knowledge economy

The knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is primarily driven by knowledge-intensive activities that contribute to the advancement of technical and scientific innovation. The key element of value in this paradigm lies in the increased reliance on human capital and intellectual property as primary sources of innovative ideas, information, and practices. Organizations are called upon to leverage this "knowledge" in their production processes to stimulate and consolidate their business development. This approach is characterized by reduced dependence on physical inputs and natural resources. A knowledge-based economy is founded on the crucial role of intangible assets within organisations as an enabler of modern economic growth.

Overview