Managing in knowledge‐based competition

Globalization and digitization with connectivity are fast transforming fundamental business assumptions. These two forces – more aggressive global competition and accelerating technological change, especially in information communication and Internet technologies – translate into competition that is increasingly knowledge‐based. This increasingly knowledge‐based nature of competition is driving change in how supply chains are being managed within and across firms. It also signals a demographic shift in the workforce to knowledge work whose mobile exponents demand a different type of work environment and executive leadership. There are also heightened demands from more knowledgeable customers. To manage in the knowledge economy characterized by diversity, complexity and ambiguity, firms must therefore harness the competencies of workers, suppliers and customers.