Business is a socially legitimate activity that derives its right to exist via economic functionality and the capacity it creates for themselves, for its buyers, and for it is wider network of constituencies. It is in debt for its social legitimacy to the trust this inspires in employees and world at large; to its joint venture with governments and other substances in solving problems of social importance, and to the enduring dedication to delivering economic worth that functions the public good.
The Information Universe
In the developing world, you will find two key economic regimes or worlds: a bulk-processing globe yielding items that essentially congeal resources with a little knowledge underneath Marshall’s principles of reducing returns, and a knowledge-based part of the overall economy that creates increasing-returns virtual commodities, just like Hewlett-Packard’s personal computers. Companies inside the knowledge environment often have business that course both planets. But most likely, high-tech corporations separate all their knowledge-based operations from their bulk-processing ones.
The Management Environment
In the knowledge world, competition is definitely not a simple exercise in bargaining yet a series of quests to deliver the next technological winner–the next money cow. In this milieu, managers have to be even more mission-oriented than production-oriented. They need to organize commando units of people–those who can deliver the next product that will assist a company rich–in small teams that survey directly to the choosing a career in technical support CEO or to the board of directors.