Knowledge Asset Strengthening for Sustainable Development & Growth

Authors

  • Dr. Prafulla A. Pawar Department of Management Sciences (PUMBA), University of Pune, Pune (MS) India

Keywords:

Knowledge Asset, Globalization, Sustainable Development and productivity

Abstract

Increased competition around the globe in today's competitive scenario is the outcome of process of globalization. The cost of capital and productivity has made organization to realize the significance of managing costs for business efficiency. Thus they required tailor-made solutions for specific issues like cycle time efficiency, market research and demand-based management, this demand for management of knowledge asset. Accountant defines an assets as a stock from which a number of future services are expected to flow. Accordingly, knowledge assets are defined as “stock of knowledge from which services are expected to flow for a period that may be hard to specify in advance.”  In contrast to physical assets that may have limited life because of depreciation, knowledge asset may in theory last forever.

 Basic reason behind poor performance of the developing nation is unutilisation of skilled labour and availability of capital while develop nation in turn utilize their resources properly. The efficient utilization of the existing intangible, knowledge-related resources available in every sector of the economy would be responsible for enhancing the productivity of all factors of production. Thus today’s corporate world in the developing countries needs to focus on the factors that systematically enable effective knowledge management. These enablers include transparency, political will, enhancement of educational institutions, a comprehensive database, and greater connections between the public and private sectors.

Knowledge is critical for development. In the current thinking on sustainable development, the importance of knowledge and information as an asset for development is perhaps insufficiently recognized. For making the most effective use of limited assets, access to knowledge and information is very crucial as it mitigate the risk. There has been growing concern that research and development efforts have failed to achieve their full potential because they have overlooked the need to work with and strengthen the Knowledge and Information Systems.

References

Commission of the European Communities, Brussels (6.4.2005), COM (2005) 118 final, A Report, “Building the ERA of knowledge for growth”. Pp. 3-4

Calestous Duma & Lee Yee- Cheong, (2005), UN Millennium Project, “Innovation: Applying Knowledge for Innovation”. Pp. 17-20

Derek Asoh, Salvatore Belardo and Robert Neilson, (2002), Proceedings of the 35th Hawaii International Conference on System Sciences, “Knowledge Management: Issues, Challenges and Opportunities for Governments in the New Economy”.

Erich Spitaller, Article, International Monetary Fund “Knowledge, Growth and Sustainability”.

Graham Douglas, Founder, Integrative Federation, Australia, A Project, “Achieving Sustainable Development: The Integrative Improvement Institutes”. Pp. 2

India Brand Equity Foundation, (August 2005), Articles, “ICT in India: Linking People, Process and Technology”, Available on www.ibef.org (Accessed on 02/08/2007)

ICFAI University Press, Article, “Knowledge Process Outsourcing: Perspectives and Practices”, Available on www.icfai.org (Accessed on 05/08/2007)

Inside Knowledge, (29 Jun 2001), Articles, “Knowledge asset management”, Available on www. ikmagazine.com, (Accessed on 8 September, 2007)

Kenan Patrick Jarboe & Athena Alliance (April 2001), Reviews of Economic, Development, U.S. Economic Development Administration, “Knowledge Management As An Economic Development Strategy”. Pp 13

Knowledge Asset Management – Wikipedia, Article, “Knowledge asset management”, Available on Wikipedia.com, (Accessed on 8 September, 2007)

Vikas Nath, (April 2000), Article, Know Net Initiative, London School of Economics “Knowledge Networking for Sustainable Development”. Innovator, available at http://www.cddc.vt.edu/knownet/articles/exchanges-ict.html accessed on 5 August 2011.

Yogesh D. Malhotra, (4-5 Sept. 2003), Article, United Nation Advisory Meeting, “Measuring Knowledge Assets of Nation: Knowledge System for Nation” Pp. 2-5.

Downloads

Published

27-01-2022

How to Cite

Dr. Prafulla A. Pawar. (2022). Knowledge Asset Strengthening for Sustainable Development & Growth. Indian Journal of Commerce and Management Studies, 3(1), 104–107. Retrieved from https://ijcms.in/index.php/ijcms/article/view/567

Issue

Section

Articles