It is widely recognized that people are the most important asset an organization has, but they are also the most underutilized resource. In the increasingly competitive, knowledge based economy; independent entrepreneurship and initiative are the vital edge for organizations to achieve competitive advantage. Highly motivated and educated staff are critical to the development and implementation of strategies. In today's knowledge based corporate environment, managers must work towards engaging the organization forcefully enough to achieve its objectives, and flatter hierarchal structures and a multi-skilled workforce characterize this new environment. In this environment managers have realized that autocracy is no longer feasible and are giving decision making responsibility and authority, empowering employees, who are often better positioned, experienced and educated to make these decisions more reliably and quickly.…
