Practical knowledge is action-orientated.

Active practical knowledge builds better businesses.

Why Practical Knowledge

At its most basic level, particularly during drought or adversity, practical knowledge should seek to address the following key issues, but it will require an action-orientation approach to be effective:

  • Identifying and executing ongoing revenue generation opportunities.
  • Building awareness of the changes taking place in the marketplace.
  • Improving overall problem-solving and decision-making.
  • Identifying and capitalising on opportunities to better control costs.
  • Reduction in and mitigation of risks.

Not everything can be successfully executed online, out of books and through training courses.  It is where a visit with a specialist facilitator or coach can help. There will always be issues which will take time to work through and sometimes a workshop run by a facilitator may be what you need.

Practical knowledge challenges.

While having practical knowledge associated with all aspects of your business, finance and strategic planning, is perhaps the first to focus on it. Experience in operations, technology, management and relationships will also have significant impacts on the business outcomes.

Look at knowledge like grease to the wheels because, without it, the business can grind to a halt. New, learning about our global economy and the technology that is driving it can make dramatic improvements in your business outlook and performance. One thing that will have a significant impact is the shifting to a mobile workforce, so the more practical knowledge you can acquire in this area the better,

A business contains practical information and knowledge which is invaluable to owners and managers; in fact, something everyone in the organisation can receive a benefit. Challenged by the current economic pressures and operating with tighter margins, businesses are struggling to balance customer demands and profitability. It is without the tasks of gathering and managing additional knowledge.

Use this model to start building your practical knowledge base.

Action-orientated knowledge is essential for content marketing.

The content used in marketing, on websites and social media has long been necessary. But it’s only in recent times it’s being given the respect it deserves in the way of practical knowledge. Search engine updates are now geared explicitly to high-quality content. It means more and more organisations will be looking to improve learning in the content they provide.

Your focus should be on creating content that provides valuable knowledge to customers and other searches of websites and social media. Emphasise creating, nurturing, and converting leads through the use of useful knowledge. 

The challenge is to harness the enormous amounts of information and knowledge contained within a business. Then look at what’s available externally to contribute to a more efficient, profitable and sustainable business.

Disruptions to your business are not something you look forward to, but something is coming soon to disrupt it? It may be a breaking relationship, a location problem, a new government policy, the impact of mobility, robotics and social media, to name just a few.

Whatever it is, it can cause your business model to fall to pieces and your business plans to become obsolete. Disruptions make you lose control; knowledge helps you to keep control.

Practical knowledge management.

It is the efficient management of the knowledge, or ‘know-how’ you have that is needed to operate your business, as well as being critical to its success and sustainability, includes the following:

  • Identifying what knowledge and knowledge management you already have.
  • Identify the practical knowledge missing and what knowledge management is required to have your organisation running well.
  • Capture practical knowledge critical to your industry.
  • Qualify and document in a usable form with instructions for its usage.
  • Obtain new knowledge and insights on how to handle droughts.
  • Record and store for easy retrieval and use.
  • Disseminate the knowledge into the hands of the people who need to know.
  • Leverage the value of your experience to grow and run the business better.

The more times the same piece of knowledge is used, the more you multiply its value. People are forever saying they have no time to grow their businesses. It is because they have to keep working out how to do something over and over again, which is undoubtedly a big time waster. 

Practical knowledge in a ‘knowledge management system’, can be retrieved and used over and over. It must improve the overall performance of the business. When a piece of knowledge becomes exposed to many people, you will be amazed at how it can be and will be improved.

Sometimes people take their knowledge for granted and have no concept of its real value. The main thing is to make a start by gathering your people together and do some ‘Brain Storming’. From this, you can start to identify an action list of what is essential knowledge for your business.

Perhaps doing a one-page-plan on your knowledge management would help you. It will undoubtedly help you to make a good start in this vital area,

Quotable quotes

“As with anything, you must expand your knowledge and skills to succeed”. Peter Sergeant

“Knowledge is the most powerful weapon you can have to solve problems”. Peter Sergeant

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