Impact of knowledge management on sustainable development in the innovative economyBusiness Systems Laboratory - 2nd International Symposium “SYSTEMS THINKING FOR A SUSTAINABLE ECONOMY. Advancements in Economic and Managerial Theory and Practice, Universitas Mercatorum (2014)
The purpose of this paper is to research the meaning of the sustainable development in the innovation economy. Knowledge processes in an innovative economy seem to open up new and varied avenues to be explored in the direction of sustainability. Innovative economic theory in contrast to neoclassical is not derived from the hypothesis that the accumulation of capital is the main driver of economic growth in the knowledge-based economy in the 21st century. This new business logic assumes that the rate of economic growth in the innovation economy depends on the products or services that are incurred as a result of knowledge. The emergence of the internet in the early 90s affected the growth of dot.com online businesses and the emergence of the third wave of capitalism. In the current economic crisis and recession, the consequences of low economic growth will further affect the changes in the global markets. This is reflected in the different behaviors of consumers and resulting in the development of new business models, which includes sustainable development in the innovation economy. The paper examines critical factors that influence the role of new innovative technologies in organizational change to ensure sustainability. Focus on sustainability directs company behavior towards the environmental protection, which presumes the fulfillment of organizational and human needs. Therefore, current demands can be satisfied in the present, but the resources for their fulfillment will be preserved for future generations. In order to realize this goal, the company must invest in assets that provide sustainable development. Thus, it is necessary to be aware of how the final products or processes impact the environment. Assuming that the company complies with sustainable components can be expected to create value added for this item. This added value is not only better society reputation that affects the consumers and, is important for investors but also fulfills the legal obligation.
The conceptual paper contributes to the ongoing discussion about the increasingly important role of sustainable development as a major concern for the European Union, companies and NGOs that have to develop the policies that will enable sustainable growth of the society.
- Knowledge management,
- Innovative economy,
- Sustainable development,
- Organizational changes,
- Value added
Publication DateWinter January 24, 2014
Citation InformationVasja Roblek, Maja Meško, Mirjana Pejić Bach and Andrej Bertoncelj. "Impact of knowledge management on sustainable development in the innovative economy" Business Systems Laboratory - 2nd International Symposium “SYSTEMS THINKING FOR A SUSTAINABLE ECONOMY. Advancements in Economic and Managerial Theory and Practice, Universitas Mercatorum (2014)
Available at: http://works.bepress.com/vroblek/18/