I read Peter Bregman’s post in Harvard Business Publishing on why be believes that small businesses will win in this economy. Several things he said have me thinking about the opportunities in this up economy. At a time when many large organizations are downsizing to try and become more productive, I believe there are significant opportunities for small businesses to leverage KM and PKM principles for competitive advantage.

The author explains why small businesses are poised for significant advantage over large companies.

Some key points that I took away:

  • People in senior positions don’t trust the decisions being handed to them.

  • Customers value the personal relationship.

  • Small businesses give their employees a sense of security, which they in turn pass along to their customers/clients.

  • The gap of confidence between small businesses and big ones is growing.

  • We don’t trust companies any more; we trust people.

  • Small companies with low overhead, reliable owners, a small number of committed employees, personal client relationships, and sustainable business models that drive a reasonable profit are the great opportunity of our time.

Clearly, there’s an opportunity to model leadership and ethics here. There’s also an opportunity for KM and PKM to support these growing small businesses. One of the commenter’s, Dan Collins, had this to say:
“There’s so much the little guy can do that large corporates can’t – communicate internally, react quickly to client demands and make priorities to name just three.”
I may be looking at this through KM-colored glasses, but I think that KM can be a powerful tool to support a) communicating internally, b) react quickly to client demands, and c) making [informed] priorities.

With so many businesses going out of business, I believe now is the time for ethically-led and well- informed knowledge-driven, customer-focused businesses to flourish.

What do you think? Do you agree with the author? …with my takeaways? …with the opportunity for KM/PKM to support small business service and competition?

SOURCE: Why Small Companies Will Win in This Economy

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