The growing use of information technology is instigating a new industrial revolution, believes DNV’s board member Maury Devine. ‘The explosive development of IT, the Internet, and globalisation are the key forces driving the transition to a knowledge-based society,’ she claims.
`Successful knowledge-based businesses are
built by highly motivated people, and demand visionary leadership.´
Constant change
Driven forward by better and cheaper IT systems, knowledge will be developed and distributed at an increasing pace in all types of technology and competence-based industries. Because knowledge is being continually improved, change will come more rapidly from all sides, believes Ms Devine. She says constant and rapid change will be the norm in the future. Instead of trying to resist this process, the challenge for business, society and the individual will be to master this transition and see it as a positive opportunity for progress. As an example, Ms Devine points to business models, profitability and mass production as ingredients that were and will continue to be part of a successful companys daily life. But knowledge, comprising intellectual capital, learning and know-how concepts that were almost foreign words a few decades ago is now the most important thing a company can acquire and develop. The question that is then raised is whether all companies have to change and put archaic mass production behind them and simply evolve through a commitment to knowledge.
Smarter companies
Ms Devine claims that there is no point in change for its own sake, but that acquiring and cultivating good ideas, developing new opportunities and realising new goals will prevent companies from becoming static. Through an active dialogue and the free flow of ideas, companies will become smarter simply because those working in them will become smarter. But achieving a good flow of new ideas does not take place by itself it has to be encouraged. Stimulating this process will provide fertile conditions for ideas that can be structured, systematised and implemented. One of the benefits of good ideas is that they are free and easy to distribute. Implementing them, however, requires substantial work and discipline. But it is then that a knowledge-intensive company starts to make money. Ms Devine claims that the key requirement of tomorrows leaders will be an ability to manage and motivate people to respond and adapt to change quickly. She does not believe that this can be achieved by standard organisational means. Successful knowledge-based businesses are built by highly motivated people, and demand visionary leadership which inspires and gives direction to new ideas and most important makes sure that good ideas become a reality, she concludes.