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Rationalizing Market

Various observers describe today’s global economy as one in transition to a ‘knowledge economy’, or an ‘information society’. But the rules and practices that determine success in the industrial economy of the 20th century need rewriting in an interconnected world where resources such as know-how are more critical than other economic resources.

Over the years various management writers have highlighted the role of knowledge or intellectual capital in business. The value of companies in high-tech industry verticals such as software and biotechnology, is not in physical assets as measured by accountants, but in their intangibles such as knowledge and patents. The last few years have seen a growing recognition that knowledge is a crucial factor of production. Several conferences and policy making bodies have placed knowledge firmly at the heart of economic agenda.

The knowledge economy differs from traditional economy in several key respects:

 
The economics is not of scarcity but rather of abundance. Unlike most resources that deplete when used, information and knowledge can be shared, and actually grow through application.
The effect of location is diminished. Using appropriate technology and methods, virtual marketplaces and virtual organizations can be created that offer benefits of speed and agility, of round the clock operation and of global reach.
Laws, barriers and taxes are difficult to apply on solely a national basis. Knowledge and information ‘leak’ to where demand is highest and the barriers are lowest.
Knowledge enhanced products or services can command price premiums over comparable products with low embedded knowledge or knowledge intensity.
 
Pricing and value depends heavily on context. Thus the same information or knowledge can have vastly different value to different people at different times.
Knowledge when locked into systems or processes have higher inherent value than when it can ‘walk out of the door’ in people’s heads.

These characteristics, so different from those of the physical economy, require new thinking and approaches by policy makers, senior executives and knowledge workers alike.

“Knowledge network” is a rich and dynamic phenomenon in which knowledge is shared, developed and evolved. It is more than access to information; it also delves into the unknown. It is more than using rules and inferences of expert systems because it is about knowledge that is evolving. Although it verges on simplification, it is the computer augmentation of person-to-person communications resulting in the development of new knowledge. The implicit and tacit knowledge is as important in a dynamic business environment as the explicit knowledge. It is the key to an organization’s ability to respond in a flexible and timely manner. This is a role that knowledge networking can help fill.

Mindlogicx has created the country’s first Knowledge Network that supports GradFirst. The Mindlogicx Knowledge Network rationalizes the market and delivers knowledge to the needy using innovative technologies. The Knowledge Network has been created with the following objectives:

Create a Level Playing Field for the students from rural, urban and metropolitan cities to access the same knowledge material and training programs.
Take Knowledge to the grass root level by tying up with Business and Strategic Partners that can take these knowledge products to masses.
Tie-up with like minded institutions, corporate and organizations to assist in the creation and expansion of global knowledge repository.

Knowledge is no longer a privilege. The Knowledge Network has provided a platform to network various knowledge resources and provide them to the users across the country as “on demand” service. This increases the supply of skilled workforce that meets the industry requirements, thus rationalizing the market. Our mission is to empower every Indian as a knowledge worker by 2020 so that they become “employable” or “self employable” or enable to transform them from job seekers to job providers.

 
 
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