Over the years, the structure and growth dynamics of organizations is directly linked with technological and sociocultural changes. In the early industrial period, most organizations were highly bureaucratic with firmly set ways of working. The same organizations are now experimenting with different ways of working as well as different ways of relating to employees (knowledge workers), customers and competitors. With the advent of Information and Communications Technology (ICT), the world economy is on the threshold of rapid transformation. A revolution is happening in the way we live and work and it is enhancing the capacity to create, share and apply knowledge at the workplace.
Across the globe, each and every sector facet is affected by the possibility of doing things cheaper and more rapidly. Harry S Dent, author, The Roaring 2000s , reveals that the information and Internet economy has greatly reduced the costs associated with marketing and distribution, much as the production line improved the productivity of physical labor. He observes that while the industrial revolution automated physical labor, the information revolution has automated left-brain work. These changes are bringing about a transformation in organizations, jobs and employment.
In today's business world, new ways of doing things are required to cope with the transition. The current environment is distinguished by changing customer requirements, narrowing production cycles against the complex systems and processes. The capital is becoming a mere commodity. Knowledge and intellectual capital are influential new factor inputs and are increasingly becoming crucial to ongoing value creation and profitability. It is hardly surprising that major international companies in diverse industries are intensifying their focus in knowledge and its productivity in today's knowledge-intensive economies. Knowledge is instrumental in creating sustainable organizational growth, value for customers, wealth for investors and of course great careers for employees. In short, knowledge is essential to create and grab profitable future opportunities. Irrespective of the business models, the creation of the new knowledge and its adaptation in the innovation cycle is the core of the business organizations.
|
