Chapter 1In the Know – The Knowledge Economy in the Twenty-first Century

A Brief History of Knowledge

First of all, what is knowledge? This might seem an extraordinary question, but it is vital to be certain what we are discussing. When managers invest their organization's funds to buy-in new knowledge, skills or technology, do they always fully recognize the element of knowledge creation – and the need to acquire that knowledge for their company? Collectively, do we recognize within organizations the value of knowledge?

The UK's Concise Oxford Dictionary is disappointing in its definition of knowledge: 'a theoretical or practical understanding of a subject, language etc., the sum of what is known ... certain understanding, as opposed to opinion'. ...

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