Organizational Growth Strategies: The Competitive Edge In The New Economy

Abstract

It is said that smart people need smart organisations; in the new economy, the name of the game is integration and cooperation for competitive advantage. Organisations should deploy work practices that encourage the development of employee skills and foster social connections across employees in order to raise productivity and improve organisational performance. This is paper two of this study examines Organizational Growth Strategies, the Competitive Edge in the New Economy. The study employs a qualitative approach as its research design. The research finding indicates that for organisations to make use of experience and intelligence, they must provide a sharing environment, empower people with tools, and create a climate for learning and testing new ways of conducting businesses in the marketplace. Enterprises seeking to compete in the emerging new economy, not only have to apply knowledge to existing situations, but also should be able to rapidly reconfigure knowledge to meet emerging needs. Accordingly, creating a workplace where knowledge is shared and where people are encouraged to learn and to take action on those lessons learned is the surest
way to compete in the market-driven economy. Thus, the key idea is that if current ways of working, that is, the organisation routines are insufficient, then the enterprise must learn new ways of doing things in the knowledge-age economy.