ipl-logo

Knowledge-Based Economy Importance

1333 Words6 Pages
UNIVERSITI TEKNOLOGI MARA
FACULTY OF INFORMATION MANAGEMENT

BACHELOR OF INFORMATION SCIENCE (HONS.) RESOURCE CENTRE MANAGEMENT
(IM 247)

INDIVIDU ASSIGNMENT:
Knowledge-Based Economy
(The Importance of Knowledge-Based Economy in Business Activities)

Prepared by:
Che Ku Nor Saadah Binti Che Ku Mohd Salleh
(2014893212)

Prepared for:
Encik Noor Zaidi Sahid

Group:
(IMA657 247/6A)

Date of submission:
08 April 2016

KNOWLEDGE- BASED ECONOMY
The Importance of Knowledge-Based Economy in Business Activities

Abstract:
The purpose of this paper is to present the important of knowledge-based economy in the business activities in organization and also their impact in economic growth. This paper observes more about the knowledge-based economy from literature review. It’s also discusses about on how knowledge-based economy can increase economy wide productivity, spawning new activities for investment and also productivity enhancement. This allows understanding more details about knowledge-based economy.
Keywords:
Knowledge, knowledge-based economy, business activities.

1.0 Introduction We can see about the knowledge-based economy in general aspect. As we know, this economy is an economy that is focuses on the knowledge and ideas. Knowledge is a key factor in growth, wealth creation and service based on knowledge of business activities, Gabriela L. Sabau, (2009). This is why today the knowledge can be defined as a driving force of the economic growth and productivity. From
Show More
Related
434 Words | 2 Pages

In every department this system is helpful whether it is finance, marketing or management. Knowledge management system, This system organizes the information and distributes it to desire it to person. The purpose of this system is to bring innovation,

Read More
583 Words | 3 Pages

Industrialization was a catalyst of tension between laborers and the owners of capital which then led to political reform, as well as thousands of immigrants coming to America looking for work. Industrialization was a cause of tension between laborers and the owners of capital. The Gilded Age was a time with large and rapid economic growth, and additionally helped capitalism strengthen in America. Industrialization and innovation sparked more, unregulated manufacturing where the capital owners’ net worth boomed.

Read More
548 Words | 3 Pages

Knowledge is the condition of knowing something. When given it does not decrease, but will only increase. It is collective thoughts and experiences people go through. Books are the greatest source of knowledge and help develop the human mind. Knowledge also helps people not commit the same mistakes again and again.

Read More
278 Words | 2 Pages

It is information that's adapted to a purpose to create emotion and meaning to the world. Knowledge should not be expected to be perfect. Knowledge is created by imaginative and critical thought. Knowledge for the future helps us think outside the box to be able to communicate logically with one another.

Read More
1128 Words | 5 Pages

Without it, society will never function as it rightfully should. Knowledge should be valued, without it then society is missing a much needed piece of essential material.

Read More
1682 Words | 7 Pages

Businesses like Netflix and Amazon are prime examples of how data analytics can improve customer experiences and operational effectiveness. They use big data, which is a type of collectable data that cannot be processed using traditional methods. Knowledge management (KM) creates emphasis on the differences between explicit knowledge, which can be defined, and tacit knowledge, which comes from personal experiences as well as their applications in business environments. The primary focus is on how to integrate the innovative

Read More
72 Words | 1 Pages

Knowledge is the information gained by epeirience and education. Many people believe that knowledge is always benificial. That concept is not always the case. It is true that knowledge is valuable , but some knowlege could become a curse and also overtaking. Mary Shelly illustrated the two sides of knowledge.

Read More
463 Words | 2 Pages

Knowledge management is a process to ensure that knowledge developed through individuals and group work activities is effectively captured and made available to those who may benefit from it. An example would be to build into project plans the time for review and to identify at the outset how information, knowledge and experience will be captured, stored and shared with other individuals and/or areas of the organisation that may have an interest in the experience and knowledge gained as a result of the project. The importance and value of knowledge management has been brought into sharper focus in the current climate of financial constraint and the need to do more with

Read More
1252 Words | 6 Pages

Knowledge can either be generated within firms, or accessed externally that is knowledge flows may viewed as intra-firm or inter-firm. As it turns out, these two ways of building knowledge have been used as foundation for at least two sets of

Read More
1436 Words | 6 Pages

In economics one of the common quote is “knowledge is power”, which is the same

Read More
1361 Words | 6 Pages

Whilst the knower’s perspective is always essential in the pursuit of knowledge, it’s essence is greater in some areas of knowledge than others. Perspective shapes both what we pursue in knowledge and it affects how we interpret pursued knowledge. Whilst the latter has greater influence over subjective areas such as the arts and history, the former affects even the pursuit of knowledge in more objective areas such as the natural sciences and maths. What’s more, for knowledge to be knowledge, there must be a knower. Each individual knower gains knowledge through the ways of knowing reason and emotion (amongst others); these ways of knowing shape and are shaped by our perspective.

Read More
950 Words | 4 Pages

Apple Company Apple Inc. is a private company, and it is one of the world 's most famous technology and computer companies, located in the United States of America. It is a multi-national company. Its main business depends on specialization in manufacturing, producing, developing, improving and selling software, smartphones, computers; It has a series of electronic devices, such as iPad, iPhone and Mac. The origin of Apple Company Founded by Steve Jobs and his co-pilot Steve Wozniak, Apple Computer was able to design a computer in the form of the beginning of Apple computers in the time period Between the years 1981 to 1985; since 2005 until now, Apple has seen many developments; successive successes.

Read More
1578 Words | 7 Pages

Theory of Knowledge Essay “Without application in the world, the value of knowledge is greatly diminished.” Consider this claim with respect to two areas of knowledge. In contemporary society, it is often argued that the value of knowledge is determined by its application to the real life situations. I am of an emphatic opinion that without application, the value of knowledge certainly abates.

Read More
794 Words | 4 Pages

Innovations include examples such as, Automation of knowledge work, through intelligent software systems, is transforming the organization and productivity of knowledge work and could enable millions

Read More
1325 Words | 6 Pages

An economics field of study that applies both macroeconomic and microeconomic principles to international trade, which is the flow of trade among nations, and to international finance, which is the means of making payment for the exchange of goods among nations. International economics studies the economic interactions among the different nations that make up the global economy. Often this interaction is viewed in terms of the domestic economy and the foreign sector. The key economic principle underlying international economics is the law of comparative advantage. International economics is growing in importance as a field of study because of the rapid integration of international economic markets.

Read More

More about Knowledge-Based Economy Importance

Related Topics

Open Document