Is Your Organization Equipped to Compete in the Knowledge Economy?
We live in the middle of the most competitive time for business in human history. With daily advances in technology and a connected global community, many of the traditional barriers of entry to grow a business on a global scale are no longer a concern. With numerous support and cloud resources available to organizations today, it is now easier than ever to find scalable solutions to bring your organization to the next level.
With multiple advancements in workplace structures and processes, many established corporations are having a difficult time adjusting to this rapidly changing and evolving business landscape. With digital advancements, knowledge-based services have become a major player in the business economy, as opposed to physical, tangible goods.
How is your organization competing in a knowledge-based economy? Read on to see if your business is taking advantage of the opportunities in this ever-evolving business economy.
Producing Tangible Assets Has Declined in Profitability
In today’s knowledge-based economy, tangible assets don’t have the same level of profitability as in past decades. This is due to the rapidly declining costs of production – when tangible goods and assets become more widely accessible, they become less profitable. For example, 3D printing is becoming an increasingly accessible technology that will only make the production of tangible assets easier. By putting an emphasis on building your organization’s knowledge-based goods and services, you put yourself ahead of the curve.
Investing in Your Knowledge Base is Crucial
The leading corporations of the future decades will be those that foster creativity, invest in innovation and remain flexible to ongoing changes in the marketplace. These days, the older, established “giants” of commerce are commonly disrupted by small, agile, start-up companies that utilize creativity and inventive new solutions that offer the same, or better, results with less overhead. More billionaires have been created in the last 15 years than in the previous 50 – and much of that has to do with the proliferation of the knowledge-based economy and the new opportunities it offers the marketplace.
Invest in your corporation’s knowledge-based services and you will be setting yourself up to succeed – and thrive – into the future!
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