Changing Economies

The world is changing and so is everything. The biggest driving force behind the world is the economy. Literally everything revolve around it. Economy is the nucleus and this nucleus is dynamic. The dynamism of this economy comes through innovation. The most highly treasured and celebrated activity in an innovation and changing economy is transforming notions into new and better products and services, and the most valuable commodity is the knowledge needed to do it.

Fresh skills are required, and not just technical skills. We need renewed attention to generic skills and attitudes that contribute to adaptability and innovation, there needs to be an equilibrium of the relationship between general and technical aptitudes. There is a galore of new high order skills involving design, innovative thinking, information management.

In this changing economy, the scenario is changing so fast, its hard to keep up. Emerging innovative industries need technical support in exploiting new advancements, new occupations and trades replace old ones as technologies emerge, compete and succeed in gaining market share. Another shift is that traditional factories keep on producing old products and services on demand, but by using new emerging technologies, hence increasing productivity and quality. Manufacturing for global markets is improved by transformed production processes.

In the long run, it will benefit producer and purchaser alike.

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