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Join Dr. Amit Mitra from Cranfield University for a workshop on the significance of the knowledge economy and its impact on growth and trade. Learn how businesses and organizations can leverage the internet to re-evaluate their offerings and enhance their capacity for effective action. Explore the role of education, innovation, and ICT in knowledge-based economic growth. Discover the expectations of a knowledge-based society and evaluate contributions to the knowledge economy.
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Workshop on Knowledge Based Economies Delivered by: Dr Amit Mitra, Department of Informatics & Sensors, Cranfield University, Shrivenham, Swindon SN6 8LA, UK
Significance of knowledge economy • Growth and trade of countries and societies are no longer primarily dependent on manufacturing • The exponential influence of the internet today is persuading businesses/organisations to have an internet presence • This is leading businesses/organisations to re-examine what is being offered from two perspectives, i.e., know why and know how • Units, institutions and in the end societies therefore are beginning to re-evaluate and alter what they are able to offer
Knowledge connotations • Capacity for effective action – Karl Erik Sveiby • Justified belief that increases an entity’s capacity for effective action – Ikujiro Nonaka • Knowledge is information that changes something or somebody – either by becoming grounds for action, or by making individual (or an institution) capable of different or more effective action – Peter Drucker
Accepted contributors to knowledge based economic growth • Economic and institutional regime • Education • Innovation • ICT
Evaluation of contributions to KBE using traditional cycle of information management Data Hypothesis Information Knowledge