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THE ROLES OF STRATEGY, TECHNOLOGY AND LEARNING IN A KNOWLEDGE ECONOMY
Table of Contents
Introduction    3
The Role of Strategy in the Knowledge Economy    3
Role of Technology in Knowledge Economy    4
Role of Learning in Knowledge Economy    5
Leadership in Knowledge Economy    5
Challenges in Knowledge Economy    6
Conclusion    6
References    7
Introduction
Revolutions in different technologies as well as globalisation have transformed the present time economy into an ultra-modern form of economy, which is proudly known as the knowledge economy. Various studies conducted by scholars, analysts and critics have stated that the paramount stage of the economy in various developed countries is being steered and managed by different technologies based on the skills, knowledge, expertise as well as on the information of the products and dissemination of the products (Hadad, 2017).
These newly developed technologies that were observed to be emerging in the late 1950s, stretched with the multiplication of personal computers and then spiked extensively with the high use of the internet as well as email worldwide. This had the substantial ability to change the economy as well as the inherent features, characters and variety of work (Page, 2019). This essay explains the roles of strategy, technology and learning and discusses its challenges in a knowledge economy. It also reflects upon the challenges of leadership in a learning organisation.
The Role of Strategy in the Knowledge Economy
The context of strategies is very crucial in the knowledge economy, since it is highly understood in the management as well as administration of literature. Strategies emerge as an outcome of resources, which are interior to the organisation or the firm and reactions to the extrinsic and outermost changes in the conditions of the market, the changes in the technologies, the beginning of some new markets, changes in different policies, as well as enhancing the competition of the organisation. The formulation of strategies in organisations in order to get specific resources to support, such as the expertise and knowledge of management, as well as path based learning in the knowledgeable and cultivated analysis (May & Perry, 2017).
The strategic arrangement in any knowledge economy based organisation is resolute and set by the organisation where the strategy usually operates. The strategies in any organisation are of the crucial factors because of the supremacy as well as ascendancy of the manufacturing organisations in the analysis of the strategies of the organisation or any firm. Organisations that follow knowledge based economy whose gains and profits used to be obtained from dispersal and administration such as entertainment or retail, follow distinct as well as different arrangement of strategies than the manufacturers of products for the intervening inputs or customer markets (Bolisani & Bratianu, 2018).
The characteristics of the knowledge based economy and the organisations are crucial and have been illustrated as outshining different sources of distinction. For example, French Carrefour or German based Metro has non-identical strategies than Wal-Mart, which is a United States originating company, despite the fact the both of them are retailers of food and are managed as well as administered internationally (Braga et al. 2018).
The strategies act as a crucial pillar in the framework of knowledge economy. The strategies help in enhancing the capability of the alteration and reorganisation of the organisations. Strategies helped in enhancing the capability of innovation in order to enhance the ability to initiate...