As we all have heard and seen, technological advances have greatly changed the manner in which businesses operate.
Organisations use technology in many ways, they have
- Technology infrastructure such as the internet and other information exchange systems including Telephone
- Technology systems incorporating a multitude of software which help them manage their business
- Technology hardware such as mobile phones, Blackberrys, laptops, desktops, bluetooth devices, photocopiers and fax machines which transmit and record information.
Technology has created a society which expects instant results. This technological revolution has increased the rate at which information is exchanged between stakeholders. However, an ability to react quickly also creates extra pressure as businesses are expected to deliver on their promises within ever decreasing timescales.
For example – The Internet is having a profound impact on the marketing ix strategy of organisations. Consumers can now shop 24hours a day from their homes, work, internet cafes and via 3G phones and 3G cards. Some employees have instant access to e-mails through Blackberrys but this can be a double-edged sword, as studies have shown that this access can cause work to encroach on their personal time outside work
Technology will continue to evolve and impact on consumer habits and expectations, organisations that ignore this fact, face extinction…
If technology is where it is today, imagine the possibilities of Creativity in the market place in future…
The Knowledge Economy as we know it is being eclipsed by something new, let’s call it the Creativity Economy. Even as policymakers and pundits wring their hands over the outsourcing of engineering, software writing, accounting and other high-tech, high-end service jobs; companies are evolving to the next level of economic activity.
What was once central to corporations — price, quality, and much of the left-brain, digitised analytical work associated with knowledge; is fast being shipped off to lower-paid, highly trained Chinese and Indians, as well as Hungarians, Czechs, and Russians. Increasingly, the new core competence is creativity; the right-brain stuff that smart companies are now harnessing to generate top-line growth. The game is changing. It isn’t just about math and science anymore. It’s about creativity, imagination, and, above all, innovation.
“What is unfolding is the commoditization of knowledge. We have seen global forces undermine autos, electronics, and other manufacturing, but the Knowledge Economy was expected to last forever and play to America’s strengths: great universities, terrific labs, smart immigrants, an entrepreneurial business culture.
Oops. It turns out there are a growing number of really smart engineers and scientists “out there,” too. They’ve learned to make assembly lines run efficiently, whether they turn out cars or code, refrigerators or legal briefs. So U.S. companies are moving on to creating consumer experiences, not just products; preconceiving entire brand categories, not merely adding a few more colours; and, above all, innovating in new and surprising arenas.” Business Week