Knowledge-based Economy Research Articles

The Relationship between the Knowledge Economy and Marketing: a Bibliometric Analysis

Knowledge is a commodity of the knowledge economy, produced, disseminated and consumed in this environment. It should be noted that the main enablers, the political system and society, and the main consumers, the economy and society, are highlighted. Moreover, various marketing tools can be applied to promote a knowledge-based economy and ensure lifelong learning. The selection of marketing solutions is contingent upon the degree to which society is prepared to transition to a knowledge-based economy. Thus, a need exists to investigate the relationship between the knowledge economy and marketing. The aim of this research is: by applying the bibliometric analysis method, to analyse the relationship between the knowledge economy and marketing. The analysis conducted revealed that the knowledge economy is a relevant scientific field. Topic trend analysis revealed a shift in studies. From 2016 to date, the emphasis has been on decision-making, manufacturing, sustainability and sustainable development. The focus of studies has shifted from the United States and the European Union to China. This suggests future research directions, such as research into the application of the knowledge economy in different settings and different sectors, and research into the relationship between the knowledge economy and sustainability issues.

Knowledge management and knowledge sharing in maintenance department of high-tech industries

PurposeThe competition and competitive advantage among firms in various industries have shifted toward a knowledge-based economy. This is particularly evident in knowledge-intensive industries where a company’s competitive edge relies heavily on its ability to generate and utilize new knowledge solutions. Knowledge management (KM) is essential for all organizations, but it holds greater significance in specific functional units, such as maintenance. Industrial maintenance is a knowledge-intensive field and knowledge sharing (KS) motivation is low due to the tacit and intricate nature of knowledge. Despite these challenges, sharing knowledge between experienced and novice employees is fundamental to industrial maintenance, and much remains to be examined in this area. This study explores how novices' knowledge and KS with other workers can be improved via “Training by Novices” program in industrial maintenance.Design/methodology/approachThis study adopted an action-research approach within a high-tech company’s maintenance department, involving 103 maintenance employees. The research unfolded in three pivotal phases: first, an initial evaluation of KM and KS was carried out; second, training programs by novices aimed at strengthening KS between novices and department members were implemented and third, data were collected to assess changes and facilitate improvement in knowledge exchange and collaboration within the department.FindingsThe study demonstrates that involving novices in training programs as trainers within high-tech industries' maintenance departments enhances KM and KS among all employees. The training programs led to substantial increases in knowledge for novices and experienced workers and fostered a culture of continuous learning. Despite the short training duration, participants' overall knowledge increased, and they found the program effective and expressed willingness to continue, indicating potential for long-term improvements in KS practices.Research limitations/implicationsThis research challenges conventional wisdom regarding KS among novices in industrial maintenance. Showcasing the effectiveness of novices as trainers offers a fresh perspective on enhancing KS practices within knowledge-intensive industries.Practical implicationsThis study provides actionable insights for maintenance managers grappling with KS challenges. Organizations can boost employees' knowledge and KS practices by advocating for structured training programs led by novices, fostering a more collaborative workplace culture.Originality/valueThis study introduces a novel approach by empowering novices to engage actively in KS within industrial maintenance settings. By utilizing novices as trainers, the research demonstrates a practical means of enhancing both their own knowledge and that of their peers. This innovative strategy not only addresses common challenges in KM within maintenance units but also promotes a culture of continuous learning and development. This research offers valuable insights into improving KS practices and fostering a more collaborative organizational culture.

Enhancing Students’ Knowledge-Based Economy Skills at Sultan Qaboos University

This study examines the readiness of Sultan Qaboos University (SQU) students for the knowledge-based economy, focusing on their awareness, perceptions, and skills. As Oman transitions towards a knowledge-based economic model, understanding and enhancing students’ preparedness has become crucial. This research employs a quantitative approach, utilizing a questionnaire distributed to SQU students across various colleges and academic levels, achieving a 66.04% response rate. The key findings reveal that while many students consider knowledge economy skills very important, some express neutral awareness about these skills. Students ranked creativity and innovation (85.82%) and critical thinking and problem solving (85.11%) as the most essential skills. The study identifies significant relationships between enhancing students’ knowledge-based economy skills (ESKBE) and both awareness of the knowledge-based economy (AWS) and the impact of technology on education and employment (ITEE). Students generally view the knowledge economy positively, with 55% agreeing it will have a positive societal impact. However, they recognize challenges, including resistance to change (53.5% agreement) and limited access to education and training (49.3% agreement). The need for government involvement in addressing these challenges was strongly emphasized (54.3% agreement). Based on these findings, the study recommends that SQU enhance its curriculum to explicitly develop key skills, improve awareness of knowledge economy demands, further integrate technology into educational practices, strengthen industry partnerships, promote lifelong learning initiatives, and engage more actively with policymakers. This paper also provides a unique look at higher education’s role in the changing economy, as seen through graduates. It offers empirical evidence for the necessity of universities to change to serve the knowledge economy and, at the same time, make a case on how complex this transformation is. The results matter not only for SQU but also—in a more general sense, at least as far as knowledge-based economies are concerned—globally with respect to higher education institutions.

The drivers and barriers influencing the commercialization of innovations at research and innovation institutions in Uganda: a systemic, infrastructural, and financial approach

Research and innovation (R&I) institutions must commercialize their innovations to remain competitive in a knowledge-based economy. While R&I institutions in Uganda have the potential to drive socioeconomic development, a clear understanding of the commercialization pathway is lacking. This study aims to bridge this gap by analyzing the systemic, infrastructural, and financial factors that drive and hinder the commercialization of innovations at R&I institutions in Uganda. This study offers the first comprehensive examination of the systemic, infrastructural, and financial dimensions influencing innovation commercialization within Uganda's R&I ecosystem, presenting new empirical evidence on the prioritized barriers and drivers as perceived by key stakeholders. Employing a mixed-method approach, this study uniquely combines quantitative surveys with qualitative case studies and key informant interviews, enabling a nuanced understanding of the multifaceted drivers of and barriers to innovation commercialization in Uganda. The study employed the Delphi technique to identify consensus among key informants. The findings highlight the urgent barriers to address, including fragmented R&I ecosystems, inadequate support infrastructure, such as technology transfer offices, and significant gaps in innovation financing. These issues underscore the urgent need for targeted policy interventions. Based on our findings, we recommend the establishment of a national innovation fund, enhancement of public private partnerships for R&D infrastructure development, and formulation of a cohesive national policy framework to streamline commercialization processes at R&I institutions. This study provides policymakers with a data-driven foundation to craft targeted interventions aimed at removing the identified barriers, thereby catalyzing the commercialization of innovations in Uganda's R&I institutions.

Discretionary Accrual in the Knowledge-Based Economy

The modern economy transit from manufacturing to knowledge-based industries that are dependent on investments in R&D, advertising, and employee talents. These investments and much of the value that they generate cannot be capitalized as assets. As these intangible assets are off-balance-sheet, a firm’s book value might be low. When book value fails to present a firm’s true value, we stipulate that management has incentive to manage its earnings to convey information that is not reflected in the balance sheet. We find that firms with negative book value and in the New Economy use more discretionary accruals.

Perceived attitudes towards infopreneurship: An empirical study on a public university students in Bangladesh

Infopreneurship, an emerging concept in today’s knowledge-based economy, has gained relevance. In the context of the evolving knowledge-based economy, understanding students’ perceptions of infopreneurship is essential for fostering innovation and entrepreneurship. However, limited research exists on students’ perceptions of infopreneurship. This study aims to explore public university students’ perspectives on infopreneurship. A convenient sampling technique was used to select 257 undergraduate and postgraduate students from Noakhali Science and Technology University in Bangladesh. Data was collected using a structured questionnaire, and descriptive statistics was applied for data analysis. The results indicate that students’ perceptions of infopreneurship are somewhat limited, revealing gaps in their perceived knowledge and skills. The study suggests the need to improve students’ understanding and attitude towards infopreneurship. Policymakers and educators can utilize these findings to enhance students’ perceptions of infopreneurship through appropriate education and training programs.

Representation of Human Resources in The Accounting System: Methods and Applications

The rapid development and progress of the knowledge-based economy has increased the importance of human resources as a key factor in determining the overall value of companies. However, traditional accounting methods have difficulty in accurately reflecting the true value of such intangible assets. In this context, the study aims to examine how human capital, which is becoming increasingly important for companies, can be represented in accounting systems and the limitations of current accounting standards. The study discusses controversial issues and problems related to human capital accounting practices and presents sample applications. It concludes that, under TPL/GCIAS and standards, expenditure on human resources by enterprises should be expensed in the period in which it is incurred, rather than capitalized, because human resources are not considered intangible assets.

Business Cycle Dynamics in the Romanian Economy: Phases and Developments

Romania's economy is not yet sufficient / complete and competitive connected to the developed European economy and the global one. In recent economic and general political history, the political, institutional and economic changes that have taken place since 1990 in Central and Eastern Europe, including Romania, are already recognized. The article deals with the evolutionary situational stages towards the New Economy of Romania. It also describes the post-transformation horizon for achieving quasi-constant inverted levels between “tangible-intangible” for the transition to a new business cycle in the New Knowledge-Based Economy and Risk. It follows that if GDP reflects the sum of the market value of all goods and services intended for final consumption, not intermediate ones, produced in all branches of the economy within Romania within a year, by way of investigative proximity, business and cycles of manifestation of these were closely followed by dimensional evolutionary trends of similarity and aggregation with GDP. In fact, the New Knowledge-Based Economy has radically and positively changed Romania's advance towards the digitalized society, based more and more on the operationalization of intangible assets. The problem of vision, strategy and development tactics through new business cycles is found in the search for the optimal structural ratio between tangible and intangible assets (knowledge) insurers for competitiveness and sustainability. Keywords: business cycle, Romanian economy, business, entrepreneurship, investment, new knowledge-based economy, tangible assets, intangible assets

Evaluation of Academic Enhancement Program for Low-Income Students in Rural Malaysia

Malaysia National Science, Technology and Innovation policy 2021-2023highlighted thatScience, Technology, Engineering and Mathematics (STEM) Education plays an important role for Technical and Vocational Education and Training (TVET). Many countries are now keen on integrating STEM into TVET education to maintain competitiveness and prepare the workforce to be more effective and productive in the knowledge-based economy. Penang Regional Development Authority (PERDA) initiated the B40@PERDA Academic Enhancement Programme to enhance the academic performance of primary and secondary school students from the B40 group, focusing on critical subjects.The study aims to evaluate the program's effectiveness and gauge student and teacher satisfaction. Using a quantitative approach, data were collected via questionnaires from students and teachers at various educational institutions. Respondents were randomly selected to ensure accurate representation. Analysis results showed that more than 95% of primary school students achieved the minimum proficiency level in EMAS with a minimum of 10% reaching the highest proficiency. For secondary school students, at least 50% attained at least a C grade in EMAS and 45.77% did so in Elective Science subjects (Physics, Chemistry, Biology, and Additional Mathematics). This study concluded that the B40@PERDA programme significantly improves EMAS proficiency among rural students and helps reduce dropout rates in these subjects. Furthermore, this programme is crucial for fulfilling the minimum requirements for TVET. By enhancing proficiency in critical subjects such as English, Mathematics, and Science, the B40@PERDA Programme ensures that students are better prepared for TVET pathways, ultimately contributing to their future career opportunities and the development of skilled labor in the region.

Entrepreneurship educator: a vital cog in the wheel of entrepreneurship education and development in universities

Entrepreneurship educators (EEs) are critical in fostering entrepreneurship and innovation in emerging economies, as they play a vital part in developing talent, which further contributes to a knowledge-based economy. The value of EEs is in promoting entrepreneurship education and highlighting the significance of developing an entrepreneurial mindset among students. Primary data was collected by conducting in-depth, semi-structured interviews involving educators affiliated with public and private Higher Education Institutions (HEIs) in the UAE. Participants were selected by adopting random sampling and snowballing techniques. Our findings not only shed light on the challenges faced by EEs but also underscore the urgent need for better support from institutions. This support is crucial for EEs to make an effective contribution to developing a professional workforce that can significantly impact students and the community. We also advocate strategies for fostering experiential learning, which include giving EEs more autonomy and support by establishing dedicated entrepreneurship centers. This work is a call to action, contributing to the further development of the literature on EE, which has received much lesser academic attention than it deserves. It also lays a foundation for further cross-country studies.

National Reunification and Educational Reforms in Vietnam from 1975 to 1985

After April 30, 1975, Vietnam became an independent and unified nation. Along with the policies of quickly achieving statehood unification, establishing a national government structure, and fostering consensus and harmony between the two regions of North and South,... various economic, social, educational, and cultural issues are also of particular concern to the Party and the State of Vietnam. Recognizing the role and mission of education in the nation's development, considering education and training, science and technology as the top national policies, Vietnam's education system has early on aimed at promoting the beautiful values of national culture, continuously raising public awareness, nurturing character, and training talented individuals. Education plays a central role in a knowledge-based economy's development, building a learning society, the desire to contribute, fostering a growth mindset, and progressively integrating Vietnam into the world.Through the exploitation of diverse information sources, the article attempts to present and analyze the context and current state of Viet Nam education after 1975; the policies, implemented solutions, and the fundamental achievements of Vietnamese education in the first decade of the unified era.

Defining Work Ethics in the Modern Labour Market: Ethical Competence Criteria Emerging from Technological Development and Moral-Theological Documents

Ethical competence is not an easily defined concept, especially with respect to the job requirements resulting from new technologies and digital transformation of the economy. The present paper attempts to define the competence profile of a worker in knowledge-based economy and workplaces using automation and digital technologies, but in relation to sources from encyclicals and other moral-theological documents. This profile includes specific ethical criteria, which are relevant and valid regardless of the times. Moreover, in the face of technological progress in modern economies, these criteria seem to have the power to influence the effectiveness of work processes. Thus, features such as respect for human dignity, responsibility, honesty, quality, courage, trustworthiness, justice, and secrecy should be considered as key for recruitment and evaluation of human capital in the modern labour market. As these are values mentioned in moral-theological documents, including papal encyclicals, they refer to the essence of human work and ensure that no man is reified.

Strategic renewal and its impact on enhancing the strength of expertise: A survey study of a sample of private banks – Baghdad

The study aims to form comprehensive intellectual visions and clear perceptions about the relationship between strategic renewal and the strength of expertise in light of the major changes in the business environment and the knowledge-based economy, in an attempt to generalize the model and the extent of its applicability in the Iraqi environment. The study was launched from an intellectual problem represented by the existing intellectual disparity due to the novelty of the subject and to bridge the knowledge gap between philosophical proposals and application, with the aim of identifying the impact of strategic renewal in enhancing the strength of expertise. The study relied on the descriptive analytical approach by deriving hypotheses and testing them based on a questionnaire distributed to (124) senior management, employees, and managers of departments and divisions in a sample of private commercial banks in Baghdad. To analyze the data, statistical methods and tools were used to analyze the data through statistical programs (SPSS), (AMOS 23). The results showed the validity of all the main and sub-hypotheses of the study. Based on that, a set of conclusions were formulated that recommend the necessity for private commercial banks to increase investment in strategic renewal and focus on renewing ideas and developing banking services provided to customers and keeping pace with developments in banking services provided in developed countries.

Relationship Between Occupational Stress Level and Readiness Towards Knowledge Sharing Among IT Sector Employees

In the era of a knowledge-based economy, effective knowledge management, including knowledge sharing, is one of the determinants of organizational performance. Therefore, the task of companies should be to optimize the process of knowledge sharing, which is achieved by, among other things, a thorough understanding and use of the factors that affect this process. Aim. The purpose of the article was to study the relationship between the level of occupational stress and readiness towards knowledge sharing among IT Sector Employees. Method. A cross-sectional study model was applied. The study included 98 employees from the IT industry. The study used the Perceived Stress at Work Scale (PSaW) by Chirkowska-Smolak and Grobelny and a self-designed survey including: demographic data, work-related variables and questions about knowledge sharing with co-workers. Results. In the surveyed group of IT workers, greater readiness to share knowledge was found among employees who showed lower scores on the PSaW scale. In addition, significant relationships were found between the study variables according to the selected variables, including that among women with low rates of perceived stress at work, older women showed greater willingness to share knowledge compared to younger women. Furthermore, in terms of work-related variables, the results showed that among men declaring high rates of stress, those with shorter seniority were more willing to share knowledge compared to men with longer seniority. Conclusions: The research findings significantly broaden knowledge in the sphere of the factors influencing the effective organization of the knowledge management process, particularly knowledge sharing under stressful work conditions. This knowledge can be useful especially for IT managers.

Evaluation of University Ranking System to Propose a Model for Bangladeshi Universities

This study investigates and compares various university ranking systems, particularly considering the unique situation of Bangladesh. With the rise of globalization and emphasis on research in the knowledge-based economy, university rankings have gained significant attention. However, different organizations use diverse criteria and methodologies, leading to discrepancies in ranking positions. This research employed a two-phase approach. The first phase involved a systematic literature review focusing on globally used indicators and methodologies for university rankings. This phase revealed that research-related indicators hold the highest weightage (67.93%) in most ranking systems. Subsequently, the second phase utilized active ranking algorithms to explore the findings from the first phase. The study concludes that research output significantly influences a university's ranking and competitiveness globally. Considering Bangladesh's lower publication volume compared to other nations, adopting a ranking system like QS or THEWUR could be beneficial. This system aligns with the global focus on research output and could incentivize research efforts within Bangladeshi universities.

Human Capital Attraction and Retention in Cities: An Analysis in the Brazilian Context

Objective: To analyze how factors of human capital attraction and retention manifest in a Brazilian city, considering that most empirical studies on the topic focus on European, Asian, and North American contexts. Theoretical Framework: The research is grounded in concepts and theories on the role of cities in the knowledge-based, creative, and innovative economy, as well as human capital mobility, providing a solid foundation for the investigation. Method: A qualitative approach was adopted, utilizing a case study in the city of Florianópolis. Data collection involved secondary sources and 17 semi-structured interviews with qualified professionals in the technology sector, academics, and local public managers. Results and Discussion: Factors of human capital attraction and retention observed in cities of advanced countries, such as social tolerance, quality of life, entrepreneurial and innovation environment, and education, are also applicable to a Brazilian city. The factors of effective public policies and sense of community emerged as relevant. An interdependence between factors was observed, with the entrepreneurial and innovation environment being the most significant. Research Implications: This research offers theoretical and practical insights for administration and public policy, particularly for highly qualified professionals, entrepreneurs in knowledge-intensive sectors, and public managers of cities in emerging countries. Originality/Value: The study highlights how factors of human capital attraction and retention manifest in a Brazilian city, potentially guiding decisions by entrepreneurs and public managers interested in promoting local development.

Future Requirements and Challenges of Universities and Higher Education Institutions in the Knowledge-Based Economy: Literature Reviews

Future Requirements and Challenges of Universities and Higher Education Institutions in the Knowledge-Based Economy: Literature Reviews

Are small and medium-sized enterprises the strength of the Polish economy?

The research conducted under the micro-project Intellectual Capital and Technological Development of Small and Medium-Sized Enterprises in Poland focused on the impact of intellectual capital on the technological development of SME. The purpose of this research was to determine the influence of intellectual capital on the technological advancement of these enterprises. Due to the broad approach to economic development and the significant role of SMEs in the economy, a series of three articles was chosen as the publication format. This publication serves as an introduction, addressing the essence and importance of the SME sector. The article aims to confirm the impact of the SME sector on the economic development of the country, which is considered significant based on statistical data. The data reveal a favourable statistical picture of SMEs, showing an increase in the number of business entities and their positive impact on the labour market and GDP growth. The findings underscore the need for continued efforts to eliminate ineffective management practices withing the various components of intellectual capital. The subject matter of the research cycle continues in the next two papers. The second article, entitled “The Role of Intangible Resources in Shaping the Value of Knowledge-Based Enterprises” emphasises the need and necessity of implementing in small and medium-sized entities. The third article, considers it important to identify, measure, and value these assets. Detailing the methods of doing so, it summarises the research results and points to intangible assets as the main determinants of company management in a knowledge-based economy. It demonstrates the significant impact that small and medium-sized businesses could have on the development of the national economy if the management of intellectual capital in these enterprises adhered to the principles of conscious and rational use of knowledge assets. As a result of the increasing importance of a company’s intellectual capital – including its human resources, structural, and relational values – small and medium-sized enterprises must change their previous intuitive, approach to their management to a conscious and strategic approach. This transition will enable them to remain competitive in the market in an era of widespread technological and other changes affecting the product and labour market. In view of the volatile environment and the development of a knowledge-based economy, the ability to manage intangible assets becomes particularly important for the development of enterprises, both large and those in the SME sector. Effective management of intellectual capital should be considered a key competence in this area. Although the tools for managing this invisible potential are discussed in the literature and practically applied in large companies, they are only beginning to be adopted by small and medium-sized enterprises. Given the significant contribution of these entities to national income generation and job creation, it is necessary to adapt and implement the concept of intangible asset management to suit the operating conditions of small business.

The Impact of Intellectual Capital on Enterprise Performance in Saudi Arabia: Literature Review of Empirical Research

Physical assets such as buildings, plants, and so on, are important factors in the production era, but their importance has decreased with increased the importance of intangible assets in the knowledge era. In the knowledge-based economy, intellectual capital (IC) is one of the most important assets in an enterprise for achieving sustainable competitive advantages. As a result, research on the correlation between IC and enterprise performance (EP) and its role in achieving competitive advantage has become one of the most controversial topics in accounting globally. The findings of the empirical research have been inconsistent; there is no consensus on the effect of IC on the enterprise's performance due to the different definitions and methods of measuring IC used among researchers. The paper focuses on reviewing empirical research about the effect of IC on EP in Saudi Arabia, aiming at a presentation of recent developments and a discussion of the direction for future research. This paper is the first study to review empirical research on IC and EP in the Saudi context.

The Influence of Knowledge-based Economy and Accountability on Economic Growth

The Influence of Knowledge-based Economy and Accountability on Economic Growth