knowledge management as a competitive advantage for smes in the global markets
DESCRIPTION
Mr. RJ. Liow, Founder & CEO of award winning AYS presented his thoughts on why, and how knowledge management can be an important strategic advantage for SMEs when competing globally. Mr. RJ. Liow is also the winner for "Knowledge Management Leadership Award", presented at the Global Knowledge Management Congress & Awards 2014, which was held in Mumbai, India on July 27th, 2014.TRANSCRIPT
Knowledge Management as a Strategic Advantage for SMEs
Global Knowledge Management Congress 2014
RJ. LiowEntrepreneur. Author. Speaker
Key take out
How Knowledge Management give SMEs the competitive edge
Our Vision:To be a trusted brand for International Halal Business Advisory, Halal Ecosystem and M.I.C.E.
Our Mission:“To assist our customer partners to be successful in their business endeavor.”
“In AYS we aspire to build a sustainable business that goes beyond conventionalbeyond conventional commercial
platform.
We want to play a part to create the most create the most impact to the life of our consumers & impact to the life of our consumers &
community.community.”RJ. Liow, Founder & CEO, AYS
What do we do?
1.Investment in Halal related businesses
2.Services:
1. International market entry & development 2. Handholding on setting up of Halal Ecosystem3. Halal Entrepreneurship Learning Program 4. Organize Conferences & Business Matching
We create winning brands
Picture with Former Prime Minister of Malaysia.
AYS is an award winning industry thought
leaderWe think out of the box, and are able to assist you to fine
tuning your operation, prepare and connect you to the international markets
www.marketinghalal.com.my
TV interview
We tailor make MICE program for you(meeting, incentive, conference, exhibition)
Our signature program: 2 in 1 Combo “Business Matching + Exhibition”
We are the winner of “Halal Tech Challenge 2014”.
Organized by Malaysian Global Innovation & Creativity Center (MAGIC). Initiated by Ministry of Finance, Malaysia
Picture with Prime Minister of Malaysia.
Key factors influencing business prospects for SMEs:
Cost of doing businessBusiness sentimentConsumer confidenceConsumer spending
* Survey on SMEs, 2012
The 3 main measures undertook:Product or service improvement (69%)Process improvement (47%)Up usage of machinery and equipment (36%)
The ChallengeThe Challenge
The ability to store, capture, and distribute knowledge within and across
organizational boundaries
Knowledge and Knowledge Management
are strategic advantages
Formula for Formula for Success in Success in BusinessBusiness
Source: RJ. Liow, “Marketing Halal: Creating New Economy. New Wealth”
Low-Cost Strategies:
Knowledge used to cut costs, lower prices, and shorten cycle times
Differentiation Strategies:
Knowledge adds value to a product giving its unique characteristics
Significant competitive advantage over competitors through:
Knowledge Management in the process of acquisition, retention,
maintenance, and retrieval of knowledge within a SME
Avoid:
Knowledge that is isolated in one department or in a specific segment of the value chain is not utilized to its full
extent.
The quest to innovate – essential for SMEs to remain ahead of competitors.
Acquisition of new knowledge – is a way to gain and maintain competitive
advantage
New Knowledge:New Knowledge:
•Should be properly managed•Through internal knowledge management systems •Create learning opportunities for other departments
2 types of knowledge management systems for renewing competitive advantage
1. Passive Knowledge Management systems
•Eg EDI system•Orientation on the “present” •Tend to be used with channel members •eg schedule component deliveries, reduce cycle time, cut inventories
2. Active knowledge management systems
•“Future orientation"
•Anticipates future buyer/seller behavior (e.g. market back R&D).
Proactive knowledge management systems:
1. Enhance efficiency through time and cost savings.
2. Link “voice of the consumer” to all stages of product development, production and distribution through the value chain
Internal and external knowledge management systems give greater
competitive advantage
Possible challenges in implementing Possible challenges in implementing Knowledge Management in SMEsKnowledge Management in SMEs
•Time for development actions.
•Culture, motivation of staff, and ability of the management team to share ideas and discuss strategic issues.
•No sufficient manpower to lead and execute knowledge management throughout the organizations.
However difficult, set up your However difficult, set up your Knowledge Management System Knowledge Management System
and share with your teamand share with your team
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For more information on
www.ays.com.my
Google “Liow Ren Jan”
Call us: +603-626 38550 email us: [email protected]