The Competitive Advantages For A Company Business Essay

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In organization, the manager is the person who will have responsibilities to make decision for every strategy to operate. Data, information will become a knowledge but how to use it is more important. There are some competitive Advantages when the manager can control and use the knowledge.

First, knowledge management helps the managers create the learning and innovation culture for company which help maintain the competitive position. To manage the knowledge inside the company, the manager will create working condition which is the free sharing knowledge environment for employees will improve the knowledge level but it can never take away the knowledge from them. For example: when I worked for the medical equipment company 2 years ago, people here worked in the sharing knowledge environment. People sharing knowledge together, it improves the effectiveness of the job. Besides, it helps company having the friendly working condition and all the job was done fluently.

Second, through KM, the leader of company can meet the opportunities to maximize the benefit for the company. The way the managers catch up the new information and transfer it into his knowledge, so it will help them a lot in making decision timely and exactly about cheaper cost; higher quality at same cost; target a different segment etc. therefore they can challenge with their competitors in the marketplace. For example: when the managers have the information about the market like new policies issuing, the fluctuation of interest rates of exchange rates, the increasing of oil price or real estate, they will have the right decision for the developing strategies of company like the case at the end of 2008, some of the rubber production companies in Viet Nam had the information of raw material increasing, so they analyzed, forecasted and tried to collect as much as possible the raw material of rubber. As a result, the rubber production companies which have knowledge management well gained the big profit in year 2009 about more than 400% and have the bigger advantage in market.

Third, the good knowledge management can create the competitive position for enterprises. With corporations or organizations, the customers play the most strategically important role. To serve the customers well and maintain that relationship, the business should use the knowledge to reduce their cycle time, shorten product development time, and improve customer service. How much data and information about customers that they have will help them to improve the knowledge about the behaviors, culture and the loyalty of their customers to challenge with their competitors in the marketplace.

KM on supporting managers:

Managing the knowledge string will help the manager become a great learners, thinkers and performers. As we can see that, the data and information nowadays are much more than in the past, and they are also easier to contact through the improving of technology like internet, cell phone, television, the fact, books and etc. Learning, thinking and performing from those resources help the managers too much in create the new knowledge. For example: During the working time in Medical company, the manager was very clever. She always learnt form activities around and shared her knowledge to people. Sometimes, when she got troubles, she asked the employees around first, then she found the information on internet, finally she brainstormed to apply it into her business.

KM helps the manager and the business innovating, creating the new ideas and using the potential thinking of organization. From there, the managers can increase the quality of decisions and intellectual activities. By sharing the knowledge and working in team, the new ideas will be formed by the thinking of every individual. When working in team, people will share ideas together. The good ideas will be contributed through the comments from the other people in team. There are many successful coming from the small idea. For example, "Jacob and Susan D'Aniello, 32 and 31 respectively with DoodyCalls corporation, headquarter located at Washington DC, with revenue about 1million per year, their idea came from the cleaning up dogs poop in the yard, part etc." or "Bill Thomas, 53 year old with BioScientific Inc., headquarter located at Phoenix, Arizona, with revenue over 1million per year, their idea came from producing special fertilizer from chicken poop with Guano Plus name".

KM also helps manager gaining more experiences and transforming it into documents which can use when need it to avoid mistakes later time. When the knowledge is saved in document, it will be easier to find and use again. For example, most of Bank in Vietnam, the information of the customers always saves in file and on computer, so when they need every information of customers, they will easily find it.

Managerial skills need:

The quickly developing of technology has effected to the managers nowadays. More and more knowledge transfer between tacit knowledge and explicit knowledge, so that the managers should adapt with the new changing. Therefore they should have some skills need for the new situations to use the knowledge for the organization.

First, in the organization, the ways to transfer knowledge to the employees are very important, so the skill need for the knowledge transferring process is communication skill. In corporation, the managers should contact with their staffs, employees or workers to research and know the knowledge level of their labor force. From that, they use their communication skill to bring the knowledge need to their labor force to improve their knowledge level. For example: in my internship term in ACB bank, I saw that the manager of this branch often went down to the staffs working place to see, talk and understand the working abilities and how their employees work. After that, he decided some staffs to join into training class to improve the knowledge for the job need.

Second, decision making skill is also very important to the manager in KM to lead the organization to survive in the market. It is very clear that every move of business base on the decision of the manager. The effects of knowledge in the business operation are very huge and there are many examples of right or wrong decision all over the world, for instant, in year 2002 Yahoo! had a chance to buy Google for a mere about $5 billion but Yahoo didn't do that so now they lose a chance to buy Google because of the market value of Google about $170billion. In Vietnamese idiom has "a millimeter to a mile wrong", thus the manager should be always smart, careful and determined when making decision.

CONCLUSION:

In recent years, the Management of Knowledge has been one of the concerns of many businesses or organizations. This paper led you to the definition of data, information, and knowledge and also the knowledge management. It also led you to the main contributions of this paper including in 3 parts: the first is the competitive advantages that the knowledge management brings to the businesses. The second contribution is the benefits that the manager gains from management of knowledge. Lastly, another relevant contribution is skills need for the manager when using and delivering the knowledge in the business.

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