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Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
Retooling managerial functions
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Retooling managerial functions

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  • 1. Overcoming Managerial Challenges in the Knowledge Economy Ramesh Vemuganti, B.Tech, MBA
  • 2. Outline of the talk
    • A. Bird’s eye view of Knowledge Economy
    • B. Texture and Challenges of Knowledge Economy
    • C. Overcoming Managerial challenges in Knowledge Economy
  • 3.
    • Learning is what Adults do for a Living in the 21 st century .
    • Perchman
  • 4. A. Information Society and Knowledge Economy -- An overview
  • 5. Inundation of Data Information Age and Information Society Knowledge Economy Technology Revolution
  • 6.
    • 1970-2000
    • Quantum of Knowledge which came into the world in last 30 years is millions of times of what was generated in previous 5000 years
    • 2000 to 2007
    • Millions of times prior to that
    • 2007 to 2008
    • Millions of times of earlier period
    • The Exponential increase in Information , Knowledge and Technologies is one of the key factors behind the Uncertainty and Chaos confronting Individuals , Organizations and Countries
    • TODAY
  • 7.
    • An information society is a society in which the creation, distribution, diffusion, use, and manipulation of information is a significant economic, political, and cultural activity.
  • 8.
    • The knowledge economy is its economic counterpart whereby wealth is created through the economic exploitation of understanding
  • 9.
    • Information society is seen as the successor to industrial society .
    • Closely related concepts
    • Knowledge society Telematic Society,
    • Information Revolution
    • Networked society
  • 10.
    • A knowledge society needs infrastructure like
    • Physical: meeting places, notice boards ...
    • Technological: local language content sharing, mailing lists, web portals, wikis, chat rooms, video conferencing, virtual meetings, collaborative development environments, distance education ...
  • 11.
    • Present Knowledge Society differs from earlier Knowledge Society in :
    • What is new is that
    • Geographic proximity not a constraint
    • Much more possibilities for sharing, archiving and retrieving knowledge
    • Knowledge has become the most important capital in the present age, and hence the success of any society lies in harnessing and exploiting it
    • All enabled by Technology and Technology Management
  • 12.
    • The difference between a job and a career is the difference between forty and sixty hours a week- Robert Frost
  • 13. B. Knowledge Economy -- Texture and Challenges
  • 14. Economy-Wide Characteristics: Behavior of Markets Stable Dynamic Nature & Range of Competition National Global Organization Structure Hierarchical, Bureaucratic Networked
  • 15. Staff & Workers Company Policy Full Employment Higher Real Wages and Incomes Desirable Skills Job-Specific Skills Broad Skills and Cross-Training Requisite Education A Skill or Degree Lifelong Learning Labor-Management Relations Adversarial Collaborative Nature of Employment Stable Marked by Risk and Opportunity
  • 16. Regulatory Authorities Business-Government Relations Impose Requirements Encourage Growth Opportunities Regulation Command and Control Market Tools, Flexibility, Cooperation
  • 17. Industry Factory Production Mass Production Flexible Production Key Drivers of Growth Capital/Labor Innovation/Knowledge Key Technology Driver Mechanization Digitization-PC, internet, web, software, tools Source of Competitive Advantage Lowering Cost Through Economies of Scale Innovation, Quality, Time-To-Market, and Cost Significance of Research and Innovation Low-Moderate High Relations With Other Firms Independent Alliances And Collaboration
  • 18. As a general rule the most successful man in life is the man who has the best Information - Benjamin Disraeli
  • 19.
    • Digitization :
    • It that magic process by which words , data , music , films , files , and pictures are turned into bits and bytes -- -- --
    • that can be manipulated on a Computer screen , stored on a Microprocessor , or transmitted over satellites or fiber optic lines .
    • “ The World is Flat “ by Thomas L Friedman
  • 20.
    • In the Knowledge economy , there is not necessarily a correlation between Formal Education and Success.
  • 21. Knowledge Revolution
    • The ability to Create, Access and Apply Knowledge is thus becoming a fundamental determinant of Global Competitiveness
    • Intensified globalization and competition have all characterized the “Knowledge Revolution
  • 22. World GDP/capita and Population – Role of Knowledge ©Knowledge for Development, WBI
  • 23. Characteristics of a Globalized Knowledge Economy
    • Rapid and continuous change : Technology , Markets , Competition
    • Function of Global trading agreements
    • Knowledge of international trade.
    • Quality as important as Price
    • Sudden Organizational changes
    • Short job tenures
    • Fundamentals of macro stability, openness, competition, good governance
    • Emergence of the Global Indian
  • 24.  
  • 25.
    • “ Even if you’re on the right track, you’ll get run over if you just sit there.” Will Rogers
    • “ For fast acting relief, try s-l-o-w-i-n-g d-o-w-n.” Lily Tomlin
    • “ He who laughs, lasts.” Mary Poole
  • 26. Key Competencies in KE have Multiple Dimensions
    • Complexity and uncertainty of modern life requires People
    • to apply
    • more than one type of competency to tackle tasks and issues that they face.
    • Multi Dimensional and Multi tasking skills
    • Cognitive, motivational, ethical, and social components and they are interrelated.
    • .
  • 27. Source: Shapiro et al., 1998
  • 28. Workplace Competencies: The World Bank view
    • In the United Kingdom, employers reported that
    • Communication skills
    • Learning ability,
    • Problem-solving skills,
    • Team work
    • and the
    • Capacity for Self-Management
    • were more important than
    • Technical,
    • ICT
    • Numeracy skills
    • as criteria in the recruitment of graduates .
  • 29. Learning in Knowledge Economy
    • Then
    • Information based
    • Rote learning
    • All learners do same thing
    • Teacher directed
    • Just in case
    • Formal education only
    • Directive based
    • Learn at a given age
    • Test given to prevent progress
    • Terminal education
    • Now
    • Knowledge creation/application
    • Analysis and synthesis
    • Individual learning plans
    • Collaborative learning
    • Just in time
    • Variety of learning modes
    • Initiative based
    • Incentives, motivation to learn
    • Assessments are given to guide learning
    • Lifelong learning
  • 30. Workers with Better Literacy Skills Receive More Training Source: IALS 2000. Note: Data refer to employed persons aged 26-65 years. Training refers to employer-sponsored VET.
  • 31.
    • The world is full of willing people. Some willing to work and the rest to let them.
    • Robert Frost.
  • 32. The Opportunity
    • Knowledge hoarding impossible
      • disintermediation of channels
    • Economic viability of knowledge power
      • ICT revolution
      • Internet
      • Venture Capital
    • Knowledge power dictating immigration rules
    • Virtual communities will become more powerful than national boundaries
  • 33. The Opportunity
    • Tremendous churn creates opportunities for newcomers
    • The American example
      • 90% of American companies have < 50 employees
      • 50% of US exports by companies with < 20 employees
    • GKP will replace GDP
      • Geography is history
  • 34. Case Study - India
    • Software industry :
      • USD 100 mill to USD 70 bill. in 20 years
      • 2 nd . largest provider of IT / ITES services globally
    • 7% of GDP, 30% of exports, 4 million jobs
    • Provided framework for growth of other knowledge industries
      • R&D, Engineering, BPO, Biotech , Media & Entertainment , Animation ,
      • World leader in quality and processes
      • Benefits just beginning to flow directly to Indian industry / government
  • 35. The Lessons
    • Excellence in industrial age was not prerequisite for success in knowledge age
    • Success in one part of knowledge economy drove development and success in other parts
    • Creating right environment for a new industry was easier than dismantling / rebuilding for existing industries.
  • 36. C. How can a Manager overcome the Challenges of Knowledge Economy
  • 37.
    • When Love ad Skill work together , expect a Masterpiece - John Ruskin
  • 38.
    • Interdependence , not Independence!!
  • 39. 80 : 20 principle
    • &quot;80 percent of output is produced by 20 percent of input.&quot;
    • &quot;80 percent of outcomes are from 20 percent of causes&quot;
  • 40. 80 : 20 principle contd..
    • 80 percent of the difficulty in achieving something lies in 20 percent of the challenge.
    • 80 percent of revenue comes from 20 percent of customers
  • 41. 80 20 principle contd..
    • 80 percent of complaints come from 20 percent of customers
    • 80 percent of Sales will come from 20 percent of Sales people
    • 80 percent of your time spent on this website will be spent on 20 percent of this website
  • 42. Do Effective Technology Mgt :
    • Technology Forecasting
    • Acquisition
    • Transfer
    • Absorption
    • Diffusion
    • Implementation
    • USA , Singapore , Japan , Taiwan became advanced economies thru Effective Management of Technology
    • India , China , Russia and Brazil are on the same path.
  • 43. 4. If you are not on the table , you are on the menu :
    • Seize opportunities to be on the committee for Administration, HR, Cultural, Social gatherings, Games, Fitness/Health related activities!
    • Get noticed at work, Be in the limelight!
    • Publicize your achievements!
    • Use technology tools!
  • 44.
    • Committee keeps minutes , wastes hours.
    • Mostly by design , in organizations.
    • Take it in the stride.
  • 45. 5. Build committed teams
    • HANDLING KNOWLEDGE WORKERS
    • EQ AND SQ MORE IMPORTANT THAN IQ.
    • Charging team members
    • Clear job description , expectations , monitoring ,
    • guiding , empowering , not fearing effective staff members.prompt appraisals
    • Keeping up commitments , backing up subordinates
    • Lead by example
    • Ownership for slips/mistakes of subordinates/colleagues
    • LISTEN TO SUBORDINATES , LISTEN , LISTEN.
  • 46. 6. Communicate, Communicate , Communicate!! with Bosses, Colleagues Subordinates
    • Thru Technology
    • Email and SMS are the best tolls for communicating with anyone , for avoiding personal interaction
    • Change of assignment , boss , task , dept , division
    • Clarity of Expression in resolving conflicts
    • Never answer a mail or letter while you are angry.
  • 47. 7. Networking : Technique for Survival .
    • Colleagues in other divisions , branches , regional offices.
    • Ex- colleagues is a must ; ex : Indotronix , ARKSN Sharma job.
    • Friends
    • Classmates , Batchmates , Acquaintances , Yahoo groups , Blogs , Rediff letters , mailers , opinions
    • Professional bodies / Associations
    • If one is not Online , he could be out of line
    • Hectic jobs not an excuse. Can manage.
    • These are the days of Connecting people , not Correcting people!
  • 48.
    • Situational Management
    • Daily Plan , Constant changes , Go by priority .
    • Do not think logic , most of the times , answers will not be there.
    • KEEP MOVING
    • DO WHAT THE ORGANIZATION WANTS
    • AND EXPECTED OF YOU. NOT YOUR LOGIC , IQ OR PRIORITIES.
  • 49. 8. Undercommit and Overperform :
    • Do not yield to pressures
    • Earlier: Sales , HR , Production , R & D , IT
    • Purchase , other Managers.
    • NOW: Directors of Institutions Consultants
    • Government officers . Bureaucrats, CEO, MD, HOD, NGO, Charity, Spirituality
    • Update yourself on how to manage your boss!!
    • . Nothing motivates a man more than to see his boss putting in an honest day's work.
  • 50. 9. Develop an Innovative nature
    • Think out of the Box , right brain thinking
    • Talk to the wrong person – Finance for Sales , Purchase for HR
    • Provide/Receive unbiased suggestions & advise
    • Every Job , even in Finance, Admin,
    • Outsourcing services
  • 51. 10. Listen to the Customer.
    • Package the solution accordingly
    • Tailor made Solutions to Customer e.g PSI data systems & Wipro, B’glore
    • IT , Biotech, Pharma, Entertainment
    • started this practice
    • Managers in others to focus –
    • Infrastructure, Retail, Telecom, Insurance, Banking, Media, Animation, Education, Health ca.
  • 52. 11. Indepth Knowledge of Work , domain , field , area , job , profession , business
    • Use Internet and its power to update the knowledge
    • Constant updating of technology, practices, systems, products & concepts
    • Attend training programs
    • Convince your employer for updation
    • Be a student for ever!
  • 53. 12. Intensely involved
    • Always enthusiastic
    • Like your work, job, profession, organization
    • Be interested, Not emotionally attached!!
  • 54. 13. Learn from Past mistakes :
    • Not live in the past nor lean on past
    • Achievements – Sales in new economy is different from earlier, decade ago. So
    • also other functional areas.
  • 55. 14. Be Techno Savvy , but control the Technology Gizmos :
    • Fax, e-mail, voice-mail, pager, in-box, photocopier, meetings, PC , video conferences, conference calls , MIS reports, cell phones -- STOP!
    • Imagine if Shakespeare or Freud or Mozart or Jefferson had all our modern time-saving gizmos.
    • They never would have accomplished anything.&quot;
  • 56.
    • When all else fails, read the instructions.
  • 57. 15. Work Fulfillment and Happiness :
    • Display job satisfaction
    • Have a contented look always.
    • Take charge , Solve all issues , job related
    • Avoid work place criticism- organization, bosses, colleagues, management
  • 58.
    • Vincent Van Gogh :
    • Your profession is not what brings home your paycheck.
    • Your profession is what you were put on earth to do.
    • With such passion and such intensity , that it becomes spiritual in calling.
    • True for Old and Knowledge Economy.
  • 59.
    • OFFICE ARITHMETIC :
    • Smart boss + smart employee = profit Smart boss + dumb employee = production Dumb boss + smart employee = promotion Dumb boss + dumb employee = overtime

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