Most organization’s often find a less than favorable trend between ambition and performance. There is a balancing act between strategy formulation and execution. Often times it is front line employees that deal directly with the consumer or with production, while senior management look for ways to ensure organizational effectiveness. Effective communication, a well-defined model and development of the organization’s objectives will help keep the best people, improve their performance and get results for the organization.
Topics: Competency Development
The aging and retirement of the baby boomers is significant. Most of the personnel in the industry are from that generation and are in their late fifties, so retirement for many is looming in the near future. There is an age gap in the oil industry work force with the 35 to 50 year old age group significantly under-represented. This is because of downsizing during the 80's and 90's, which resulted in more than half the oil industry jobs being eliminated.
With access to a computer, connection to the internet and basic knowledge of computers, workers can now access training material anytime from anywhere around the globe. As many have found out, this form of training isn’t just convenient; it is a big cost saver. Since workers don’t have to travel the world to catch up with training, organizations can redirect the transportation budget to other areas. ELearning is also flexible and a real possibility to small and large organizations alike.
Exploring the effectiveness of media on learning, psychologist Richard Mayer brings an interesting and well-examined viewpoint.
If there is one thing we understand well here at SMT Learning, it's the importance of understanding the knowledge of an organization. Without a human database of knowledge, an organization will crumble.
Here are 7 things you should know about your organizations' knowledge...
- Knowledge without discipline is meaningless.
- An organizations’ intangible resources such as intellectual knowledge and know-how are key to its success
- Knowledge Capture is as much about the skillsets required to perform knowledge capture as it is about following the process
- Transforming knowledge into various mediums for dissemination to an organizations’ workforce, partners, distribution channels, and supply chain is critical to enabling on-demand access to valuable information in the format it is required.
- Organizations cannot manage knowledge that hasn’t been captured
- Cultivating cultures of learning, and implementing continuous knowledge capture practices, contributes significantly to an organizations’ ability to capture and retain vital organizational knowledge.
- Knowledge that is current today can be obsolete tomorrow!
Related articles: What is Knowledge Capture? and Knowledge Capture: A Tangible Asset for Organizational Survival
Our proven systems have improved workforces across the globe. Find out our secrets in this on-demand video, 6 Stages of Knowledge Capture. Sign up below.
Topics: Knowledge Capture
Process management of any scale, requires a certain level of consistent competency in order to maintain standard performance and productivity levels. Variances in competencies can have a dynamic effect on the performance ratio and productivity levels eventually causing a ripple effect in the overall process. Elimination of these variances by using tailored, structured and specifically designed courseware to maintain competencies has multiple benefits beyond a simple rate of return.
Topics: Custom Courseware
Knowledge capture helps with the development of learning strategies to identify the knowledge, skills and attitudes learners need to obtain to perform their job tasks well and safely.
Topics: Knowledge Capture
What’s the most valuable asset of any organization? It is an organization’s human resources! What is an age-old approach to managing investments? Buy low and sell high! It’s interesting that in challenging market conditions most organizations cut their workforce, their most valuable asset, which works out to the opposite, buy high and sell low, go figure!
When market conditions change such as the current supply and demand for crude oil, the typical response to the resulting price woes is to cut costs by reducing workforces. Every time an organization disengages with a good employee, they are losing the investment they have made and any future return on the investment that they could realize by remaining engaged with the employee. Exacerbating the situation is the loss of knowledge and skills the employee takes with them when they leave. It’s a conundrum why workforce reduction is the first act of responding to challenging market conditions.
As we enter 2015, it has become a tough time for companies in the oil & gas industry. With the price of WTI and Brent crude now less than $50, some producers are finding they cannot make a profit. What’s driving the price of crude down? OPEC recently made a decision to not cut production as they have often done in the past. Instead they are continuing with their production levels to ensure the glut of oil in the world which in turn drives down prices. OPEC can afford to do this as their cost of production is far less than North American producers. By continuing their high production levels in the Middle East they appear to be pushing higher cost producers and speculators out of the business. However, it is almost a certainty that when it suits OPEC, it’ll turn the spigots down and as demand exceeds supply, the price of crude will rise again.
There have been numerous articles written about North American oil and gas producers and what their breakeven point is. And certainly producers do not have the same costs because each producer’s methods of exploration, extraction and processing can be a bit different. The differences in methodologies are very important. There will always be a leveling of the playing field and in times like these, those companies with low efficiencies and thus higher cost levels will be forced to make a decision, to either keep producing at low profit margins or for some, a loss, or to scale back or maybe even shut down!