Priorities for developing the competitiveness of economic entities in the knowledge-based economy

Приоритеты развития конкурентоспособности хозяйствующих субъектов в условиях экономики знаний

Vyshegorodskiy, Daniil (Вышегородский, Даниил) ()
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Vyshegorodskiy, Daniil (Вышегородский, Даниил): Russian Presidential Academy of National Economy and Public Administration, Ural Institute of Management

Voprosy upravleniya / Management Issues, 2019, 126-136

Abstract: The article is devoted to topical issues of economic entities competitiveness in hard conditions of the knowledge-based economy. Attention is focused on the fact that economic development studies highlight the modern stage in which knowledge becomes one of the main factors of production, and the stage itself is called the “digital”, “creative” or “intangible” economy. Features of this stage of economic development to support a high level of economic entity competitiveness: 1) knowledge is a key asset, 2) use of information technologies, 3) development of creative abilities of employees, 4) strategic interaction with other economic entities to rapid creation of new knowledge. The author suggests the following priorities for developing the competitiveness of economic entities in the knowledge economy: productivity, innovation, adaptability, reputation and globality. Business entities are recommended to form knowledge management systems that will allow them to successfully develop their competitiveness in these priority areas. The knowledge management system, in the author's opinion, shall affect the priority directions for the development of the economic entity competitiveness as follows: performance – by improving communications between employees, preventing the loss of corporate knowledge, continuity of personnel training process thus reducing rework and scrap; and innovation – implementation of full lifecycle of knowledge from the idea to its realization in innovative product; adaptability - by reducing the duration of the innovation cycle as a result of the use of knowledge management methods; reputation - by increasing brand awareness; globality - as a result of the ability to exchange knowledge with foreign partners and joint conduct of knowledge-intensive projects.

Keywords: knowledge-based economy; competitiveness; digital economy; knowledge-based management (search for similar items in EconPapers)
Date: 2019
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