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Knowledge economy and society

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Short introduction of the knowledge economy and knowledge society presented at a doctoral course at JAIST.

Short introduction of the knowledge economy and knowledge society presented at a doctoral course at JAIST.

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  • Great job. You explained clearly on Knowledge economy and society.

    Roy Jan
    http://be.freepolyphonicringtones.org/ http://dk.freepolyphonicringtones.org/
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  • Great demonstration about the need to innovate company models; how you can represent them succinctly; along with the intent to make advancement initiatives actionable. Superb use of images and obvious to see illustrative samples.
    Teisha
    http://dashinghealth.com http://healthimplants.com
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  • 1. The Knowledge Economy and the Knowledge Society K 612 Next-Generation Knowledge Management Prof. Katsuhiro Umemoto JAIST - Japan Advanced Institute of Science and Technology Graduate School of Knowledge Science Ver 1.13 – 2006-10-15
  • 2. Have you ever thought about it?
    • What is the knowledge economy?
    • What is the knowledge society?
    • Why should we care about them?
  • 3. Knowledge economy
    • Proposed definition
    • Economic properties of knowledge
    • New economic dynamics
  • 4. Economy is about…
    • … production , distribution and consumption of goods and services
    • … markets and firms (in the case of capitalism)
    • … efficient allocation of resources
      • Land (raw materials, natural resources)
      • Labor (workers’ time and effort, expertise)
      • Capital (equipments, plants, wealth, etc.)
  • 5. What is the knowledge economy?
    • Knowledge has become the main resource
    • The pace of innovation is accelerating (not only in products and services, but also in processes, markets, sourcing, business models, etc.)
  • 6. Growth of K in the economy
    • Knowledge industries
      • Knowledge itself is the product/service (e.g., software, media, entertainment, consulting)
    • Knowledge-intensive industries
      • High level of K embedded in products/services (e.g., electronics, computer, pharmaceutical)
    • Traditional industries
      • Capital and labor still largely relevant (e.g., oil & gas, construction, transportation, retail)
    Pace of change
  • 7. Knowledge has different properties
    • Low rivalry (usually said non-rivalry )
      • Use by one person does not diminish it
    • Low excludability (usually said partial excludability )
      • It is difficult to prevent others from using it
    • Knowledge is both input and output
      • Today’s innovations feed tomorrow’s
    • In other words…
      • Knowledge is an infinite resource
      • Knowledge tends to spread
  • 8. The dynamics of K industries
    • Knowledge has positive externalities:
    • Spillovers (one person’s investment benefits others)
      • Investment in research/education benefits many
    • Increasing returns (positive feedback)
      • In costs : high upfront costs, low marginal costs
      • In supply : the more you know, the easier to acquire
      • In utilization : the more you use, the easier to use
      • In demand : the more you sell, the easier to sell
    • Network externalities (adopters   value  )
  • 9. Summary
    • Economic value comes mainly from knowledge
      • The pace of innovation accelerates
      • The economy evolves at different paces, with different levels of knowledge intensity
    • Knowledge has different properties
      • Low rivalry and excludability: tends to a public good
      • Multiplicative effect: “shoulders of giants” effect
    • A new competitive dynamics, with new rules
      • Increasing returns
  • 10. Knowledge society
    • Alternative views
    • Network-based knowledge society
    • New social dynamics
    • Ethical challenges
  • 11. Society is about…
    • … social relations (social interactions regulated by social norms , involving social positions and social roles )
    • … culture (patterns of social practice , norms of behavior, value systems, traditions , beliefs , etc.)
    • … institutions (social structures and mechanisms of social order and cooperation )
      • E.g., family, government, media, money, property, labor, etc.
    • Analysis of the K society is more complex!
  • 12. Alternative views on the K society
    • Primacy of scientific knowledge (Bell 1973; Stehr 1994)
      • K as source of authority and basis of social stratification
      • Scientific research as the ultimate source of knowledge
    • Rise of knowledge work (Drucker 1969; Reich 1991)
      • Fastest growing section of the workforce
      • Knowledge workers own their knowledge
    • Networked society (Castells 2000; Benkler 2006)
      • Networked economy, work and social relations
      • Enabled by information and communication technology
  • 13. A network-view of the K society
    • Two basic conditions
      • Society’s material needs are fulfilled, so there is greater space for non-market behavior
      • Tools for knowledge creation, utilization and sharing become widely available
    • Knowledge production, distribution and consumption becomes decentralized
      • Exponential growth in knowledge availability
      • Growth and expansion of social networks
  • 14. Networked dynamics
    • Open culture
      • Content is made publicly available (e.g., the whole Web, creative commons, WiFi)
    • The Blogosphere and social networking
      • Persistent, distributed, open conversation
      • Leads to unmediated communication, collective thinking and social mobilization
    • Peer production
      • Radically decentralized cooperative production (e.g., GNU/Linux, Wikipedia, Slashdot, Everquest)
  • 15. The ugly side…
    • The network can be used for both good and bad
    • Questionable content
      • Worthless (e.g., spam, ads, porn)
      • Strongly biased (e.g., propaganda, prejudice)
      • About unethical procedures (e.g., hacking, terror)
    • Questionable actions
      • Identity cheating, spyware, etc.
      • Bullying, defaming, etc.
      • Crime (e.g., phishing, hacking, theft, etc.)
  • 16. Summary
    • Three perspectives on the knowledge society
      • Primacy of scientific knowledge
      • Rise of knowledge work
      • Networked society
    • Networked-view of the knowledge society
      • Decentralization of knowledge production, distribution and consumption
        • More open, democratic social relations
        • Non-market behavior becomes salient
      • Conflict along the transition is expected
  • 17. Implications
    • Levels of analysis:
    • Societal
    • Organizational
    • Individual
  • 18. Societal level
    • Development of public policies on:
    • Scientific and technological research
    • Industrial development (K-intensive industries)
    • ICT infrastructure (access rights, digital inclusion)
    • Intellectual property (patents, copyright, commons)
    • Education (knowledge work and citizenship)
  • 19. Organizational level
    • External issues
      • Scan the environment (e.g., public policies, S&T development, competitors’ behavior, etc.
      • Improve knowledge creation and transfer through collaborative arrangements and acquisitions
      • Open channels with customers and society
    • Internal issues
      • Develop absorptive and innovative capacity
      • Manage knowledge work and workers
      • Explore contracting and outsourcing alternatives
  • 20. Individual level
    • Learn continuously (knowledge  value)
      • Formal and informal education
      • Challenging assignments
    • Manage own career (value  reputation)
      • Market oneself and manage opportunities
      • Cultivate professional and personal networks
    • Engage in knowledge networks
    • Develop ethical sense
  • 21. Summary
    • Knowledge economy and knowledge society follow distinct paths of analysis
    • Both have been extensively discussed, but there is much ground for work
    • Both bring about important practical implications at societal, organizational and individual levels
  • 22. Types of knowledge work Complexity of work Level of interdependence Judgment Routine Groups Individuals Source : Adapted from Davenport (2005), Thinking for a Living
    • Integration
    • Systematic work
    • Methodologies and standards
    • Integration across functional boundaries
    • Transaction
    • Routine work
    • Rules and procedures
    • Low-discretion workforce or information
    • Expert
    • Judgment-oriented work
    • Individual expertise and experience
    • Star performance
    • Collaboration
    • Improvisational work
    • Deep expertise across functions
    • Fluid deployment of flexible teams
  • 23. An emerging relationship through blogs Andrea accesses past entries from Lilia’s blog Lilia posts answers to Andrea in her own blog A new surge in reciprocal posts and comments after some time Direct exchanges through email and skype Source : Adapted from Efimova, Lilia (October 03, 2006), Artefacts of a weblog-mediated relationship: a visualisation , retrieved 2006-10-11 <http://blog.mathemagenic.com/ 2006/10/03.html#a1839>
  • 24. Protecting the commons
    • Three layers in the commons infrastructure
    Informational (content) Logical (software) Physical (network) Creative commons Open software Network neutrality Forms of control Potential responses Source : Inspired by Benkler (2006), Wealth of Networks

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