The concept of knowledge economy

Knowledge Management

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The concept of knowledge economy

Various observers describe today’s global economy as one in transition to a ‘knowledge economy’, or an ‘information society’. But the rules and practices that determined success in the industrial economy of the 20th century need rewriting in an interconnected world where resources such as know-how are more critical than other economic resources. This briefing highlights recent thinking and developments and offers guidance on developing appropriate organizational strategies to succeed into the new millennium. This lesson will help you to understand the importance of knowledge and its competitive advantage in an integrated world-economy.