Knowledge-based economy as a contemporary challenge

Abstract

In the changing environment, it is necessary to create conditions conducive
to the creation of entities that base their competitive advantage on
knowledge. Knowledge becomes a strategic factor for the development and
growth of competitiveness. Knowledge-based economy, the new economy,
the network economy in the knowledge society are new directions for the
development of the modern world. The article presents the essence, basics
and carriers of knowledge-based economy, and discusses selected definitions
of knowledge-based economy. It indicates and discusses the characteristics
of knowledge-based economy formulated by selected authors. It presents the
entities that influence the creation of knowledge-based economy. It shows
that knowledge is the basic resource in an organization. The author discusses
the essence and the need for knowledge management, indicates the goals and
aspects of knowledge management and presents selected factors influencing
the functioning of the knowledge management system.