Paper Topic:

Innovative Approaches to Corporate Management

Innovative Approaches to Corporate Management

Outline

Introduction

Knowledge Management and Organizational Learning

Importance of Knowledge in Modern Organizations

Knowledge Asset Management Models

Innovative Corporate Learning

Customer-focused Business Models

Increasing Customer Focus as a Source of Competitive Advantage

Concierge Business Models

Incorporation of Socioeconomic Issues into the Framework

Changing Perceptions of the Consumer

Socioeconomic Issues Driving Development

Conclusion

References

Introduction

In the fast-paced modern environment , innovation in corporate management becomes a distinctive competitive advantage the organizations can exploit to sustain their position in

the market . Some of the most conspicuous innovations relate to the way organizations learn and process information nowadays , embracing knowledge asset management models and types of organizational learning . Being more focused on customers than ever , many businesses are trying to develop models that will strengthen their relationship with the customer . In addition , a number of businesses are willing to add a distinct socioeconomic touch to their operations . All these factors combine to produce often groundbreaking changes in corporate management these days

Knowledge Management and Organizational Learning

1 .1 . Importance of Knowledge in Modern Organizations

These days , most organizations have realized that their most valuable resource they possess is skill set and knowledge of every employee (Nagumo , 2005 . Information often defines success or failure of the organization , as well as its position relative to its competitors Accumulation and augmentation of knowledge therefore become a priority of most companies . These two tasks require two mechanisms : first , the construction of models governing the development of knowledge within an organization second , implementation of process that will enable employees to creatively participate in the development and usage of organizational knowledge

1 .2 . Knowledge Asset Management Models

The vast bulk of information accumulated by organizations at this point necessitates usage of a variety of knowledge asset management models Presentation of information to decision-makers can have dramatic influence on the outcomes of the decision-making process . Thus , scholars investigating ecosystems in West Coast marine communities have discovered that their findings are much more appealing to managers when presented in a format linking these findings to the life of coastal communities . This improvement occurred since the currency with which the information is presented needs to be more relevant to the managers experiences (Francis , 2005

In the process termed knowledge asset management , organizations utilize ubiquitous networks that serve the purposes of knowledge augmentation and knowledge accumulation . Accumulation occurs where many widely scattered experts and specialists linked via networking can each take a little time to provide answers and /or assistance in response to inquiries , and knowledge augmentation includes cases when highly qualified professionals come together in an effort to pool their knowledge to solve sophisticated problems (Nagumo , 2005 ,

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1 .3 . Innovative Corporate Learning

Organizational learning also remains a robust area of growth as corporations will continue to strengthen and reinforce the applied side of learning to make sure that investments in learning are effective and efficient (Plompen , 2005 . Oftentimes , this means empowering the employee to deal with issues he or she has never dealt with before...

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