Knowledge Management, Importance of Knowledge Management, Human Resource Development, MS-22

Discuss different approaches to knowledge management. Explain how knowledge management is being carried out in your organization or any organization you are familiar with. Highlight its importance citing examples. Briefly describe the organization you are referring to.

It's "Information" Mining, one which is of utmost importance in consulting industry rather than the
previous two. Now people would ask, what's the difference between data, knowledge and information?
Well the answer is simple: the first one is raw material, the second is empirical output and the third one
is 'required/practical' knowledge. The significance of this statement would appear later on in this article.
Looping these comments let me go on to thread the topic of this write-up.

As is the academic scope of the Knowledge management, there are basically three aspects or strategies by which the consulting firms are cashing in or being helped in their strategic solutions

RISKS IN RELATION TO FIRST ISSUE: This being the first issue of shares of Zenith Global Consultants Ltd, there has been no formal market for the shares of Zenith Global Consultants Ltd.
The issue price (as has been determined and justified by the Lead Manager to the issue and the Issuer as stated under "Basis for Issue Price" should not be taken to be indicative of the market price of the equity shares after the shares are listed. No assurance can be given regarding an active or sustained trading in the shares of Zenith Global Consultants Ltd. or regarding the price at which the equity shares will be traded after listing.
GENERAL RISKS: Investment in equity and equity related securities involve a degree of risk and investors should not invest any funds in this issue unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this Issue. For taking an investment decision, investors must rely on their own examination of the Issuer and the Issue including the risks involved. The securities have not been recommended or approved by the Securities and Exchange Board of India nor does Securities and Exchange Board of India guarantee the accuracy or the adequacy of this document.
ISSUER'S ABSOLUTE RESPONSIBILITY: The Issuer, having made all reasonable inquiries, accepts responsibility for, and confirms that this Prospectus contains all information with regard to the Issuer and the Issue, which is material in context of the Issue, that the information contained in this Prospectus is true and correct in all material respects and is not misleading in any material respect, that the opinions and intentions, expressed herein are honestly held and that there are no other facts, the omission of which makes this document as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect

1. The Company is promoted by first generation entrepreneurs and the proposed project is the first major venture of the promoters and investors would be exposed to all the consequential risks associated with such ventures.
Management Perception
The Board and the team are top level highly successful professionals running similar independent ventures.. The Board of Directors and Senior Management Team of the Company possess requisite experience in the proposed line of activity. The implementation of the expansion project of the Company is at a very preliminary stage. There has been a delay in implementing schedule as envisaged by Dena Bank, the appraising Bank.
Management Perception
The implementation of the project is being funded by the public issue. The Company has already acquired the required premises on lease from MEPZ. The first phase of expansion has been completed. The delay has not caused any cost overrun & Company is confident of implementing the expansion project on account of additional & advance funds committed by promoters, their friends, relatives & associates.

2. The Company has not yet identified the locations for setting up an Overseas Office and Calcutta Office envisaged under the project. The Company is yet to apply for the clearances from RBI for setting up an office abroad.
Management Perception
The Company is in the process of identifying the locations for the Overseas Office and Calcutta Office. The Company will apply to RBI for the necessary clearances for overseas office at the appropriate time and is confident of getting the necessary sanctions as per schedule.

3. The Company is yet to place orders for major part of hardware and software, furniture & fixtures and other fixed assets.
Management Perception
The Company has obtained the quotations, estimates and plans and is scrutinising and evaluating the same and will place orders as soon as the public issue funding is finalised. As major part of the hardware & software requirements & other fixed assets are readily available and the Company is in the process of placing orders for the required items for which the suppliers have already been identified.

4. The Company is a new entrant in Computer Based Training (CBT)/ Web Based Training (WBT) with a recent tie-up with Quest 2000 U.S.A and largely depends on the same in respect of software development activities
Management Perception
The Company has tie-up with Quest 2000 Inc. USA, who will provide training and ongoing technical support to Company's software course developers. The Company is exploring new avenues for tie-ups. The proposed office at USA will help the Company to forge such tie-ups & to reduce the dependence on single customer.

5. The Company has an agreement with Tata Consultancy Services (TCS) for acting as a business associate for handling specific tasks with regard to Y2K related work. As Y2K solutions work has been completed the specific agreement has come to an end which may have adverse effect on Company's performance.
Management Perception
The said alliance is concluding by February 2000 as Y2K solutions work is likely to end by then. The Company will however explore other business alliance possibilities with TCS to replace this activity.
6. Presently the Management Training Division contributes more than 60% of the revenues, whereas the Company is projecting major growth in revenue from software division which is a relatively new activity for the Company.
Management Perception
The Company has decided to focus on Software Division, for the future as the major revenue source.

7. Since the Company is contemplating export of software products, any fluctuation in the exchange rate will have an impact on the Company's export income.
Management Perception
Given India's external trade and US Dollar-Rupee exchange rates, the Rupee is unlikely to appreciate substantially against the US Dollar in the near future.

8.    Group Company M/s Meher Artquest Private Limited is yet to finalise the accounts for the year ended 31st March 1999.
Management Perception
M/s Meher Artquest Private Limited is engaged in the business of buying and selling of artworks. The performance of this Company will not have a bearing on the performance of the Issuer Company.

10. The Company has given a loan of Rs. 1041424/- to its Group Company M/s Meher Artquest Private Limited and advances recoverable in cash or in kind or for value to be receive is Rs. 844179/-.

11. Advances recoverable in cash or in kind or for value to be received include Rs. 551941/- being advances given to Directors.

12. The Company is yet to remit dividend @ 10% for the year ended 31/03/1999 to an NRI shareholder for 7650 equity shares.

1. The Company will face competition from currently established companies and future entrants into the industry.
Management Perception
Being a sunrise industry, while there are few new players in the US, the Company is a pioneer in India with a CBT/WBT focus. With the respective strengths of market access and technology of its US partner and diverse skills, management strengths and low cost in India the Company has a potentially winning combination. The Company has established its presence in niche areas. Alliances with US firms coupled with strong existing clientele will help the Company to withstand the pressure of competition from other entities.

2. Recruitment, selection and retention of skilled, good quality manpower is the crucial factor in the success of a software Company.
Management Perception
The Company follows a rigorous and innovative recruitment procedure to attract the best talent in the industry. It has also evolved a favourable working environment for its employees by continuously upgrading its systems and undertaking various training programs so as to avoid high employee turnover. For many years Company as the consulting firm provided placement services for its Indian and Overseas clients and is hence well equipped to handle this.

3. In the Information Technology industry the rate of technological obsolescence is very high. Management Perception
The Company's Technical Group continuously and proactively manages its technology capability and initiatives with the support of its alliance partner. Continious upgradation of technical skills will help the Company to set off the technological obsolescence

3. Any unfavourable change in Government policies on Computer Hardware, Software, Exports etc., can have adverse impact on the profitability of the Company.
Management Perception
The software industry has been identified as a thrust area by the Government of India and it is unlikely that the government would initiate policies which could be detrimental to the growth of this industry.

1.    Existing, profit making, Company engaged in Management Training and Software Development activities.
2.    Highly  qualified  and  experienced senior professionals from  IT,  Engineering  and  Consulting background at the Board and Top Management Level
3.    The expansion project is appraised and funded by Dena Bank, Mumbai
4.    Business alliances with reputed companies like Quest 2000 Inc. USA, Tata Consultancy Services (TCS) and Leadership Management International (LMI), USA.
5.    Listing proposed on Stock Exchanges at Pune, Hyderabad and Chennai.
6.    Tax benefits available to the Company under Section 80 HHE of the, Income Tax Act.

What's Your Take on different approaches to knowledge management.

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