MGMT 1000 Chapter Notes - Chapter 2: Knowledge Economy, Collaborative Learning, Competitive Advantage
16 Oct 2017
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This means that increasing emphasis must be placed on: continuous innovation - in an economy where the only certainty is uncertainty, the one sure source of lasting competitive advantage is knowledge. When markets shift, technologies proliferate, competitors multiply, and products become obsolete almost overnight, successful companies are those that consistently create new knowledge, disseminate it widely throughout the organization, and quickly embody it in new technologies and products. And those nations that excel at creating new knowledge and transforming it into new technologies will prosper in the years to come. In doing so they can increase their exibility and their employability. They will also acquire their own intellectual capital and be able to build increasing amounts of value into everything they do. Knowledge as the key resource is fundamentally di erent from any of the traditional key resources, that is, from land and labor, and even from capital. it is not tied to any country.
