Business Management – SWOT and Knowledge Management w/Citations – Due Fri 11/12

Week 4: Understanding the Industry and Its Environment Skill #4: Collect knowledge and information about current events, technology, the business environment, the client's business, your company and consider this when making decisions. Looking back to week one and the recommendations you made in the week one assessment in conjunction with this week's material consider EC's position in the industry, their current customers and those in the future and identify trends, ideas, and technology that you feel Dwight should consider in growing the company. For this skill, Dwight wants to see how well you can judge the external trends for the business by measuring your understanding of a SWOT analysis. Below is the SWOT chart that Dwight has developed. Strengths Weaknesses

• Strong Internet growth • Sound financial status • Use of state-of-the-art technology to

produce competitive products • Made in America Qualified • Employment of Wounded American

Veterans

• Medical Insurance is very high because of the wounded employees

• revenue based on individual buyers rather than larger industry customers

• Sourcing material is becoming harder • More leadership is needed • No KM department • Understaffed IT department

Opportunities Threats • AI in Production and Customer Service • New Engineering of Wheel Chairs is

leading to new in-home products (EC can diversify)

• Expanding EC workforce by dropping the Wounded American Vet Hire policy

• Regulations making lithium batteries safer will make new product line possible

• AI in Production and Customer Service • Many large companies are buying

smaller companies and becoming one stop shops for medical accessories

• Law suits for engineering and design flaws are increasing dramatically

• Losing larger heath center customers • Sourcing material is becoming harder

Skill #5: Know the basics of knowledge management. Inga Swanson was one of the first employees Dwight and Ike hired. She runs the customer relations department and now the online returns and rewards programs as well. Recently she has gone to Dwight and Ike with the idea that her commitments to the webstore are getting so demanding that she needs help in several areas. She wants to hire people to take over the customer relations department and online returns so she can focus on the webstore and move into a marketing role. She thinks that Dwight and Ike should consider this move for two important reasons; better decision making and should anything happen to her the whole online and customer relations departments would shut down. Ike agreed immediately and Dwight was right behind him. The problem Dwight realized almost immediately was how would the transition work with all that knowledge in Inga's head? and all the tools she uses to measure her marketing goals etc. How can we make good decisions without them?

Dwight wants you to look at the idea of collecting and storing the knowledge Inga and the others have in the business. Using the course material and prior business class experience complete a brief 2–3 page memo outlining the steps a manager might take to make the transition go smoothly. In the outline include:

• Explain how to capture, collect, and store knowledge for the company. • Explain how these actions will affect performance in the company. • Describe how you go about collecting knowledge from Inga. • Explain how the knowledge will affect the hiring decisions for the new

departments or should it be teams? • Explain how it could affect Inga's new role.