Abstract

The author discusses the importance of information and knowledge for socio-economic development. According to the author, knowledge is a strategic resource that provides sustainable competitive advantage to organizations, and helps in the achievement of long term organizational goals. The author says that in a knowledge-based economy, capital and labor are not the major production factors as they are surpassed by knowledg.

Keyword

INFORMATION economy,THEORY of knowledge,COMPETITIVE advantage,ORGANIZATIONAL goals,COMPETITION (Economics),LABOR