Reply #14: The invisible K-Economy

[54anickel]

http://star-techcentral.com/tech/story.asp?file=/2004/6/29/corpit/8304594&sec=corpit

THE Knowledge Economy has been characterised by many different names.

It has been referred to as “the information society,” “the new economy,” and “the creative economy.” Every name emphasises one of the characteristics or manifestations of the K-Economy.

One characteristic that we have missed out is “invisible.” Another way of referring to the K-Economy could be “The Invisible Economy.” This is because it reflects one characteristic of the K-Economy which Malaysian workers and managers might be unaware of: The K-Economy has been operating globally for many years now, albeit in unseen ways. It is therefore important that we are conscious of the “unseen” knowledge forces that are driving our companies and country.

The rules and practices that determine success in the industrial economy of the 20th century need rewriting in an interconnected world where resources such as know-how are more critical than other economic resources. Recent thinking and developments offer guidance on developing appropriate organisational strategies to succeed in the new millennium.

Growing interest

Many management writers have for several years highlighted the role of knowledge or intellectual capital in business. The value of high-tech companies, such as software and biotechnology companies, is not in physical assets as measured by accountants, but in intangibles such as knowledge and patents.

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