Lecture #3 Jan 16th

Reading: Digital Knowledge Networks linking communities of practice with innovation.

If we think that 2o years ago to really get ahead and make a million dollars most people’s mind set was that they had to start a massive factory or become heavily involved with the invention of a physical product. Nowadays this concept has significantly changed in that some of the richest people dont neccesarily own any tangible assests yet they are inventors and innovators nonetheless. The shift of power is moving more toward the less tangible and as a result the less limited direction illustrated through the internet.  a simple idea/invention such as the technology/method behind the company u tube. u tube is a classic example of how a simple idea after a couple of years is worth a billion dollars. This is unachievable in traditional methods of business.  This just shows how the rise of information technology and electronic information netowrks has and can lead to advanced business performance. Imagine what opportunities the next step in technology developments will bring, especially to the business sector.