Sample Business Studies Essays On Dependence on Knowledge

Homework Question on Dependence on Knowledge

Explain the increasing dependence on knowledge of workers in business and provide at least two examples that illustrate the value of information in today’s economy.

     Homework Answer on Dependence on Knowledge

Introduction

A knowledge worker is an individual whose capital is basically the knowledge. Examples of such people are scientists, lawyers, physicians, planners, data analysts, researchers etc. alternatively they are referred to as knowledge entrepreneurs whose living is tied to their thinking, Gertler, M. S. (2005)

Dependence on knowledge in workers

With the current business trends, they constitute to the fastestgrowing sector. Institutions in the 21st century consider the services of knowledge workers as valuable in their production since they are primarily involved in the success of the business. This can be either through their experiences, interpretations or ideas. A key element that they have is that they are able to develop new strategies and provide technical advices to outweigh your competitors. Schienstock, G. (2007).

Homework Help

For example, a firm lawyer’s work is to provide legal advices pertaining to the business. They help in taking lead in negotiations and when the business is undertaking a partnership or a project with other companies. When a contract is made between companies, the lawyer is able to advice to ensure the legal procedures are well followed.