MGMT 1000 Lecture Notes - Lecture 12: Whatsapp, Culture Of Asia, Urban Behavior
Document Summary
Knowledge economy: the key factors of production reside in the capacities and ingenuity of the human mind; engine driving innovation and change. Portable, cheap because it is in your brain and with you 24/7. Value of knowledge affects goodwill, share price. Always been a knowledge economy, but recently it has taken off (we are only now making good use of it) insider trading. An underground network that exchanges knowledge for a price: example. Emphasis on continuous innovation (competitive advantage successful companies are those that consistently create new knowledge (i. nonaka)), collaborative learning (new and expansive patterns of thinking are nurtured (peter senge)), competitive advantage (knowledge is king (business week)) We are in a new world with a new economics and new rules of social life . People can join the knowledge economy by levering their ability to learn. This is the way to acquire one"s one intellectual capital . The control of knowledge is leading to the control of capital.
