The Modern economy is increasingly being based on the knowledge worker. The survival of the individual depends on their effectiveness.
“Knowledge work is defined by its results”
The Essential Drucker
Peter Drucker
Knowledge work
To begin, knowledge work requires a good deal of formal education and the ability to acquire and apply theoretical and analytical knowledge. It requires a different approach to work and a different mindset. Most importantly is requires a habit of continual learning. Examples of Knowledge-based workers include Accountants, Economists, Statisticians, Planners, Human resources, and Marketers.
Knowledge work is not defined by quantity. Neither is knowledge work defined by its costs. Knowledge work is defined by its results. You have to focus on contributing to the results.
Managing Time
Secondly, “Know thyself”, the old prescription for wisdom, is almost impossibly difficult for mortal men. But everyone can follow the injunction “Know thy time”. The person who chooses to do so will be well on their way toward contribution and effectiveness.
Customer
Moreover, there is only one valid definition of business purpose: to create a customer. The consumer is, the ultimate user of a product or a service-is always a customer. But there is never the customer. Because its purpose is to create a customer, the business enterprise has two and only these two basic functions: marketing and innovation.
Management
In addition, Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant. The starting point of management is what customers consider as value. The objectives of the company should be clearly stated.
Innovation
Managers must convert society’s needs into opportunities for a profitable business. The ability not to innovate is the single largest reason for the decline of existing organizations. The ability not to know how to manage is the single largest reason for the failure of new ventures.
Resources
Finally, Capital is only one key resource of the organization, and it is by no means the scarcest one. The scarcest resources in any organization are performing people.
A well-managed factory is boring. Nothing exciting happens in it because the crises have been anticipated and have been converted into a routine.
My Take
To wrap up, the knowledge worker must become effective to survive in a knowledge economy. The individual is being assessed on results not how long they have spent on a project. You must develop skills that enable you to work effectively. These include the ability to learn quickly and scheduling every minute of your day.
Practical Insights
- Focus on improving your strengths
- Create a time log and record how you spend your time
