ABSTRACT
In the last two hundred years, Western societies have transitioned through economies and societies first based on agriculture, then on industry and knowledge. Now there is yet another dimension, that of the virtual world. The magnitude of these changes is such that they are called revolutions and each one has challenged the way in which people work, think, live and communicate. The virtual world that is a further development of the knowledge age differs little in its level of impact, its ability to present challenges and the associated requirement to rethink economies, societies and lifestyles from its previous counterparts. However, a key difference between the virtual world and the knowledge age and the first two ages is that the earlier ages were built on knowing how and knowing what. The knowledge age is founded on knowing who and why in an uncertain and now virtual world. We live and work in an era where unpredictable events have an immediate global impact, where corporate reputations can be destroyed through worldwide condemnation about their slowness to react or respond to situations, and where the market environment is no longer solely a physical presence as per the market place; it is increasingly a virtual presence, or market space. It is a learning age where an understanding of trends and possibilities goes hand in hand with identifying the inconceivable and making choices or preferences as to where to position for the future.
