New Economy and Its Specifications
T.C. MARMARA ÜNİVERSİTESİ SOSYAL BİLİMLER ENSTİTÜSÜ İŞLETME ANABİLİM DALI YÖNETİM VE ORGANİZASYON (İNGİLİZCE) BİLİM DALI
NEW ECONOMY AND ITS SPECIFICATIONS (DIGITAL ECONOMY, INTERNET ECONOMY, KNOWLEDGE ECONOMY)
Yüksek Lisans
R. ERWİN PUTERA PAMUNGKAS SAPTONO
İstanbul, 2010
1. Introduction From around 1938 to 1974, the economy was built on a manufacturing base geared toward standardized production. It was organized into stable, hierarchical and generally autocratic organizations. These organizations achieved a competitive edge in the market by making standardized products faster and more economically. They focused on incremental cost reductions and a national marketplace. This is how success and prosperity were achieved in most states. (Jacquelyn P. Robinson, 2000) Now that companies can source capital, goods, information, and technology from around the world, often with the click of a mouse, much of the conventional wisdom about how companies and nations compete needs to be overhauled. In theory, more open global markets and faster transportation and communication should diminish the role of location in competition. After all, anything that can be efficiently sourced from a distance through global markets and corporate networks is available to any company and therefore is essentially nullified as a source of competitive advantage. (Michael E.Porter, 1998) Traditional concepts of the factors of production need to be changed - Was land, labour and capital, now need to add knowledge. A firm 's ability to gather, process and distribute information into enterprise wide knowledge is a core competence in competitiveness. http://www.scribd.com/doc/28758846/Information-Economy-and-Knowledge-Management; accessed on 26.12.2010
1.2 New Economy Define Competition in today 's economy is far more dynamic. Companies can mitigate many input – cost disadvantages through globlal sourcing, rendering the old notion of comparative advantage less relevant. Instead,
NEW ECONOMY AND ITS SPECIFICATIONS (DIGITAL ECONOMY, INTERNET ECONOMY, KNOWLEDGE ECONOMY)
Yüksek Lisans
R. ERWİN PUTERA PAMUNGKAS SAPTONO
İstanbul, 2010
1. Introduction From around 1938 to 1974, the economy was built on a manufacturing base geared toward standardized production. It was organized into stable, hierarchical and generally autocratic organizations. These organizations achieved a competitive edge in the market by making standardized products faster and more economically. They focused on incremental cost reductions and a national marketplace. This is how success and prosperity were achieved in most states. (Jacquelyn P. Robinson, 2000) Now that companies can source capital, goods, information, and technology from around the world, often with the click of a mouse, much of the conventional wisdom about how companies and nations compete needs to be overhauled. In theory, more open global markets and faster transportation and communication should diminish the role of location in competition. After all, anything that can be efficiently sourced from a distance through global markets and corporate networks is available to any company and therefore is essentially nullified as a source of competitive advantage. (Michael E.Porter, 1998) Traditional concepts of the factors of production need to be changed - Was land, labour and capital, now need to add knowledge. A firm 's ability to gather, process and distribute information into enterprise wide knowledge is a core competence in competitiveness. http://www.scribd.com/doc/28758846/Information-Economy-and-Knowledge-Management; accessed on 26.12.2010
1.2 New Economy Define Competition in today 's economy is far more dynamic. Companies can mitigate many input – cost disadvantages through globlal sourcing, rendering the old notion of comparative advantage less relevant. Instead,
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