Management processes have evolved to meet changing internal and external environments through different organisational forms, systems and processes. The emerging phenomena of the knowledge based economy challenges not only the strategic management of a firm but also the understandings and competencies of managers, both individually and collectively. This paper examines the challenge of managing in the global networked context of the knowledge economy. Using the knowledge based view of the firm and knowledge of management processes, we argue that management in the twenty-first century involves not only the familiar processes of managing tasks, managing others and managing change, but also requires a strategic approach to managing for knowledge, absorptive capacity and innovation
