What is Knowledge Based Economy and How Can We Benefit from its Coming?

This short article is a good start to explain what is a knowledge based economy. This where the economy rely greatly on the production, utilisation of knowledge and the process involved to distribute it.

By John Rowes

What is knowledge based economy and how can we benefit from its coming?

It has been a long time since the coming of knowledge-based economy was announced. The major change that is said to turn a society upside down is upon us now. But what does knowledge-based economy really mean?

Definition

Knowledge based economy is a kind of economy based solely on the production, distribution and the use of knowledge. In short, it means that the most important thing in the coming economy model will be knowledge and skills, not the material products.

What's the difference?

At first it may seem that there is only little difference between a normal economy model and a knowledge based one. In both we just create, buy and sell the products, and their nature seems to be exactly the same. But as we take a closer look, things change. There are a few reasons for that:

1. Knowledge is easily copied. If you've had a good idea, everyone will quickly adopt it unless you do something to prevent it.

2. Knowledge comes through the borders easier than material products. While Chinese are dangerous only to a few sectors of the US economy, knowledge-based economy model calls for moving most of jobs away from US to those countries that have skilled workforce, but are much cheaper than US (India, and eastern part of EU are the good examples of such places).

3. The knowledge is quickly becoming obsolete. You need to be prepared for constant creation of knowledge if you hope to keep up with your competitors.

How to cope with knowledge problems in your company and benefit rather than suffer from the incoming changes?

In short, knowledge based economy will create a lot of problems for small and large companies alike. Counterfeits and violation of your copyrights will eat your profits, most of your contractors will move their orders abroad and the situation in your company (and the whole economy) will change at the speed of light.

However instead of fighting the inevitable we can profit from that. The coming of a new economy model will create as many new possibilities as problems.

1. You will be able to use outsourcing to minimize your cost. In the effect you will be able to offer lower prices while still having an upper hand because of running a business in US.

2. Instead of preventing everyone from using your ideas, go for paid Internet-sharing and let everyone profit from your concepts. Or leave it altogether, offer your ideas for free and profit from the advertisements and high traffic on your website.

3. With coming of knowledge based economy business management has become easier than before. Internet and cell phones make contacting anyone anywhere anytime possible. Use it!

John Rowes makes it easy to understand role of intelligence in business. Learn essential skills in this important area on John’s http://www.acintelligence.com business intelligence site Article Source: http://EzineArticles.com/?expert=John_Rowes

Article Source: http://EzineArticles.com/167801

enhance your career

If your are already reading, there is always the chance for your to enhance your career. Your existing job can be under one of these possibilities:

- your are very satisfied with your job and want to make it your career.

- your are not very sure whether which career to choose.

- you hate your job

There are a number of ways for you to enhance your career depending on you situation.

1. Upgrade to education qualification

Education is the main enabler for your career. Just take a look at all the advertisement and majority will state the minimum qualification required. If you want to change your career, consider the education qualification required. Some professional jobs will require the relevant professional qualification.

2. Maintain your health

Education is the ticket to the playing field. There are more to be done to enhance your career. One of the most forgotten element is your health. This may not seem important at the younger age. However once you pass the age of 5o, then the problems may start to surface.

3. Building career Network

The nature of today's jobs are: You always work in a group. It is the group that make the decision and make the products. Expanding the network will expand your capacity and opportunity.

4. enhance your interpersonal skills

The interpersonal skills is always critical for all levels of jobs. It is more in demand for the jobs that require team work and that involve direct dealing with customers.

You may start at the bottom of the ladder and work yourself to enhance your career and slowly climb the ladder of the career. In my previous company, an international airline with about 20,000 staff, the chief accountant started as an office assistant, called 'office boy'. His job was to send the letters for his boss.

"continued career success" after merger

continued career success
A merger can be a dreadful occurrence for many employees. However it does Not has to happen that way. It can be an opportunity for promotion, depending on how you view and work around it.

The recent reports had forecasted that more merger will take place due to economic pressure.

Here are some tips to help you to manage the transition and emerge stronger:

a. work on your fact finding and research.
Do both the secondary and primary researches. Primary researches are ones that you go direct to the sources and you are the first owner of the data. Secondary research is when you research on somebody's work, their books, reports,blogs etc.

b. Build the network:
It can be official and personal. In some region, the personal networks are highly valued. It is the relationship that build up the business. In the emerging chinese economy, it help to know the owner personally.

c. Understand the new culture.
Know the new management style, their expectation and modus operandi. Embrace and work within it. You will be a loser if you remain holding to the old way of doing thing. Do not be tempted by the notion of the ' the good old days'. Organization is the work of a group of people, sometime the dynamics of the group is more important then the individual performers.

d. Be seen to contribute.
There is no point to be the good man behind the horizon. Find opportunities to propel yourself into the lime light.

These are some of the tips to ensure your "continued career success" after a merger

Character of good leaders

Successful companies put extra importance on leadership. The example set by GE had demonstrated this. Leadership is viewed as the most important elements required for a company's success. Effective leaders are produced by effective persons built upon a personal characters. You cannot separate the leadership and the personal traits.

The followings are the critical characteristics of effective leaders.

1. Highly ethical person.

Ethic is the study of rights and wrongs and the relationships of means and the ends. Ethical leader will not abuse his power for personal gains and glory. Unethical ones will be found to accumulate personal wealths for himself or his family at the expense of the mass.

2. High Energy.

He will appear to have an unlimited amount of energy that is used to drive the visions. He knows the different between what are important and do not waste time on the petty issues.

3. Discipline.

The leaders have the discipline to pursue the plan. The priority are being set, modified and followed through.

4. Courage.

To bold enough and willing to take the necessary risks. He has the courage to overcome the challenges that he faces.

5. Commitment.

The commitment and dedication will be transferred to the orgaisation. You will find the whole organisation will be committed to meeting the goals.

6. Goal orientation.

Setting the goals of the organisation and able to get the total forces within the organisation to pursue the intended goals.

employability - the pencil approach

The pencil approach will help you to boost your employability in time of turbulence.

Many people are affected by difficult economic situation. Some will be unlucky and are not able to retain their jobs. If you are one of them, do not let the situation dampen your spirit to boost your employability.

Here are some suggestion how to move forward. The approach is know as 'pencil approach'.

1. Plan
The plan is the advance work you have to do prior to the actual effort to get the job. Do research on the job opportunities that suit your qualification and your interest. Review your resume, and update with your new skills or qualification. The resume has to be revised to suit the targeted jobs.

2. Exercise
To face the challenges, we have to be at the top health, both the physical as well as mental. The key to healthy body is the moderate intake of food and continuous and consistent exercises.

3. Network
Not all jobs are advertised in the paper or in the webs. Many companies would prefer to use networking to fill up a vacancy. This is especially true if the vacancy is in small number and demanding a generic skills. It is expensive and time consuming to advertise in the newspaper.

4. Communication
This skill is critical for all levels of jobs. It is more in demand for jobs that involve direct dealing with customers.

It is important for us to sharpen our skills, both the verbal and written communication. Reading books and practice what we had read will be beneficial.

Beside the writing and verbal skills, we also need to develop our listening and well as our non verbal communication. The non verbal communication would have some cultural connotation, as it may be interpreted differently by different groups.

5. Learn
Learning is a continuous activities. It can be in the form of additional qualification or skills. Keep track of the happenings in your profession and events in your country.


Appreciation
Reference was made to thestar,com.my on an article by Paul Lim, a certified ACTA trainer.