The Knowledge Economy

Trendsemerging from the 4 workshop series in 1996 / 97 on CorporateFutures

The Informed Consumer access to real time, accurate information is enabling consumers to make far more informed and conscious decisions about every aspect of life. These technologies also give consumers the ability to monitor the actions of organisations. The role of trust and visibility within the system is crucial, and will influence how consumers manage the ever more intimate relationship with suppliers. Greater two way market transparency will develop - through inherent feedback loops and sensitivity within the system, but also reinforced by tight contractual controls.

Organising in the New Economy with changing work patterns comes a changed basis for coming together: interest and choice rather than necessity. Culture and values are likely to become core differentiators between communities both on an organisational level and in terms of local communities. Capturing the soft information and knowledge inherent in those communities becomes a key competitive advantage.

Competencies and the Competition for Knowledge the boundaries of the knowledge base are shifting, with greater emphasis being placed on tacit or informal knowledge and skills. The significance of emotional intelligence, communication skills, personal awareness and understanding in enabling individuals to maintain their own levels of employability will increase. Our ability to capture informal skills and abilities real-time is increasing and with it our ability to formalise those skills.

Smart Markets visibility and real time information about actions and transactions in the marketplace is transforming how consumers and organisations interact. Consumers can move through a spectrum of realities from virtual reality where they can create an identity; through responsive realities where the integration of technologies into products and buildings enables them to respond to individuals; to personal reality where the individuals own perceptions define their reality. Their electronic footprints, the density of information available and the personal value bank create new opportunities for advice, support and genuinely targeted products and services. They also create the potential for a consumer backlash against exploitation and forced intimacy.

 

See too Summary from The International Futures Future 1998, articles on The Quaternary Hypothesis and Future Youth Values