The present business environment is characterized by fast, unpredictable, and high-value competition. To survive in this scene organization must be receptive, responsive and elastic. The new economy is described by the “shift to knowledge” as the main determinant of economic growth and success. The “shift to knowledge” as the primary source of value means that knowledge plays a key role in the definition, functioning, and performance of organization.
Instead of capturing “intellectual human capital” organizations should develop a culture of knowledge management and knowledge development. It is crucial to know that human beings are social animals they can only learn through interaction so any organization which has dream that its employees have good communication skills, decision making power, analytical skills, negotiation skills, and innovation should focus on the social interaction. Moreover, this interaction must be open to mind without any limitations and boundaries so that the employees can learn more than usual. Maintain a culture of experience share and knowledge share in the entire organization as it is a valuable assets your employees have with themselves.
Knowledge is an intangible asset and can be a source of competitive advantage if properly espouse to the world. The organizations learn as its employees involve in learning behavior. Employees can learn through both ways formal and informal. But during my observation period I noticed that informal part contributes more in learning. Unfortunately in Pakistan even big organizations that operate locally now focus on training session which cost more and in outcome reward less. Training is a great source of learning but follow training without other investigations that here in this particular scenario it is needed or not is common. This “Training Fashion” can be dangerous for human minds and capacity.
Simply what the necessity of time is organizations in Pakistan should develop a “Knowledge circle”. This can be a sector based and should develop a year calendar for meetings, get together and training sessions. Also Participants in all events should be sector base not company one. It will save cost and results will be more towards achieved side.
It is a much critical period for all businesses around the world and everyone is trying to be best in order to sustain its business activities. The preeminent approach is to develop the business hub on knowledge base. However, try to use the employees’ potential in the appropriate direction is equally significant.