The introduction of new technologies had replaced many manufacturing processes done in 1930s. Under the present economy, new industries are introduced, jobs are created, wages and income increase and skills are honed. New industries gives new jobs, new technologies and provide new ways or organizing works that have changed work patterns in many existing jobs. As business becomes high tech, goods and services are more innovative and production grows to be flexible, attitude of people becomes to be more conscious of efficiency and productivity. Wherein before, there is a perception that it is difficult to make business in other parts of the world, now the world becomes our next door’s neighbor. As the IT brings in development of trade toward globalization, the new attitude is that of being innovative to become competitive and having a strong disposition to compete in global business world. (“The new economy index”)
In conclusion, new attitude developed by the new economy are the outlook towards global competitiveness, that of being responsive to technological change, manners in business, mind-set of being efficient and innovative in the light of the fast pace of economic ...
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