What is new:
Change in the nature of production:
More inputs/resources are “weightless” or intangible
More outputs/products are “weightless” or intangible
Not just new technological products or lower price – but expanding consumer choice through more customized products, more individualized service and greater attention to ascetics in order to respond to changing consumer tastes.
Need to foster and develop intangible assets: business systems and new business methods, worker skills and know-how, informal relationships that feed creativity and new ideas, high-performance work organizations, formal intellectual property such as patents and copyrights, brands, and innovation and creativity skills.