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From Knowledge to Wisdom

Knowledge is awareness on various aspects of a particular object while wisdom is all about application of that knowledge. Knowledge can be acquired by extensive learning while wisdom can be developed by extensive practicing. Knowledge is "what to do" and "how to do" while wisdom is on the contrary. Managers should have more of wisdom than knowledge.
Knowledge level being almost equal among the managers, it is their wisdom which makes them distinguished and enables them to excel and raise above all others. In Management Studies, while text books help acquiring more knowledge, Case Studies help in developing wisdom.

Efficiency versus Effectiveness

Efficiency is all about doing things right whereas effectiveness is more about doing the right things. No doubt, managers should know how to do things in the right manner, more important for them is to know which things to do in which order. In Management Studies, text book knowledge equips the budding managers how to do a thing efficiently with the available resources. Case Studies enable the management students to evaluate comparatively various options and decide upon how the resources can be deployed effectively to solve the immediate problem / tide over the situation.

Static & Dynamic Case Analyses

Cases can be analyzed in two ways :

1. Static


2. Dynamic

In static analysis, the situation should be fully understood along with the environment which prevailed during the occurrence of the case; the resources that were available at that point of time should be folly assessed. Then the solution should be suggested based on that particular situation subject to resource constraints.

In the dynamic method of case analysis, one has to visualize the situation at the current point of time together with the resources available at present. Obviously, the solution may differ between static and dynamic analyses mainly because the resources availability is normally subject to change.

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Dr. Hema Bhalakrishnan,
Senior Lecturer,
Department of Management Studies,
Tamilnadu College of Engineering, Coimbatore.