New approaches to strategy: new ways of thinking for the millennium

Much has been written about the impact of the millennium. The plain fact is that much of what will happen in the early part of the next millennium is already happening. This is not to underestimate the effects of such change. Perhaps chief among all of the major forces for change which will affect organisations and the way in which they are managed will be the impact of knowledge. The need to base competitive strategies on intellectual capacity will directly influence management processes and organisational forms. The paper draws on the work of influential writers in the area of environmental change and knowledge management and attempts to trace the linkages between the need to actively manage knowledge and the resultant changes in organisations. Finally the point is made that although we may be in a new information age the concept of knowledge based strategies is not new and predates the industrial revolution.