The on-demand economy is the result of pairing the workforce with the smartphone, which now provides far more computing power than the desktop computers which reshaped companies in the 1990s, and to far more people. Connected to each other and to yet more data and processing power in the cloud, these devices are letting people design or find ad hoc answers to all sorts of business problems previously solved by the structure of the firm.
As a consequence, knowledge-intensive companies have started to contract out more work to the market, partly to save costs, and partly to free up their cleverest workers to focus on the things that add the most value.
What sort of world will this on-demand model create? Where are the opportunities of costs saving? And which are those activities knowledge workers should focus on within global enterprises and government institutions?
Please, have a look at the recent article about the on-demand economy in the Economist: http://econ.st/1vK2cbq, and let's have a chat how to find the right answers to the above questions.
It's an old tradition of us, that every year we sponsor the Christmas Cocktail Party of the British Chamber of Commerce in Hungary and the British Embassy in Budapest, organized jointly this year with the British Business Center.
Participants of the Christmas Cocktail Party will also have the chance to win free subscriptions for the BCCH Business Certificates, our e-learning course portfolio jointly developed with BCCH and Corvinus University of Budapest.
BCCH Business Certificate targets junior and senior staff as well as mid-management, with different online knowledge resources tailored to their development needs. In addition, a vocational course portfolio enables specialisation opportunities in sales, call centers, marketing, etc.
Meet us in the Old Banking Hall of the British Embassy in Budapest, on the 17th of December.
Innotica Group has been invited to contribute with their expertise to the new MSc Program in Business Analytics, to be launched by CEU Business School in September 2015. We consider this a very exciting opportunity, since our core services are focusing on converting everyday's data into practical knowledge.
This new MSc program is anchored on knowledge from Economics, Management, Statistics and Technology, which provides the bases for new skills and competencies. The result of such new capabilities is an ability to create value from data analysis, especially Big Data, in a business environment. Emphasis is placed on linkages and communication between all relevant disciplines and on improving understanding between business decision makers and data experts.
The kick-off meeting has taken place at CEU Business School, yesterday.
One organization reported that the next anticipated wave of almost 700 retirements would mean the loss of over 27,000 years of experience. If that know-how and those skills (or better ones) can be hired on the open market, or if the succession planning has been meticulous and a highly qualified successor can step right into the vacancy then it's certainly not a significant problem for the organization.
Authors of Critical Knowledge Transfer (Harvard Business Review Press, 2015) found that managers often don’t know what they have lost until after the expert leaves — and by then, it may be difficult to recover. In after-the-fact stories, we heard about critical losses in four areas in particular:
The price tag associated with such losses were estimated to be as much as 20 times the more visible, tangible costs of recruitment and training.
Read the Harvard Business Review article about the importance of knowledge transfer, which has been published today:
Almaty Management University has recently appointed Dr. Zoltán Csedő, Managing Partner of Innotica Group, as a PhD supervisor within their PhD Program of Business Administration. The PhD theses are going to be focused on knowledge management, since there is a great interest in Central Asia regarding knowledge management strategies and systems, both from academic and business perspectives.
Dr. Csedő is going to contribute to the doctoral research, and Central Asian regional ambitions aiming the integration of local business traditions with global scientific and business excellence, as well as international best practices.
Almaty Management University is a leading business education and research institution in Central Asia, having more than 3,000 students and 277 academic staff. Its mission is to train a new generation of socially-responsible business leaders in Central Asia, with reliance on international integration, business cooperation and the energy of creative and proactive team of professionals, aiming at bringing personal success to clients, partners and staff.
/On the photo: Mr. Gaidar Uteshev (Director, Almaty Management University) and Dr. Zoltán Csedő (Managing Partner, Innotica Group) at a traditional Kazakh festival organized by the University/