Information & Knowledge Management - Knowledge Based Products and Services

• Is your firm proficient in knowledge-based management?
• Are you on the cutting edge of information and knowledge management?
• How will mediocrity in this area retard your firms return on investment (ROI)?
• Does your agency really know how to implement an information sharing environment (ISE)?

For our purposes, the knowledge economy refers to an economy of knowledge focused on production and management of knowledge framed in economic constraints, also the use of knowledge technologies such as knowledge engineering and knowledge management to produce economic benefits and create jobs.

Knowledge is a product. In a knowledge-based economy knowledge is also a tool. For profitability and sustainability purposes, these two areas are strongly interdisciplinary, involving economics, computer science, software engineering, mathematics, psychologists and others.

Today's global economy is in transition to a "knowledge economy" - an extension of an "information society". This transition requires that the rules and practices that determined success in the industrial economy need rewriting for an interconnected, globalized economy where knowledge resources such as know-how and expertise are as much or perhaps more critical than other economic resources.

Analysts predict the "knowledge economy" rules need to be rewritten at the levels of firms and industries in terms of knowledge management and at the level of public policy as knowledge policy or knowledge-related policy. One thing is clear – the firm who does not stay on the cutting edge in this area will falter and perhaps become unsustainable. Will this be you?

As an example, knowledge and education (human capital) can be treated as:

• A business product, as educational and innovative intellectual products, and services can be exported for a high value return.
• A productive asset.

What is required to do this? The primary challenge is converging the information society with the knowledge society. This requires understanding and implementing multiple driving forces that are changing the rules of business and national competitiveness in this area:

• Globalization — markets and products
• Information technology
• Information/Knowledge Intensity — efficient production relies on information and know-how; over 70 per cent of workers- in developed economies are information workers (many factory workers use their heads more than their hands).
• New and evolving media increases the production and distribution of knowledge which results in collective intelligence. Existing knowledge becomes much easier to access as a result of networked data-bases that promote online interaction between users and producers.
• Computer networking/Connectivity, i.e., the Internet brings the "global village" ever nearer.

As a result, goods and services can be developed, bought, sold, and in many cases even delivered over electronic networks. But, does your old and new technology meet economic demands. TINMORE INSTITUTE can ensure a diffusion of innovation that can make a commercial breakthrough and a greater ROI. Let us help you.