Knowledge as a factor of competitive advantages: prospects for Ukraine

Abstract

Introduction. In recent decades, economic growth of the leading world countries have occurred on the basis of information and knowledge embodied in new products, production technologies and management at all stages of production and marketing. Due to the generation and commercialisation of knowledge competitive advantages of individual companies, institutions and national economies, leaders of economic growth are formed and advanced. Considering the current trends in the changing conditions of economic and political space of Ukraine and abroad, which will only intensify fast and efficient reorientation to new markets is relevant for the domestic producers. The purpose of the study is to investigate the role and place of knowledge as an element of intellectual capital of organisations to ensure their competitiveness in light of trends in the global economy; to assess the current position and to outline the problems and perspectives of fast and efficient innovation growth in Ukraine based on knowledge. Results. The role of knowledge in providing competitive advantages of organisations has been outlined. The place of knowledge relevant to intellectual capital of organisations is specified. It has been determined that knowledge as an element of intellectual capital has a dual nature: it can be regarded both as an intellectual resource and as a possibility to implement existing intellectual capital of organisations. The influence of knowledge in the global economy is investigated. Ukraine's position in the world rankings, which reflects the level of economic development based on intellectual capital and innovation, as well as the status of its competitiveness, has been studied. From these positions, we have specified strengths and weaknesses of the national economy and outlined the prospects of economic growth based on knowledge as an element of intellectual capital.