General Knowledge Links To Resources example essay topic

One of the Lei per things that managers must have is general knowledge. Why is this important? Explain your answer in the context of the GM of the Rococo Hotel. According to Gerry Johnson and Kevan Scholes (2002, p. 150) knowledge is defined as "awareness, consciousness or familiarity gained by experience or learning". Knowledge is important to every company or organization and it enormously influences the individual organization's capability. Possessing general knowledge means managers are aware of the different areas of their company and know how to cope with financial, organizational, technical issues and how to use information and human resources properly.

One of the most important abilities a manager must have is the knowledge of the company's customers. In case of the Rococo Hotel that means the knowledge of their existing customers' needs and requirements, things they especially value and means that contribute to their satisfaction. Business travelers are not content with the hotel because of limited meeting facilities sand the absence of a business centre. The knowledge of these issues may help the management department to do anything against these facts. Moreover general knowledge links to resources too. Some of them are necessary to satisfy customers' requirements.

For example, acquiring or developing proper hardware or software for information systems infrastructure or using the internet for marketing purposes, reservations and market research is an indispensable requirement. Furthermore general knowledge includes organizational skills, which means for instance recruiting and retaining employees, and the ability to work boundless and virtually as well as to deal with customer enquiries and complaints. Rococo's managers must have knowledge of their environment and have to be aware of possible influences on organizational structure and strategies. Changes in the political and economical environment may have a strong impact on the hotel's future. In addition to that it is necessary to know ones competitors and take into account their strategies and existing resources. The likely entry of new hotels might weaken the Rococo's overall situation.

General knowledge includes understanding different market segments and means to attract new customers. Moreover knowing and taking into account history and previous mistakes are very important in order to avoid repeating past management failures. To summarize this aspect it might be stated that the most important prerequisite managers should have is a detailed knowledge of all areas and departments of the Rococo Hotel which includes resources, core competences, financial aspects, staff consideration, customers' needs, possible strategic changes as well as market information. Moreover cultural aspects such as determining organizational, national and regional cultures must be considered. Managers must endue excellent communicating and leadership skills. As Hitt, Ireland and Hokisson (2003, p. 16) asserted, "knowledge (such as intelligence, and expertise) is the basis of technology and its application".

General knowledge is becoming more and more a critical and essential organizational resource and it is increasingly a valuable source of competitive advantage. Reference list Johnson, G. and Scholes, K. 2002, Exploring Corporate Strategy, 6th edn, Prentice Hall Europe Hitt, M., Ireland, R. and Hokisson, R. 2003, Strategic Management: Competitiveness and Globalisation, 5th edn, Cincinnati, Ohio.