Nobody downloaded yet

Employability in the Knowledge Economy - Essay Example

Comments (0) Cite this document
Summary
Sheehan and Tegart describe Knowledge Economy as an overall emerging economic structure (1998) with the rise in knowledge intensity and increase in globalization as the two major driving forces in the economic activities. Information technology revolution and the fast paced…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.7% of users find it useful
Employability in the Knowledge Economy
Read TextPreview

Extract of sample "Employability in the Knowledge Economy"

Download file to see previous pages Besides being pervasive, its central features of manipulation, storage, and transmission of large amounts of data at low cost, has made the IT revolution to influence every element of the economy as well as business chain. From its significant impact on both goods and services to R&D, production, marketing, distribution, and customer management, the overall knowledge application of knowledge to all facets of economy has been greatly simplified; and with this the knowledge intensity of economic activities has amplified. Besides this, globalization has increased with global competition, removal of trade barriers, FDIs, easy transfers of technology and capital, and network oriented economic activities.
The concept of knowledge economy does not merely revolve high technology or generation of new knowledge, in fact it centers on the exploitation or effective use of all type of knowledge for the creation of wealth (Dahlman, n.d.). The nature of knowledge economy has been explained in terms of the significant role of knowledge as a factor of production and how it impacts on learning, skills, and innovation in the business organization. With the help of information and communication technologies, knowledge is increasingly becoming systemized which is leading toward information diffusion. This in turn is stressing for the possession of knowledge-based skills by human resource. Learning is in focus for both people and business organizations. (Houghton & Sheehan, 1999)
For the purpose of employability, business leaders constantly advise people to acquire the skills, knowledge, and capabilities that are required by employers in the increasingly knowledge-driven economy (CBI, 2001). Drucker (1993) suggests that production is no longer driven by natural resources, capital, or labor, but ‘innovation and productivity’ – the major applications of knowledge. Since technological ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Employability in the Knowledge Economy Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Employability in the Knowledge Economy Essay Example | Topics and Well Written Essays - 2000 words. Retrieved from https://studentshare.org/miscellaneous/1561350-employability-in-the-knowledge-economy
(Employability in the Knowledge Economy Essay Example | Topics and Well Written Essays - 2000 Words)
Employability in the Knowledge Economy Essay Example | Topics and Well Written Essays - 2000 Words. https://studentshare.org/miscellaneous/1561350-employability-in-the-knowledge-economy.
“Employability in the Knowledge Economy Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/miscellaneous/1561350-employability-in-the-knowledge-economy.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Employability in the Knowledge Economy

Employability

...competition, the employees are looking for better opportunities in order to develop their knowledge as well as skill. Organisations in present condition, at times hire an individual on a short-term basis. As a result, there is no employment assurance for an individual. The organisations are incapable of fulfilling the psychological contract as demanded by an employee due to various reasons. The training and development as required by an employee from an organisation requires both time and resources for conducting such program. An organisation has less time to allocate the entire resources for the programs for employee. To fulfil this need, other employees need to be allocated in place of one who...
6 Pages(1500 words)Assignment

Employability in a Knowledge

...and to be in synch with the changes and developments happening at around you. There is a need to constantly keep yourself updated and enhance your skills and knowledge if you have to succeed in the line of education. In order to succeed in a career of ones choice is it absolutely critical to understand how one can stay employable irrespective of the economic scenario and labor market conditions. From this perspective understanding what employability is and its correlation with knowledge and formal education is of paramount importance. Hillage and Pollard (1998:1) suggest that ‘employability is about having the capability to gain initial...
5 Pages(1250 words)Essay

Graduate Employability

..., SANS and CISSP. Most companies require candidates to have more than five years experience in an Information Security environment (Vegas, Juristo & Basili, 2009). The candidates should also have knowledge of operating systems, firewalls, risk assessment, IDS/IPS and the Internet protocols. The candidates should be able to demonstrate a high degree of credibility and influence senior stakeholders of the organisation during installation of security systems. Employers require candidates to provide a proven record of accomplishment of having successfully delivered business requirements in time and within budget constraints. Among the skills required in this occupation, include communication, presentation, leadership, self-starter... ? A REPORT...
8 Pages(2000 words)Essay

Knowledge Economy

...The global interaction of knowledge and technological development is increasing rapidly and is recognized as being an essential feature of the world economy (Archibugi & Pietrobelli, 2003). Drawing on knowledge is conceded to be a core element of facilitating economic growth nationally, and subsequently internationally. The term 'knowledge economy' is used to represent the ever increasing importance and value that is placed on knowledge in the 21st century. A knowledge economy involves organizations that employees acquiring, creating, disseminating and practically applying knowledge in an...
4 Pages(1000 words)Essay

Knowledge Management business and economy

...How Metadata Repositories and Data Mining are Used in Knowledge Management by [Insert s s Insert Identification information here] [Insert Professors name here] [Insert Submission date here] [Insert Names of Author(s)] [Insert Course Identification information here] [Insert Professors name here] [Insert Submission date here] How Metadata Repositories and Data Mining are Used in Knowledge Management Notes According to Thangarathinam, et al., (2004), metadata management contributes in the understanding of the information, its location, and the value it provides to users. Metadata is information about data. It answers the who, what, when, where, why, and how of every piece of data being documented...
5 Pages(1250 words)Essay

Knowledge Economy in The UK

...To What Extent And Why Is A Knowledge Economy Possible in The UK Context Economies are achieved when diversification allows a shared input on organisational level to share knowledge across divisions. Knowledge economy, while confronting many economic restrains view 'knowledge' as a product to understand and communicate between global information society and culture. Storey (2001) suggests that such economies require a detailed knowledge of the processes involved by the corporate sector, organised in a geographical manner (Storey, 2001: 70) targeting many origins. Therefore it is better to...
9 Pages(2250 words)Essay

Enhancing Employability

...Enhancing employability Introduction Process by which searching for the right candi to perform a specified task is referred to Recruitment. The process starts when a new recruit is sought and accomplished when their applications are submitted. This gives so many applicants and it is from this point where new employees will be selected. This process helps to discover human manpower to meet staffing requirements and also helps to attract effective and efficient manpower. (Pinnington et al, 2003). Recruitment is a function preceding the selection that helps create potential employees for the company so that management can select the right person for the job from the pool. The main objective of this process is to ease the...
4 Pages(1000 words)Essay

Employability Portfolio

...and also, to gather some experiences of real life. Additionally, I have engaged myself into some sort of voluntary organization, for example, blood donating organization, schooling for underprivileged slum children, etc, which enriched my managing capacity and practical knowledge. I think, I will be able to relate the both side- internship requirements and my personal attainment. The crucial thing is that I am yet to complete my academic accomplishment and have to go through practical field. For that reason, I need to be coped with applicability of academic theories and knowledge. So, it just a matter of time and practical tasks I will go about. In that way I will be able to fill the gap and will be...
6 Pages(1500 words)Coursework

Employability skills

...Employability Skills s: INTRODUCTION Most discussions echoing around on lackof employability skills especially among recent graduates are deafening. This concern should be addressed with high definition quality glasses. Its debatable since some individuals are normally cynical in their perception by vocalizing issues using nutritious words to the ear hence blinding the public. However, if this is keenly filtered through the screen of truth, it will help to determine whether to vindicate their sentiments appropriately or not (Rao, 2010). Bupa Health Insurance is an international company based in the UK driven by the purpose of assisting its clients to live longer, healthier, and happier. The company offers...
10 Pages(2500 words)Essay

The Knowledge Based Economy

...The Knowledge Based Economy Affiliation The Knowledge Based Economy The government of New Zealand can adopt some policies to facilitate collaborations between universities, research institutes and businesses so as to transition the economy into a diversified, knowledge-based economy. These policies will be based on regulation, allocation, and distribution. Using regulation, the government’s policy would be to promote organizational change. This will facilitate the transition of technological change into productivity gains that will ensure organizational changes and as such, raise flexibility (OECD, 1996). These changes...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Employability in the Knowledge Economy for FREE!

Contact Us