Technology has always been an integral part of human civilization. Never before in history has technology made such profound impact on human life as it does at the dawn of the Cyber Age. Pervasive influence of modern information and communication technologies is fundamentally reshaping the global economy, creating what is called the "Digital Economy". Digital economy both enable and requires organization s to continually learn new knowledge and systematically deploy it for value creation. Knowledge has always been a factor of production, and a driver of economic & social development . But in recent years our capacity to manipulate, store & transmit large volumes of information at a fraction of cost has increased at a staggering rate. The digitization of information & accompanying outreach of internet are facilitating new intensity in the application of knowledge to economic activity. Knowledge has become the key ingredient of emerging businesses. Increasing complexity and the consequent instability marks the emergent business environment that defies solutions through traditional managerial tools. The problem in the new business environment is that the business and the target are constantly modifying each other and coevolving. Emergent business require a new management frame work that combines the human intellectual capital and digital technological processes to enable knowledge work and value creation.