Explain the Increasing Dependence on Knowledge Workers in Business, and Provide

question 16

Essay

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

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Definitions:

Necessary

Essential or needed for a certain purpose.

Market Driven

A business approach focused on creating products and services based on the existing demands and preferences of the market.

Reactive

Characterized by actions taken in response to external situations or events rather than initiating change proactively.

Competition Driven

A market situation where businesses are highly motivated to outperform their rivals in order to gain greater market share and customer loyalty.