MGMT 1000 Lecture Notes - Knowledge Economy, Management System, Ob River
10 Aug 2014
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Support your answer with examples: agree or disagree with the old man"s comment: whoever uses machines does all his work like a machine. (morgan, 1. 1 meeting the challenge of a knowledge economy. Knowledge economy captures fundamental change occurring in today"s society. Learning organizations/knowledge creating companies emerge as new engines of economic growth. Wage rates plummet due to automation, de-skilling of work and ability of corporations outsourcing. Learning organizations need to promote creativity at every level of operation to deal with new challenges; promotes innovation and creates greater value. Many institutions discourage learning in favour of compliance and conformity. In stable times, conformity and bureaucratic procedures pay high dividends. Under conditions of transformation and change, limitations are exposed: generating renewable resources. Once learning is underway, it grows and feeds itself. By learning, individuals generate resources needed to accomplish tasks and objectives with minimal direction and control: creating new knowledge and value.
