Leveraging Knowledge Resources Globally example

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Leveraging Knowledge Resources Globally

Table of Contents

HCL Technologies Case Study 3

Challenges Faced by HCL Technologies 3

Solutions Introduced by HCL Technologies 4

Management Model Designed by HCL Technologies 5

Analysis of the Solutions Introduced by HCL Technologies 5

Questions for Further Discussion 6

HCL Technologies Case Study

Leveraging knowledge resources is becoming increasingly important in pursuing business goals. Globalization requires a constant enhancement of the employees’ skills and experience. Knowledge is crucial for the companies that aim to retain their leadership positions on the global market. It helps businesses to identify and capture market opportunities on time and develop long-term strategies to expand their presence in other countries. At the moment, forward-looking companies replace managing tangible assets with managing knowledge‐based strategies (Massingham, 2004). For instance, HCL Technologies, a multinational IT services company, encouraged the employees to generate innovative ideas, the total worth of which was five hundred million dollars (The Economic Times, 2014). The company’s top management introduced forward-looking solutions on leveraging knowledge resources of HCL Technologies to mitigate the risks connected with the changed business environment of their clients.

Challenges Faced by HCL Technologies
HCL Technologies is an Indian IT services provider, headquartered in Noida. Its services include IT consulting, remote infrastructure management, business process outsourcing, etc. (HCL, 2017). HCL Technologies company has been operating in Australia since 1997 in such locations as Sydney, Canberra, Brisbane, Melbourne, Perth and Hobart (HCL, 2017). It belongs to one of the few IT outsourcing businesses in Australia that cater to large customers which possess international chains across numerous industries. HCL Technologies provides services to multiple industries, including banking, hi-tech, energy and utilities, retail, manufacturing, travel and logistics, government, and mining (HCL, 2017). All these businesses experience a significant increase in the volume of data and the reduction of time to find solutions to major problems. They have a strong competition on the global market and are constantly searching for the ways to make data-driven decisions (HCL, 2017). Australian customers of HCL Technologies need regular data-driven insights, so that they could analyze the present business environment and predict the trends (HCL, 2017). Therefore, they often resort to specialized research and analytics vendors who are able to develop successful business strategies. To retain their clients, HCL Technologies came up with a new way to leverage the company’s knowledge resources.

Solutions Introduced by HCL Technologies
HCL Technologies launched the “ideapreneurship” program to encourage employees to generate innovative ideas, aiming to deal with the business challenges their customers face. The employees of HCL Technologies collaborate, shape and share ideas in a structured manner to solve major customers’ issues world (The Economic Times, 2014). As a result, the company’s workers found over 32,000 brilliant solutions that delivered approximately five hundred million dollars of value to the company’s clients all over the …

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