Question

The shift to the information economy has changed the role of the manager in today’s organization.   Research has demonstrated that a majority of workers in this new knowledge economy are knowledge workers or workers whose work output is the result of thinking versus a physical process. Discuss what skills today’s managers need in the knowledge economy that weren’t required a decade ago?

Answer 1

Knowledge economy:-

Knowledge economy refers to a transformed economy where 'investment in knowledge-based' assets such as Research and Development, Design, Software, and human and organizational capital has become the dominant form of investment compared with investment in physical assets – machines, equipment, buildings, and vehicle.

The skills today's managers need in the knowledge economy that wasn't required a decade ago are that the workers need to be

• More flexible with the application of the knowledge.
• Some sort of qualification is mandatory to join the workforce.
• preference of skills in research and education development
• Continuous innovation and learning into job roles to acquire new skills time-to-time.
• Higher knowledge is required for the production of new knowledge and its adaptation. Higher level vocational skills undoubtedly offer an economic return even if it is not as significant as from higher education.