Such a transformation took place mainly due to the increased need for innovation. As the rate of trade dealings is enhancing in the entire globe, the ratio of competitiveness is also expanding. However, in order to cope up with such type of competitive needs or demands of the citizens, the labours or the producers need to develop highly extensive abilities and knowledge (Max-Planck institute for history and science, n. d.). Such type of demanding skills and knowledge might be attained only through varied types of learning programs, training programs such as on-the –job, household trainings etc. Only then, the employees or the individual might easily cope up with the risks or changing demands of the citizens in global economy. By doing so, the producer or the employees might position itself as a successful individual or organization in this global knowledge society as compared to others.
Knowledge is described as a resource that helps to generate values and creativity. In this age of digitalisation, it is the knowledge that helps in enhancement of the dealings of trade leading to economic growth and development of a nation in the entire globe among others. Other than this, it is the knowledge that helps an individual entrepreneur to cope up with the changing requirements of the citizens by presenting inventive products. However, the inventive products are mainly developed with the help of new ideas and suggestions as well as advanced technologies (Huws, 2005). Only then, the employer or the employees in this revolutionary age might create a specific position for itself. Thus, it might be stated that knowledge is the prime requirement of an employee or employer to tackle global competitiveness.
Knowledge society is recognised as a place, where all sorts of activities or actions take place with the help of both tacit and codified knowledge.