Knowledge Economy – The New Business Trend
AbstractThe main trend of today's economy is a rapid transition from the production to a knowledge economy. The phenomenon has many implications on different levels: national economy level, single firm level and also personal level of any employ. Knowledge assets predominate the traditional assets such as land, capital and work. In that context the structure and organization of any firm is have been changing. Knowledge management is becoming a dominant part of a firm's management and thus it is the bases of managing a new knowledge economy. The new economy principles need a new business and market strategies to be followed by. Strategy of value innovation is taking leading role from still actual, and in certain cases successful, strategies such as cost depreciation and differentiation. Creating a radically new value and the mass-market occupation are the bases of a firm's profitable growth today. Any firm, any business activity has to be adapted to a new knowledge economy conditions if it is aiming to be successful today and in the future.
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Bibliographic InfoArticle provided by Spiru Haret University, Faculty of Management Brasov in its journal Review of General Management.
Volume (Year): 9 (2009)
Issue (Month): 1 (Ianuary)
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Web page: http://www.spiruharet.ro/facultati/facultate.php?id=7
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knowledge economy; knowledge asset; knowledge management; value innovation;
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