In this week’s reading we have come to an understanding that technology was only created to assist us to perform our jobs in today’s world. It’s not a core reason why network today is so important and gained so much attention. However, we can’t live without technology advancement in networking as well. With the help of technology, social networking has become one of the most useful and significant tool for organizations to aid their staff to enable them to work at their best performance. This is reflected towards the growth of investments in technological industries and highly skilled labours in order to gain higher profits. The economy and the labour market are two sectors that are involved with vital changes in the related area.
According to the research, it is shown that knowledge based services significantly out run high tech manufacturing jobs. This indicates that there’s an increase in demand for more highly skilled workers in an area based on the use of their knowledge and information in the industry. This will provide and enable organizations to change to a firm level in order to maximize the benefits of using technology for most beneficial productivity. Also, because the jobs are highly skilled, higher wages are being paid compared to low technology industries. They are being paid higher not because of their personality, but mainly because of the knowledge and skill the person has to operate technology comparing to manual labour. As mentioned previously, due to the changes in technology, particularly from the beginning of information technology, this is the main focus of how the society is making educated and skilled labour more valuable than compared to unskilled labour.
I believe that it is known that knowledge plays an important role in the economy. This trend follows the revision of the leading economic theories and models and after years of research, it has finally been brought to reality. There are still researches going on to determine the foundations of the economic growth. Many organizations are investing in knowledge in order to increase the product varieties, as well as other factors of production to transform them into new products and new processes. This is due to the competition in the market which is very competitive and at a fast moving pace. This explains the key for improving is by using the new growth theories to clarify the details which will generate the long term economic growth.
Also, there’s much speculation that if many of these workers have a certain “skill”, they will have higher expectation towards the organization in many ways. This will usually drive their value up significantly. Money usually is not a factor here. Usually these skill workers have passion for something and they do it for creative and interest purposes. Sometimes these workers are attracted to the working environment because of the organization culture, moral standard, ethics, and etc.
I believe in the near future, the concept of working will have a new definition. It will not be up to organizations to decide whether they want to hire someone, but also what the employees are looking for in an organization and if they can provide the employees with their needs as well. Organizations must give more personal space to their employees; also to understand their personal, social, health needs and etc. Employees these days do not look at the organization status, but more of what the organization can offer them in the long run in terms of benefits and values. This is the best way to attract best employees in the field.
In this emerging information society, computer literacy and able to access to the network equipments have become more important comparing with knowledge based economy. There’s a need for knowledge based to continue to learn the use of information technology on the network. As accessing information over the Internet is much easier and less expensive, it is crucial to make efficient use of the information with required skills. The ability to know how to operate a tool, to select relevant information and disregarding the irrelevant, and interpreting and decoding information. All these can only be done through economic learning or education. Therefore, most organizations invest a big amount of money for the training, implement and put it in practices as you gradually progress and learn. Or before they hire someone, the basic requirement an employee must have is formal education as it is the platform of the knowledge based economy, the ability to apply and analysis theoretical knowledge. Also, when a firm does not have the require funds to learn or obtain a certain technology, they will have joined networks where interactive learning takes place in exchange of information for future innovation.
In order to succeed, firms must look at the national economy as a whole. I believe it is important to know the ways to develop, share and interact effectively with sub-groups and networks. Knowing who in particular as well. The economy is driven by the increasing speed of change and rate of learning. There are many opportunities in the network society to gain access to joint knowledge shared between individuals and firms. The ideas of innovations stimulate many new ideas and new opportunities for the market. Sources can be obtained from manufacturing, marketing of new products, production, development, services and etc. a strong communication model is required for innovation, that means, communication between different sectors such as firms and consumers, plus feedback between manufacturing and development.
Lastly, it has always been my philosophy that there’s always two sides to everything. The good and bad, the positive and negative. I realized most articles I have read so far are focusing more on the positive side. However, it is important to take note the seriousness of the cons as well. In this article for instance, it came to my attention that the labour market trend is facing a crisis. Due to technological change, skilled workers are listed as favorites globally. Wages between skilled and low skilled workers have a huge difference. Also, because of all these, most firms unconsciously change their perception and their behaviors toward the low skilled and the labour market.
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