Lecture 3
February 3, 2007 at 1:29 pm | Posted in Knowledge | 3 CommentsIt is essential today for businesses to keep up to date with information and knowledge, in order for them to maintain a competitive advantage in the market. Connectivity plays a key role in businesses being able to access info. The most recent technology is often essential for businesses to keep their processes up to date.
The constantly changing environments and economies puts pressure on firms to be constantly innovating.
Things become irrelevant very quickly.
The internet has allowed businesses to transact internationally with ease. Geographical boundaries no longer exist and global trade is becoming much easier.
Capital and fixed assets are becoming a thing of the past. We have moved from the industrial to the post industrial era otherwise known as the knowledge and info era. Ideas are becoming more and more important. Large amounts of capital and assets are no longer needed for a sucessfull business. Take trade me for example. That started with a simple idea and was eventually sold for millions!
Information are knowledge are the key in today’s society, but to gain access to this, bussinesses need to be in touch and connected to the latest technology and software.
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I think you have made a very good point. It is essential these days for businesses to keep up to date with information and knowledge in order for them to gain a competitive advantage in the market. My father is in the motor trade industry and the internet is now essential for him to keep up with the play. When he first started his business many years ago he rarely used the internet and didnt no much about it at all but the way things have gone now it is essential for him to use this tool. As you metioned, globalisation can play a major role in maintating a competitive advantage. Through use of new technologies, various markets can be linked and opportunities arise as a result. An example of this is how you can buy a vehicle in one country for a few thousand dollars and sell it in another country/market for litraly 10 times what it was brought for. This can all be done from little old New Zealand without even seeing the vehicle. Online vehicle auctions are a classic connectivity example of the motor trade industry being enhanced through the internet.
I agree with the idea that businesses are creating more and more value in intangable assets. It is definately the way of the future. The general public is still only comming to terms with this idea, majorly stimulated with the publicity of the trademe and utube sales, however we still have a long way to come. For example, internet based ventures currently are unable to gain finance from banks through start-up conditions which traditional and more common business would be have accepted. This means that although more value is being place in ideas and non-tangable assets, these assets are not allways easily recognised..
Using an ideas to become rich these days seem to be the way to go rather than relying on the traditional capital and fixed assets to build a business.
Comment by lucyashton— February 4, 2007 #
This is also a good point. More and more value is being placed on ideas today and these ideas are being created from research (or Intellectual Capital) which is gathered from the information that is becoming even more freely available. This introduces the topic of knowledge management. KM programs attempt to manage the process of creation or identification and application of knowledge accross an organisation. These programs are becoming essential in order to make sense of the mass information that is avaialable and to stop knowledge from leaking out from an organisation. This again ties back to the fact that organistaions must be up to date with technology and new programs such as KM in order to keep up with society.
Comment by alh71— February 4, 2007 #
Through tagging, I found a related blog that talks about the importance of knowledge and how the internet has allowed us access to this knowledge and in turn how it is shaping organisations in society today.
Here it is:
The internet as a social entity The internets remarkable rise in such a short period of time has changed the world enormously. When time is taken to look at the internet, its role within society and its affect on everyday life of people it is easy to see that the internet is influencing and reshaping the entire world, even those places where it is barely even known or used. When looking at the internets lifetime it is hard to believe that anything could affect the lives of so many in such a short period of time. It is exciting to learn how much it has developed. Improvements like its availability, speed and sophistication leave the door wide open for what the future holds. The internet has taken on a life of its own. The internet itself has continued to improve and it appears that as it does people and society tend to change in their own ways accordingly. The idea of using the internet to share information across countries would have not been its’ main reason for developed but as time has moved on and technology improved it is now one of the key uses for the internet. In the space of 13 years, since WWW came about the internet has broken down cultural, international and language barriers in all aspects of life sport, business, leisure and travel. It really has made the world smaller. I really enjoyed the quote from Marx. I think it really gets you to think about who or what is controlling our future. For example, do we use the internet to give us information so that we can get things done, help us make important choices on where to travel and what to buy? So that we can be in charge of our lives. Alternatively, is the internet simply spitting predetermined answers with existing paths and finish lines, thus choosing for us what social group we will dress like, what brand names we will buy and what news stories we will believe?
Tags: Knowledge • network culture
Comment by alh71— February 4, 2007 #