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Knowledge is power. Knowledge assets and intellectual capital are potential sources of wealth. The creation and management of knowledge can lead to new, novel applications and products. Sharing knowledge throughout a firm can enhance the firm’s processes and core competences, thus making the firm more innovative and competitive. Most technology ventures are based on knowledge and intellectual property that must be enhanced and managed. A learning organization is skilled at creating and sharing new knowledge and uses this knowledge to do a better job. Product design and development, which is concerned with the concrete details that embody a new product or service, can add significant value to what is offered to the customer. Prototypes are models of a product or service and can help a new technology venture to learn about the right form of the product for the customer. Scenarios are used to create a mental model of a possible sequence of future events or outcomes. Knowledge acquired, shared, and used is a powerful tool for the entrepreneur to build a new venture organization.
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KnowledgeNet
(A)
Describes the internal reporting package for a rapidly growing
company in the e-learning industry. Management must analyze
the data in the package and decide what actions to take. They
must also decide what to communicate to the board of directors.
Contains a description of the company and a copy of the reporting
package. Teaching Purpose: To expose students to issues related
to measuring the performance of the company as a basis for
improving performance.
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Vermeer
Technologies (B): Realizing the Dream
The Vermeer team works day and night to develop its software
offering, unforeseen difficulties and internal tensions notwithstanding.
In less than a year, the product is ready. The Vermeer team
waits anxiously for the market to pronounce its verdict. Teaching
Purpose: Exposes students to the intensity of the compressed
development process characteristic of start-up companies,
especially in the Internet business, in which speed is of
the essence.
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(DVD Section 9.4) David Kelley: Design is Risk-Taking
Kelley further describes his passion and what design means to him. He describes design as a process of having a combination of ideas in the head that need to be organized, while making a leap of faith about how it will be presented. He says, "For me, it's a totally enjoyable experience...There's a zen moment for me, where time goes by and you lose track of everything." He presents a few design projects, including Personal Sky and SpyFish...and weather-related inventions.
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David Neeleman: Examples of Great Companies
What are examples of other companies that are good examples with strong customer service, organizational culture and business models? I often wonder what the people in Troy, Michigan thought when they first heard about WalMart. Sam figured out that knowledge in distribution, price points, and that little human touch would revolutionize retail. Dell Computer is another example--computers are a really bad industry right now, but Dell manages to offer low prices, and offers great customer service and personalization. Nucor steel has been successful in the steel industry. JetBlue apires to model the successes of these companies. |
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Jeff Hawkins: Designing Successful Products
Hawkins questions: What is my philosophy for designing a product that is successful in the marketplace? I start with thinking about what is the right thing to build, but can I make a difference? It isn't about getting 5 great people together and figuring out a cool project. The goal in our case has been to bring the benefits of personal computing to a much broader audience. |
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Gajus Worthington: Product Development
After bringing together the best team, raising money in tough environments, and establishing and living by core values, Fluidigm focused on launching the product. The product development went much faster than anyone could have hoped and soon they had a product with many important features, including an immediate economic benefit to the customers. |
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Matt Hershenson: Designing Products your Customers's Customers will Love
The Hiptop founders designed the product in the way that was the most appealing to them. They had strong convictions about what the product should look like and the things it should do, which were not necessarily the same ideas the carriers had. However, the innovative design won them over. |
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David Kelley: Designing Products vs. Designing Experiences
You start to think about things completely different when you think your job is to design the experience of using the device as opposed to designing the device itself." Kelley feels that to captivate an audience you need to build a context around the technology you are marketing and take into consideration how outside factors will affect how your product is perceived. He uses methods of transportation as an example, and lists areas of user experiences which one should take into considering when doing design for such a product. |
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What's Your Strategy for Managing Knowledge?
The rise of the computer and the increasing importance of intellectual assets have compelled executives to examine the knowledge underlying their businesses and how it is used. Because knowledge management as a conscious practice is so young, however, executives have lacked models to use as guides. To help fill that gap, the authors recently studied knowledge management practices at management consulting firms, health care providers, and computer manufacturers.
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