Chapter 2Human Resource Management in the Knowledge Economy
“Knowledge is the most democratic source of power.”—Alvin Toffler
“I don’t believe evolution is about survival of the fittest.I believe it is about survival of the most useful.”—John Woods
What is the knowledge economy? The knowledge economy encompasses all jobs, companies, and industries in which the knowledge and capabilities of people, rather than the capabilities of machines or technologies, determines competitive advantage. Of the 19.5 million jobs that are projected to be created in the United States from 1998 to 2008, 19.1 million of them will be in the service sector (Hecker, 2001). From retail sales to computers to biotechnology, these jobs will be more knowledge-intensive in ...
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