The knowledge-driven economy A Department of Trade and Industry case study
Page 6: Conclusion
The knowledge-driven society will create higher expectations amongst consumers, who will be more discerning and expect higher standards of products and services. Consumers will be more likely to buy products and services where traders give clear, accurate and understandable information.
Companies who use knowledge in order to provide consumers with what they want in terms of information and back up services (such as redress if things go wrong), as well as the right quality and choice of goods and services, will develop competitive advantages over their rivals that will enable them to be more successful.
Success in the knowledge-driven economy will depend upon how well organisations and individuals exploit their knowledge, skills and creativity. This revolution is about developing high value goods and services through advanced business practices to better meet the needs of consumers.
Department of Trade and Industry | The knowledge-driven economy