Knowledge Based Strategies for Knowledge Based Organizations

In the present, we can observe that a new economy is arising. It is an economy based on knowledge and ideas, in which the key factor for prosperity and for creation of the new jobs is the knowledge capitalization. Knowledge capitalization, intellectual capital, obtaining prosperity in the market economy imposes a new terminology, new managerial methods and techniques, new technologies and also new strategies. In other words, knowledge based economy, as a new type of economy; impose a new type of management-knowledge based management and a new type of enterprise-knowledge based enterprise. Taking in consideration these predictable evolutions, this paper will try to present: The main ideas of the researches the field of the knowledge based economy The characteristics and principles of the knowledge based organizations and knowledge based management The challenges and opportunities for knowledge based organizations. The first part of the paper will present the principles of the new economy- knowledge base economy, the essential and interrelated elements necessary to build and to implement a strategy in a knowledge economy and the opportunities and challenges to the countries as they seek to build regionally and globally competitive knowledge-based economies. The second part of the paper will present the characteristics of the knowledge based organizations, the principles and characteristics of their management. For many organizations, knowledge management is a relatively new concept, because they are discovering the knowledge value in their operations. Many firms have undertaken formal and informal knowledge management initiatives designed to improve process performance, increase customer responsiveness and spur innovation. But while some organizations have reaped significant benefits from their investment in knowledge efforts, others have run into noteworthy challenges.