Michael Hanley :: Blog :: Characteristics of the Knowledge Economy, continued - The Diigo Meta page

• 29 Nov 08
  

  Bertrand Duperrin

  In the 21st century, comparative advantage will become much less a function of natural resource endowments and capital-labour ratios and much more a function of technology and skills. Mother nature and history will play a much smaller role, while human ingenuity will play a much bigger role.

  knowledgeeconomy IT organization skills tasks knowledge intangibleassets competences

  • The IT revolution has intensified the move towards knowledge convergence, and increased the share the knowledge stock of advanced economies
  • Flexible organizations reduce waste and increase the productivity of both labor and capital by integrating worker cognition and action at all levels of their operations.
  • Flexible organizations also avoid excessive specialization and compartmentalization by defining multi-task job responsibilities (which calls for multi-skilled workers) and by using teamwork and job rotation.
  • The knowledge economy increasingly relies on the creation, distribution and use of knowledge assets. The success of enterprises will become more reliant upon their effectiveness in creation, harvesting, absorption and utilization of knowledge.

  2 more annotations...

Would you like to comment?

Join Diigo for a free account, or sign in if you are already a member.