MGMT 1000 Study Guide - Midterm Guide: Triple Bottom Line, Knowledge Economy, Vajrayana

• School: York University
• Department: Management
• Course: MGMT 1000
• Professor: Jean Adams

Document Summary

Knowledge economy increasing productivity, profits, and efficiency through a higher standard of thinking. Knowledge is a universal tool that everyone can access. But it is not just about accessing it; it is about utilizing it to its full advantage, and building upon it. Creating new ideas off of old ones is a big way that many companies are able to move forward and advance in their productivity. There are innovations in every single industry that exists, such as technology, healthcare, automobile etc. Also, when people start to work together to generate ideas, it becomes a very diverse playing field, in terms of creativity, individual thinking habits, and patterns that exist in our minds. As these factors combine into one group, then numerous possibilities for new ideas are generated. When an individual joins the knowledge economy, they are not just joining any normal economy; they are joining an economy built for the future.