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What is a knowledge-based economy and how can we benefit from his arrival?

What is a knowledge-based economy and how can we benefit from his arrival?

It has long since the arrival of the knowledge-based economy announced. The big changes that are said to change the upside people are to us now. But what does the knowledge-based economy mean?


Knowledge-based economy is a kind of economy that is solely based on production, distribution and use of knowledge. In short, it means that the most important thing in the upcoming economic model will be knowledge and skills, not material products.

What is the difference?

At first, it seems there is only a slight difference between the normal economic model and knowledge-based knowledge. Well we just created, buy and sell products, and their nature seems exactly the same. But when we look closer, things change. There are several reasons for it:

1. Easy to copy knowledge. If you have a good idea, everyone will quickly adopt it unless you do something to prevent it.

2. Knowledge comes through easier limits than material products. While China is only harmful to several US economic sectors, the knowledge-based economic model asks most of our work to countries that have skilled workers, but are much cheaper than the US (India, and the eastern part of the EU. Is a good example from these places).

3. Knowledge quickly becomes obsolete. You must be prepared for constant creation of knowledge if you hope to follow your competitors.

How do you deal with knowledge problems in the company and benefit rather than suffering from incoming changes?

In short, knowledge-based economics will create many problems for small and large companies. Fake and your copyright infringement will take your advantage, most of your contractors will move their orders abroad and the situation in your company (and the whole economy) will change at the speed of light.

But instead of fighting unavoidable we can get a profit from it. The arrival of a new economic model will create new possibilities as a problem.

1. You will be able to use outsourcing to minimize your costs. At the effect you will be able to offer a lower price while remaining hand-sized for running a business in the US.

2. Instead of preventing everyone from using your ideas, going to share paid internet and let everyone get profit from your concept. Or let it all, offer your ideas for free and profit from advertising and high traffic on your website.

3. With the arrival of knowledge-based economic business management it has become easier than before. Internet and cellphones make contact anyone anywhere possible.

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