For the last two hundred years, neo-classical economics has recognized only two factors of production: LABOR and CAPITAL. This is now changing. Information and Knowledge are replacing capital and energy as the primary wealth-creating assets, just as the evolution of Internet peppering our life with digital impacts all over the world.

In addition, technological developments in the 20th century have transformed the majority of wealth-creating work from physically-based to "Knowledge-based". Technology and Knowledge are now the key factors of production and replication. With increased mobility of information and the global work force, knowledge and expertise can be transported instantaneously around the world, and any advantage gained by one company can be eliminated by competitive improvements overnight.

The only comparative advantage a company will own is its process of innovation - combining market and technology know-how with the creative talents of knowledge workers to solve a constant stream of competitive problems - and its ability to derive value from information. We are now experiencing a knowledge economy where knowledge management with technology is essential. We'd like to welcome the Information and Knowledge Era together hand in hand.