Abstract
Today, there is an emerging view that we are at one of those rare inflection points along the path of world evolution. Some observers describe today’s global economy as one in transition from an industrial to a knowledge economy (KE) where investment in intangibles is increasingly recognized as the source of wealth, competitiveness and prosperity. The literature on intangibles exploded throughout the 1990s and many firms, academic institutions and governments, as well as influential organizations (such as, the OECD, the World Bank Institute (WBI), the European Commission (EC), the Brookings Institute, and the International Federation of Accountants) put intangibles discussion into their agenda. At the same time, the popular use of some terms, such as intellectual capital, intangible capital, knowledge organizations, knowledge workers, learning organizations, intellectual assets, intelligent cities, knowledge regions or others has become part of a new lexicon describing new forms of economic value creation and social organization while challenging mental models and business models.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Adams, M. and Oleksak, M. (2010). Intangible capital. California: Praeger.
Andriessen, D. and Tissen, R. (2000). Weightless wealth: Find your real value in a future of intangible assets. London: Financial Times Prentice-Hall.
Arthur, W.B. (1996). ‘Increasing returns and the new world of business’. Harvard Business Review, 74, 4, 100–9.
Augier, M. and Teece, D.J. (2005). ‘An economics perspective on intellectual capital’. In Marr, B. (ed.), Perspectives on intellectual capital — multidisciplinary insights into management, measurement, and reporting. Oxford: Butterworth-Heinemann, 3–27.
Bang, A., Cleemann, C.M. and Bramming P. (2010). ‘How to create business value in the knowledge economy. Accelerating thoughts of Peter F. Drucker’. Management Decision, 48, 4, 616–27.
Barney, J.B. (1991). ‘Firm resources and sustained competitive advantage’. Journal of Management, 17, 99–120.
Bertels, T. and Savage, C.M. (1998). ‘Tough questions on knowledge management’. In Von Krogh, G., Roos, J. and Klein, D. (eds.), Knowing in firms — understanding, managing, and measuring knowledge. London: Sage Publications Inc., 7–25.
Bounfour, A. and Edvinsson, L. (2005). Intellectual capital for communities. Oxford: Butterworth-Heinemann.
Burton-Jones, A. (2000). Knowledge capitalism. Oxford: Oxford University Press.
Cappelli, P. (1999). ‘Career jobs are dead’. California Management Review, 42, 1, 146–67.
Clarke, T. (2001). ‘The knowledge economy’. Education and Training, 43, 4/5, 189–96.
Cooke, P., Gomez Uranga, M. and Etxebarria, G. (1997). ‘Regional innovation systems: Institutional and organisational dimensions’. Research Policy, 26, 475–91.
Crocitto, M. and Youssef, M. (2003). ‘The human side of organisational agility’. Industrial Management & Data Systems, 103/6, 388–97.
Daft, R. (1983). Organisation theory and design. New York: West.
D’Avini, R. (1994). Hypercompetition: Managing the dynamics of strategic manoeuvring. New York, NY: New York.
Davenport, T.H. and Prusak, L. (1998). Working knowledge — how organizations manage what they know. Boston, Massachusetts: Harvard Business School Press.
David, P.A. and Foray, D. (2003). Economic fundamentals of the knowledge society. Policy Futures in Education, 1, 1, 20–47.
DeVol, R.C. (1999). America’s high-tech economy: Growth, development and risks for metropolitan areas. Santa Monica: Milken Institute.
Drucker, P. (1969). The age of discontinuity: Guidelines to our changing society. London: Heinemann.
Drucker, P. (1993). Post-capitalist Society. Oxford: Butterworth-Heinemann Ltd.
Edvinsson, L. (2000). Some perspectives on intangibles and intellectual capital. Journal of Intellectual Capital, 1, 1, 12–16.
Galvin, R. (1996). ‘Managing knowledge towards wisdom’. European Management Journal, 14, 4, 374–8.
Grant, R. (1996). ‘Towards a knowledge-based theory of the firm’. Strategic Management Journal, 17, 109–22.
Gratton, L. and Ghoshal, S. (2003). ‘Managing personal human capital: New ethos for the “volunteer” employee’. European Management Journal, 21, 1, 1–10.
Hamel, G. (2000). Leading the revolution. Boston, MA: Harvard Business School Press.
Handy, C. (1989). The age of unreason. London: Arrow.
Handy, C. (2001). ‘Tocqueville revisited: The meaning of American prosperity’. Harvard Business Review, 79, 1, 57–63.
Hearn, G. and Rooney, D. (2002). ‘The future role of government in knowledge-based economies’. Foresight, 4, 6, 23–33.
Hitt, M.A., Ireland, R.D., and Camp, S.M. (2001). Guest editor’s introduction to the special issue: ‘Strategic entrepreneurship: Entrepreneurial strategies for wealth creation’. Strategic Management Journal, 22, 479–91.
Johannessen, J-A, Olaisen, J. and Bjern, O. (1999). ‘Managing and organizing innovation in the knowledge economy’. European Journal of Innovation Management, 2, 3, 116–28.
Johnston, R. and Blumentritt, R. (1998). ‘Knowledge moves to centre stage’. Science Communication, 20, 1, 99–105.
Ketels, C.H.M. and Memedovic O. (2008). ‘From clusters to cluster-based economic development’. International Journal of Technological Learning, Innovation and Development, 1, 3, 375–92.
Kogut, B. and Zander, U. (1993). ‘Knowledge of the firm, combinative capabilities, and the replication of technology’, Organization Science, 3, 3, 383–97.
Lagendijk, A. (2000). ‘Regional Paths of Institutional Anchoring in the Global Economy. The Case of the North-East of England and Aragón’. In J. Groenewegenen and W. Elsner (Eds.), An Industrial Policy Agenda 2000 and Beyond — New Challenges to Industrial Policy. Dordrecht: Kluwer Academic, 184–222.
Leonard-Barton, D. (1995). Wellsprings of knowledge: Building and sustaining the sources of innovation. Boston, MA: Harvard Business School Press.
Liebeskind, J.P. (1996). ‘Knowledge, strategy and the theory of the firm’. Strategic Management Journal, 17 (special winter issue), 93–107.
Lundvall, B-A and Forey, D. (1996). ‘The knowledge-based economy: from the economics of knowledge to the learning economy’. In OECD Employment and growth in knowledge-based economy. Paris: OECD.
Lundvall, B.-Å and Johnson, B. (1994). ‘The learning economy’. Journal of Industry Studies, 1, 2, 23–42.
Machlup, F. (1980). Knowledge: Its creation, distribution, and economic significance. Princeton, New Jersey: Princeton University Press.
Man, T.W.Y., Lau, T. and Chan, K.F. (2002). “The Competitiveness of Small and Medium Enterprises. A Conceptualisation with Focus on Entrepreneurial Competencies”. Journal of Business Venturing, Vol. 17, pp. 123–142.
Marshall, A. (1890). Principles of Economics. 1965 edition, London: Palgrave Macmillan.
Marr, B. (2005). ‘The evolution and convergence of intellectual capital as a theme’. In Marr, B. (ed.), Perspectives on intellectual capital — multidisciplinary insights into management, measurement, and reporting. Oxford: Butterworth-Heinemann.
Marr, B., Gupta, O., Pike, S. and Roos, G. (2003). ‘Intellectual capital and knowledge management effectiveness’. Management Decision, 42, 8, 771–81.
Martins, B. and Viedma, J.M. (2006a). Innovating through the lens of social entrepreneurship to tackle poverty reduction. Paper presented to GLOBal network for Economics of Learning, Innovation and Competence building Systems (GLOBELICS) Conference. Trivandrum, Kerala, India, 4–7 October.
Martins, B. and Viedma, J.M. (2006b). ‘The region’s intellectual capital bench-marking system: Enabling economic growth through evaluation’. Journal of Knowledge Management, 10, 5, 41–54.
Maskell, P. and Malmberg, A. (1999). ‘The competitiveness of firms and regions: ‘ubiquitification’ and the importance of localised learning’. European Urban and Regional Studies, 6, 1, 9–26.
Maturana, H. and Varela, F. (1980). Autopoiesis and cognition: The realization of the living. London: Reidl D.
Nonaka, I. (1994). ‘A dynamic theory of organizational knowledge creation’. Organization Science, 5, 1, 14–37.
Nonaka, I. and Takeuchi, H. (1995). The knowledge creating company: How Japanese companies manage the dynamics of innovation. Oxford: Oxford University Press.
Nonaka, I. and Konno, N. (1999). ‘The concept of ba: Building a foundation for knowledge creation’. In Cortada, J.W. and Woods, J.A. (eds), The knowledge management yearbook1999–2000. Boston: Butterworth-Heinemann, 37–51.
Nonaka, I., Toyama, R. and Konno, N. (2000). ‘SECI, Ba and leadership: A unified model of dynamic knowledge creation’. Long Range Planning, 33, 5–34.
Organisation for Economic Co-Operation and Development (OECD) (1996). ‘The knowledge-based economy’. In 1996 Science, technology and industry outlook. Paris: OECD.
Organisation for Economic Co-Operation and Development (OECD) (2001). Science, technology, and industry - Scoreboard 2001: Towards a knowledge-based economy. Paris: OECD.
Organisation for Economic Co-Operation and Development (OECD) (2006). Creating value from intellectual assets. Meeting of the OECD council at Ministerial level.
Penrose, E.T. (1959). The theory of the growth of the firm. New York: John Wiley.
Pérez-Bustamante, G. (1999). ‘Knowledge management in agile innovative organisations’. Journal of Knowledge Management, 3, 1, 6–17.
Peteraf, M.A. (1993). ‘The cornerstones of competitive advantage: A resource-based view’. Strategic Management Journal, 14: 179–91.
Piore, M.J. and Sabel, C.F. (1984). The second industrial divide: Possibilities for prosperity. New York: Basic Books.
Pöyhönen, A. and Blomqvist, K. (2006). ‘Knowledge-based view of the firm — foundations, focal concepts and emerging research issues’. In Proceedings of the 7th European Conference on Knowledge Management, Corvinus University of Budapest, Hungary, 4–5 September.
Prahalad, C.K. and Hamel, G. (1994). ‘Strategy as a field of study: Why search for a new paradigm?’ Strategic Management Journal, 15, 5–16.
Quinn, J.B. (1992). Intelligent enterprise: A new paradigm for a new era. New York: The Free Press.
Rijn, S. and Tissen, R. (2007). ‘Building creative cities: Towards ‘industry-based’ knowledge management in urban vision development processes’. In Proceedings of the 8th European Conference on Knowledge Management, Spain, Barcelona, 6–7 September.
Romer, P.M. (1986). ‘Increasing returns and long run growth’. Journal of Political Economy, 94, 1002–37.
Romer, P.M. (1996). ‘Why indeed in America? Theory, history and the origins of modern economic growth’. American Economic Review, 86, 202–6.
Roos, G. (2005). ‘An epistemology perspective on intellectual capital’. In Marr, B. (ed.), Perspectives on intellectual capital — multidisciplinary insights into management, measurement, and reporting. Oxford: Butterworth-Heinemann, 196–209.
Rumelt, R. P. (1984). ‘Towards a strategic theory of the firm’. In Lamb, R.B. (ed.), Competitive Strategic Management. Engelwood Cliffs, NJ: Prentice-Hall, 566–70.
Schalk, R. and Rousseau, D.M. (2001). ‘Psychological contracts in employment’. In Anderson, N., Ones, D.S., Kepir Sinangil, H. and Viswesvaran (eds), Handbook of industrial work & organizational psychology. Thousand Oaks: Sage, 133–42.
Schumpeter, J. (1934). The theory of economic development. Cambridge, MA: Harvard University Press.
Scott, A.J. and Storper, M. (2003). ‘Regions, globalization, development’. Regional Studies, 37, 6–7, 549–78.
Sheehan, P. (1999). ‘The global knowledge economy: Challenges for China’s development’. Working Paper 5, Centre for Strategic Economic Studies, Victoria University of Melbourne, Australia.
Smedlund, A. and Pöyhönen, A. (2005). ‘Intellectual capital creation: A knowledge system approach. In Bounfour, A. and Edvinsson, L. (ed.), Intellectual capital for communities. Oxford: Butterworth-Heinemann, 227–52.
Smith, A. (1776). An inquiry into the nature and causes of the wealth of nations. 1910 edition, London: J.M Dent. First published 1776.
Smith, K. (2002). ‘What is the “knowledge economy”? Knowledge intensity and distributed knowledge bases’. UNU/INTECH Discussion paper. United Nations University, Institute for New Technologies.
Solow, R. (1970). Growth theory: An exposition. London: Oxford University Press.
Sotorauta, M. (2003). ‘Dynamic capacities in promotion of economic development of city-regions’. Paper presented at the 43rd European Congress of the Regional Science Association. Jyväskylä, Finland, [online] http://www-sre.wu-wien.ac.at/ersa/ersaconfs/ersa03/cdrom/papers/427.pdf
Spender, J-C. (1996a). ‘Organizational knowledge, learning and memory: Three concepts in search of a theory’. Journal of Organizational Change, 9, 1, 63–78.
Spender, J-C. (1996b). ‘Making knowledge the basis of a dynamic theory of the firm’. Strategic Management Journal, 17 (special winter issue), 45–62.
Spender, J-C. and Grant, R. M. (1996). ‘Knowledge and the firm: Overview’. Strategic Management Journal, 17 (Special Winter Issue), 5–9.
Stewart, T.A. (1997). Intellectual capital: The new wealth of nations. New York: Doubleday.
Sveiby, K.E. (1997). The new organizational wealth: Managing and measuring_knowledge-based assets. New York: Berrett-Koehler.
Sveiby, K.E. (2001). ‘A knowledge-based theory of the firm to guide strategy formulation’. Journal of Intellectual Capital, 2, 4, 344–58.
Sylvester, E. and Klotz, L. (1983). The gene age. New York: Scribner’s.
Toffler, A. (1980). The third wave. London: Collins.
Venzin, M., von Krogh, G. and Roos, J. (1998). ‘Future research into knowledge management’. In Von Krogh, G., Roos, J. and Klein, D. (eds), Knowing in firms — understanding, managing and measuring knowledge. London: Sage Publications Inc., 26–66.
Viedma, J.M. (2005). ‘Cities’ Intellectual Capital Benchmarking System (CICBS): A methodology and a framework for measuring and managing intellectual capital of cities: A practical application in the city of Mataró’. In Bounfour, A. and Edvinsson, L. (eds), Intellectual Capital for Communities. Burlington, MA: Butterworth-Heinemann, 317–35.
Viedma, J.M. and Enache, C.M. (2007). ‘Managing personal human capital for professional excellence: An attempt to design a practical methodology’. Paper presented at the 28th McMaster World Congress on Intellectual Capital & Innovation, Hamilton, Ontario, Canada, 24–26 January.
Vogt, E. (1995). ‘The nature of work’. Telecommunications, 29, 21–7.
von Krogh, G. and Roos, J. (1995). Organizational epistemology. New York: Macmillan and St. Martin’s Press.
Wernerfelt, B. (1984). ‘A resource-based view of the firm’. Strategic Management Journal, 5, 2, 171–80.
Wiig, K.M. (1997). ‘Knowledge management: An introduction and perspective’. Journal of Knowledge Management, 1, 1, 6–14.
The World Bank Group (2005). World Development Indicators [online] http://devdata.worldbank.org/wdi2005/Toc.htm
World Bank, (2003). ‘Implementing knowledge economy strategies. Innovation, lifelong learning, partnerships, networks and inclusion’. Knowledge Economy Forum II. Helsinki, 25–28 March.
Yigitcanlar, T. (2009). ‘Planning for knowledge-based urban development: global perspectives’. Journal of Knowledge Management, 13, 5, 228–42.
Copyright information
© 2012 José Maria Viedma Marti and Maria do Rosário Cabrita
About this chapter
Cite this chapter
Marti, J.M.V., do Rosário Cabrita, M. (2012). The Knowledge Economy. In: Entrepreneurial Excellence in the Knowledge Economy. Palgrave Macmillan, London. https://doi.org/10.1057/9781137024077_2
Download citation
DOI: https://doi.org/10.1057/9781137024077_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-43846-4
Online ISBN: 978-1-137-02407-7
eBook Packages: Palgrave Business & Management CollectionBusiness and Management (R0)