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The first wave was the Agricultural Age with wealth defined as ownership of land. In the second wave, the Industrial Age, wealth was based on ownership of Capital, i.e. factories. In the Knowledge Age, wealth is based upon the ownership of knowledge and the ability to use that knowledge to create or improve goods and services.
A knowledge economy features a highly skilled workforce within the microeconomic and macroeconomic environment; institutions and industries create jobs that demand specialized skills to meet the needs of the global market. [3] Knowledge is viewed as an additional input to labour, and capital. [4]
Knowledge industries are those industries which are based on their intensive use of technology and/or human capital. [1] While most industries are dependent in some way on knowledge as inputs, knowledge industries are particularly dependent on knowledge and technology to generate revenue.
The quaternary sector of the economy is based upon the economic activity that is associated with either the intellectual or knowledge-based economy. [1] This consists of information technology; media; research and development; information-based services such as information-generation and information-sharing; and knowledge-based services such as consultation, entertainment, broadcasting, mass ...
Knowledge-intensive services can be described as activities that are based on knowledge and know-how resources and are service oriented. This is a more descriptive concept than a specific industry: the information creates value for different stakeholders.
This can have a profound effect on both the quality of the service delivered as well as the client's ultimate satisfaction with the knowledge-based service solution. By strategically managing client co-production, service providers can improve operational efficiency, develop more optimal solutions [ sic ], and generate a sustainable competitive ...
For Stehr, the economy of a knowledge society is largely driven not by material inputs, but by symbolic or knowledge-based inputs (Ibid.: 67), there would be a large number of professions that involve working with knowledge, and a declining number of jobs that demand low cognitive skills as well as in manufacturing (Stehr 2002a).
Knowledge sharing (fostering a culture that encourages the sharing of information, based on the concept that knowledge is not irrevocable and should be shared and updated to remain relevant) Make knowledge-sharing a key role in employees' job description; Inter-project knowledge transfer; Intra-organisational knowledge sharing