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Characteristics of the New EconomyCharacteristics of the New Economy

••Knowledge dependentKnowledge dependent

••EntrepreneurialEntrepreneurial

••Rooted in informationRooted in informationalal technologytechnology

••Driven by innovationDriven by innovation

Mercantile Factory Corporate Knowledge ••GlobalGlobal

• Small businesses account for more than 80% • Small businesses account for more than 80%

of new jobsof new jobs

• Small technology companies create 4• Small technology companies create 4--5 jobs 5 jobs

for every 1 company jobfor every 1 company jobfor every 1 company jobfor every 1 company job

• Fast growing firms, and their highly motivated• Fast growing firms, and their highly motivated

entrepreneurs are crucial for economiesentrepreneurs are crucial for economies

• High performance companies =• High performance companies =

high performance jobs = high performance jobs = high performance jobs = high performance jobs =

high performance communitieshigh performance communities