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NEW PEOPLE MANAGEMENT
IN THE KNOWLEDGE ECONOMY
INTRODUCTION:
 I am therefore I think…
If thought generates knowledge, then the vision of tomorrow’s corporation is clear. Knowledge isnothing but a combination of know how, know what and know why, as consciously incorporated in people – the only beings capable of producing and processing it. Today, knowledge is gainingmore and more importance. Thus, it becomes imperative for any organisation to realise the valueof knowledge and leverage it to maximise it’s potential.
KNOWLEDGE WORKERS:
The massed ranks of knowledge workers are increasing at a fast pace. In just about everydeveloped economy - and some undeveloped ones -- knowledge workers now make up the fastestgrowing employment group.
 Basically anyone who makes a living out of creating, manipulating or disseminating knowledge is a knowledge worker.
Of course this definition covers a very widerange of activities. Teachers, trainers, university professors and other academics are clearlyincluded. Writers, journalists, authors, editors and public relations or communications people canall be categorised as knowledge workers. Throughout the developed world knowledge workersalready outnumber industrial workers and agricultural workers. In more advanced countries theyoutnumber these two groups added together.
IMPORTANCE OF PEOPLE:
Thus we realize that in the knowledge economy, people are crucial because:1] People are the exclusive source of knowledge for any organisation.2] Individual knowledge is the starting point for organisational knowledge.3] The knowledge pool of a person cannot be duplicated.4] Only people can spread knowledge resources across the company.5] Only people can convert knowledge and wisdom into action.Human beings have immense potential energy and self-motivated human beings can tap itto produce extraordinary results even with normal material resources. A manager must develop ahealthy relationship with his staff to create a sense of belonging and a family feeling, so that theemployees can put their heart and soul into their work. There must be a feeling that employees andmanagers share the same fate. NEW PEOPLE ECONOMY:An economy where fundamental changes have taken place in every branch of society andorganisations with knowledge emerging as the one competitive source i.e. people.
 
 NEW PEOPLE ORGANISATION:To benefit from it’s people’s knowledge, a company must become a learning organisationi.e. an organisation that expands knowledge continuously. NEW PEOPLE MANAGEMENT:To leverage it’s people, the corporation must integrate human resource management intoit’s business strategies. The individual and organisational goals have to be united so that theemployees put in their best for the organisation. 
KNOWLEDGE - THE COMPETITIVE EDGE:
A company can hope to get an edge over its rivals in the global market due to itsknowledge workers. This is because knowledge workers provide 3 abilities:1] Innovation in the market2] Originality of service3] Deep understanding of customer needs which market surveys yield.The real value addition is knowledge. Thus knowledge workers provide competitive edge othe company, more so due to the relative scarcity of knowledge workers.1] PRODUCTS = PEOPLECompanies that compete on the strength of its products have to use people as the source for winning concepts. Product improvements are also dependant on people especially when it comesto breakthrough products. Such innovations are possible only when there is intensive, plannedhuman efforts to scrutinise the ideas – many of them originating in people related activities such aslaboratory. Indeed, the development of a successful product depends on using knowledge as thecore competence of the corporation.2] MANUFACTURING = PEOPLEThe more hi tech the shop floor, the more crucial is the role of people in manufacturing.This is because as people reduce on the shop floor, the machinery to carry out their work becomesmore and more complex, needed to be operated by a few workers. Yet these workers play a crucialrole, since these machines cannot be operated by simple commands as in the past. Operators needto have thorough knowledge about the machinery such that each is a vital resource difficult to bereplaced by another.3] MARKETING = PEOPLETo convert people from wandering experimenters to loyalists, companies are forced toimprove the quality of their interactions with them. New forms of interfacing with the customer aredeveloped. This requires in-depth knowledge about customers. Also. More and more people refuseto be swayed by brand name alone. It is the service component, which makes the difference. This
 
can be provided only by people. Thus, people with knowledge and skills are now becoming principal instruments to offer delight to the customers.4] MANAGEMENT TECHNIQUES = PEOPLERight people constitute the fundamental strength of any organisation. Even new processesdemand necessary talents. Companies are realising that their core abilities lie not in particular  product, but in their unique expertise. New processes need to be managed by people with the rightskills. Tools such as BPR or TQM can succeed only if people’s mindsets are changed. Hence, nowcompanies are using their people in self-managing teams n the shop floors and cubicles to solve problems and meet targets.5] ORGANISATION STRUCTURE = PEOPLE New organisation forms depend on people to for their success. The burden of performanceis not on rigid systems, but on the resourcefulness, initiative, and responsibility of the processowners. People spread knowledge throughout the organisation. Flatter structures are thus preferredover traditional vertical hierarchies, to facilitate the flow of information. Every action taken isoriented towards the customer.
THE AGE OF THE KNOWLEDGE CAPITAL:
Comparative advantage lays no more in the location of natural resources. It is now manmade. Any industry or country having brain power i.e. knowledge assets can compete in the globalmarkets. This knowledge capital is not owed by the shareholders, but by the core workers of thecompany. It is the assets who themselves own the assets. They have much greater power in thecompany management under the new people management of the 21
st
century.
LEARNING ORGANISATIONS:
The importance of learning was first put forward by a Chinese philosopher, Confucius"Without learning, the wise become foolish; by learning, the foolish become wise." "Learn as if you could never have enough of learning, as if you might miss something."The underlying cause for recent emphasis on organisational learning is because of theincreased pace of change. Classically, work has been thought of as being conservative and difficultto change. Learning was something divorced from work and innovation was seen as the necessary but disruptive way to change. Change is now measured in terms of months not years as it was inthe past. This means that organisations need to be aware of both the company as a whole as well asthe individuals within the company. If the changeover to a Learning Organisation happensovernight, the environment around the workers will be complex and dynamic. There will beagitations and confusion, which means learning, may not take place because of the chaos caused.
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