MGMT 1000 Study Guide - Midterm Guide: Problem Solving, Stress Management, Learning Organization

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

Document Summary

Lecture 1: meeting the challenge of a knowledge economy. The world is continuously becoming a place where the ownership of knowledge as opposed to financial capital is becoming a formative force. By levering up their ability to learn, one is acquiring own intellectual capital. Without a doubt the knowledge economy has always existed, however now it is working with rapid succession, a world where traditional factors of productions are being overshadowed by importance of knowledge. Continuous innovation: successful companies are those that create knowledge, spread it through organization and make them a part of their new products/services. Continuous learning: new methods of learning nurtured and people continuously learn how to learn together. Competitive advantage: those countries that excel at creating and transforming new knowledge will prosper. It is really challenging for management and individuals to reshape their careers and lifestyle. Companies are continuously automating and outsourcing, to keep having jobs, one needs to have knowledge economy increase flexibility and employability.