December 23, 2010

By Susan J. Campbell

TMCnet Contributing Editor

 

In the business field, there has been an emerging trend in knowledge management that is capturing the attention of business leaders everywhere. It is no longer enough to simply offer a product or service a customer may want or demand; businesses today need to gather information on the market, the competition and the customer and manage this information intelligently if they hope to dominate the market. 

With this increased focus on knowledge management, a number of colleges and universities are noticing a jump in the number of individuals seeking a management education. This recent India Times piece highlighted how the passage of Union HRD minister Kapil Sibal’s legislation, the Foreign Universities Act, could change the knowledge management education landscape throughout the world.

Interestingly, as schools around the world are watching this legislation to determine if they should take their schools to this land of opportunity, India has been sending students to foreign countries for an advanced education for years. The country sends students abroad to study everything from science to hospitality to business management. 

The United States has often been a popular destination, although focus is now shifting to countries such as Canada and Singapore.Singapore has developed a reputation as a center of excellence in education. The country’s transparent and open government and economy help to make it a popular destination. As more and more business students focus on locations like this to advance their education, an understanding of knowledge management and the extended opportunities in this field could help guide the student in the right direction.

The educational landscape throughout the world is changing mainly because today is the era of knowledge management. It is no longer enough to simply have knowledge. Now, you must take that knowledge and assimilate, synthesize and employ it appropriately. This is true in education and it is true in the enterprise. How you use and manage knowledge can make the difference between success and failure.  

In their future employees, companies are looking for individuals who can effectively drive knowledge management. How can you learn about the market in which you compete and your customers and leverage that information together to be proactive with your new product and service launches? There is a growing need for global managers who are able take this approach with knowledge management to embrace diversity, ambiguity and complexity and turn it into measurable success. For those who can meet the challenge, the opportunity exists.

Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.

Edited by Juliana Kenny