On Knowledge, Power, and Value (making money)
Whether you know it or not, appreciate it or not, have been affected by it or not, or are employed or unemployed, the quiet unspoken reality of today is that we are in a new age – the age of the “knowledge-based economy”. Some brand it the “New Economy”, some label it “E-commerce” or the “Internet Economy”. These are all linguistic descriptions of linguistic descriptions, but the reality is much more pervasive and expansive; it all begins fundamentally with “KNOWLEDGE”. We are now all competing in a “knowledge based, global, interconnected marketplace”.
Laugh, cry, scratch your head, accept or reject this premise, but ignore “knowledge” at your own peril! “Knowledge” is a meritocracy. Those who have it are rewarded, those who hold it in a unique manner are rewarded more, those who seek it are in action to acquire it and incur cost (this is inescapable – accept it, there are no “free lunches”), and finally, those who ignore it are punished in today’s marketplace. The “marketplace” is the ultimate arbiter, the final judge of the value of “knowledge”. “Knowledge” is ultimately reflected in the “power” of our offers and practices. Ask yourself: Are your offers accepted or declined? Do your offers produce more revenue than your competitors? Will you buy an iPod or a Zune, use Google or Yahoo – think of the practical implications to market capitalization, market value and brand. Ultimately, “power” in the marketplace is always relative, and superior knowledge produces superior power. It’s not luck; it’s the “knowledge”, stupid.
Do you find your company growing or right-sizing, are you hiring or firing? Change is the only permanent situation you can count on. Again, the amount of “power” you have impacts your situation. “Power” is one’s relative capacity to produce a superior outcome to someone else at a specific point in time. The marketplace assigns “value” to “power” – it is called “making money”. Assessments in the marketplace are always being made (“this” and “not that” we say to ourselves), like it or not, ready or not, business is a game of “power”, it is a facticity in business and it is as inescapable to surviving in business as breathing air is to being human. “Knowledge” is fundamental to having “power” in the marketplace, which is making money. In fact, differentials in capacity to think and act effectively (“knowledge”) immediately alter relative “power” in the marketplace. Combine this with the other facticity of business – the marketplace is always evolving – and you now have the most compelling reason for always acquiring “knowledge”. Knowledge, power, value (making money) are all intertwined and interconnected. “Knowledge” however is fundamental! Its acquisition is the action that starts all other action that follows.
How do I increase my power, and make more money you ask???
Our knowledge of knowledge is a differential! Google and Apple dominate because of this differential. How “powerful” is your knowledge of “knowledge”