The Structural Components of a Knowledge-Based Economy

International Journal of Business Innovation and Research (Forthcoming)

Posted: 3 Jun 2012 Last revised: 12 Jun 2014

See all articles by D. Steven White

D. Steven White

University of Massachusetts at Dartmouth - Charlton College of Business

Angappa Gunasekaran

University of Massachusetts Dartmouth - Charlton College of Business

Godwin Ariguzo

University of Massachusetts Dartmouth - Charlton College of Business

Date Written: May 5, 2012

Abstract

Little to no research exists to explain the structural components associated with the successful establishment of a knowledge-based economy. Nearly all developed countries are transitioning from service-based to knowledge-based and yet how to do so effectively and efficiently remains a mystery. The purpose of this research is to address this oversight. Based upon a review of the literature, five structural components of knowledge-based economies are identified and described. The five components consist of a foundation of information and communications technology, open innovation, education, knowledge management and creativity. At the macro-level, those seeking to establish a knowledge-based economy, whether local, regional or national, will be best served by following the structural template described. Policies and procedures to foster advances in each of the structural components should be developed strategically.

Keywords: knowledge-based economy, ICTs, open innovation, education, knowledge management, creativity, quaternary economy

JEL Classification: B22, F41, F43, l84, O11, O32, M13, M30

Suggested Citation

White, D. Steven and Gunasekaran, Angappa and Ariguzo, Godwin, The Structural Components of a Knowledge-Based Economy (May 5, 2012). International Journal of Business Innovation and Research (Forthcoming), Available at SSRN: https://ssrn.com/abstract=2073355 or http://dx.doi.org/10.2139/ssrn.2073355

D. Steven White (Contact Author)

University of Massachusetts at Dartmouth - Charlton College of Business ( email )

Department of Management & Marketing
285 Old Westport Road
North Dartmouth, MA 02747-2300
United States
5089998267 (Phone)

Angappa Gunasekaran

University of Massachusetts Dartmouth - Charlton College of Business ( email )

285 Old Westport Road
North Dartmouth, MA 02747
United States

Godwin Ariguzo

University of Massachusetts Dartmouth - Charlton College of Business ( email )

285 Old Westport Road
North Dartmouth, MA 02747
United States

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