Dynamics of Knowledge Development in a Competitive Economy - Exploring the Role of Ideas


Affiliations

  • Acharya Institute of Technology, MBA Institution, Bangalore, India
  • M. S. Ramaiah Institute of Management, Bangalore, India

Abstract

In recent times, knowledge has become the major driving force for economic development through free trade and competition. In the process, the global economy got gradually transformed into a knowledge-based economic system. Since knowledge is considered as a critical strategic resource, its development and utilization has become a matter of major concern to all analysts. It is in this context, the present paper derives its relevance and utility. It is being increasingly realized that competition is not fought in the market places but in the R&D Labs, which are said to be the factories of ideas (or knowledge in general) while the markets are their testing grounds. Keeping this in mind, the paper attempts to analyze the nature and significance of the dynamics of knowledge development and also the role and significance of idea generation and its ideation modes, to gain competitive advantage.

Keywords

Knowledge, Knowledge-Based Economy, Competitive Advantage, Idea Generation, Ideation Processes.

Subject Discipline

Economics

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References

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