Introduction
Business is a socially legitimate activity that derives its right to exist via economic performance and the capacity it creates for by itself, for its buyers, and for its wider network of constituencies. It owes its interpersonal legitimacy for the trust that inspires in employees and contemporary society at large; to its alliance with government authorities and other agents in fixing problems of social importance, and to it is enduring dedication to providing economic value that acts the public good.
The Information Globe
In the developing world, there are two primary economic regimes or worlds: a bulk-processing community yielding products that essentially congeal resources with a little knowledge under Marshall’s key points of diminishing returns, and a knowledge-based part of the overall economy that produces increasing-returns electronic commodities, just like Hewlett-Packard’s computers. Companies in the knowledge environment often have surgical treatments that amount both worlds. But in most cases, high-tech companies separate the knowledge-based surgical treatments from their bulk-processing ones.
The Management Environment
In the know-how world, competition is not a simple exercise in bargaining but a series of quests to deliver another technological winner–the next cash cow. In this milieu, managers have to be even more mission-oriented than production-oriented. They should organize commando units of people–those who can deliver the up coming product that will assist a company rich–in small clubs that record directly to the blog here CEO or to the board of directors.