Increasing focus on capturing and retaining knowledge through IT
PALAKKAD: The Sree Narayana Guru Institute of Science and Technology director Anandakuttan B. Unnithan has said that "in the emerging knowledge economy, there exists a `perform and perish' situation as the technology is advancing so rapidly that it is upsetting our life."
Dr. Unnithan was inaugurating a seminar on `Emerging trends and job opportunities in the field of management education,' organised by ICFAI University, here on Saturday.
He said the emerging knowledge economy, which demanded high performance and technological advances, was resulting in many industries closing down for they were not able to meet the competition. It was the survival of the fittest for the companies and individuals, he said.
Dr. Unnithan said in the globalisation and liberalisation era, customers had more choices because of the competition. The competition had become global because of the increasing globalisation and interdependence of economies.
Even though customers had more choices, the problems of resource constraints and shortage of talent existed. In such a turbulent situation, management had become very difficult because one had to grapple with so many problems, he said.
There was increasing focus on business processes and re-engineering to capture and retain knowledge through IT. Leveraging the core competencies and outsourcing were the need of the hour. There was need for exploring the last frontiers of efficiency like supply chain management and logistics.