Research paper : Empirical approach to knowledge, knowledge economy and knowledge based organizations

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Since the very early stages of human development knowledge, knowledge management have made a difference in who is prevailing and who is not. Driven by the information technology revolution of the 20th century knowledge and especially knowledge management within the establishing knowledge society and knowledge based economies have kicked off a major transformation of classical economical concepts. Economists started to rethink and transform the classical resource based economic theory towards information and knowledge based economy. The 21st century is dominated by the most effervescent transformations of human society. Information and information management through information technology has changed the way business organizations are developing and act and react to the globalized market and competition. The key to success is rapid assimilation and management of information and development through proper usage of accumulated knowledge that is leveraged by increased amounts of new information. There is a decisive transition from the classical economy of the 20th century based on resources towards the next level of economic evolution, towards knowledge based economy. In a knowledge based economy the main commodity is information and knowledge, the classical economy is only a subsequent result of the proper management of knowledge. The key defining concepts of the 21st century are information and knowledge that have had a major impact on business organizations all over the world. Business organizations have to redefine their strategies and their values in order to assure their competitive advantage in the increasing fast moving global market place

The full posting can be found at

https://www.researchgate.net/publication/312173621_EMPIRICAL_APPROACH_TO_KNOWLEDGE_KNOWLEDGE_ECONOMY_AND_KNOWLEDGE_BASED_ORGANIZATIONS

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