Compose a 1750 words assignment on knowledge based business environment. Needs to be plagiarism free! Any economy with declining industrial base relies largely on its knowledge base since the rapid changes in the technological as well as professional skills demands that the human resource base must acquire a certain degree of knowledge which keep them in-line with the industry trends. Due to lack of this knowledge base, organizations within the economy also suffer since it is largely reflected in the performance of that organization having a low or insufficient knowledge base. Thus the success of the economy, as well as organizations, is shifting in the favour of having a solid knowledge base on keep them sustainable and competitive.
This easy will look into some of the implications for the organizational performance in the current business environment with special emphasis on the movement from manufacture to knowledge context, the importance of stakeholders as well as how systems and procedures may be used to achieve the desired targets. Based on the above parameters, this essay will be divided into two parts. The first part will discuss the macro-level issues related with the knowledge base business environments whereas the last part will be more of micro-analysis orientation as it will focus on the knowledge base at the firm level and its implications for the organization in terms of performance.
Generally, there is a dearth of a concise and definite definition for the knowledge-based economy however it has loosely being defined as “one in which the generation and exploitation of knowledge have come to play the predominant part in the creation of wealth” (Brinkley, 2006). Thus the notion of the knowledge economy is more than just the traditional concepts of research & development and demands a more comprehensive approach.
Due to this shift in the perception within the economy, it is now largely believed that the emergence of knowledge-based economy will give rise to the new organizational forms within and between the organizations and a radical change in the way employment was perceived in its more traditional way since the new knowledge workers within the economy can take the form of freelancers or even self-employed. . .