Trends for a Knowledge Innovation Based Economy

1

Networks

The influence of computing, network grids, business, and community networks is spreading, particularly the communities-of practice phenomenon. Enterprises are operating as holonomies: the ‘network’ is becoming the business;

2

Change

Being flexible, adaptive, open to change, open to new ideas and willing to unlearn old ones, are essential management qualities. Innovation is the implementation of effective change management. However, rapid change is also elevating risks and stress; 

3

The Internet

The world wide web has spawned new communication capabilities, connectivity, market opportunities, communities, content and innovations, and preempted the arrival of the e-economy. It has also enabled the migration and shift from place to space, facilitating real-time service-delivery; 

4

Business Models

Competition between business models – as well as products and services. Patents are being awarded for innovative and original business models;

5

The War for Talent

A ‘free agent nation’ and the ‘talent war’ – the dynamic marketplace for know-how, expertise and experience is expanding. This leads to the need for effective personalization of services, better one-to-one customer relations and a focus on customer/stakeholder success;

6

The Virtualization of Markets

The virtualization of markets for everything – we are seeing a shift towards fast-paced electronic markets and the spread of virtual organizations and communities as knowledge flows freely across boundaries;

7

Globalization

Interdependency and interconnectedness is facilitating the ‘death of distance’. Mergers and acquisitions create an ever larger global conglomeration. People’s intangible value, in interaction with one another, is the critical performance metric;  

8

Open Source

Open source – open-source software is growing and citizens desire Openness and transparency in governance, while a parallel countertrend towards securing intellectual-property rights is also in evidence;

9

Growing Value of Intangibles

Growing value of intangibles – creativity, innovativeness, reputation, technological prowess, diversity and brand are enabling the growth of weightless wealth and digital and intellectual capital. Ideas are the new currency and reporting is now required by FASB and the IASB;

10

From Industrial to Digital Economy

The global economy is shifting to one centered on information, creative ideas, knowledge and the bio-economy;

11

Visualization

I visualize, therefore I can do – imagination and visualization technologies are pre-cursors to deep-knowledge mastery, high levels of expertise and improved performance. Computer-enhanced visualization technologies are enabling us to model, simulate, understand and then act;

12

The Emergence of Zones for Knowledge Innovation

The expansion of the knowledge-based economy is spawning a growing interest in deep-knowledge clustering, pools of expertise and high-tech facilities in KIZs. These zones are enabling new forms of enterprise, collaboration, co-operation, R&D, innovation, knowledge sharing, and commercialization of ideas, between the private sector, government and academia.