After the Industrial Revolution, which was followed by the technology revolution, the world is now witnessing another revolution driven by knowledge. Earlier, growth was determined mainly by the availability of land, labor, capital and natural resources. However, in the 21st century, knowledge is recognized as one of the crucial factors for economic growth. Organizations need to be adept at absorbing, creating, and applying new knowledge in order to thrive in a rapidly changing and unpredictable environment. In a Knowledge-based Economy (KBE), organizations will require understanding, rapid adaptability and proactive change of the rules of the game.
ABOUT THE AUTHOR N. Janardhan Rao
N Janardhan Rao holds an MA (Economics) from Osmania University and PGDBA. He is presently working as Deputy Editor at the Icfai University Press. He is a member of Board of Editors of Icfai and also Consulting Editor of Icfai Journal of Knowledge Management, and MBA Review. He regularly contributes articles to the Chartered Financial Analyst magazine and other Icfai Publications, such as Icfai Reader and Global CEO. His articles have also been extensively published in The Financial Times column, a publication of the Times of India Group. He has also edited more than two dozen books published by Icfai Books. His areas of interest include business environment, international finance, financial markets, corporate strategy and general management.
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