In what way or ways is the current knowledge revolution a child of the industrial revolution

Europe, to To the end of the early modern period, Europe remained a preindustrial society. Its manufactured goods came from small workshops, and most of its machinery was powered by animals, wind, falling water, or human labor. These two facts reinforced each other, and together they constricted Europe's economic development.

In what way or ways is the current knowledge revolution a child of the industrial revolution

Creating Value from Knowledge in the Knowledge Revolution by Ruth Rikowski Today, we are moving into the knowledge revolution, which is the latest phase of capitalism. This knowledge revolution is dependent on knowledge, information, skills, human capital, intellectual capital, ideas, services, intangibles, brainpower, education and brand names.

The first industrial revolution was based on investment in capital and machinery. The revolution we are going through now requires investment in human capital - skills, learning and education.

Byers, Meanwhile, Potter said: My thesis has been that we are in the relatively early phases of a major economic revolution. This revolution is based around the concept of a post industrial era where making things is increasingly automated and routine; creating things is difficult and value therefore derives from creation and from the intellectual capital or knowledge base of the firm or nation.

So, value today is being derived more from knowledge itself, rather than just from the production of manufacturing goods. Obviously, knowledge also plays some part in the production of manufacturing goods. However, today, knowledge and ideas are also being sold and marketed in their own right, such as through the selling of a patent or a brand name, and through this process value is being derived from knowledge.

In what way or ways is the current knowledge revolution a child of the industrial revolution

This is in contrast to the 'first industrial revolution' where value was largely extracted from tangible goods. A consideration of value in the current business and information literature The importance of creating value itself for the continued success of the economy has been recognised by many in the business and information world today.

Tapscott, for example, says that: Innovation drives everything and competitive advantage is ephemeral. Firms must constantly seek new ways to create value.

KM is different in that it focuses on future valuerather than short-term profit. So, Green emphasises how knowledge management KM can create value. Furthermore, that it is also increasingly being recognised that value must be clearly differentiated from profits.

As Welch also says: The organisation has to recognise that its prime objective perhaps its only objective is to add value. NOT to cut costs. Making more profit, increasing the share price, increasing the value of intellectual assets including brands is what makes a company fit to survive.

I conducted semi-structured interviews with KM experts from both the private and the public sector, across a range of organisations. This included both information professionals and non-LIS staff.

I also undertook some research in a number of KM focus group sessions. In order to ensure anonymity throughout the research, a simple code was used; for example, P1 for participant one and P2 for participant two.

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When considering profit and value, one of the participants, P8, said: I think value must be measured on a number of different.

Profit is one amongst a number of measures of value. My emphases Meanwhile, when I asked P11 about the difference between value and profits she said that value: We can point to some, because we change peoples' roles and see them as being more efficient. But will it win us more projects?

That's a bit harder to say. It's a bit hard to do that. Upon asking P10 whether he thought that value was different from profit, he said: That appears to be black and white. Increasing our knowledge, that we might be building an organisational capability that would give us profits.

That clearly creates value.

In what way or ways is the current knowledge revolution a child of the industrial revolution

Thus, several of the participants clearly thought there was a definite difference between value and profit, and that value somehow encompasses more and can help to provide long-term sustainability for companies.

However, although businesses largely recognise that there is a difference, much of the business and information literature does not really explore what this difference actually is.The psychological impact of the Information Revolution, like that of the Industrial Revolution, has been enormous. It has perhaps been greatest on the way in which young children learn.

In what way (or ways) is the current Knowledge Revolution a child of the industrial revolution? Is this a new revolution or simply an extension of the 18th-century revolution?

Given the history, is it perhaps more appropriate to call the current revolution a Communications Revolution? Mar 13,  · Best Answer: I like the idea of calling it a revolution in communication rather then focusing on the knowledge.

As to being a child of the industrial revolution: It sure is. The technology we use would not be possible without the industrial initiativeblog.com: Resolved. Today, we are moving into the knowledge revolution, which is the latest phase of capitalism.

This knowledge revolution is dependent on knowledge, information, skills, human capital, intellectual capital, ideas, services, intangibles, brainpower, education and .

Like the industrial revolution, the knowledge revolution is reordering the ways that people relate to one another and to work.

The instant availability of information has broken down the walls separating individuals, institutions and economies. The Industrial Revolution was the transition to new manufacturing processes in the period from about to sometime between and This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, the increasing use of steam power, the development of machine tools and the rise of the factory system.

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