How would I make myself viable in terms of knowledge and capabilities in a knowledge economy?
Knowledge is everything. Without
knowledge you cannot gain skills or specialize on something. Many jobs out
there that produce goods and services needs intensive specialized skills.
Information is key. It is what drives productivity which leads to more revenue.
Technology is getting more better. The growth is increasing in a rapid pace.
Workers needs to keep up if not they will be left behind. Companies will hire
more younger newer employees who are up to date. In order to stay in a company,
one must train and get more knowledge. The demand for higher skilled labor is
growing.
Knowledge economy is important. Why
is that? Because it will help businesses out there to be more efficient,
dynamic and innovative. The products which companies produce will be creative and
different.
Despite the benefits on knowledge
economy, there are problems with this. The gap between high skilled and low
skilled workers may have increased due to decline in well-paid manual labor.
There are a lot of other factors that affected increased inequality wages, but knowledge
economy is one of the possible reasons. Those with low skills and knowledge
will end up with temporary and low paying jobs. Finally, there are limited
number of highly skilled jobs. This creates many competitions between workers.
This also demands high qualification.
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