Trending Now

Building a Resilient Supply Chain with Advanced Predictive…

New Articles

How Global Leaders Can Manage Knowledge, Risk, and Talent Management

risk
Archives, Executive Education, Global Trade Daily

How Global Leaders Can Manage Knowledge, Risk, and Talent Management

Leave a comment

Risk management, according to Karl Wiig, Chairman of Knowledge Research Institute, is an operational approach to represent knowledge management. But, in this case, it seeks to apply organizational knowledge in order to satisfy and exceed employees’ expectations and improve talent well-being.

All executives need to be aware of how to better control risk management, which coincides with talent well-being. To do this, they should understand the mediating role of knowledge management. This may be the answer executives need but may also lack the fundamental fortitude necessary to be an all-encompassing approach to predict talent well-being within companies. Due to this limitation, the focus of this article is based upon the critical role of risk management which allows a rich basis for understanding the mechanisms by which talent well-being is influenced.

Executives see knowledge management as an employee’s capabilities in securing benefits received by joining in risk management. Therefore, talent well-being has been determined as resources accessible through knowledge management to enhance executive operational risk management. One good example, in which Victor Sino, a director of Operational Risk Management at a prominent large organization states that operational risk is a risk of loss due to failed talent well-being, processes, systems, and an external event. Some of these can be controlled by executives and others are risks that have to be factored into strategic decision-making.

Companies were assumed to be defenseless entities against threats, and opportunities happened in business environments that were serendipitous versus planned and organized. Organizational risk management was developed to offset problems before they occur and to adjust or ship resources accordingly in the event of a threat. Executives must recognize problems, and work hard to overcome them. First, executives will need to adopt knowledge management to identify the employee’s individual learning needs and become more inspired them to put extra effort into their work. This can also improve talent well-being through acquiring additional knowledge and developing better relationships with them, and providing newer solutions and creating a better workplace for them.

Operational risk of large corporations is at risk if they can be easily imitated by the competition. Therefore, firm-specific knowledge must be guarded and not shared with the competition. Any leak of such information may expose the organization and increase the operational risk. Thus, the ownership of knowledge, or what I would prefer to call knowledge management, falls under the operational risk category and must be managed and also monitored due to fluctuations in the dynamic economic environment of today. This can improve talent well-being through fostering the dynamic relationships among employees and departments, but most importantly, through satisfying employee needs. When executives have people in place to manage knowledge and embrace risk management, the organization can see better satisfaction with the most talented employees, and most importantly, enhance talent well-being.

Integrating Knowledge Management and Talent Management to Retain the Most Talented Employees

I suggest that both important factors of knowledge management and talent management constitute the foundation of a supportive workplace to reduce operational risk – two major concerns of global leaders today. Talent management is essential for business growth and prosperity while knowledge management, if not embraced, can lead to operational risk. Knowledge management can help organizations identify their inefficiencies in each process, and subsequently, recover them on an instantaneous basis, enabling executives to prevent further operational risk. Adding more manageable control of internal resources and reducing operational risk. Thus, when executives ensure the effectiveness of knowledge management they increase control and lessen operational risk.

Knowledge management utilizes modifications in order to efficiently and effectively use organizational resources, decrease costs, and control operational risk. Knowledge management also develops cohesive infrastructures to store and retrieve the knowledge to enable employees in creating more innovative solutions to problems and managing operational risks. My explanation of this is clearly within the executive span of control and potentially limits operational risk. I designed an approach for executives in large corporations to use talent management coupled with very prominent and useful construct of knowledge management so that the managerial implication is sound, justified, and operational to eliminate the gaps and serve the most talented employees in the organization that exist in the spaces between the lines of the organization.

Knowledge management enhances a firm’s capabilities to decrease the risk of imitation of organizational capabilities by competitors thus, managing operational risk. In doing this, executives that adopt knowledge management develop organizational communications aimed at providing valuable resources for organizations. They also enhance knowledge sharing among organizational members and stipulate knowledge to be shared around the organization. This process can potentially build an effective learning company in which the most talented employees can develop both personally and professionally. Knowledge management could, therefore, positively impact the most talented employee’s retention, through meeting the goals of personal development.

Additionally, executives that employ knowledge management create new ideas and knowledge for innovation through motivating the most talented employees to more innovatively solve organizational problems. Executives today realize that knowledge is the one of most strategic factors for organizations from a competitive standpoint. Knowledge management is a necessary precursor to creating new knowledge and ideas within organizations. The creation of new knowledge is a process and can be essential to identify the most talented employees’ needs and also recognize changes happening in the business environment. Through knowledge management, executives can contribute to identify and meet the most talented employees’ needs which lies at the focal point of executive success.

In conclusion, I suggest that executives embrace knowledge management. Knowledge management influences some of the spans of control of executive responsibility. My primary focus is on one factor (i.e. talent management) but there are many more important components of the managerial function that can be enhanced when knowledge management is embraced. The key here is that there are positive effects of knowledge management on talent management.

_________________________________________________________________

Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications.

cargo
Air Cargo, Archives, Global Trade Daily

Logistics Experts Take to the Skies for Air-Cargo Solutions

Leave a comment

A major U.S. air carrier sought to fill the void caused by leading same-day delivery services implementing their own fleets in the sky. A Midwest zoo needed to fly in from the West Coast its newest tenants. And a growing air cargo company required logistical expertise to take itself to the next level.  

Whether it’s managing airborne cargo networks, moving animals across the country or breaking air carriers into the delivery business, seasoned logistics professionals proved they were on it. Witness the following air cargo solutions.

Delta Cargo and Roadie

With UPS, FedEx and Amazon having acquired their own planes in recent years to cut down on costs associated with booking flights on major air carriers, Delta Cargo recently turned the tables by getting into the ground transportation business. Based in Atlanta, Delta partnered with Roadie, a local same-day delivery service, to recently launch DASH Door-to-Door and mark an industry-first for a U.S. passenger airline.

The 24/7 pick-up and delivery service, from your business or home, is available from Atlanta to around 60 U.S. cities with more being added all the time. Pairing TSA-approved drivers with air cargo, Delta Cargo and Roadie boast that DASH is the fastest cross-country door-to-door service in the country—and that it’s competitively priced. 

Matt Weisenburg, Delta’s director of Cargo Strategy and Alliances, referred to DASH Door-to-Door as “a game-changer” for Delta, as Roadie has more than 150,000 verified drivers and the largest local same-day delivery footprint nationwide, reaching 89 percent of all U.S. households. DASH includes handling of time-critical shipments in industries including medical, manufacturing, automotive, industrial parts and more. 

 “Customers want what they want when they want it,” said Marc Gorlin, Roadie’s founder and CEO. “This partnership means we can deliver—whether it’s across town or across the country.”

Brookfield Zoo and FedEx

A female sea lion, about age 2, was found in May 2018 at Westward Beach in Malibu, California, where she was unable to care for herself after being weaned from her mother. When staff from the Marine Mammal Care Center in San Pedro rescued her, the sea lion was severely underweight, extremely malnourished and suffering from multiple puncture wounds and fishhooks in her body and one of her eyes, which led to a ruptured cornea. Vision in her good eye was limited.

Six months later and about 90 miles away in Dana Point, California, a second female sea lion, also about 2, was found dehydrated, malnourished and obviously unable to fend for herself. Rescuers from Pacific Marine Mammal Center in Laguna Beach discovered she had lacerations on one of her flippers and chest from a possible boat propeller or predator bite. X-rays later revealed she had 30 to 40 stones in her stomach and, once those passed, she started eating again and was released back to the wild in January 2019. But a month later she was found again at Dana Point Harbor looking emaciated, and a new exam revealed she had a cataract in her right eye.

Experts agreed neither sea lion could survive in the wild, so the respective mammal care centers began looking for permanent homes for them. The National Marine Fisheries Service reached out to Chicago Zoological Society, which agreed that Brookfield Zoo could take in the sea lions. They were introduced to each other at the Laguna Beach mammal center, and animal care specialists from the Chicago zoo flew to California to meet both sea lions, get familiar with their distinct personalities and make arrangements to take them back to Illinois. 

FedEx generously supplied the plane with the precious cargo aboard that arrived at Chicago O’Hare International Airport on Sept. 18, 2019. The zoo named one sea lion Carolyn after Carolyn Frisch, the FedEx employee who made the travel arrangements. The second sea lion was named Sabiena (pronounced Sa-bean-ah) after Sabiena Foster, FedEx’s Chicago regional communications manager and the company’s No. 1 community volunteer.

Frisch and Dan Englund, who together manage the FedEx Live Animal Desk, have a combined 60 years+ experience in moving animals around the world. “I’ve gone to the Brookfield Zoo as a child, have visited with my own children and now I have a namesake there!” said an excited Frisch. “In my 30 years of shipping animals, I’ve never been so honored. There could be no greater acknowledgement of the long-standing relationship I’ve had with the Brookfield Zoo.”

Menzies Aviation and Hermes Logistics Technologies

Operating cargo handling facilities in nearly 40 airports across six continents and handling more than 1.6 million tons of cargo in 2018, Menzies Aviation needed a Cargo Management System (CMS) for its global network. The London Heathrow-based company recently selected the flagship CMS from Hermes Logistics Technologies, the UK’s leading consumer delivery specialist. 

Hermes 5 (H5), the latest version of the CMS, was scheduled to be rolled out at Menzies cargo facilities during the current first quarter. The standardization and open connectivity of the H5 platform allows for complete compatibility and data-sharing across all Menzies’ logistics facilities and services, which cater to customers small, medium and large.

“After benchmarking the industry, we selected H5 as our cargo management system because it was clear Hermes offers the most advanced solutions in the market,” said Robert Fordree, EVP Cargo, Menzies Aviation. “Hermes is in our DNA, we have a shared history and working with them means that we are uniquely positioned to take full advantage of the depth of functionality H5 has to offer.”

Fordree adds that “H5 will be integral to our toolset for achieving our growth trajectory.” Yuval Baruch, CEO of Bracknell, UK-based Hermes, agrees with that sentiment, although he notes Menzies Aviation will be building up “from an already strong foundation.”

Hermes 5 has been adopted by airports, airlines and ground handlers across the globe, including Hanoi Airport, RSA National, LuxairCARGO and CHS Trade in Slovakia since its 2018 launch. “Hermes 5,” Baruch says, “represents the future of cargo management solutions, its open architecture allows for full integration into cargo ecosystems, from warehouses to airports.”

Currently, the CEO and his team are gearing up for the Feb. 14 Hermes Tech Hub in Leeds, where the theme will be, “For the Love of Innovation: How Tech is Driving Personalization in the Retail and Logistics Sector.”