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#1 -The Importance of a Knowledge Economy.docx

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York University
MGMT 1000
Jean Adams

The Importance of a Knowledge EconomyStudy Questions1 What major challenges do you think are facing contemporary enterprise2 What is the knowledge economy Why do you think this idea is important 3 What are Learning Organizations Why are they important Support your answer with examples4 Agree or disagree with the old mans comment whoever uses machines does all his work like a machine Morgan 199612 Provide your rationale5 In your opinion what interesting new ideas are raised by thinking about organizations as brains Morgan 1996756 In your opinion what strategy defender prospector analyzer best identifies the approach taken by Microsoft By Apple Is it appropriate and effective Why Or why not11 Meeting the Challenge of a Knowledge EconomyKnowledge economy captures fundamental change occurring in todays societyLearning organizationsknowledge creating companies emerge as new engines of economic growthWage rates plummet due to automation deskilling of work and ability of corporations outsourcing12 Rationale for Developing Learning OrganizationsLearning organizations need to promote creativity at every level of operation to deal with new challenges promotes innovation and creates greater valueMany institutions discourage learning in favour of compliance and conformity In stable times conformity and bureaucratic procedures pay high dividendsUnder conditions of transformation and change limitations are exposed1Generating renewable resourcesOnce learning is underway it grows and feeds itselfBy learning individuals generate resources needed to accomplish tasks and objectives with minimal direction and control 2Creating New Knowledge and ValueSuccessful businesses add large amounts of knowledge to small elements such as land labour and capitalLearning is the route to knowledge and value creationValuecreating processes allow simple ideasraw materials to be converted into valuable consumer itemsImportance lies knowledge and learning embedded in final product
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