World Economy Has Shifted Commerce Essay

World economy has shifted from industrial manufacturing oriented economy to one based on knowledge and information. Organizations around the world are under constant pressure to develop valuable knowledge and utilize it efficiently in order to stay competitive in the market. Knowledge has become the principal organization resource which provides the competitive advantage in dynamic environment (Grant, 1996; Hansen, Nohria, & Tierney, 1999). It has been argued that knowledge is of little value if it is not shared in the organization. Success of the organizations in todays globalized world largely depends on its efforts to develop humane knowledge and to share it within the firm (Wei, Stankosky, Calabrese & Lu, 2008; Woods, 2001). According to the previous research knowledge sharing between employees is positively related to firm innovation capability, team performance, and reduction in costs and profit improvement (Collins & Smith, 2006; Hansen, 2002).

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