Coatings World - November 2012

Knowledge is more than knowing something technological or scientific. Knowledge must have wisdom elements attached to it. Wisdom is a deep understanding and realization of people, things, events or situations, resulting in the ability to apply perceptions, judgments and actions in keeping with this understanding Wisdom comes with age and experience. Making accurate decisions is the most important task of a manager. Managing knowledge and making accurate decisions are interconnected since they influence one another.

Stage Gate methods are well-known and practiced widely by all types of businesses. However, at every progressive Stage, this system is seeking greater data accuracy

Making accurate decisions is
undoubtedly the most impor-
tant task of a manager. None
of us can make responsible de-
cisions until and unless we pos-
sess
enough
knowledge.

Managing knowledge and
making accurate decisions are
interconnected since they in-
fluence one another.

both from target markets and from its own internal operations in an attempt to assure that the market targeted is“real”, and receptive as well as whether its own organization can deliver the exact product and service required. Stage Gate does not produce wisdom, however . . . . it produces data, information and knowledge which, if assessed correctly, evolves into a level of wisdom.

One of the key elements in eventual successful wisdom achievement is an organization’s ability to innovate whether the innovation is a product or service. Accurately measuring your company’s innovation quotient provides a base from which you can reduce product and service mediocrity while gaining an improved perspective on your company’s offering assets versus the market targets you covet. CW

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