The paper 'Knowledge-Based Asset Management at WaveRider Company" is a great example of a management case study. Asset management is a vital aspect as far as running a company is concerned. This is because the success of a company will be determined on how well the assets are managed. Great returns are always achieved when the assets are well managed by an organization (Haslam, 2011). However, the management of assets requires a lot of commitment and cooperation among all the members of the management team. This is considering that assets are distributed in various departments under different managers.
The management techniques only are not enough to manage assets successfully. Knowledge management must be incorporated in the asset management so as to yield good results. Knowledge management always involves a lot of strategies that ensure the success of asset management as well as good returns for the organization. WaveRider is a company that has a lot of potential in the market. However, the crisis in the company is as a result of asset management. The senior management staff lacks knowledge management skill that can be applied in the asset management to yield good results.
The report discusses how knowledge management can be applied in facility management, which is an important aspect of asset management of WaveRider Company. 2.0 The Situation at WaveRider The situation at WaveRider is mainly due to the lack of knowledge Management skills by the managerial staff. This has resulted to blame games that are not yielding any solutions for the company. Although the company is making profits it is still facing challenges that may threaten its operations. Competition is increasing and the company does not have a mechanism for implementing changes to beat the competitors.
This greatly affects the market of the company. The company lacks a facility manager who would have played a useful role in dealing with emergencies and fleet management. The information system for the company is also very poor and it makes it difficult for the managers in the company to coordinate their activities. As a result, the company has ended up with old items in the store and the production team producing more than is required by the company.
The system used to capture knowledge is also missing in the company thus making it difficult for the company to make informed decisions. The aims of the company to enhance the working environment and to win a good reputation from the local community is thus at stake.
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