DIs 1 Essay

Submitted By andypatel00
Words: 503
Pages: 3

The mining executive is absolutely correct in saying that mining companies cannot rely on knowledge alone to stay in business. In his comment on saying those two factors are more important than the employees knowledge, I must disagree. All three roles play a significant part in running a business, you cannot operate with one of those missing. The basis foundation on anything starts with an idea (knowledge), knowledge is the key factor on understanding the other elements. How much capital to invest? What equipment would be needed to purchase, and what areas would have the minerals located. Without having a proper knowledge of this information critical time and money would be wasted, decreasing the profit and the return. Not only that but the employees would get frustrated not seeing any results that could lead to lack of motivation for any future projects.

A question to ask is how much knowledge does the executive have? The first story regarding the steel can manufacturing company claims that its' success is based from the ideas of the employees. "The Brazilian company has figured out how to tap into employee knowledge and motivation to fuel its extraordinary productivity and innovation. " (OB, 6th Edition page 3) Not only they require the employees to make suggestions but they are well compensated, making them feel an even bigger part of the organization. With this type of motivation employees are not only using their knowledge but are proud to work there. Having such a wide array of knowledge working as a team, utilization of this knowledge can accomplish any task compared to a single individual.

This executive views are material things have a bigger part than knowledge, where I believe all three elements play an equal role. Majority of the mining companies in today's society is based on knowledge, knowing where to mine leads to success and profit not based on if you have the latest technology or equipment. To better understand the importance of knowledge for businesses such as the mining companies, it is also important to understand the…