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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.
He describes knowledge-based opportunities as distinct from (classical) resource-based opportunities; unfortunately, there is no clear definition of a knowledge-based opportunity which makes it difficult to demarcate, as all opportunities except for purely spontaneous action or intuition-based opportunities are somehow knowledge based.
The production of knowledge before the Scientific Revolution had little economic impact and was practiced on a small scale. Since that time knowledge has become one of the largest and most important industrial sectors in world commerce. The emergence of knowledge as an industry has been essential in perpetuating the modern capitalist system.
The knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. [1]
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 ...
Culture is the set of knowledge acquired over time. In this sense, multiculturalism values the peaceful coexistence and mutual respect between different cultures inhabiting the same planet. Sometimes "culture" is also used to describe specific practices within a subgroup of a society, a subculture (e.g. "bro culture"), or a counterculture.
Organizational culture influences the ways in which people interact, how decisions are made (or not made), the context within which knowledge is created, the resistance they will have towards certain changes, and ultimately the way they share (or the way they do not share) knowledge.
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 ...