Write a short note on Recent trends in management of organizations.
In a knowledge driven era of highly specialized experts, businesses that can share and multiply that expertise the fastest will win the race. As the world becomes ever more complex, more and more of what we do is knowledge work, the application of highly specialized knowledge and expertise.
An organization’s competitive advantage revolves around its most advanced talent those leading edge knowledge workers who solve challenging problems, develop new products and take the business in novel directions. Naturally, competitive businesses want to protect this asset. They can patent inventions and trademark brands but they can’t so easily nail down the expertise that mobile employees carry around in their heads.
This is the fundamental driver behind the development of knowledge management systems, ways of capturing, storing and sharing expertise across an organization.
Experts get better at what they do by learning more. Some people can only learn by trying to do things themselves; but most people learn a lot from each other. When people share expertise fully and openly, the sum is greater than the parts. Quantum leaps in knowledge can be generated when experts collaborate. Then there is simple efficiency. Time and other resources are wasted every time employees have to learn something through trial and error, working in isolation.
The pace of change and innovation is so great that one person cannot do it all. When experts collaborate, progress can be made much faster than any one employee working alone. Speed is the essence today, speed of execution as well as that of innovation.