Comparative Advantage in the Knowledge Economy: A National and Organizational Resource

Globalization and ICT have transformed value creation, shifting from physical abilities to a knowledge-based economy. This requires the creation, acquisition, development, transmission, preservation, and utilization of knowledge for individual and social welfare. Comparative Advantage in the Knowledge Economy explores how educational achievement, skilled manpower, investment in knowledge capital, and analytics will determine a nation's success in the globalized era.

Format: Hardback
Length: 296 pages
Publication date: 08 June 2021
Publisher: Emerald Publishing Limited

Globalization and information and communications technology (ICT) have played a pivotal role in revolutionizing value creation through the development of human capital formation. The constantly changing needs and structure of the labor market are primarily responsible for the conversion of a traditional economy relying fundamentally on the application of physical abilities to a knowledge-based economy relying on ideas, technologies, and innovations. In this economy, knowledge has to be created, acquired, developed, transmitted, preserved, and utilized for the improvement of individual and social welfare.

Comparative Advantage in the Knowledge Economy: A National and Organizational Resource provides a comprehensive and insightful understanding of all the dimensions of a transition from a traditional to a knowledge economy. It attempts to explain how educational achievement, skilled manpower, investment in knowledge capital, and analytics will be the key to success of a nation's comparative advantage in the globalized era. The volume should be of interest to students, researchers, and teachers of economics, policy makers, and advanced graduate students with an interest in economic analyses and development policy.

The concept of comparative advantage is central to understanding the dynamics of trade and economic growth in the globalized era. It refers to the ability of a country or organization to produce a good or service at a lower cost than its competitors, thereby gaining a competitive advantage in the market. In the knowledge economy, the production of goods and services is increasingly driven by knowledge and intellectual capital, rather than physical resources and labor.

The book explores the various factors that contribute to a country's or organization's ability to gain a comparative advantage in the knowledge economy. It discusses the importance of education, training, and skill development in creating a workforce that can adapt to the changing demands of the industry. It also emphasizes the role of investment in knowledge capital, such as research and development, in generating new ideas and innovations that can drive economic growth.

The book further explores the role of analytics in gaining a competitive advantage in the knowledge economy. It discusses the use of data and statistical analysis to identify patterns and trends in the market, and to make informed decisions about product development, marketing, and operations. It also highlights the importance of organizational culture and leadership in fostering a knowledge-based environment that can support innovation and growth.

Overall, Comparative Advantage in the Knowledge Economy: A National and Organizational Resource provides a valuable resource for students, researchers, and policy makers interested in understanding the dynamics of the knowledge economy and the factors that contribute to a country's or organization's success in this competitive environment.

Weight: 544g
Dimension: 238 x 159 x 23 (mm)
ISBN-13: 9781800710412