▁the ▁importance ▁of ▁talent ▁to ▁the ▁success ▁of ▁organizations . ▁ ▁Dem ographic ▁ ▁The ▁war ▁for ▁talent ▁is ▁intens ified ▁by ▁dem ographic ▁sh ifts ▁( prim arily ▁in ▁the ▁United ▁States ▁and ▁Europe ). ▁This ▁is ▁character ized ▁by ▁increasing ▁demand ▁along ▁with ▁decre asing ▁supply ▁( dem ograph ically ). ▁There ▁are ▁simply ▁fewer ▁post - b aby - bo om ▁workers ▁to ▁replace ▁the ▁baby - bo om ▁ret irement ▁in ▁the ▁US ▁and ▁Europe ▁( though ▁this ▁is ▁not ▁the ▁case ▁in ▁most ▁of ▁East ▁Asia , ▁S out heast ▁Asia , ▁Central ▁Asia , ▁Central ▁America , ▁South ▁America , ▁or ▁the ▁Middle ▁East ; ▁Eastern ▁Europe ▁also ▁tends ▁to ▁have ▁similar ▁dem ograph ics , ▁namely ▁an ▁ag ing ▁and / or ▁shr inking ▁labor ▁force ). ▁ ▁Know ledge ▁work ▁ ▁While ▁talent ▁is ▁vague ▁or ▁ill - defined , ▁the ▁underlying ▁assumption ▁is ▁that ▁for ▁knowledge - int ensive ▁indust ries , ▁the ▁knowledge ▁worker ▁( a ▁term ▁co ined ▁by ▁Peter ▁Dru cker ) ▁is ▁the ▁key ▁compet itive ▁resource ▁( see ▁the ▁Resource - based ▁view ▁of ▁the ▁firm ). ▁Know ledge - based ▁theories ▁of ▁organizations ▁consist ently ▁place ▁knowledge ▁workers ▁as ▁a ▁primary , ▁compet itive ▁resource . ▁ ▁Definition ▁of ▁talent ▁▁ ▁Tal ent ▁is ▁never ▁explicitly ▁defined ▁in ▁the ▁book , ▁though ▁the ▁Pref ace ▁notes , ▁" A ▁certain ▁part ▁of ▁talent ▁el ude ▁description : ▁You ▁ ▁simply ▁know ▁it ▁when ▁you ▁see ▁it ." ▁(