Management organisational learning knowledge MOLK Essay

Management organisational learning knowledge MOLK - Essay Example On the basis of neo-classists, the last two hundred years have witnessed the replacement of the two known factors of production, labour and capital. Information and knowledge have arisen to replace the above two factors. It is at this stage that the economy has come to be referred to as a knowledge economy. In addition to this, the present technological advancements have revolutionised the economic world. The move has been characterised by the shift from physicality to knowledge based (Dolfsma 2006). To offer support to the knowledge economy has been the developments in the mobility of both information and human expertise. This implies that technological developments can in a very easy way be transmitted across country borders in an instance. Of note here is also the ability to move expertise from place to place, an attribute that narrows the development gap between companies. So the advantage that could be gained by a researching company is washed away as such knowledge can easily be replicated elsewhere within a very short period of time. The only enjoyment of a company in this era could only emanate from the activities of innovations within the company. Through the combination of knowledge and market know-how, a company would be in a position to derive a competitive status. Equally important would be the ability of a company to gather and act on meaningful information. This reflects the economic environment as one that is basically driven by knowledge, hence the reference to the knowledge economy (Debra, M 1997). The need to be in possession of better skills and qualifications underlie the sustainability of employment status. This is the basic work ingredient that ensures that individuals secure employment and most importantly retain the jobs or enjoy the likelihood of shifting to better opportunities when they arise. Once people have secured work, the learning process does not need to end there. This is so because the global economic