PLEASE TELL MY ABOUT KNOWLEDGE ECONOMY?
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India will become a leader in the global knowledge economy by 2010. This will be the result of a highly focussed effort to achieve global thought leadership in a few select fields that offer the highest potential for Knowledge Process Outsourcing (KPO)
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The World Bank Institute offers a formal definition of a knowledge economy as one that creates, disseminates, and uses knowledge to enhance its growth and development.
A knowledge economy uses data as it raw material and transforms it using technology, analysis tools, and human intelligence into knowledge and expertise.
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Knowledge economy: Refers to the use of knowledge to produce economic benefits. The phrase came to prominence in New Zealand in the mid-to late-1990s as a way of referring to the manner in which various high-technology businesses, especially computer software, telecommunications and virtual services, as well as educational and research institutions, can contribute to a country's economy. World Bank
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another important term which is related to this is Knowledge Management:
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Knowledge management: A concept in which an enterprise gathers, organizes, shares, and analyzes its knowledge in terms of resources, documents, and people skills. Knowledge management involves data mining and some method of operation to push information to users. World Bank
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