Choosing Knowledge Management Workshop

I strongly feel that organizational knowledge must be captured and communicated in a structured way because much of it is transmitted through the social media platform and will be lost of a sea of posts, visuals, and multimedia. The social media also is a large magnet of fake news and may create a diluted form of knowledge spread in the midst of random development. This is further exacerbated by labour mobility and future challenge of robotics and AI knowledge gathering.

With all this in mind, here are my thoughts on choosing the best knowledge management workshop.

  • The lead trainer’s credential. When you attend this workshop, your lead trainer should have had experience in academia because he will have had developed the maturity to have done rigorous research and communicated this information in a university of very inquisitive undergraduates.
  • The model. Every workshop must be structured around a specific model that has been practiced in relevant industries and with MNCs. It should not be a model that was created by merely reading up of popular business journals or magazines.
  • Past participants. Another measure of a potentially successful workshop will be the feedback from past participants. Confident organizers of knowledge management workshops will be forthcoming in providing a detailed list of past corporate participants, with a selection of feedback.
  • The fees. It is illogical to expect basement level workshop fees because the cost of running a 2-day workshop is not just the trainer’s fees. The participant’s fee includes the cost of venue rental, refreshments, and materials.
  • Case-studies. It is a given that participants will be provided with enough case-studies for analysis and reflection. These case-studies will enable the participants to apply what they have learned and to enable the participants to relate back to their respective companies about the application.
  • Training Partners. The workshop will be more acceptable if there are globally-recognized organizations or associations that also endorse this knowledge management workshop. This will provide the further reassurance that the workshop content meets the expected high standards.

Building Sustainable Businesses

The concept of low prices has long been the kingpin of IKEA’s outstanding performance in a traditionally low profitability sector as it was translated across all the operations of the company to ensure that every possible cost is taken out – from tasteful and knock-down design to lean manufacturing to flat packing to tightly controlled logistics to the concept of its stores and its self-service model – all mutually re-inforcing.

After having mastered the virtues of lean operations, IKEA is now taking it to the next level under the cover of achieving sustainable growth i.e. decoupling growth from environmental impact and increasing the company’s positive social impact.

This will obviously drive cost reductions further through initiatives such as becoming 100% energy self-sufficient by 2020 across its operations from stores to factories to distribution centers (with an investment of €1.5 billion to 2015 in renewable energy through for example installing solar panels on the roofs of its stores and building wind farms) which will additionally cut the risk of carbon pricing that will be implemented in most of the countries where it operates. Further costs reductions will also be achieved through ensuring that all operations are LED enabled or remaking classic products using fewer parts or working with furthest parts of the supply chain such as the cotton farmers to reduce their running costs (e.g. pesticides, fertilisers and water) while increasing yields.

IKEA definitively seems to “walk the talk”, making a direct link between sustainability issues such as energy efficiency, waste management and pollution and business value. However, the business case of reducing costs to sustain its business model profitably has always been at the core of IKEA and sustainability issues only add a 21st century twist to the purpose defined by its founder and the company’s strategy.

Ways to Prepare For a Real-Life FDA Audit

The inspection by FDA investigators sounds scary if your own internal auditing processes are weak and faulty. But, to understand FDA procedures and how to successfully pass their audits, you need to first understand the role of FDA investigators. The job of the FDA is to make sure the health of the common people is protected. It’s also their responsibility to ensure that the products launched in the market are effective and safe for the people to use and that there are no probable side effects of any new drug developed.

So, it’s obvious that their focus is upon sanitation, purity, quality, and a particular identity of the drug being developed. It also reflects why GMP or good manufacturing process has acquired so much importance for the FDA. There must not be any violation of the Food and Drugs Act. Furthermore, they are also supposed to make sure that no counterfeit or diverted drug is sold in the market.
Start your own auditing

However, you need not be scared of an FDA audit as there are simple ways you can improve the quality of your processes. The first such step is to start your own auditing. Your internal auditors can take charge and start monitoring the processes. They should not be restricted to making recommendations. In fact, they should be authorized to change processes. Senior managers should also be kept in the loop to improve processes and to make sure that corrective steps are taken well in time and according to the schedule.

Internal auditing processes are very effective in improving the overall processes. You can hire third-party auditors from outside to make sure that the teams are exposed to severe mock audits. This works both ways: it brings you the complete analysis of the procedures and performance of your company; and it also works well for the training of your teams for the actual formal audit.

Don’t underestimate the experience and skills of third-party auditors as far as their ability to improve your procedures is concerned. It goes beyond passing the audit. Their inputs and tips can provide you a good insight into the prospects of your company to grow into a more successful organization.

How To Set Prices

Here’s the thing about pricing… it really doesn’t matter what the price of a product or service is. The only thing that matters is your belief in the price and your ability to transfer that belief to a customer.

I’ve seen two identical bottles of water selling anywhere from $0.99 to $4.99. It all depends on where you buy it. And there doesn’t seem to be a shortage of buyers at either price.

I’ve seen coaching programs priced from $50 an hour to $100,000 for a year.

It all comes down to how valuable the person who set the price sees their product or service.

Let’s look at the water. Some things to consider are:

  • Availability: How easy it is to get and if there are other stores selling the same product nearby.
  • Demand: How much demand is there for water. How badly did his potential customers want the water? Do they need to encourage clients to buy it? Would it be a quick add on “no brainer” type of purchase or would customers come into the store just to buy water?
  • Quality or uniqueness of product: Was there anything special about the water that he was selling? Was it available elsewhere?
  • Importance of the product is to the potential customer. What would happen to the potential customer if they did not have the water? Were there other options available to them? What would having the water do for the client? How would they feel, or what would they experience, (or not experience) because they had it?

So what about you? How do you price your products or programs? Especially if what you sell is a service and not a physical product?

I was speaking with one of my top-level clients about pricing one of her programs. She was concerned that the price was too high, that she wouldn’t be delivering enough value for the price and wanted to add more features to the program (there is more about features further on in this article).

I listened and when she was done I asked her if she believed in herself. Did she believe that the content that she planned to deliver would serve the people who registered for the program? I asked her if she believed that she was qualified to teach that material?

She told me that without a doubt she was qualified to teach the material and that she was certain that the material had the potential to change the lives of the people who joined the program.

What specifically are you offering? How many sessions or classes is the program? Is the material being offered virtually or in person? Is it a group experience? Are you going to work one-on-one with people? Is it a self-guided program or are you going to deliver the material?

What do they get, what are they able to do, what do they experience or what do they no longer experience because of the program that you offer?

This is very important. It might sound crazy but the people who buy your products and programs are not buying your products or programs, they buy the experience they get by using your products or programs. For instance, you do not buy a chocolate bar; you buy the experience you have when you eat the chocolate bar. You do not buy a gym membership; you buy the experience you have at the gym and more likely, the results you get from what you do at the gym.

Is this program a client’s first experience with you? Do you want it to be a “no-brainer” purchase? Is the program meant to be a pathway to other programs? Do you want the program to be more of an exclusive program? For instance, I have a variety of programs and products priced at various levels. Some are priced to sell. These programs give people an opportunity to get to know me and give me an opportunity to offer them higher-level programs when appropriate. Other programs are more exclusive and are at higher prices.

I can’t stress how important this is. So many people want to “validate” their prices by offering more features. They throw in extra bonuses, add more calls or classes or give more of their own time. Take a moment to consider two things. First: What do you want to give? How much time and energy do you want to put in? What is going to work for you? Second: What does your client really need? What will solve your client’s problem? Most likely your client does not need more than the basic program. It is more likely that you want to put more in to make you more comfortable with the price.

Now we go back to our water example and availability, demand, quality and importance of your product.

Availability: Does anyone else offer something similar to you? Most likely yes. What is their price? Who are their customers? Do you want to compete with them? How many spots do you have to offer in your program? Do you want many people in it or just a select few?

  • Demand: There must be a demand for your product. If there is no demand then do not offer it. I like to create products or programs when people ask me for them. That way I know that there is a demand.
  • Quality: Is the quality of your product Wal-Mart or Nordstrom? Both companies make a lot of money and both have very sound markets. They key for you is to know which market you want to cater to and price your products and services accordingly.
  • Importance: What will your customers experience because they bought from you? What do people who do not buy your product miss out on?

What it all comes down to is that the price you put on your product or service is what you believe it is worth. The trick is to believe in your product, and to market it confidently with a focus on the benefits your clients get through it so that your clients see the value in it that you do.