Waveriders asset and knowledge management Meeting the European Excellence Model criteria

1. Waveriders asset and knowledge management Meeting the European Excellence Model criteria Team B2: James, Lydia, Nadia, Nazish, Sabrina, Zain

2. Agenda • Introduction to Knowledge and Asset management. • Development of Knowledge management plan. • EFQM Knowledge management criteria. • Implementation framework. • Proposal plan for improvements. • Development of Asset management plan. • EFQM Asset management criteria. • Proposal plan for future improvements.

3. An introduction to Knowledge and ASSET MANAGEMENT

4. Knowledge managementPractice of collecting, managing, sharing and updating the knowledge resources of an organization. • Types of Knowledge Explicit knowledge • organizational memory • Is available for employees Tacit Knowledge • Is personal knowledge possessed by an employee (Nonaka, 1989) Source: IBM's T.J. Watson Research Center website • BENEFITS • Successful leaders • A common sense of purpose • Constant change • Engaged and motivated stakeholders • An upward flow of ideas • Efficient data use • Effective operation • Pride and the desire driving improvement • Minimal fire-fighting / recurring problems • Innovation • Excellent results, including good financial performance

5. Asset managementContents: Facilities, Health and Safety, Security, Environmental, Life-cycle management, Maintenance, Resource utilization • Operating a group of assets over the whole technical life-cycle guaranteeing a suitable return and ensuring defined service and security standards (Schneider et al, 2006). Benefits • Focus on the triple bottom line – Economic, Environmental & societal. • Advance of technology & design. • Growth in market share. • Regulations and the law. • To remain competitive. • Higher customer expectations

6. Developing Waveriders knowledge management plan

7. Knowledge in excellent organizations • A strategy for knowledge management which satisfies the overall strategy of the company. • Accurate & sufficient information for leaders for effective decision making. • Effective sharing of knowledge. • People have access to information and knowledge. • Opportunities for innovation. Reference: EFQM Excellence model 2010 (4e)

8. Implementation framework Analyze the existing infrastructure Align knowledge management and business strategy Design knowledge management infrastructure Audit existing knowledge assets and system Design the knowledge management team Create the knowledge management blueprint Develop the knowledge management system Deploy using the result driven incremental methodology Manage change and culture Source: Tiwana, A. (2000). Evaluate performance and incrementally refine the KMS

9. Analysis of Waveriders existing KM infrastructure • People: • No knowledge culture • Departmental barriers • No training program • IT: • No knowledge repository • No intranet • Processes: • No documentation of the processes • External: • No customer feedback • Limited information about competitors • Lack of information about potential suppliers

10. Alignment of knowledge management with business strategy • Strategy of Waveriders: • Increase market share in Europe • Effective management of information about the new market • Improvement in the knowledge culture • Training of new people • Improvements in IT • Cultural changes

11. Improvements in Waveriders knowledge management People: • Breaking down barriers through investing on people with effective learning system • Involvement and commitment from top level managers • Create knowledge culture through effective communication • Improve the existing environment through employee feedback and lesson learned IT: • Intranet , forum for employees • Website-newsletters, blogs for external users and customers • Software updates, central system with data/information • CRM system enter External (companies, suppliers, customers): • Further research for competitors • Customer feedback • Research for better suppliers Processes: • Working Manual • SOP (standardization of operations)of processes.

12. Satisfaction of EFQM criteria

13. Implementation framework Analyze the existing infrastructure Align knowledge management and business strategy Design knowledge management infrastructure Audit existing knowledge assets and system Design the knowledge management team Create the knowledge management blueprint Develop the knowledge management system Next steps Deploy using the result driven incremental methodology Manage change and culture Source: Tiwana, A. (2000). Evaluate performance and incrementally refine the KMS

14. Waveriders Plan for Asset management

15. AM Design Phase Design the AM programme Align vision and strategy to AM Programme or vice versa Business case and Gap Analysis Educate executives and employees on AM best practice concepts Source: R. Lutchman (2006)

16. Assessment PhaseA facilitated exploration of the current state by recognising the present state of the business.

17. Assessment PhaseHere, the assumptions on the current state of WaveRiders are presented based on the three criteria for success.

18. AM Strategy DevelopmentSeeks to build a guiding coalition, through alignment, development of a vision and mission for asset management and a mandate for change. • Research Europeanmarket pricing structure, discounts, distribution, competition, product and safety specifications etc. Identify a distributor who could take on the European sales and handle any future expansion of the market. Need new computerised finance package for Euros and to reduce Finance workload (estimated cost £25,000) • Identify successful Europeanpromotionalcampaigns and put together a winning promotions strategy. Increase marketing spend to £250k. • Increaseprice of both products by approximately 2.5% (in line with inflation). • Reorganize the Leisuresalesteam to three external sales representatives and three internal sales people to handle client follow-up by taking on two new salespeople and take on a European sales representative in the Rescue/Military sales team. • Continue to investin new technology costing an estimated £150k on capital expenditure. • Reorganize Finance and HR departments by moving wages and salaries manager into the Finance department. Reduce the remaining clerical staff in HR to a total of one. • Strategy of Waveriders: • Increase market share in Europe • Effective management of assets. • Reorganization of departments. • Investment in people • Technological improvements. • Cultural changes

19. AM Strategy DevelopmentSeeks to build a guiding coalition, through alignment, development of a vision and mission for asset management and a mandate for change. Training programmes for all staff will be implemented for each asset category. • All these change strategies are aligned to the WaveRiders strategic objectives: • Expansion in Europe, Technological Investments, Organisational restructure and Cultural change

20. Designing the AM Programme • Workshops required to develop: References: R. Lutchman 2006

21. Assets in excellent organizations • Develop & implement a strategy  supports management of assets(buildings, equipment and materials to be managed) & organization’s overall strategy. • Tangible assets (including buildings, equipment and materials) and their lifecycle & security management  to be optimized & lifecycle and security to be managed effectively. • Organization’s impact on public health, safety and the environment  to be managed actively. • Organization’s effects on the community and employees  to be measured and managed efficiently. • Adopt and implement appropriate policies (meeting & exceeding legal standards)  environmental impact (local and global) of products, production, processes and services to be minimized . EFQM Excellence model 2010

22. Satisfaction of EFQM criteria

23. AM Implementation Phase STRATEGY Continuous Improvement Implementation, support and benefits tracking Source: R. Lutchman (2006)

24. Conclusion • Assets and Knowledge are important elements within EFQM Excellence model. • Assets and Knowledge contribute to the execution of Waveriders overall strategy. • The solutions that proposed would lead to Sustainable developments in Waveriders. Waveriders have a lot of opportunities for further improvements which would create a strong and dynamic organisation.

25. Together we can do it! Source: i-stockphoto website (2011) http://www.istockphoto.com

26. References (1/2) • EFQM (2010) “EFQM Excellence model” Brussels: EFQM. • IBM's T.J. Watson Research Center website. Executive Summary Knowledge Socialization. Retrieved April 6, 2011 from the web site: http://www.research.ibm.com/knowsoc/project_summary.html • KBAM (2011) Knowledge Based Asset Management Notes UK: WMG. Source: http://www2.warwick.ac.uk/fac/sci/wmg/ftmsc/modules/modulelist/kbam/ Last Accessed: 06/04/2011, Last Updated: 07/02/2011. • LE (2011) Leadership and Excellence Notes. UK: WMG Source: http://www2.warwick.ac.uk/fac/sci/wmg/ftmsc/modules/modulelist/le/ Last Accessed: 06/04/2011, Last Updated: 07/02/2011. • Lutchman, R., (2006) “Sustainable asset management: Linking assets, people and processes fro results” USA: DEStech Publications. • Muniz, J., Dias, E. D., & Loureiro, G. (2010). Knowledge-based integrated production management model [Electronic version]. Journal of knowledge management, 14(6), p. 868-871.

27. References (2/2) • Ray, L. (2008). Requirement for knowledge management: business drivng information technology [Electronic version]. Journal of knowledge management, 12(3), p. 156-168. • Saint-Germain R.,  (2005). Information Security Management Best Practice Based on ISO/IEC 17799. Information Management Journal, 39(4), 60-62,64-66. • Schneider , J., Gaul, A., Neumann, C., Hografer , J., Wellßow , W., Schwan, M.,Schnettler, A. (2006). Asset Management Techniques. ScienceDirect, 643-654. • Tiwana, A. (2000). The knowledge management toolkit:practical techniques for building a knowledge management system. Prentice Hall: USA.  • Xu, J., Houssin, R., Caillaud, E. & Gardoni, M. (2010). Macro process of knowledge management for continuous innovation [Electronic version]. Journal of knowledge management, 14(4), p. 573-591.