... 'SWOT analysis', 'business process reengineering, and 'knowledge management' (Malone et al., 1999). Research by Rigby (2001) shows that companies use on average, more than eleven tools out of the top 25 tools. However, this is the smallest number of tools used in the last eight years before the survey took place. He also states that executives blamed this slump on the effects of the turmoil of business in the new economy; ergo less time is available and fewer employees are there to try out new tools. In the old economy, organizations sought advantage through market imperfections that were brought about by the unequal distribution of economic assets. Organizations sought to out-do each other in terms of a competitive strategy. In the new economy, organizations increasingly have to out-know each other, putting emphasis on innovation, creativity and foresight. These are the new tools of competition (McGee et al., 2005:606). The ...

See this essay or coursework document in full right now