Information versus Knowledge

 

When you Google a topic, what do you do?

 My usual process goes something like this: 

  • I look at the first entry in the middle of the page and if it looks like a Sponsored Link; I dismiss it
  • Then I look at the highlighted entries on the next two or three and if they look appropriate; then I look at the first two lines of text that attempts to give you a “feel” for the contents of the entry
  • Then I click on the link that looks most appropriate to me and if the first sentence or photo and caption do not grab my attention; I move on

 I submit to you that is what most of us do.  The question is; “Are we looking for information or knowledge”?

 By conducting these types of searches many times during the day, we are obtaining a great deal of information but very little knowledge.  In order to actually gain knowledge; more effort on our part will be required.

Knowledge requires us to dig deeper and look for more description, analysis, examples, and case histories and to invest in more comprehensive thought than the mere search for information. 

An example of this differential would go something like this: 

  • You are looking for a type of threaded fastener
  • You Google “Threaded Fasteners”
  • You find a site that looks like what you want
  • If that site has one the size that you need you stop your search

 That process has yielded information. 

However, later you find that the fastener was not the best type of metal that could have been chosen.  It did not have the best thread count for the type of substrate in which it was to be mounted; the head of the fastener was too large for the space, etc. 

It turns out that in order to obtain knowledge; you would have had to read much deeper into the website, or asked someone in your company with more experience than you about their recommendation for the application, or read some reviews about the fastener type, etc. 

Primarily because of the Internet; the wealth of information available to us is almost infinite.  But we should not confuse information for knowledge.  Knowledge is what is required to do our best work and we should be willing to work for knowledge. 

Tool for the Week – For those of you who use www.Linkedin.com; you may want to utilize their “Add Sections” feature.  It allows you to add a Slide Show, Blog, Google Presentation and many other additional features to your Profile Page. 

That is it for this week.  Please add your comments and experiences for the benefit of our group.

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It is a New Year. What Can We Expect?

It is a New Year.  What can we expect?

CHANGE!

The best methodology for running a business is to:  expect change, seek new things, and plan on replacing what is currently working before someone else does it.

I will give you an example of change.  I would bet that as recently as six months ago, no one would have bet that another website could possibly have more visits than Google.  Google was everywhere, doing everything.  In fact “Google” had become a verb as well as a noun.  How many times have you said, “well, just Google it?”

As it happens, Google was no longer the most visited website in 2010.  According to Alexia Tsotsis of Tech Crunch, Facebook was the top visited website in 2010, taking up 8.93% of site visits between January and November 2010.  Google came in second at 7.19.

If Google can fall from grace and Facebook overtake it, then any of our businesses, as well as our competitors, can rise or fall from our current position.

I have been studying a challenging book recently.  It is Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne.  Their subtitle is  How to Create Uncontested Market Space and Make the Competition Irrelevant.  All of us would like to embrace and implement the subtitle in all of our businesses.

How?

The authors make a compelling argument for the necessity of accomplishing their subtitle in order to keep each of our businesses vibrant.  The central idea of the book is to do something different, that others are not offering, so that you can bask in the glow of lower competition and more profits.  Their book, and at least a thousand others, offers this insightful advice.

The difference in their book from others is that they offer many work-book like charts and graphs that guide you through the process of thoughtfully crafting a “Blue Ocean Strategy” that will lead you away from excessive competition into the blue waters of higher profits.

For example, they offer the following chart to help you create a Blue Ocean Strategy:

Eliminate

Raise

Which factors can you eliminate that your industry has long competed on? 

List those here …

Which factors should be raised well above the industry’s standard? 

List those here …

Reduce

Create

Which factors should be reduced well below the industry’s standard? 

List those here …

Which factors should be created that the industry has never offered? 

List those here …

 If you could create a product or service for your industry that meets all of these criteria, there is a good chance it would be a blockbuster idea.  This example only scratches the surface on the tools available in the book to help you create and implement your own Blue Ocean Strategy, but I think you get the idea.

 The only constant is the state of change.  You will either have to create the changes you want for you business or be very good at adapting to the changes created by others.  I suggest that to create the changes you want yourself is much more fulfilling, predictable, and profitable.

 Tool of the Week, Day, etc. – The following link will take you to a website devoted to the book, Blue Ocean Strategy.  It contains many useful tools and content about the book. 

That is it for today.  Post your comments on the Blog and let us stimulate the discussion.  www.blueoceanstrategy.com.

Thanks, 

Ted S. Miller

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