Principles of Marketing Essay Example | Topics and Well Written Essays - 750 words

Principles of Marketing - Essay Example The main reason behind market segmentation is to help a company understand the needs of a particular segment (Beane & Ennis, 1997, p. 31). Mass marketing mainly assumes that all customers have the same interests and consumption behaviour. Segmenting the market can also serve in identifying smaller groups of consumers who make their own subsets an aspect that improve the overall efficiency of the company’s marketing efforts (Dibb, Simpkin, Pride & Ferrell, 2001). Market segmentation enables the marketer to compare different marketing opportunities of different marketing segments through studying consumer needs and potential, their level of satisfaction etc. This helps the company in coming up with appropriate strategies to satisfy the needs of these different segments. There are different forms of segmentation. These include geographical segmentation, demographic segmentation, psychographic segmentation and behavioural segmentation. Geographical segmentation This is segmenting the market based on the location of the customers. Demand of goods can vary according to geographic location of the customers. Geographical segmentation therefore, focuses on prospective markets’ location and different attributes that are associated with each location. The marketer can therefore, focus on either a single location or many depending on the varying requirements of each region and the cost of serving these locations. Demographic segmentation This is division of the market according to demographic variables such as age, gender, individual occupation, education or even family size. The marketer uses these variables in making decisions and identifying the target market. In an example, a company may decide to segment the market according to age of the people. As a result, it can develop different products that meet different requirements of customers that belong to various age groups (Hunt and Arnett, 2004, p.23). Psychographic and behavioural segmentation Psychograp hic segmentation divides the market into different segments which have similar lifestyles. Lifestyle is an individual mode of living and mainly describes how a person conducts his/her daily activities. On the other hand, behavioural segmentation divides the market according to behavioural characteristics of the customers. Different customers have different behaviours which are used by a marketer to market the produce (Kotler & Armstrong, 2011). Market targeting Marketing targeting is a process of identifying different groups of consumers that exist in a market who are likely to purchase a certain good or service. Target marketing makes it easier to price, promote and distribute the product or service at a cost that is effective. When targeting the market, a marketer should ensure that the firm has adequate resources to meet the requirement of the target market. Targeting plays an important role of reducing market ambiguity as marketers are able to have an in-depth knowledge concerni ng the target consumers. There are different forms of targeting. One of the methods is referred to as broad or undifferentiated targeting. The concept that underlies this method is that a product or service has a broad appeal to all customers irrespective of their age, gender and location. Second method is referred to as selective or differentiated method. With this

Starbucks Coffee Company Essay Example for Free

Starbucks Coffee Company Essay Executive Summary 1. Starbucks product isn’t only about the goods it provides, but the services and the experience of going to a starbucks as well. 2. Starbucks has two main end user groups, to which Starbucks product has many different aspects that are beneficial to them. 3. SWOT internal analysis reveals strengths of brand image and high standards and weaknesses in over saturation and lack of diversity. Externally, Starbucks has opportunity to expand and diversify to avoid threatening competition and reliance on individual products. 4. Porter’s Five Forces analysis displays threats from high consumer and supplier bargaining power, a large amount of substitutes and a low chance of new competitors although high competition with current competitors. 5. Historically, Starbucks has employed saturation and awareness strategies. 6. Current strategies reflect environmental analysis as Starbucks aims to expand and diversify, as well as raise social awareness and accountability. 7. Starbucks’ competitive advantage draws from its strategies of differentiation, technological advancement and unique atmosphere. Product Description Benefits. Starbucks is an internationally renowned brand, with 20,891 stores in 64 countries. The Starbucks product is not just a range of beverages and food; it is the service, the culture and atmosphere and the sustainability that can be expected in all of its stores. Starbucks represents this in their mission statement: to inspire and nurture the human spirit – one person, one  cup and one neighbourhood at a time. The more obvious part of the product is the coffee as well as other drinks and food, but another significant part of Starbucks product is it’s goals in caring for its community and being an ethical and environmentally friendly corporation. Starbucks’ large market share can be accounted to specifically targeting two main end-user groups and catering the product to their needs. Customers both male and female ages 25-40 make up for a massive 49% of Starbucks total business. Judging by their age we can assume these consumers are most likely working with greater disposable income, and we can assume working people are often busy travelling and on the go. These ages are also typical of people with new families. Another target audience is young adults aged 18-24 who make up 40% of Starbucks total business. Commonly people this age are studying, travelling, and enjoy socialising and hanging out. Generally judging on the age group they will have less income and if they are students they may have no job or only have part time work. The brand image of Starbucks plays a strong part in appealing to consumers. Starbucks’ brand image symbolises wealth and status. Starbucks utilises this by targeting the working adult and creating loyalty to its brand. Starbucks also appeals to young people as they have a strong brand image of being, quite simply, cool. Through many of the benefits of Starbucks we can understand how loyalty is an important role in why it’s customers prefer it to other cafes.There are many Starbucks cafes worldwide, and wherever you are in the world you know what to expect when you walk into a Starbucks cafà ©. Starbucks has a strong sense of consistency throughout its branches, from the menu, to the service and often the appearance of the cafà ©. This makes Starbucks a welcoming and a familiar place wherever you are buying coffee.They also benefit their consumers by being so widely available making it easy to find a Starbucks. Consequently, it is beneficial to travelling and working people who can find a Starbucks in unfamiliar places, providing the coffee and service they know and enjoy. The cafà © itself is part of the service; customers have the option to sit and stay or takeaway as it suits them. The cafà © provides a  great meeting place for young adults to socialize or study and also benefits adults who need to work, meet people or get something to eat or drink during the day. There is free Wi-Fi available which is especially appealing to young people for both study and social networking as well as beneficial to older consumers with work to attend to. Starbucks meets a range of consumer needs by having a very large variety of drinks available, and customisation is a significant part of their appeal to consumers with 87,000 different drink combinations. Because they have such a large variety, they have an option for nearly anybody and this makes Starbucks more appealing over other coffee shops. Young adults have a greater partiality to customisation, as they appreciate having many choices of different flavours and combinations. Older consumers, especially those on the go, often know what they want to order (e.g. trim flat white, long black) but benefit from the consistent menu, which always has their drink available. Loyalty is gained not only from the consistency of high quality products and service to the customers but also from the way in which Starbucks values the community and environment. Howard Schultz, CEO of Starbucks Coffee summed up what makes Starbucks successful in saying â€Å"we have no patent on anything we do and anything we do can be copied by anyone else. But you cant copy the heart and the soul and the conscience of the company.† Company’s International Strategy Starbucks is clearly a leading coffee branch that has been very successful over the past 30 years, with its constantly growing market share. However, in order to further develop a company, they must first assess their internal and external environment to evaluate the organisation’s current position. Internal and external assessment provides an opportunity for an organisation to plan, implement and evaluate their operations. SWOT analysis helps to assess the company’s internal strengths and weaknesses as well as their external opportunities and threats. Starbucks’ strengths are high quality coffee beans, strong brand image, excellent employee management, power within the industry, and unique strategy. Starbucks is one of the most powerful brands in the world (ranked 54th for the world’s most powerful brands by Forbes) and is the most powerful brand in the coffee industry. This prevents new entrants from gaining market share and has helped the organisation to remain competitive. On the other hand, they have some weaknesses; one of the main weaknesses is the fact that the entire business relies on the coffee industry. If the coffee industry faces a hard time, it will have a bad influence on Starbucks directly. One of the main reasons an organisation becomes a Multinational Enterprise is to diversify themselves against the risks and uncertainties of the domestic business cycle. However, Starbucks has over-saturated the US market with more than 3 quarters of their business located in the home market. If their home market goes through a recession, this will have a huge impact on its business. Also, their relatively high coffee price increases competition with low priced brands. After assessing the company’s internal strengths and weaknesses, an organisation then evaluates its external environments. Starbucks may extend their supplier range such as developing new products, not only their coffee but products like health and organic drinks, considering there are emerging groups of people seeking well-being products. They could also expand their business to more countries especially developing countries such as China and India. Regardless of the fact that China has a strong tea culture, Starbucks has been very successful. They currently have more than 600 stores in more than 50 cities in China, yet it is only the beginning. The market share for Starbucks is still growing however, compared to past years; it is not doing so well. The main reason for this is because of the new competitors who entered the market, for example, launch of McCafe from McDonald’s. Increased competition and competitors resulted in a higher bargaining power of buyers that lowers the market price for coffee which made it even harder for a brand who sell expensive, high quality coffees, to compete in the market. Starbucks coffees’ main ingredients are coffee beans and milk. A rise of coffee bean and dairy product prices, as a result of various non-government activities, have a strong influence on the company which may result in a  significant drop in their market share. As mentioned above, Starbucks was successful in China. Though copyright law in China is vulnerable and trademark infringement is a huge problem for all companies who are operating in China. Finally, while the earnings in the US and China remains strong, the profit from the European market has fallen due to a different regional tastes and coffee culture that resulted in a just recognisable increase in total revenue. Overall, these are Starbucks’ internal and external environments assessed using SWOT analysis. Starbucks should work through their weaknesses and threats especially their decreasing customer base due to increased competitors. Also, they should create or develop their competitive advantages through their strengths and opportunities. Furthermore, another method that helps to assess for the external environment is ‘Porter’s Five Forces Analysis’. It is a strategic tool that is used to analyse the level of competition within an industry. There are five stages to assess: bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat from substitutes, and rivalry among existing competitors. The bargaining power of buyers is high due to an increasing number of influential competitors and the fact that there are no or minimal switching costs to other companies. No or minimal switching costs means a customer can switch to its competitors easily and a growing number of competitors means that there are even higher chance of a customer switching to other companies. The degree of threats of new entrants depends much on its location for example, markets such as UK and US are already highly saturated and as such there are limited chances of a company entering the market. Also, due to the substantial amount of financial resources associated with buildings and property being required to enter the market, the threat of new entrants to the industry to compete with Starbucks is low. The bargaining power of suppliers is also very high. The world demand for coffee is fierce and coffee beans are available only in certain geographical areas such as, Africa, Latin America and some parts of Asia. There are a wide range of substitute products for Starbucks or their coffee including tea, soft drinks, water, juice and energy drinks. This, combined with an increasing focus on the negative effects of caffeine from media and among consumers, increases the percentage of consumers switching to its substitute  products. Also, there are locational substitutes such as pubs and bars where groups of people can gather and spend time away from their house and work environments. Overall, due to an increased number and power of its competitors, especially, McDonald’s (McCafe), Caribou Coffee and Dunkin Donuts, as well as many others from small local coffee shops to large global brands, the rivalry among existing competitors is very high. Unlike the early 90’s where Starbucks begun to expand, there are copious numbers of influential competitors in the market all over the world resulting in very high competition within the industry. Starbucks needs to work on how to reduce the growing power of its competitors and to gain its market share in the long-term. Starbucks holds a strong competitive advantage over its rivals mainly due to its large market share and powerful brand image. Through constant innovation and expansion, Starbucks has maintained a loyal customer base and a competitive standing within the market. The company has employed strategies such as diversifying its products, attempting to gain a larger market share internationally, such as in China, developing sustainability, such as the use of reusable cups and adapting to new methods of marketing, including social media. Starbucks has also come under scrutiny for some of its marketing techniques which include saturating the market and intentionally placing pressure on competition. Due to its early entry to the market, Starbucks was able to solidify its position and reputation. Starbucks originally built this reputation using strategies which were designed to make it the ‘third place’ people spend their time, along with work and home. This similar setting of comfort set Starbucks apart from its competitors and began the culture that now represents the company. Starbucks then began saturating areas within the United States, which created an awareness of the company whilst putting pressure on smaller businesses and competitors. As stated, Starbucks came under scrutiny for its practise of buying out other businesses and saturating the market, with some stores operating at a loss, in order to put competitors in an unfavourable position. The saturation of markets, originally in the US and later worldwide, has created a huge awareness and familiarity of the Starbucks brand. The company, therefore, has a very unique strategy; Starbucks spends less than 1% of its annual revenue on advertising, relying largely on word of mouth advertising. Comparing this to the fact that its competitors spend hugely on its advertising on media (Dunkin Donuts spent more than 83% of its budget on TV and McDonald’s spent 97%), this is very surprising. Starbucks also cuts back on it’s advertising costs through its increasing use of social media advertising. Keeping up with trends such as social media has allowed Starbucks to stay relevant at this lower cost. To illustrate their effectiveness in social media marketing: they are the highest downloaded food and drink app. Further technological advantages Starbucks uses are cloud controlled coffee machines and cloud integrated equipment and staff which allow quicker transfers of information and greater data gathering. This point of difference creates a competitive advantage that Starbucks uses to maintain its dominant position. Furthermore, Starbucks has begun to focus on diversifying its products with a heavier focus on substitutes and complementary goods such as tea and food. With tea becoming increasingly popular in the West, this allows Starbucks to have a lesser reliance solely upon coffee and creates another point of difference from its competitors. Similarly, Starbucks acquired La Boulange bakery in 2012 in order to increase the quality of its food offerings and again diversify its products to attract a larger customer base and decrease its reliance upon the coffee trade. The adoption of these emerging markets allow Starbucks to not only create greater offerings and secure its place within them, but also to become more competitive with rivals where they couldn’t before. An area in which Starbucks has proven to be focusing on is ethical and environmental responsibility. This reflects modern consumer interests and is of greater importance to Starbucks due to its international exposure. In 2013, a reusable cup was introduced at $1 each, while offering a discount on purchased coffee. This both increased overall revenue and created an environmentally responsible image. According to a YouGov Omnibus survey,  taken in January 2013, 28% of Americans had already bought, or planned to buy the reusable cup, showing the importance of the move. Starbucks’ focus on environmentalism reflects the companies focus on improving its image and its understanding of the consumer. In order to further this image again, Starbucks is currently switching its coffee sources to fair trade and aims to be 100% ethically sourced by 2015. As a further display of its social awareness, the company offers its employees an extensive range of benefits and a pay rate higher than its competitors, which resulted in a high employee loyalty, hence, less staff turnover and higher productivity. Finally, one of the larger challenges that Starbucks had faced was expanding internationally and catering to different tastes and cultures worldwide. The aim behind Starbucks’ expansion was to bring the Starbucks experience to the world. Currently, Starbucks is largely focused in expanding in China due to its size and relevance as an emerging world power. Here, Starbucks has an advantage of brand awareness which aids in establishing a dominant position in China, as well as other markets. Keeping up with trends in tastes and technology also helps Starbucks expand internationally; with the emergence of the tea drinking market into which Starbucks is investing and the global increase in communication which Starbucks capitalises upon with its social media and cloud based ventures. It is important for Starbucks to continue looking internationally for its business expansions due to having already saturated much of the US and therefore to reduce its dependence on the US market and its tastes. It is clear that Starbucks is able to continue to be competitive offering its premium priced coffee due to its constant innovation and understanding of its consumers. Starbucks consistently stays ahead of the competition in its technological advances, expansion, social awareness and product development which makes it recognisable and desirable and reduces said competition in the market. The environment which Starbucks presents creates a willingness in the consumer to pay premium pricing for the service as a whole rather than just a coffee. This is ultimately what has differentiated Starbucks from its competitors and allows it to maintain a strong and growing loyal customer base where customers will be less inclined to switch between  companies. The Starbucks company itself possesses several times more market share than any of its competitors and therefore have an almost monopolized status as an entity in the huge coffee industry. It is Starbucks’ large competitive advantages which allow them to hold this position. Not only that, the coffee giant has been able to sustain its presence for over forty years. This begs the question: is Starbucks able to sustain their competitive advantages in the future? Firstly, what are these competitive advantages? Starbucks puts a lot of focus, time and energy into differentiating itself from the competition. This can be seen in the design of its coffee shops around the world, the music played there and the types of products it sells, such as jazz CD’s, thermos’, key chains and coffee-brewing equipment. It is clear to see that Starbucks sets itself apart with the vivid attention to excellence. This differentiation is achieved by the fact that no matter which Starbucks coffee shop you visit the atmosphere will be the same, thus giving the company a status of independency and uniqueness; not following any preconceived ideas. This provides customers with a sense of belongingness which in turn results in sustained business success from loyalty of customers, unmatched by competitors. As our contemporary lives are heading towards a faster and more efficient fashion, Starbucks makes sure to keep current on the latest technology, often times pioneering the latest in technological and communication advancements for its business and customers, far ahead of the times for a coffee shop. This dominance in technological communication is a competitive advantage which not only allows for quick and sustained adoption, but also builds relationships with its customer base. For example, Starbucks was one of the first companies to adopt location-based promotions and mobile payments. In general, retail stores will set up shop in locations based on demographics, locations of competitors, locations of own stores, traffic  patterns and so forth. However, instead of following the rest of the sheep, Starbucks CEO Howard Schultz had a different idea. Schultz decided that his strategy focused on heavily increasing the foot traffic in one specific part of town. By clustering a specific part of town with coffee shops Starbucks quickly achieved market dominance with this competitive advantage. Starbucks boasts the highest frequency of weekly visiting customers out of any American retailer, with over 20 million weekly visitors. Even more so impressive is that the company spends less than 1% of its annual revenues on advertising, against the typical 10% rather, the Starbucks competitive advantage relies on word of mouth. They believe that by creating an intimate and welcoming environment in their stores, as well as providing a great cup of coffee, customers will not only return, but do the advertising for them. Starbuck’s, with its clear points of difference, has created a loyal customer base which is willing to continue paying premium prices for the ‘Starbucks experience’. As Starbucks’ annual revenue increases have been consistent over the past ten years (see table 1), from $3.3 billion to $13.29 in 2012, this experience seems greatly successful and as such it is hard to imagine these competitive advantage formulae and successes being unsustainable for the foreseeable future. References 3 Ways Starbucks Is Innovating and Why You Should Care. (n.d.). Retrieved May 21, 2014, from http://www.entrepreneur.com/article/229580 Business Strategies. (n.d.). Retrieved May 21, 2014, from http://thebusinesstrategy.blogspot.co.nz/2013/03/how-has-starbucks-been-so-successful.html Hennessey, R. (2012, August 06). 3 Reasons Why Starbucks Still Shines, Despite Market Shortcomings. Retrieved May 21, 2014, from http://www.forbes.com/sites/rachelhennessey/2012/08/06/3-reasons-why-starbucks-still-shines-despite-market-shortcomings/ Many innovations today are associated with companies as opposed to individuals. Why is this, and what does it tell us? (n.d.). Retrieved May 21, 2014, from http://research-methodology.net/ Mission Statement. (n.d.). Retrieved May 20, 2014, from http://www.starbucks.com/about-us/company-information/mission-statement Starbucks Competitive Analysis. (n.d.). Retrieved May 21, 2014, from http://www.slideshare.net/mspinella1016/starbucks-competitive-analysis Starb ucks Company Statistics. (n.d.). Retrieved May 20, 2014, from http://www.statisticbrain.com/starbucks-company-statistics/ Starbucks reusable cups are a hit. (n.d.). Retrieved May 21, 2014, from http://today.yougov.com/news/2013/01/08/starbucks-reusable-cups-are-hit/ Starbucks: A Model of Success | TIME.com. (n.d.). Retrieved May 21, 2014, from http://business.time.com/2013/08/27/starbucks-a-model-of-success/ Sustained Competitive Advantage of Starbucks. (n.d.). Retrieved May 21, 2014, from http://unrealist.hubpages.com/hub/Sustained-Competitive-Advantage-of-Starbucks Tice, C. (2013, January 17). How Starbucks Will Make Millions Off Its New, Reusable Cup. Retrieved May 21, 2014, from http://www.forbes.com/sites/caroltice/2013/01/17/how-starbucks-will-make-millions-off-its-new-reusable-cup/ The Worlds Most Powerful Brands. (n.d.). Retrieved May 21, 2014, from http://www.rankingthebrands.com/The-Brand-Rankings.aspx?rankingID=279nav=category A look at Starbucks’ marketing strateg y. (n.d.). Retrieved May 20, 2014, from http://www.insidebusiness360.com/index.php/a-look-at-starbucks-marketing-strategy-1425/

Armys Approach To Situational Leadership Management Essay

Armys Approach To Situational Leadership Management Essay The Armys approach to situational leadership is based on the fact that leaders must lead in all situations and ajust to environments that are always changing. In order to prepare leaders for these challenges, the Army uses the concept of situational leadership as a platform. It teaches leaders the impotance of situational leadership, team dynamics and peer leadership (Applied Team Leadership, 2009). The Army stresses that leadership is not about setting rigid, unbending expectations and dictating orders. Good leaders match a style of leadership that matches the current situation, and those that they lead. This paper examines the Armys appoaches situational leadership. It reviews the basic concept of situational leadership, looks at how the Army defines leadership and examines the different perspectives and theories the Army believes to be critical to success. The paper discusses leadership traits and behaviors, and how they are the building blocks for the Armys Leadership Requirement Model. It examines how the Army applies its leadership model using the elements of leadership, both transactional and transformational. And finally, it discusses adaptive leadership, its characteristics, and how the Army builds adaptive leaders. . Table of Contents Introductionà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..1 The Basic Concept of Situational Leadership à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.2 The Army and Leadershipà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦3 The Army Relationship Requirement Modelà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦4 Transactional Leadershipà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..5 Transformational Leadershipà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦6 Which Style is Best?à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦6 Applied Adaptive Leadershipà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..7 Conclusionà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦8 Leadership remains the most baffling of the artsà ¢Ã¢â€š ¬Ã‚ ¦as long as we do not know exactly what makes men get up out of a hole in the ground and go forward in the face of death at a word from another man, then leadership will remain one of the highest and most elusive of qualities. It will remain an art. James L Stokesbury The art of leadership the Stokesbury alludes to is a subject studied more seriously in military schools than in civilian institutions. Given the life-and-death nature of our business and the importance of the military to a nations survival, this should surprise no one. What is surprising, however, is that most professional military education schools rely almost exclusively on the civilian-orientated Hersey and Blanchard Situational Leadership model to help teach military leadership and management. (Waddell, 1994) The Army believes that leadership is a complex human behavior, and there is no one single way to view it. In order to be an effective leader, one must study more than one model or theory of leadership. This is why the military leader must make use of the studies and histories of military units and figures, and not repeat the mistakes of the past. (Yukl, 1986) While many scholars, sociologist, and historians have analyzed the methods of leadership, there remains no single way to create a great leader. Young Army leaders attending professional development programs need to understand the strengths and weaknesses of different styles and theories. Military leaders are different than leaders in other types of organizations because they are appointed and not emergent. (Yeakey, 2002,) To become truly effective leaders, the Army officer must be more than a one trick pony who can apply only one leadership model. Army leaders lead more intensively than most of their counterparts in civilian life do, in situations where the lack of effective leadership will have catastrophic results (Foundations of Leadership, 2008) The Army Leadership Requirement Model centers on what a leader is and what a leader must do. Because of the stress of combat, the military leader must build trust and confidence with subordinates. To do this, the Army has developed a standard set of attributes and core leader competencies designed to aid in development of leaders who can succeed in a wide variety of difficult situations. US Army Field Manual (FM) 22-100, Army Leadership, also added transactional and transformational leadership styles in the 1980s. Today, the manual has been updated and these two proven styles continue to assist Army leaders in shaping behavior, emotions, and the organizational climate. (Yeakey, 2002) Transformational leadership is at the core of what constitutes adaptive leadership, according to U.S. Army doctrine Field Manual (Bass, Jung, Avolio, Berson, 2003). This leadership approach allows the modern Army leader the ability to adapt to an ever changing environment. Adaptive leadership is an approach by the Army, designed to give the leader an edge in the Contemporary Operating Environment (COE). However being adaptive is more than reacting to a situation. Army leaders anticipate and employ their style of leadership based on that situation. They are able to assume risk, make well informed decisions, and adjust accordingly. The Basic Concept of Situation Leadership According to modern theories of situational leadership developed by P. Hersey, K.H. Blanchard, and D.E. Johnson in their siminal work, Management of Organizational Behavior: Leading Human Resources, there is no one best way to influence people. In Army terms, their theory holds that the leadership style you select and use will depend in the environment and the readiness or ability of the individual soldier (Applied Team Leadership, 2009). Situational leadership is based on an interplay among (1) the amount of guidance and direction (task behavior) a leader gives, (2) the amount of sociomotional support (relationship behavior) a leader provides, and (3) the performance readiness level that the followers exibit in performing a specific task, function or objective (Hersey et al., 2008) Task Behavior Is defined as the extent to which the leader engages in spelling out the duties and responsibilites of an individual or group (Hersey et al., 2008). Examples of task behavior may include developing a list of things to accomplish, establishment of priorities. It might even include following up and assessing the progress made by individuals or teams. Relationship Behavior Is defined as the extent to which the leader engages in two-way or multiway communication (Hersey et al., 2008). Relaionship behavior includes listening, teaching, or counseling. The more you adapt your behavior to the situation, the more effective your attempts to influence will be. No one style is effective in all situations. Each style is appropriate and effective depending on the situation (Hersey et al., 2008). Peoples level of readiness tends to be different, depending on their task. Readiness has nothing to do with values, life experience, or traits; it has everything to do about ones willingness and ability. Willingness is the combination of confidence, commitment, and motivation. Ability is the knowledge, experience, and demonstrated skill that the follower brings to the task and is based on an actual display of abilities. Leaders should not select a leadership style by assuming that the follower should know (Yeakey, 2002). The Army and Leadership An Army leader is anyone who by virtue of assumed role or assigned responsibility inspires and influences people to accomplish organizational goals. Army leaders motivate people both inside andoutside the chain of command to pursue actions, focus thinking, and shape decisions for the greater good of the organization. (FM 6-22, Army Leadership, 2006) For decades, scholars, business leaders, and organizational researchers have continually refined the definition of leadership-based on their findings and expereince, and the latest real-world models and situations. The variety of their theories about leadership stems from leaderships multidimesional nature (Foundations of Leadership, 2008). The Army is always looking for ways to improve itself. Weather developing new tactics for fighting the war on terrorism, or improving its ability to provide care for wounded warriors, improving the force is always at the forfront of the Army. This goal to improve can also be seen in Army leadership. Greater efficiency and effectivness in its leaders led the Army to reevaluate its application of leadership principles. The Army drew on several leadership theories from business and academia to develop its own leadership frame work and definition of of what leadership entails (Foundations of Leadership, 2008). By examining different perspectives and theories, Army leaders are better equiped to deal with the complex nature of leadership in the contemporary operating environment. The Army Leadership Requirement Model The Army devotes significant resources to studying and promoting in-depth discussionof many leadership theories. Its aim is to help develop leaders who can succeed in a wide variety of challenging situations (Foundations of Leadership, 2008). The requirement models basic componets center on what a leader is (attributes BE and KNOW) and what a leader does (competencies DO). An Army leaders character, presence, and intellect enable them to master the core competencies through didicated lifelong learning. The balanced application of the critical leadership requirement model empowers the leader to build high performing and cohesive organizations. It also creates positive organizational climates, allowing for individuals and team learning, and empathy for all. Three major factors determine character: values, empathy, and Warrior Ethos. Some charactoristics are present at the beginning of a leaders career, while others are developed over time. Physical presence determines how others others perceive you. The factors of physcial presence are bearing, phyical fitness, and resilience. Intellectual capacity helps to conceptualize solutions and aquire knowledge to do the job. A leaders conceptual abilities apply agility, judgment, innovation, interpersonal tact, and domain knowledge. Domain knowledge encompasses tactical and technical knowledge as well as cultural awareness. Leader competencies develop from baleanced combination on institutional schooling, self development, realistic training, and professional experience. Building competence follows a systematic and gradual approach, from mastering individual competencies, to applying them in concert and tailoring them to the situation at hand. Leading people by giving them a complex task helps develop the confidence and will take on progressively more difficult challenges. Competencies provide a clear and concise way of conveying expectations for Army leaders. Current and future leaders want to know what to do to succeed in their leadership responsibilities. The core leader competencies apply across all levels of the organization, across leader positions, and throughout careers. Competencies are demonstrated through behaviors that can be readily observed and assessed by a spectrum of leaders and followers: superiors, subordinates, peers and mentors. This makes for a good basis for leader development and focused multi-source assessment and feedback. Transactual Leadership Transactual leadership is based on a transaction or exchange of something of value the leader possess or controls that the follower wants in return for his/her services (Homrig, 2001). The transactual relationship between leader and follower follows an approach where there is either a reward or incentive for achievement; the leader uses punishment or corrective action as a response to unacceptable performance; or the leader actively monitors the progress of work, and uses corrective action to ensure the desired standard is met. While the transactual style of leadership may not be the most popular, or prefered method, it cannot be denied that it produces results. Young recruits who entry the Army live under the transactual style of leadership. These young men and women are placed in a environment designed to break undesirable habits, and build new ones. In order to motivate, and build cohesive teams out of individuals, Drill sergeants who have very limited time, follow the transactual style of leadership using rewards, or punishment to meet acceptable standards. Army leaders often times, because of their situation use the tranactional style of leadership. This is usually only for short periods of time where there is no time to react to other than a direct approach. Examples of these types of situations may include safety situations, or when a unit comes under direct fire from the enemy. Choosing to use transactual leadership involves more than the readiness level of subordinates. The style will change as the situation changes. The goal of the Army leadership today is to create bonds between soldiers with stregnth to motivate even when the leader is not present. To build the kind of lasting bonds that enhance unit cohesion, moral, and performance, Army leaders must look to a higher order of leadership: transformational leadership (Foundations of Leadership, 2008) Transformational Leadership With the introduction of transformational leadership theory into the literature, greater attention has now been paid to understanding how certain leaders are better equipped to elevate a followers motivation and performance to the high levels of accomplishment (Bass, 1985). Tranformational leadership is based on the assumption that people will follow a leader who inspires or motivates them. This method to motivate and inspire is often used to develop a compelling vision by selling it and focusing on developing relationships with followers as a teacher, mentor, and coach might. The transformatioanl leader thus spends a great deal of time building trust and demonstrates a high level of personal integrety to engage his/her followers. His or her ultimate goal is to transform followers while achieving results. In military engagements, leadership, moral, cohesion, and commitment have long been identified as critical ingredients to unit performance (Bass, 1998) Military units demonstrating a high level of esprit de corps and moral have frequently produced the best results (Shamir, Zakay, Breinen, Popper, 1998). Transformational leaders have developed a set of internal values. They have gained a high level of commitment that transends down to their followers. Transformational leaders have the ability to to operate in a manner that best fits the situation. The military professional must weigh the pros an cons of these leader/follower relionships to judge which is best when. This is by no means an easy task and usually results in a great deal of thought, for being a leader is work (Homrig, 2001). Which Style is Best? Each style has its advantages and its limitations. The Army teaches that when choosing an appropraite style, one must consider the amount of time available to accomplish the objective, your abilities and those of the subordinates, and the current situation. Bernard Bass, co-author of Adding to contingent-reward behavior: The augmenting effect of charismatic leadership says The best leadership is both transformational and transactional. Transformational leadership augments the effectiveness of transactional leadership; it does not replace transactional leadership (Waltman, Bass, Yammarino, 1990). People in general look to leaders for guidance and direction; however they want to be encouraged to to negotiate challenges. The successful leader will inspire and motivate groups or teams in the organization to create synergy among them to tackle that challenging situation or obstacle. Transformational leaders will ultimatly build long term pride, competence, and commitment within the organization that goes beyond what can be achieved by using transactual leadership. Transformational leadership is at the core of what constitutes adaptive leadership, according to U.S. Army doctrine Field Manual 22-100 (Bass et al., 2003). Applied Adaptive Leadership Dr. Leonard Wong, a twenty year Army veteran, and author of Developing Adaptive Leaders: The Crucible Experience of Operation Iraqi Freedom, cites leadership researcher Warren Bennis, who defines adaptive leadership: The critical quality of a leader that determines how a leader will fare in a crucible experience is adaptive capacity. Adaptive capacity allows leaders to respond quickly and intelligently to constant change. It is the ability to identify and sieze opportunities. It allows leaders to act and then evaluate results instead of attempting to collect and analyze all the data before acting (Wong, 2004) According to Wong, adaptive leaders need to be mentally flexable and agile. They must possess strong conceptual and technical skills. Adaptive leaders are strong under pressure, and can operate will little or no supervision. Flexible, adaptive leadership is important for leaders to adapt to different situations. Hersey Blanchard point out that more delegation and less monitoring is needed for subordinates who are confident and competent than ones who are not. Change is the only constant. Adaptive leaders know the strengths of self and subordinates, understand the mission, and can quickly diagnose the situation. They manage and adapt while leading and motivating the team. There are no leader institutions within the Army that guarantee leaders become adaptive. The charactoristics of adaptive leadership indicate that training and eduacation are the foundation. The ability to critically think, recognize situations, adapt, and act, requires time and effort. The Army believes that you can learn to be an adaptive leader. As leaders experience different challenging situations, they develop new skills needed to move on to new levels of achievment. According to Wong, adaptive Army leaders competently deal with three aspects of the contemporary operational environement: ambiguity, complexity, and change (Wong, 2004). Ambiguity Army leaders are taught the importance to completely understanding the senior officiers intent. Leaders deal with unpredictabiltiy on a day to day basis, and while the planning is critical to mission accomplisment, do not become consumed with the plan. Leaders need consider the overall intent, and build plan that work for the team. Complexity Adaptive leaders must learn to deal with complexity. Wong interviewed one yooung officer in Iraq, I cant tell you what Im doing tomorrow. I can tell you what Im suppose to be doing tomorrow. Things change so frequently, and you just expect that. You know that every day you live a day at a time. Things you plan change, based on intel reports, based on different changes in the mission. Change This is the only constant. The adaptive leader must anticipate and master transitions. Changing conditions can change the priorities of the mision, and provide new challenges. Leaders need to find a balance, adapt to the situation, and execute while motivating and inspriring the team. Conclusion James Stokes describes leadership as an art. The United States Army agrees, and therfore embrased the widely popular situational leadership as the foundation for its leadership training model. It shows Army leaders that theres no one best way to influence people, and that only through the study of different theories, styles and behaviors, will you master that art. The Army, through its leadership requirement model, has developed a framework that I believe is useful in assisting young leaders with their leadership. Adaptive leadership is critical for Army leaders as they operate on todays modern technically advanced battlefield. Because of the complexity of and ambiguity of the environement that they face, flexible leadership is required more than ever.

A Clean, Well-Lighted Place Essay -- Literary Analysis

Ernest Hemingway developed his own style of writing and follows it in â€Å"A Clean, Well-Lighted Place†. Hemingway’s elegance in writing is such that he indirectly gives all of the information to the reader without making any judgment; thus allowing one to create an opinion about every minute detail of the story. Hemingway illustrates his foundations of writing in â€Å"A Clean, Well-Lighted Place† by providing small clues that provide an indirect view of the larger meaning. Hemingway illustrates one of his elements of writing, omission, by providing two waiters and their exchange of speech and actions with each other and their customer, the old man. By doing so, he provides all of the information for readers to create an assumption about the individual’s traits; the saintly and even wicked. In the story we are given a scene with the old drunken man and the younger waiter. The old man asks for another brandy while pointing to his empty glass. The younger of the two waiters brashly began his dialogue with â€Å"Finished,† he said, speaking with that omission of syntax stupid people employ when talking to drunken people or foreigners. â€Å"No more tonight. Close now.† â€Å"Another,† said the old man. â€Å"No. Finished.† The waiter wiped the edge of the table with a towel and shook his head. The old man stands to leave, counts his tab, pays for his brandy, even leaves a tip for the waiters, and then begins to walk awa y with dignity even for his drunken stupor. (153-154) In this passage the reader is provided with several concepts that help to create the depictions of the old man and the younger waiter. Foremost, the reader is struck with the incivility of the old man; but, before he leaves the cafà © one is forced to become a sympathizer for the fact that ... ...ith him, probably would drink all night with him too. This is very typical of Hemingway in the fact that he cannot help but to create a story where the reader must not only have background knowledge; but also, be completely immersed into the story and become an omnipotent reader. With all of Hemingway’s elements of writing these are the most becoming of his typical writing style. They create a very broad sense for the reader and make it very imperative for one to become a central part of the story. Though he is a very exemplary writer Hemingway employs very artistic and almost novel forms of writing to his works of literature. Works Cited Cover Page Hemingway, Ernest. â€Å"A Clean, Well-Lighted Place†. Literature: An Introduction to Fiction, Poetry, Drama, and Writing. Eds. X.J. Kennedy and Dana Gioia. 11th ed. New York: Longman. 2010 152-155. Print.

How Does Knowledge Management Influence Innovation and Competitiveness?

How does knowledge management influence innovation and competitiveness? The Authors Alberto Carneiro, Alberto Carneiro is Assistant Professor in the Polytechnic College at the University of Lisbon, Portugal. Abstract Is concerned with human value management, examines the relationships between organizations’ competitiveness, innovation advancements, and knowledge management and presents a set of considerations regarding how these relationships affect strategic management and the formulation of competitive strategies. By considering how knowledge development is related with personal characteristics and personal development, this study review attempts to provide useful insights on the linkages between innovation and competitiveness. These considerations point out the importance of knowledge development and the role of knowledge management in order to assure competitiveness. This work proposes also a conceptual model, with special focus on the relationships between knowledge management, competitiveness, and innovation. The major factors are presented and directions for future research are suggested according to the proposed model. Introduction Management is increasingly aware that knowledge resources are essential to the development of their organizations. Nowadays, the knowledge and the information technology (IT) are critical success factors for strategic formulation. Critical success factors refer to those managerial and organizational constructs that need to be effectively addressed in order to further the likelihood of implementation success. Since industry attractiveness depends on those factors, strategies and their implementation should be supported by a set of informational data and a knowledge development process. Knowledge is becoming progressively more useful because management is taking into account the value of creativity, which enables the transformation of one form of knowledge to the next. The perception of the existing relationships among several systems elements leads to new interpretations and this means another knowledge level where a new perceived value is generated. This relationship indicates that the innovation highway depends on the knowledge evolution. On the other hand, all the technologies that are present in the activities of the chain value have to be articulated and assisted by an efficient knowledge level. Some of the knowledge involved in the use and improvement of technologies can be written down in detail in procedures manuals and use instructions. Others are tacitly transmitted and learned through practical knowledge. Moreover, the success of technological modifications needs to be supported by more clarified and enhanced knowledge. With but few exceptions, most firms have had difficulty in developing a viable strategic knowledge system. There are manifold reasons for this, but certainly a major one is the omnibus nature of the sources required. Knowledge may flow into the organization in a continuous but unsystematic manner, probably because the amount of information processing resources varies by level of management activity. The lack of specific system objectives inevitably led to a data bank of enormous magnitude. It is necessary to consider the structure of such a system and to implement it, in accordance with the organizational functions that use information to realize activities and to decide. Considering the need to increase managers’ concerns, this work sustains that a set of factors is dramatically useful to justify the relationship between innovation process, competitive advancements and a strategic knowledge management (KM). First, it presents a brief review of the relevant literature on the role of knowledge in the management processes. Second, and in a modelization perspective, we will discuss the relationships among these factors to suggest a better way to deal with human value, to improve KM, and to attain a higher level of competencies. Finally, this article discusses the implications of KM on innovation and competitiveness and presents suggestions for future research. Knowledge: an organizational asset What kind of knowledge should organizations develop? Organizations need to use adequate information to check the status of business activities as well as to make informed business decisions (Martin et al. , 1998). According to their tasks, managers must have the adequate information and the ability to analyze and evaluate alternatives in the light of the goal sought. This information comes from different internal and external sources and their credibility is crucial to provide an adequate knowledge (Joyce, 1993). Managers have to consider that the most valuable human attributes should be developed because they are one of the most important assets of many corporations. To do so, they need to adopt a new KM philosophy, based on search of information and innovative efforts. In this philosophy, managers should distinguish between different levels of knowledge. Initially, everybody can be aware of various facts and use data coming from those sources. This means that knowledge is reduced to a basic level, although each individual already has a professional understanding of his/her role in the organization. In the next phase, knowledge tends to specialization. The knowledge level and the fields of specialization will increasingly be taken as standards to measure the companies’ value of their assets. However, without being stimulated, it may stay in a static relation within functional areas, although tasks are performed in a qualified manner. If management is interested in knowledge development, it is necessary to consider that knowledge workers should be included in a dynamic process. This process demands the support of motivation, creativity and the ability to improve an intellectual and comprehensive vision of the relationship between the organization and its environment. Management should differentiate these levels, because the core of the decision-making process could be severely damaged if they were intended as similar. In fact, knowledge workers (strategists, engineers, technicians, researchers, etc. ) are able to offer insights in what concerns problems and/or new situations. In an upper level they can also contribute drastically to include more evident values into the company’s offering in order to generate the client’s preferences. Knowledge workers are the core intellectual competence of many firms. In fact, they dominate their expertise fields and, for example, they know how to optimise the systems software that is relevant to strategic decisions. Knowledge workers create most of the value in some industries. The benefits are immediately visible in some innovative industries, such as software, pharmaceutical, health care, financial services, communications, and consulting. That is, knowledge influences competitiveness. At this moment, it is necessary to underline a question: can knowledge be seen as a specific value for the organization or is management only using the employees’ brain capacities in a very innocent manner, because they are human resources? In the past, the returns on investment came predominantly from physical assets like physical products and equipment. Today, knowledge is the main source of another type of assets: intellectual assets. Knowledge levels can be an asset only if they are enhanced and efficiently used. Being so, managers must purposely organize, motivate and control the development of their knowledge workers. These ones are able to provide new solutions in the complex network of organization-client relationships. Owing to technologies, materials, and competitiveness, several industries find themselves in complex scenarios. Knowledge is not the solution, but, in the near future, the intellectual capital will be required to deal with this complexity, and to support innovation and creativity (Brooking, 1996). Usually and specially in the context of dynamic industries, higher knowledge levels live near a frequent dissatisfaction and the capacity of questioning what seems to be already understood. The need of search is one of the consequences. In various industries, the search activities can lead to new products and to innovative processes. Undoubtedly, the increasing complexity of research militates in favor of formal institutions like universities and government laboratories. Nevertheless, if KM is able to stimulate and support their commitment, individual innovators may have an important role in the changing process. Moreover, research activities in the business sector tend to be integrated within manufacturing firms (Mowery, 1983) and they can propose incremental innovation. Considering their missions and strategic objectives, organizations have to define what kind of knowledge will be more important to take care of. Managers should develop the ability to stimulate knowledge workers in order to obtain better effective levels in what concerns the analysis of target markets, technological innovations, and economic trends. Knowledge and information technology Data and information are used for a variety of purposes in organizations, namely for improving the possibility of increasing knowledge potential. Some information is simply data obtained from the database in its initial stage, which is mainly supported by internal documentation and tacit knowledge. Sophisticated or specific information is included in a management information system. Based on various subsystems of information, KM may use many combinations of factors in accordance with the database system and data that are provided by the users (DeSanctis and Gallupe, 1985). In general, firms’ search for information can be viewed as part of a process, through which an organization adapts to its external environment in order to survive and to become more competitive. Particularly, organizations look for information about specific activities, such as the purchase of new equipment and launching of new products, to obtain benefits of improved final decisions. Information requirements depend on the nature of each situation and on the need to formulate competitive strategies (Wetherbe, 1991). Building effective information systems is a very important challenge that managers are facing today, but it is necessary to pay attention to the need of comprehensive information systems architecture. A firm and its managers use a variety of approaches to combine, sort, and process the environmental data to produce timely and relevant information for forming, monitoring, evaluating, and modifying strategy. This variety should reach a high integration level in order to be possible to obtain a strategic information system. Knowledge professionals do have a decisive role in this integrative task. Summarizing, aggregating, comparing, or combining various sets of data collected in the environment and from competitors and customers produces other information sets, which are used, for example, to measure performance and report on the financial health of the organization. Knowledge workers are often exposed to incomplete information on new events and modifications, but they also have the option to search for additional information in order to update their knowledge levels (Ozanne et al. 1992; Burke, 1990). KM is also a question of cultural way of operating in the market. To enable this culture to prevail, IT is needed. Nowadays, IT is assuming a decisive role in KM and is one of the most important tools, which is used to decide, to fight competitors, and to catch target markets. In fact, adequate software can capture and distribute to knowledge workers all the useful information the company has stored over t ime. Taking this operation as a training process, knowledge workers can integrate several types of data and try to find new solutions for their problem tasks. This is true because they can use information about clients and competitors, technical databases, decision support systems, management models, successful solutions to competitive situations, and access to specialized sources of knowledge. Understanding, interpretation, and the use of IT may enable a possible competitive advantage to be identified and obtained. These three aspects cannot be done without specific and organized knowledge of the relationships among hardware, software, processes, and required results. In fact, some equipment replaces human command-and-control procedures, but knowledge advances have o be used to optimize this equipment utilization. Knowledge workers have adequate qualifications to communicate the information that is needed. Information sharing is a very usual practice. However, some of them avoid this communication flow, because they are not able to see the organization as a system, where the global objectives should be accepted as a common value. In some organizations, information sharing should be stimulated, because it is one of the most important tools of creativity and, moreover, intellectual assets, unlike physical assets, increase in value with use. Knowledge management: some guidelines Management has to analyze in the right time all the environmental elements because they affect the organization performance. Managers must intend to come to the best solution by selecting the alternative that best satisfies goal achievement. The main role of environmental analysis is to detect, monitor, and analyze those current and potential trends and events that will create opportunities or threats to the organization. A number of companies have developed effective means of learning about their environments and, most importantly, have implemented strategic decision systems which allow them to capitalize on opportunities and to defend themselves against threats. These analyses and systems are based on IT and KM. KM improves the conditions for strategic action by way of appreciating and treating problems and challenges by the company. Strategically, the success of most management decisions depends also on a competitive effort, which includes a deep knowledge of customers’ attitudes and an adequate analysis of the stronger competitors (Curren et al. 1992). This means that managers must learn: weaknesses, strengths and movements of their direct competitors; and how their customers perceive their products. Finally, all these findings should be integrated into a management information system. Managers should become aware that the great challenge is settled on the efforts to innovate, to exploit te chnological advances, competitors’ failures, industry opportunities, and the investment in knowledge processes and knowledge workers. In fact, knowledge and knowledge workers can be interpreted as a company’s intellectual capital, and also as a key factor to its sustainable development. According to Kao (1996), some companies are already able to carry out internal knowledge audits in order to quantify the innovative effort for competitive advantage. Most of the times, the intellectual capital is not well recognized and remains largely hidden from the view of financial analysts and executives alike. As a consequence, it is undermanaged. This means that its potential is not entirely used. Top management should focus their attention on these situations because the intellectual capitals of their companies and innovation infrastructure are one of the real sources of future competitiveness (Leonard-Barton, 1995). It is well known that managers have to face uncertainty, that is, they must make decisions under uncertain conditions, often before all the required data are in. Today, managers must be able to embed more knowledge-value in their decisions. Doing so, they will become much more prepared to come out with a new improved and even better alternative before their competitors. Knowledge workers may help in these situations. In fact, they are adequately able to deal with information and present hypotheses and proposals. Therefore, they can have an efficient role in the reduction of uncertainty. This point of view demands new directions of KM. To stimulate the development of creative skills, management should point out some directions to the most important knowledge workers: †¢to be able to define objectives of each task in a systemic network in order to share knowledge and available information with others; †¢to increase the level of individual commitment; †¢to be entirely aware of the amount of resources (equipment, software, materials, assistance) that they are going to need; and †¢to ask for answers, creativity, and innovative solutions. Management needs to show some interest in the intellectual capital, the crucial importance of creativity, the need to sustain a constant flow of innovation, and the new concept of learning organization. Competitiveness and knowledge management Knowledge and the formulation of competitive strategies The success of a strategy depends also on a co-ordinated resources management. Resources may be divided into two groups: physical resources (money, equipment, materials, facilities, and time) and conceptual resources (data, information, and knowledge). Managers have to decide how available resources will be distributed throughout their organizations. In fact, the organizational context calls for or demands certain decisions and results. Being a manner of finding a solution for a problem or formulating a strategy to achieve the objectives previously defined, every decision should be based on: an integrated set of information; the knowledge skills of human resources. In what concerns dynamic organizations, KM is a valuable strategic tool, because it can be a key resource for decision making, mainly for the formulation of alternative strategies. KM should be able to combine innovation efforts, updated IT, and knowledge development in order to achieve a set of capabilities to increase competitiveness. In fact, when this combination is adequately managed, the company can formulate competitive strategies, which integrate innovative products and new technological weapons to face its competitors. Management decision is a very complex process whose evolution integrates several stages. The first step in solving a decision problem is its formulation. In a practical perspective, defining its boundaries and critical components depends on information resources. The analysis of input data needs also a complete and updated understanding of several realities and the capability to find relationships among them. Further, the decisionmaker is able to predict the outcomes because they result from each available alternative. These stages are always based on data, which need to be organized in order to be useful; that is, every management decision must be supported by a set of information because of each situation, the context where it is occurring, and the organization objectives achievement. In a fast-changing environment, the competitive advantage of many companies is based on the decision to exploit, to develop the power of knowledge development. That is why some corporations try to provide opportunities for personal and professional development and are seeing that they should stimulate knowledge development to formulate competitive strategies. To find out and exploit opportunities, companies need to establish the main orientations of KM in order to enlarge their growing possibilities based on innovation and competitiveness. Managers know that it can be disastrous to enter or compete in an industry without being aware of changing critical success factors that define their target markets, since they play a significant role in determining the likelihood of implementation success or failure. If a firm is entirely aware of the vital importance of these factors, management decisions have to consider a complex background where the knowledge of the clients’ needs and preferences and the competitors’ strategies is decisively important. Practically, this means that a market orientation includes the concept of competitive orientation (Slater and Narver, 1994; Day, 1994, 1990). In this context, a company can decide its competitive advantage as a function of the capability to generate radical change in its processes and technologies and of the flexibility to adapt its resources to the strategic formulation. For example, if an organization decides to become a fast innovator, managers should co-ordinate the ability to formulate a competitive strategy and to build advantages against competitors. This ability depends on the capacity of speeding up creative operations to generate innovations (Page, 1993). These considerations are already known and well accepted, but we need to extract from them the logical consequences. A competitive decision should be based on a wide and quite firm support, which shall integrate the different relationships among several types of knowledge. As a consequence, a comprehensive knowledge is the vital ground where competitiveness should be built. Increasing competitiveness using knowledge benefits According to modern approaches, KM is already considered as a key factor in the organization’s performance, because it deals with different resources that can aid decision makers in many ways (Keen, 1991). Managers require complete and updated information and, according to their level of activity, they hope to rely on their knowledge workers. Nevertheless, this hope is useless if these experts are not effectively motivated to deepen continuously their levels of knowledge. Some companies know that the innovation effort and the adoption of new procedures and new technologies may increase competitiveness (Goel and Rich, 1997). This relationship seems to have the following reasons: †¢the innovators can be inventors if they are able to manage research and development function (Gilbert, 1995); †¢knowledge workers can perceive and deal with what target market accepts or expects as value; †¢knowledge development is a fruitful background where incremental innovation may be attempted; †¢if a company can use a knowledge-based competitive edge, it is able to defend itself against the aggressive movements of its competitors. The need for scientific and technical information flow within the firm is well recognised. Knowledge and information derived from data are required for competitive initiatives such as improving customer satisfaction, developing new products and markets, and providing faster response. The link between knowledge and systemic databases should be understood within the context of information resource management (McFadden and Hoffer, 1994). This means that effective decision making requires a rational selection of inter-related data and the possibility of these data being integrated into KM. This orientation can be applied in the strategic planning area, and it presents flexible capabilities. In fact, managers have the possibility of asking for more updated information, using pre-programmed models based on the integrative knowledge of previous situations, considering alternative solutions, and stimulating the construction of innovative proposals. A KM can lead managers to anticipate problems better and to experiment and innovate. Based on a good KM, managers are more able to analyse and evaluate environmental scenarios, and adequate response alternatives in the light of the global objective previously determined (Dutta and King, 1980). At this point, managers can desire to come to the best solution by selecting the alternative that best satisfies the achievement of global objectives. This means that they are deeply concerned with increasing competitiveness. A primary objective of this orientation in modern business organizations is to contribute to greater efficiency in achieving organizational objectives. To assure this contribution, researchers should reinforce their efforts to explore the relationship between the competitiveness optimisation and the KM optimisation, and also the effectiveness of a KM, which has not been entirely clarified. Innovation and knowledge management Can knowledge management support innovation? The innovative efforts include the search for, and the discovery, experimentation, and development of new technologies, new products and/or services, new production processes, and new organizational structures. The consequences of these efforts are sometimes seen as a raw material of information industry. New management philosophies are aware that information is the result of knowledge evolution and that a solid network between intellectual effort and technological innovations is enlarging. The innovative efforts are also the right consequence of the investment in knowledge and knowledge workers. If KM is positively influenced by the search of innovations, the investments in the development of new knowledge may propel companies into new business in more rewarding markets. To achieve better results, innovative efforts have to be strategically combined with a competitive orientation and its consequent movements. This combination depends vitally on the highest level of individual knowledge and on its technological basis. Many companies are taking into account that new technologies and management approaches are changing the traditional perspective of managing intellectual resources. According to some works (Harari, 1994; Nonaka, 1994; West, 1992), the organizations that are able to stimulate and to improve the knowledge of their human capital are much more prepared to face today’s rapid changes and to innovate in the domain where they decide to invest and to compete. Managers should recognise that the skills of human resources and the motivation level make possible creative suggestions, different proposals, and research activities to build up innovations. Due to the new insights of KM, a creative knowledge worker can contribute to face the problems that need new kinds of resolution, the situations that demand innovative approaches, and the relationships that can be discovered in the more and more complex markets where companies are operating. In old times, capital was the company’s most critical and scarcest resource and human attributes were used to contribute decisively to obtain the return of the company’s investment in equipment and plants. Presently, companies are trying to understand and to use a new logic of value, which is founded on its competencies, customers’ evaluation criteria, and competition. It should be underlined that the knowledge development in the fields of technological innovations, specialisation on business processes, and innovative products is the strongest source of competencies. Moreover, all competitive efforts, which come from competitors’ knowledge and innovations, dramatically affect the success of strategies (Gatignon and Robertson, 1993). Innovation should be viewed as a complex process, which involves a set of investment possibilities. In this investment perspective, knowledge has to be considered as a sort of capital. Owing to this reason, its development process is a managerial concern, because it can lead to the launching of a new product. The success of an innovative product is notoriously connected to research activities and changing orientation. On the other hand, these two elements depend on the development of knowledge levels and the innovative efforts of knowledge workers. Knowledge development How to intensify learning involvement One of the most important objectives of a competitive KM should be to increase frequently the different levels of knowledge. Increasing them implies: †¢to straiten the links among the latest advances of IT and the processes of gathering and process information; †¢to motivate knowledge development by recognising its importance in companies’ evolution; †¢to promote the acquisition of scientific culture, specially in the fields directly connected with the company’s main activities; †¢to invest in theoretical courses and practical training; †¢to intensify an effort to get updating in industry. According to the usual characteristics of all learning and experience curves, the knowledge level may grow exponentially if management is able to stimulate the conditions to learn more and to increase experience. Considering the power of these stimuli, which should be integrated into a global human resources policy, management has to define the adequate procedures to enlarge and to deepen knowledge development. Within a scenario of competitive imperatives of speed and considering the need to innovate constantly, learning will be the essential hedge against the possibility of negative consequences. Organizational learning should be seen as one of the most important responsibilities of top management. In fact, organizations may use the individuals’ learning activities and learn through them to create an organizational learning system, which provides the possibility of enhancing the capacity to generate new offering proposals (Coopey, 1995; Sinkula, 1994; Senge, 1990). Some authors consider that an organizational learning includes the ability to increase the understanding level from experience through analysis of problems, experimentation of solutions, and evaluation of results (McGill and Slocum, 1994; McGill et al. 1992). Organizations’ development needs to have the support of the positive changes in the education and training of the work force. This means that management should stimulate and organize this changing process. In general, there are two main ways that managers have to consider: 1. (1) updating efforts: scientific and technological knowledge is almost constantly changing and everybody in the organization should be conscious of the state-of-art of their fields of work; 2. 2) knowledge progresses have to be transformed in a more effective effort in order to obtain better production processes and more competitive technological advances. Learning involvement could be defined as a state of energy that a knowledge worker experiences in regard to an effort to increase his/her knowledge level (McQuarrie and Munson, 1987). A knowledge worker who is highly involved in learning is likely to expect more abilities to create and to suggest new ideas. A set of adequate information technologies should be foreseen. In fact, at any time during the learning process, errors or imprecision can occur. To avoid their negative consequences, KM should take into account the reliability of the information sources and also the data accuracy. These factors will affect positively the objectives’ achievement. Knowledge development as a strategic management instrument If management has a true strategic orientation, the knowledge development is a systematic, integrated, and planned approach to improve the effectiveness of intellectual capital of an enterprise (Edvinsson and Malone, 1998). It is designed to solve problems that adversely affect operating efficiency at all levels. Knowledge is one of the branches where development movements can occur to help managers in their decision-making process, to create new responses, and to enable a set of competitive reactions and/or pro-active proposals. In the last two decades, we have seen a knowledge explosion and a change of the labour force. In fact, knowledge workers are not directly involved in manual activities, but make up a greater proportion of the labour force than ever before. Many companies try to provide an internal environment for experiential learning in which knowledge workers become more and more involved in solving job-related problems. In a quickly changing environment, the organization’s flexibility is one of its key success factors. This flexibility should be strategically combined with knowledge workers’ adaptability and high-quality standards to obtain two types of competition tools: 1. (1) sustainable advantages against competitors; 2. (2) capability to offer to the target market new alternatives. Knowledge development is a sort of response to changes in the external environment and nternal situations. It can be adapted to solve problems that negatively affect operating efficiency, including the need to replace obsolete products by new ones. In what concerns knowledge development, the improvement of products (incremental innovation) and process innovation (radical innovation) should be integrated. The aim is to improve the horizo ntal flow of information, because this flow is a very important tool to understand the relationship between the organization, its clients and its competitors. To make better decisions, managers have the option to search for more accurate information. One of the most important sources is the knowledge development of their collaborators, because they have been adequately trained to find out what are the new advances of science and technology. Training and motivational measures can be used to leverage professional intellect, but human intellectual capabilities can not be managed as if it was the only goal. In fact, top managers must consider the critical knowledge bases, the intellectual skills, and also the accumulated experience that can be used to increase the organization performance and to support their strategic decisions. Most developments at enterprise level are not possible without changes in education and training of the human resources, namely the intellectual capital. In fact, this capital is focused on innovative effort, on the information about competitors, and on proactive strategic decisions (Prescott and Gibbons, 1993). In many important complex problems there simply are not enough empirical data to provide a basis for complete analysis. Many aspects of a decision process require personal judgement, that is, the presence of updated knowledge workers. The problem-solving capabilities of knowledge workers lie in education background, professional training, creativity, and motivation. Non-routine processes demand for more skilled workers, because innovative solutions should be found and adapted to market needs. Sometimes, an organization needs to assimilate competitors’ technologies, to imitate them, and, in a benchmarking perspective, to adapt them in order to obtain specific benefits (reduction of costs, faster capacity to satisfy their market needs). This strategic effort demands a sufficiently motivated intellectual capital. In fact, even people with exceptional talent will not be able to develop potential without the adequate motivation (Twining, 1991). Moreover, knowledge development should include an effort to integrate the intellectual power of the organization’s human resources. Skills that are integrated according to a systemic perspective are more effective than a set of disconnected and/or uncoordinated talents. The co-ordination of the various abilities and aptitudes may lead to a learning process with a holistic approach. Being so, knowledge workers can learn more, recall information more accurately and use all their resources to build up innovative solutions. Influence of KM on competitiveness and innovation The influence of KM on management decisions effectiveness should be considered to support and also provide insight into how knowledge workers can contribute to obtain better results. However, management must consider that knowledge is not a simple and unique entity. The commitment to generate new discoveries and a more demanding understanding is not enough. The organizations need to look for the knowledge that is able to add value. Value adding knowledge is very different to an information-mix. This mix can be important, but first it is necessary to find out how the markets perceive the presence of value. These considerations can be taken as a guideline for KM. There are perhaps an unlimited number of factors that can define management attitudes regarding the role of intellectual capital into organizations’ life. Some managers evaluate significantly this capital as a very important resource that should be used to obtain adequate profits. Therefore this capital should be constantly improved. As can be seen in Figure 1, a conceptual model of KM is proposed. It emphasises that innovation and competitiveness can be a function of the KM. This model takes into account numerous determinants (determinant factors) of the relationships among various fields. The top portion of the model shows the most common factors that usually define management’s attitudes and deals with the following questions: †¢How important is intellectual capital? †¢How does management evaluate knowledge development? Is training one of the important aspects to be planned? †¢Is knowledge considered as a strategic tool? †¢Are managers prepared to motivate knowledge development? †¢Are managers able to stimulate the potential capacities of their knowledge workers? KM has to deal with two domains: 1. (1) personal characteristics of each knowledge worker; 2. (2) factors that affect personal development. The most common factors t hat affect initially the personal characteristics of a knowledge worker are education level, attitudes and values, innovativeness and creativity (Eagly and Chaiken, 1993; Allen et al. 1992; Mayo and Marks, 1990; Bearden et al. , 1986; Hirschman, 1980). Innovativeness is an important factor for supporting innovative efforts and it contributes also to define the personality. However, it is not enough to desire new products or new processes. In fact, an innovation that an enterprise presents into the market may be also due to the creativity of its knowledge workers. Personal development is directly related to professional experience. Any personal experience may be an information source and a learning situation. As a result from a personal or a managerial decision, training courses may contribute to reawaken previously acquired knowledge and to facilitate the access to a higher knowledge level. The development of each knowledge worker has its own dynamics, which is related with personal objectives. The more demanding the objectives are the more the learning efforts should be intensified. Nowadays, learning processes and knowledge updating procedures depend on information technology. Moreover, it has a decisive role on knowledge development because competitive advantage can only be maintained by the use of information for innovation (Huffman et al. 1990). Nowadays, managers have to decide whether they want to obtain better results from their knowledge workers or they prefer to lose the creative power that they possess in their minds and their professional experience. Managers’ attention must be focused on personal development. To obtain an effective knowledge level, investment in knowl edge development is needed. Managers should improve their ability to motivate knowledge workers to attain higher knowledge levels, because the arousal of this set of intellectual needs may be caused by external stimuli. Motivations should be intensified, because they should impel knowledge workers to increase their knowledge levels. This movement will be decisive in terms of innovation and can contribute to a stronger competitiveness. Even when no innovation is possible, an improved knowledge of the market and competitors can lead to more competitive movements. The technical capacities of a modern information technology will help this motivational scheme. Companies have to find ways to reach knowledge workers’ involvement. A person’s level of involvement plays a role in how much effort is used to learn new subjects or to deepen knowledge. Moreover, this involvement is an adequate condition for information sharing among knowledge workers. Adding IT, creativity and knowledge leads to a particularly potent combination. Managers can obtain impressive results in what concerns the companies’ abilities to innovate if they are able to develop the stimulation of innovative proposals through motivational methods and adequate rewards. The same can be said in what concerns key success factors: managers should practice frequently the stimulation of competitive efforts, provided through utilisation of both existing and new technologies. This conceptual model intends to interpret the relationship between KM, innovation, and competitiveness. It may contribute to an integrated understanding of the knowledge development process and its influences into the domains where management efforts should be focused. Conclusions This article intends to provide insights to a better understanding of KM in what concerns the possibility of influencing innovation and competitiveness. Its considerations provide considerable support for the importance of knowledge workers as a decisive contribution to the strategic enhancement. The implications for managers have been underlined. Regarding these implications, some concluding remarks can be made: †¢define methods for measuring the degree of KM effectiveness; †¢develop effective strategies for integrating innovative efforts, professional experience, skills, interactive capacities to create value for a company’s competitiveness; †¢determine the means to capture, transfer and leverage knowledge effectively; †¢let KM enter into strategic decisions concerning the profitability of intellectual assets. The suggested model also enables us to extend some of the frameworks for understanding managers’ evaluation criteria. This extension to traditional models of management strategic decisions is a direct result of the informational complexities in modern organizations. Consequently, these considerations intend to represent an important step forward in unravelling the KM as an efficient support for innovation and competitiveness relationships. Directions for further research Deepening the analysis of managers’ interest on knowledge is critical to understand how KM can contribute to improve strategies’ formulation. Future research should examine the differences among industries, and measure accurately the relative importance of the factors that affect personal characteristics and knowledge development. Because these relations are not fully investigated, we suggest additional studies concerning the industries where knowledge workers have a more defined and important role. Future research on managers’ attitudes facing the linkages between strategic management and human value may have to examine carefully the role of a KM orientation as an effort to support adequately successful strategies. This discussion contributes to a better understanding of the consequences of a management orientation, which is able to leverage knowledge advances. It is the task of management to improve the types of knowledge that best fit innovative efforts and competitive strategies. If this management orientation is well pursued, the organizations are likely to profit from knowledge development and from their human resources creativity. Figure 1Influence of KM on innovation and competitiveness References Allen, C. T, Machleit, K. A, Kleine, S. S (1992), â€Å"A comparison of attitudes and emotions as predictors of behavior at diverse levels of behavioral experience†, Journal of Consumer Research, Vol. 18 pp. 493-504. Bearden, W. O, Calcich, S. E, Netemeyer, R. G, Teel, J. E (1986), â€Å"An exploratory investigation of consumer innovativeness and interpersonal influences†, in Lutz, R. J (Eds),Advances in Consumer Research, Association for Consumer Research, Provo, UT, Vol. 13. Brooking, A (1996), Intellectual Capital: Core Asset for the Third Millennium Enterprise, International Thomson Business Press, London, . Burke, S. 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