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Thursday, 13 October 2011

Knowledge Economy-Unplugged!!



At a recently held TiECON, speaker after speaker used the word  “Knowledge Economy”. My young entrepreneur friend Vijay Kumar who travelled all the way from Bhopal to attend the TiECON, sitting beside me loudly asked me  “Raj Sir, yeh Knowledge economy exactly hai kya ?”.I murmured something about knowledge economy to him however  couldn’t give him a convincing reply. I came back and did some research on the topic of “Knowledge Economy and found a very relevant speech made on the topic by Knowledge Guru of our age,Dr A P J Kalam.
I reproduce a speech by Dr A P J Kalam which he made at ASSOCHAM organised Summit titled  “Knowledge Millennium”. In his speech he talks about old economy and knowledge economy in terms of yesterday and today. Extracts from the same are as under:
  1. Yesterday-natural resources defined power. Today-knowledge is power.
  2.  Yesterday-hierarchy was the model. Today-synergy is the mandate.
  3. Yesterday-leaders commanded and controlled. Today-leaders empower and coach.
  4. Yesterday-shareholders came first. Today-customers come first.
  5. Yesterday-employees took orders, Today-teams make decisions.
  6. Yesterday-seniority signified status. Today-creativity drives status. 
  7.  Yesterday-production determined availability. Today- Competitiveness is the key.
  8. Yesterday-value was extra. Today-value is everything.
  9.  Yesterday –everyone was a competitor. Today-everyone is a customer.
  10. Yesterday-profits were earned at any costs. Today-work with integrity and succeed with integrity is the mantra for every entrepreneur. Profits would follow, anyway.
Let me tell my entrepreneur friends that with India as a nation looking forward towards achieving an economically developed status by 2020,it is all the more imperative for entrepreneurs to know and adapt the above points in their day to day business environment to succeed in “Knowledge Economy”.

Vijay, hope the above  answers your query finally about the “Knowledge Economy”.
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3 comments:

  1. Pradeep (PK Singh)14 October 2011 at 00:24

    These are real pearls of management wisdom, no management institute or professor could have summed it so well as Dr APJ Kalam.
    Today's world is knowledge world,the technology and the environment gives you and everyone access to it, one needs to stay updated and abreast with it otherwise you will loose competitive advantage to your competitors.

    ReplyDelete
  2. Ruchi Mahna14 October 2011 at 02:00

    Good One shared Raj !

    ReplyDelete
  3. Anjali28 October 2011 at 03:16

    Raj .this is a real find.. Thanks for sharing!
    Dr. Kalam sparks the fire in the
    "Ignited minds" !!

    ReplyDelete

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