MGMT 1000 Study Guide - Final Guide: Hallmark Cards, Learning Organization, Organisational Routines
Document Summary
Estimated that knowledge is doubling every 11 hours, thus continuous learning is no longer a luxury it"s a(cid:271)solute (cid:374)e(cid:272)essit(cid:455) Knowledge is expanding at an astonishing pace from discovery of fire, developing tools, invention of the wheel. Knowledge immerged as a key factor of production alongside land, labor, capital. Emphasis must be placed on: continuous innovation: successful companies are those that consistently create new knowledge, disseminate it widely throughout the organization, and quickly embody it in new technologies and products. "knowledge-creating" company, whose sole business is continuous innovation: collaborative learning, competitive advantage. Control of knowledge = control of capital. Learning = acquire their own intellectual capital and be able to build increasing amounts of value into everything they do. What is predictable about competitive advantage based on knowledge is that it will soon be challenged. For that reason, learning cannot stop at any age. Old styles of thinking and organizational routines stifle creativity.
