How the Internet Affects Traditional Media

Traditional Publishing, REST IN PEACE

This is the headline that greets you when you land on a web page identified as a memorial to commemorate the decline of Traditional Media. A photograph of a man who seems to be in distress and who's possibly just lost his job companies this headline. If this does not paint a bleak picture, go on to read the 548 headlines that all sing to the same tune as the following:

  • Bad Times: NYT Says Revenue Fell 13.9% Last Month – Forbes.com
  • Men's monthly magazine Arena to cease printing after 22 years – Guardian.co.uk
  • Cosmopolitan UK publisher to cut 100 jobs – Guardian.co.uk

There's even a website entitled Newspaper Death Watch that chronicles all the publishing and newspaper houses that close down. All rather morbid would not you say?

The Deadly Spell

Let's take a quick look at Traditional Media and how the Internet cast it's deadly spell.

Back in the old days, we're talking 500 years ago; Gutenberg revolutionized the printing industry by inventing the printing press. This meant bibles could be produced at a fraction the time it used to. This also mean more copies in a shorter time and the Word of God got further reach in a shorter time. Newspaper houses and Magazine publishers still use a printing press today (well thank you captain obvious) .

Much later, shortly after the advent of electricity, the world was blessed with another few media breakthroughs, rarely radio then a few years later, television. Marketers and Advertising agencies had it all figured out as they devised Integrated Marketing Campaigns with astronomical budgets. Ah, the good old days. Well, much to the dismay of many of these agencies, this media landscape started to change.

Behold! Enter The WWW

At first a website was seen as a cute way to put your company brochure online and on top of that the disastrous dot bomb era created skepticism that labeled the Internet as a bad media and business channel.

Fortunately, since then the Internet has matured. Now, in countries where broadband has achieved high levels of household penetration, the web has become the consumer medium of choice.

Why? Because people can do research, shop online, watch videos and connect with friends all in the comfort of their own homes. People can choose what media they want to consume, where and when they choose too, especially with mobile connectivity. Marketers can no longer dictate what advertising messages people get subjected too.

Social Media, The New Black

Then there is the phenomenon of Social Media. It changed the media landscape forever. Social Media websites have allowed consumers to connect with friends, family, colleges and peers in ways that were never imaginable a few decades ago.

Technology has empowered the consumer to become the prosumer. Prosumers are consumers who produce content like videos, photos and blogs that can be instantly distributed and shared among millions of people via social media platforms. This is also known as user-generated content or UCG.

Here is an interesting bit of trivia about the reach of Traditional Media vs. The Internet and Social Media.

Years it took to reach a market audience of 50 Million:

  • Radio – 38 Years
  • TV – 13 Years
  • The Internet – 4 Years
  • The iPod – 3 Years
  • Facebook – 2 Years

So How Does The Internet Affect Traditional Media?

The Internet has reduced the need for traditional media because it enabled consumers to join social communities within their neighbors, across their countries and internationally. It has empowered them to converse at their leisure, 24/7, with friends.

Considering all that's been said, the demise of Traditional Media can seriously be attributed to the following factors:

  1. Decline in readership: The distribution of free news and information on the web has led to the decline in readership for traditional publications.
  2. Decline in revenues: The decline in readership advertisers advertisers will spend their money elsewhere and this leads to a decline in ad revenue.
  3. Real-time updates: Traditional Media can not compete with immediately updated user-generated content that's immediately available for the world to see.
  4. The rise of UGC websites: People have the freedom of unlimited real time commentary on content while Traditional Media is static and is a one-way communication tool.
  5. Online Audio / Video channels: People can choose what they want to watch and listen, when they want to and where without advertising interrupting their experience.

Simply put. The Internet has revolutionized the way things get done today. It has revolutionized the way we do business, the way we communicate and has broken down the walls of Traditional Media.

A recent example is the decision by Unilever UK to fire Lowe , their Ad agency of 15 years, in favor of crowdsourcing – which means it has thrown the brand creative pitch open to agencies and basically any person who can think of an idea, worldwide. This is done on the Internet of course.

Traditional Media will still be around for a while, but the Internet is getting more and more integrated into our daily lives.

Think about this. You could do without the Mail & Guardian or the MensHealth Mag for quite some time, sometimes live quite happily without it? But you just dare cut that ADSL connection …

Knowledge Mapping

This module focuses on the basics of Knowledge Mapping, its importance, principles, and methodologies.

Key Questions

  • What is K-map?
  • What does the K-map show, and what do we map?
  • Why is K-mapping so important?
  • What are some of the key principles, methods, and questions for K-mapping?
  • How do we create K-map?

Background

Each of the past centuries has been dominated by single technology. The eighth century was the time of the great mechanical systems involving the Industrial Revolution. The nineteenth century was the age of steam engine. After these, the key technology has been information gathering, processing and distribution. Among other developments, the installation of world wide telephone networks, the invention of radio and television, the birth and unpresented growth of the computer industry and the launching of communication satellites are significant. Now people started to think that only information is not enough, what matters is Knowledge. So there has been seen a shift from Information to Knowledge.

A bit of information without context and interpretation is data such as numbers, symbols.

Information is a set of data with context and interpretation. Information is the basis for knowledge.

Knowledge is a set of data and information, which which is added expert opinion and experience, to result in a valuable asset which can be used or applied to aid decision making. Knowledge may be explicit and / or tacit, individual and / or collective.

The term-Knowledge Mapping- seems to be relatively new, but it is not. We have been practicing this in our everyday life, just what we are not doing is – we are not documenting it, and we are not doing it in a systematic way. Knowledge Mapping is all about keeping a record of information and knowledge you need such as where you can get it from, who holds it, who expertise is it, and so on. Say, you need to find something at your home or in your room, you can find it in no time because you have almost all the information / knowledge about -what is where- and -who knows what- at your home. It is a sort of map set in your mind about your home. But, to set such a map about your organization and organizational knowledge in your mind is almost impossible. This is where K-map becomes handy and shows details of every bit of knowledge that exists within the organization including location, quality, and accessibility; And knowledge required to run the organization smoothly – since making you able to find out your required knowledge easily and efficiently.

Below are some of the definitions:

It's an ongoing quest within an organization (including its supply and customer chain) to help discover the location, ownership, value and use of knowledge artifacts, to learn the roles and expertise of people, to identify constants to the flow of knowledge, and to Highlight opportunities to leverage existing knowledge.

Knowledge mapping is an important practice consulting of survey, audit, and synthesis. It aims to track the acquisition and loss of information and knowledge. It explores personal and group competencies and proficiencies. It illustrates or "maps" how knowledge flows through an organization. Knowledge mapping helps an organization to appreciate how the loss of staff influences intellectual capital, to assist with the selection of teams, and to match technology to knowledge needs and processes.

– Denham Gray

Knowledge mapping is about making knowledge that is available within an organization transparent, and is about providing the insights into its quality.

– Willem-Olaf Huijsen, Samuel J. Driessen, Jan WM Jacobs

Knowledge mapping is a process by which organizations can identify and categorize knowledge assets within their organization – people, processes, content, and technology. It allows an organization to fully leverage the existing expert residency in the organization, as well as identify barriers and constraints to fulfilling strategic goals and objectives. It is constructing a roadmap to locate the information needed to make the best use of resourses, independent of source or form.

-W. Vestal, APQC, 2002

(American Productivity & Quality Center)

Knowledge Map describes what knowledge is used in a process, and how it flows around the process. It is the basis for determining knowledge commonality, or areas where similar knowledge is used across multiple process. Fundamentally, a process knowledge map cntains information about the organization? S knowledge. It describes who has what knowledge (tacit), where the knowledge resides (infrastructure), and how the knowledge is transferred or disseminated (social).

-IBM Global Services

How are the Knowledge Maps created?

Knowledge maps are created by transferring tacit and explicit knowledge into graphical formats that are easy to understand and interpret by the end users, who may be managers, experts, system developers, or anyone.

Basic steps in creating K-maps:

Basic steps – creating K-maps for specific task

  • The outcomes of the entire process, and their contributions to the key organizational activities
  • Logical sequences of all the activities needed to achieve the goal
  • Knowledge required for each activity {gives the knowledge gap}
  • Human resource required to undertake each activity {shows if recruitment is needed}

What do we map?

The followings are the objects we map:

  • Explicit knowledge
    • Subject
    • Purpose
    • Location
    • Format
    • Ownership
    • Users
    • Access right
  • Tacit knowledge
    • Expertise
    • Skill
    • Experience
    • Location
    • Accessibility
    • Contact address
    • Relationships / networks
  • Tacit organic process knowledge
    • The people with the internal processing knowledge
  • Explicit organizational process knowledge
    • Codified organizational process knowledge

What do the knowledge maps show?

Knowledge map shows the sources, flows, constitutions, and sinks of knowledge within an organization. It is a navigational aid to both explicit information and tacit knowledge, showing the importance and the relationships between knowledge stores and the dynamics. The following list will be more illustrative in this regard:

  • Available knowledge resources
  • Knowledge clusters and communities
  • Who uses what knowledge resources
  • The paths of knowledge exchange
  • The knowledge lifecycle
  • What we know we don? T know (knowledge gap)

Activity: 1

>> Can you create your personal knowledge map which shows the types and location of knowledge resources you use, the channels you use to access knowledge?

Where does knowledge tear?

Knowledge can be found in

  • Correspondents, internal documents
  • Library
  • Archives (past project documents, proposals)
  • Meetings
  • Best practices
  • Experience
  • Corporate memory

Activity: 2

>> What are the other places where you can find knowledge?

What are the other things to be mapped?

Benefits of K-mapping

In many organizations there is a lack of transparency of organization wide knowledge. Valuable knowledge is often not used because people do not know it exists, even if they know the knowledge exists, they may not know where. These issues lead to the knowledge mapping. Followings are some of the key reasons for doing the knowledge mapping:

  • To find key sources of knowledge creation
  • To encourage reuse and prevent reinvention
  • To find critical information quickly
  • To highlight islands of expertise
  • To provide an inventory and evaluation of intellectual and intangible assets
  • To improve decision making and problem solving by providing applicable information
  • To provide insights into corporate knowledge

The map also serves as the continuing evolving organizational memory, capturing and integrating the key knowledge of an organization. It enables employees learning through intuitive navigation and interpretation of the information in the map, and through the creation of new knowledge through the discovery of new relationships. Simply speaking, K-map gives employees not only -know what-, but also -know how-.

Key principles of Knowledge Mapping

  • Because of their power, scope, and impact, the creation of organizational-level knowledge map requires senior management support as well as careful planning
  • Share your knowledge about identifying, finding, and tracking knowledge in all forms
  • Recognize and locate knowledge in a wide variety of forms: tacit, explicit, formal, informal, codified, personalized, internal, external, and permanent
  • Knowledge is found in processes, relationships, policies, people, documents, conversations, links and context, and even with partners
  • It should be up-to-date and accurate

K-mapping – key questions

Knowledge map provides an assessment of existing and required knowledge and information in the following categories:

  • What knowledge is needed for work?
  • Who needs what?
  • Who has it?
  • Where does it benefit?
  • Is the knowledge tacit or explicit?
  • What issues does it address?
  • How to make sure that the K-mapping will be used in an organization?

Note:

  • K-maps should be easily accessible to all in the organization
  • It should be easy to understand, update and evolve
  • It should be regularly updated
  • It should be an ongoing process since knowledge landscapes are continuously shifting and evolving

Offline Readings:

  • K-mapping tools
  • K-mapping tool selection
  • Creating knowledge maps by exploiting dependent relationships
  • Creating knowledge structure map?
  • White pages
  • KM jargon and glossary

Online Resource: http: //www..voght.com/cgi-bin/pywiki? KnowledgeMapping

K-mapping Tools:

  • MindMapping
  • Inspiration
  • IHMC (cmap.ihmc.us/) (need to have.NET Framework and JavaRunTime installed in your computer)

(Learn more about KM tool selection at http://www.voght.com/cgi-bin/pywiki?KmToolSelection )
________________________________________

Categorised K-mapping

Social Network Mapping:

This shows networks of knowledge and patterns of interaction among members, groups, organizations, and other social entities who knows who, who goes to what for help and advice, where the information enters and leaves the groups or organization, which forums and communities of practice Are operational and generating new knowledge.

Competency Mapping:

With this kind of mapping, one can create a competency profile with skill, positions, and even career path of an individual. And, this can also be converted into the? Organizational yellow pages? Which enables employees to find needed expertise in people within the organization.

Process-based Knowledge Mapping:

This shows knowledge and sources of knowledge for internal as well as external organizational processes and procedures. This includes tacit knowledge (knowledge in people such as know-how, and experience) and explicit knowledge (codified knowledge such as that in document).

Conceptual Knowledge Mapping:

Also sometimes called -taxonomy-, it is a method of hierarchically organizing and classifying content. This involves in labeling pieces of knowledge and relationships between them. A concept can be defined as any unit of thought, any idea that forms in our mind [Gertner, 1978]. Often, nouns are used to refer to concepts [Roche, 2002]. Relations form a special class of concepts [Sowa, 1984]: they describe connections between other concepts. One of the most important relationships between concepts is the hierarchical relation (subsumption), in which one concept (superconcept) is more general than another concept (subconcept) like Natural Resource Management and Watershed Management. This mapping should be able to relate similar kind of projects and workshops conducting / connected by two different departments, making them more integrated.

Knowledge is power, broadly accessible, understandable, and shared knowledge is even more powerful!

Financial Spread Trading For Beginners

In this article, I want to show what factors to take into account when making a spread trading strategy in the financial markets. Such a strategy should be custom-designed for each person! After all, would you wear clothes made for another person? So it is with trading strategies.

Profit potential in the financial markets is huge – this is its main attraction! As an example, if you had sold the FTSE short in April 2010 and taken profits 1,000 points lower in June, a £ 5 down bet would have produced a profit of £ 5,000 on a margin (deposit) of only £ 500 or so – a 10: 1 home run.

But first, why do we trade the financial markets and what is actually traded? We are all familiar with the Stock Markets, Gold, Crude Oil, Currencies. Take just the Stock Markets – there are many types of participants. There are the big institutions, such as pension funds, mutual funds / unit trusts, hedge funds, and there are private investors, some with long-term horizons, and some with short-term capital-gain interests. We are concerned with the latter here, as these are called traders (that's us).

WHAT IS TRADED IN THE FINANCIAL MARKETS?

What is actually traded and what or who decides on market prices? My interest is in trading the main stock indices, such as the FTSE, the Dow Jones Industrials, the S & P 500, and the NASDAQ. These are all indexes of a basket of company shares averaged in some way. They reflect the general trends in the market, up or down. They are all derivatives.

As a trader, who is someone interested in buying and selling for a profit, and not at all interested in taking possession for any other reason, we want to discover methods which can identify when to buy and when to sell. That is where a simple, semi-mechanical method using technical analysis is necessary, together with a sound money-management scheme.

WHAT OR WHO DETERMINES MARKET PRICES?

What does move market prices? All public markets are what we call 'auction' markets where prices are set by the buying bids and selling offers of the various participants. Have you ever been to a live auction at an auction house? Sometimes, when an object comes up, there is a group of two bidders, both desperate to own that object. The bids ratchet up and up – and up to reach what many would say is a very high price. Now imagine the auction if those two bidders had played golf instead. Of course, the price achieved would have been far lower – and for the very same object!

So what was the true market price for that object? Of course, the concept is meaningless. The market is what the market is. This shows that market prices are determined by emotion, rather than rationality. This explains the various bubbles in financial markets we have seen recently. As traders, we can take advantage of this! Traders love bubbles both in the inflating and the deflating phases.

WHAT STRATEGY FOR YOU?

If you are reliably starting out as a spread trader, you need to determine what type of personality you are (I have explained this in a companion article). You need to match your chosen trading time-frame with your personality type.

If you like staying with a well thought-out trade for weeks and months, then you will be looking primarily at weekly and daily charts and using Elliott Wave and Fibonacci analysis methods (again, described in a companion article). For your money-management plan, you will be placing protective stops somewhat far away from your entry price, but always well within your estimated maximum loss.

If you like short-term trading, you will be looking at daily and 60-min, 30-min, and even 10-min charts in real time. It is almost a full-time commitment. But with expert advice at hand, it can be very profitable

The Safety Net

Within the dream we are dreaming, A Course in Miracles (ACIM) is clear that we have a safety net. We seldom see it that way as we feel trapped in a world of our making with no way out. Fear and guilt overwhelm us and we look to the words of the Course to elicit feelings of safety while completely misunderstanding where to find safety. The ego uses the reminders of the Truth from the Course so that we end up quoting them to ourselves and each other in an effort to feel good, prove we're right and extremely safe in a world of terror. This approach is an ego tick that negates the practice of true forgiveness.

When we're willing to recognize this world is not a happy place and we do not feel safe, our justifications with the ego get called into question during the practice of forgiveness. We find we're literally junkies who are addicted to excuses for what we're going with the ego; And since the ego can not allow forgiveness to reveal any ego trick, justification is a defense. Remember, a defense does what it says, ie, it defends (protects) and only what is weak uses defense due to the fear of lack or loss.

A reminder does what it says, ie, it reminds or points the way to something else in the mind. Reminders of the Truth from the Course point away from belief with the ego and towards (the meaning of) the Truth. This is a course on the practical application of forgiveness and the experience of the meaning of the Truth. It is not a course on faith and justification. The choice is yours in how you will use the Course.

A common example that most course students recognize is regard anger. Nowhere in the Course are we told we should not get angry. That would actually be unrealistic. We are simply told not to deny we're angry and to admit we are choosing to get angry. However, what we are told is not to justify the anger. Do not make excuses for why you are angry. It's never for the "justification" reasons you think.

Taking this basic concept, let's look into the ego trick of justification as a defense to keep the ego safe which we mistakenly believe is our safety. Once you understand the trick, it can be applied to undoing anything with the ego. In this article, we're going to expose the trick using the reminders of the Truth from the Course as those are also subject to justification.

Belief, Justification, Assurance and Defense

What makes it so difficult to recognize the ego is using justification with reminders of the Truth is because they seem so wonderful and that we want to believe them. They sound like the Holy Spirit is telling us they are true when it's really the ego tricking us into believing they are true. It brings down to the difference between a defense of the ego and a reminder from the Holy Spirit and the choice you make. There is a huge difference in the mind.

First, let's look at few basic concepts to further the discussion:

Belief

Choosing to believe in an unreal ego idea (thought) makes it appear real and so you only have to invest belief with the unreal to prove you are right. Continued belief (judgment) keeps the idea with you.

Justification

Justification means, "to show, prove or declare something is right." It is the reasoning used by the ego for believing the unreal idea.

Defense

Since all belief and justification is in the mind, defense is in the mind and it means, "an attempt to justify (prove correct) or to do something in favor of an action." The only action you can take in the mind is decision making. Choosing to justify a ego belief makes a defense. It protects the unreal belief as you're in total agreement with the ego and denial of the Truth.

Let's be really clear: The defense (belief plus justification) does not make what you are trying to believe true. It makes the belief (unreal) appear real. The meaning is still what you've chosen with the ego even when used to justify a reminder of the Truth.

Assurance

Assurance means, "to dispel doubts or a promise." There are two types of assurances: God or ego. The only guarantees the ego provides is what you're already experiencing and is clearly not working. Reminders of the Truth (God) point directly to the assurance (promise) of what is real. You choose which one sounds better and if it is the reminder, then you've got to get out of the justification trick.

The Separation Never Happened

We would not believe we're in this world unless we've already bought into the idea that we've separated from God. "The separation never happened" is the basic Truth reminder as part of the Atonement in the Course. It does, however, get used by the ego as a defense to negate the practice of forgiveness.

Justification of the reminder is the ego defense strategy. If we rephrase "the separation never happened" to the ego version, the trick of justification begins to expose itself: "Because the separation never happened, as the Course says, you are justified and correct to believe it did not happen." Honently looking reveal that we just explained why our belief that "the separation never happened" is correct using our "because" excuse (justification) with the ego. Again, this is not a Course on faith or justification as that further the ego and hides what the Truth reminder is pointing towards (which in this case is part of the Atonement, the solution). One mistaken belief leads to the next. Not far behind are the justifications as to "why" you are safe and still at home with God (other Truth reminders) in this world.

The Safety Net

Remember, this is a course in the obvious. The safety net can not be found in belief which defends the ego. It is only in those reminders of the Truth in the Course. Those do not require belief. Truth is not an idea. It's reality.

All reminders of the Truth, which are so lovingly pointed out to us in the Course, are there to do exactly what a reminder does: Remind us that we have reality (Truth) to catch us if we make a different choice. This does not mean to choose to "bliss out" on these assurances through ego belief. Rather, it means to consider them the explanations for why it is safe to practice forgiveness and obtain the experience of the Truth (which needs no defense).

Consider the rest of the Course another set of loving explanations for what you are choosing to give up (forgive). The light of Love shines brightly enough for the safety net to be obvious to anyone willing to look at their ego and forgive.

Defenselessness

To the ego, defenselessness is seen as weakness and yet to see the safety net, you will need to stop defending the ego. The justification junkies we all are is merely a mind addiction from wanting to be right instead of happy. However, now you know that justification of belief merely defends the ego; And now you have the trick exposed to apply to anything in your life.

Defenselessness (not defending the ego) is true strength because it relies on the Father where the Truth reminders point to remembrance of Him. To head in that direction in the mind, you must first accept that you've already chosen with the ego and will continue to do so as you learn forgiveness. You are going to get upset and angry. Do not defend (justify) that anger. Also, accept that you've been trying to believe your way to the Truth instead of practicing forgiveness of the beliefs (judgments) which leads directly to where the reminders point. Do not defend (justify) the trick even if you feel guilty or angry (do not justify them). Every time you accept responsibility for anything as being your choice, even when you've chosen to believe with the ego, you have the ability to choose differently because you are not justifying it which is protecting the ego.

What you are believing with the ego is what you are forgiving. The Father has provided the safety net but it's your decision to use it or not. The Truth reminders point where to look in the mind for the safety net and how to forgive. Forgiveness leads directly to the meaning in the Course that safety is in defenselessness. Forcing faith merely reinforces the ego. That's not true bliss and not the safety net.