ABSTRACT
The evolution toward the “new economy” over the past decade has now turned the corner into the new millennium. The pace and scope of change have been dramatic, transforming Vaill’s (1989) description of the business environment as “permanent whitewater” into a stark reality. Driven largely by technological advances, all levels of society have been impacted-from global communities to national economies, from industries to organizations, from work units to individual workers. Much of the attention has centered on the structural aspects of the new economy, particularly the integration of capital markets with technology breakthroughs that inspired dot-com ventures and nudged traditional organizations out of their status-quo orbits. The result, of course, is still in flux as the future unfolds. However, two key lessons are evident.
