The New Competition
The New Competition
Today, it is important for organizations to get the right people with the right knowledge into the jobs that suit them best to attain success. The rise of new technologies led to a major revision in the way division of labour was understood. With the post-industrial society, meritocracy is observed as differential status and differential income is now based on higher education and on technical skills. The competitive advantage of companies in the knowledge-based economy (KBE) no longer depend on mass-produced and standardized goods and services but on technological innovation, applied knowledge, and the knowledge capital of a highly skilled workforce. The consensus view promotes democratization and ‘diversity’, thus, a more ‘scientific’ approach is used in recruitment to match individual capabilities with the requirements of managerial and leadership roles in an organization.
Keywords: new technologies, meritocracy, consensus view, technical skills, higher education, knowledge capital, skilled workforce, democratization, diversity, knowledge-based economy
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