whether to invest in it or not. Costs of Knowledge Management Systems Although knowledge management system is beneficial and important to the organisation, it also involves some cost. These costs vary quite a bit, depending on the size of the organisation, the current level of infrastructure and the scope of knowledge management initiative. Also, the cost depends on whether or not there is an existing infrastructure. The first step in determining the return on investment for a knowledge management project is to deter mine the costs. On the surface, this may seem deceptively simple, but there are costs involved in a knowledge management project that may not be readily obvious to the manager who is not experienced in estimating Continue reading
Management Articles
Strategy Evaluation allows an Organization to take a Proactive Stance towards Shaping its own Future
In this modern era of 21st Century, it is really hard to imagine any result-orientated or business-orientated organizations to remain in static-quo. Usually those organizations are easily prompted to influences or changes from external environment elements. Based on PESTEL analysis, those external environment elements shall include political environment; economical environment; social environment; technological environment; environmental environment & legal environment. However, the impacts of each environment elements differ from time to time and in order to ensure the sustainability of an organization, it is important for an organization to constantly review their objectives and goals from time to time. Organization constitutes of a group of structured and organized people and with a specific purpose or goal to achieve in mind for the entity. Due to that, strategy plays a very important part in determine the success or failure of an organization. Carl Von Clausewitz once said, “Tactic is the art of Continue reading
Article on Indian Stock Market Scam: “The Ketan Parekh scam was an example of the inherently weak financial, regulatory and legal set up in India.”
Ketan Parekh is a Mumbai based share and stock broker. He is from a well to do share-brokerage based family. He was involved in the shares scam of the year 2000/01. The study by SEBI found that the flow of funds originating from Ketan Parekh, when paired with securities market transactions of connected clients leads to the possibility that these trades were executed to confuse the funds trail and to integrate the money originating from the banned stock broker into the system of banking. Ketan’s possible involvement was found by SEBI during its investigation into professed manipulative trading in the scripts of Cals Refineries Limited, Confidence Petroleum India Limited, Bang Overseas Limited, Shree Precoated Steels Limited and Temptation Foods Limited. Earlier, SEBI had Ketan and 17 other entities from participating in the market following a study into purchase sale and dealing in the shares of companies like HFCL, Zee Telefilms, Continue reading
Value Architecture – Snapshot of the Company’s Business Model
For an entrepreneur is very important organize his key operational activities to make fundamental business decisions with respect to ‘focus’ — the strategic relevance and prioritization of these activities to achieve a developmental milestone; ‘locus’ — where you should geographically conduct these activities; and ‘modus’ — the way in which these different activities are executed. At the business model level, the focus, locus, and modus of the entrepreneur’s activities represent the company’s output, so represents the unique way in which a business executes its strategy to the market. Focus: Focus decisions are related to the strategic importance and allocation of a company’s resources to business activities, like where to invest additional resources or disinvest resources. The entrepreneur has to focus his attention on what business activities demand priority, resources, and attention. The key decision process here is to prioritize which activities to focus on during a specific stage of growth Continue reading
Differences Between Profit and Non Profit Organizations
A profit organization is a social arrangement which pursues collective goals, controls its own performance, and has a boundary separating it from its environment. Profit organization is a business which has a primary goal of making profit and a proposed goal such as helping the environment. An organization is defined by the elements that are part of it its communication, its autonomy, and its rules of action compared to outside events. A non profit organization is a group organized for purposes other than generating profit and in which no part of the organization’s income is distributed to its members, directors, or officers. Non profit corporations are often termed “non-stock corporations.” They can take the form of a corporation, an individual enterprise (for example, individual charitable contributions), unincorporated association, partnership, foundation (distinguished by its endowment by a founder, it takes the form of a trusteeship), or condominium (joint ownership of common Continue reading
Nurturing Innovation in Teams
Innovation in teams can be defined as the act of starting something new for the first time, something that has not yet been done by the team. The creation may rise from a study or experiment. Innovation could be termed as the brain child of creativity of the team members. Proper motivation is needed so as to be able to foster proper innovation in the team. The team must have a clear guideline and understanding of what innovation is and what it entails. Benefits of Innovation in Teams Nurturing innovation in a team also has great benefits on not only the team members but also to the organization as a whole. This includes: The organization benefits greatly by being the first organization to take a product or service to the market before any of their competitors. Innovation gives the organization an edge over its competition. By being the first organization Continue reading