The shift to the information economy has changed the role of the manager in today’s
organization. Research has demonstrated that a majority of workers in this new knowledge
economy are knowledge workers or workers whose work output is the result of thinking
versus a physical process. Discuss what skills today’s managers need in the knowledge
economy that weren’t required a decade ago?
Organizations face more intense competition to survive and thrive in the age of the knowledge
economy. Knowledge economy is an economic system that relies on intellectual capital (Hayes,
2021). This means that intangible assets like ideas, knowledge, and intellectual properties are a
significant component of the value system. This is a drastic change from a few decades ago when
tangible and physical assets are the major source of value.
Consequently, today's managers require a set of skills that may not be required a decade ago.
Some of these skills are Information communication technology (ICT), Job-specific software
skills, cultural intelligence, and adaptability. Managers need to be familiar with skills to improve
their effectiveness and lead a global team of knowledge workers.
Information communication technology (ICT) is concerned with the use of basic technologies
that are needed in day-to-day activities (Doyle, 2021). It's a broad term that encompasses skills
related to basic computer software, exchanging emails, and other basic tools. Currently, all
managerial activities are requiring a certain level of ICT skills. The ability to enter, store,
manipulate, and share data is critical for managers.
Beyond basic computer skills, managers are required to have job-specific software skills. These
skills could include the use of open-source software, cloud computing, and other more
complicated software (Gamage, 2021). For instance, project managers are required to be familiar
with various computer-aided designs (CAD) software.
Another major concern is global challenges including cultural adaptation issues. Managers have
to lead teams who have different cultural backgrounds, languages, and beliefs (Earley and Ang,
2003). Therefore, managers should be familiar with cultural intelligence (CQ) to properly
manage these differences and channel them in a creative and constructive path.
organization. Research has demonstrated that a majority of workers in this new knowledge
economy are knowledge workers or workers whose work output is the result of thinking
versus a physical process. Discuss what skills today’s managers need in the knowledge
economy that weren’t required a decade ago?
Organizations face more intense competition to survive and thrive in the age of the knowledge
economy. Knowledge economy is an economic system that relies on intellectual capital (Hayes,
2021). This means that intangible assets like ideas, knowledge, and intellectual properties are a
significant component of the value system. This is a drastic change from a few decades ago when
tangible and physical assets are the major source of value.
Consequently, today's managers require a set of skills that may not be required a decade ago.
Some of these skills are Information communication technology (ICT), Job-specific software
skills, cultural intelligence, and adaptability. Managers need to be familiar with skills to improve
their effectiveness and lead a global team of knowledge workers.
Information communication technology (ICT) is concerned with the use of basic technologies
that are needed in day-to-day activities (Doyle, 2021). It's a broad term that encompasses skills
related to basic computer software, exchanging emails, and other basic tools. Currently, all
managerial activities are requiring a certain level of ICT skills. The ability to enter, store,
manipulate, and share data is critical for managers.
Beyond basic computer skills, managers are required to have job-specific software skills. These
skills could include the use of open-source software, cloud computing, and other more
complicated software (Gamage, 2021). For instance, project managers are required to be familiar
with various computer-aided designs (CAD) software.
Another major concern is global challenges including cultural adaptation issues. Managers have
to lead teams who have different cultural backgrounds, languages, and beliefs (Earley and Ang,
2003). Therefore, managers should be familiar with cultural intelligence (CQ) to properly
manage these differences and channel them in a creative and constructive path.
