Montenegrin Journal of Economics

Design Process In New Knowledge Economy

Ružica Žnideršić and Dražen Marić

2008, vol. 4, no. 8, p. 129-132

The turbulent development of science and technology has lead to major changes in all spheres of man's existence, As such, it has resulted in the necessity of applying multidisciplinary approach to solving problems encountered by both individuals and corporations. Industry convergence, technological complexity, solution selling, and the globalization of consumers are increasing the importance and dispersion of relevant new knowledge. Winning in the global knowledge economy is not about choosing between innovation and operating efficiency, or between exploitation and entrepreneurship. It is about winning a global tournament by identification and access new technologies and market trends ahead of the competition, by transformation of knowledge into innovative products and services, and by exploiting these innovations in markets around the world. The issue of design, i.e. defining and styling products and services, as well and their construction and general formation, has, for a long time, been the exclusive task of technologists and engineers. The changes in the living and business conditions have increasingly been introducing the product design issue into the area of marketing. The only way for companies to achieve their goals of survival and market growth is to design such products and services which meet the strict preferences and demands of consumers in new knowledge economy, which also contributes to the improved quality of life.

suggested citation:

Ružica Žnideršić and Dražen Marić. "Design Process In New Knowledge Economy." Montenegrin Journal of Economics. vol. 4, no. 8, 2008, p. 129-132

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