Topics: Knowledge management, Knowledge, Knowledge economy Pages: 15 (3643 words) Published: January 9, 2005






Knowledge Identification

Knowledge Acquisition

Knowledge sharing

Knowledge development

Knowledge application

Knowledge Creation

Knowledge preservation

Knowledge measurement


Sharing best practices

Unifying specialized knowledge

Preserving valuable knowledge assets

Nurturing the culture of innovation and creativity

Anticipate changes in the marketplace


Innovation and creativity will be the essence for k-economy to be realized in order for organization to stay competitive. The mind-set of workers in an organization as well as the nation as a whole must be changed. This will be the biggest challenge for organizations to manage since innovation and creativity will demand for knowledge-driven employees or knowledge-workers.

Organization knowledge capital (tacit and explicit) must be managed. Knowledge management is not about building a computerized systems of human capital but it is about the planning and implementation of activities designed to continuously identify, acquire, apply, share, develop, create, preserve and audit(measure) organization knowledge assets. Knowledge management is about sharing best practices, upgrading employees competencies and organization productivity.

The information age, facilitated by the development of information communication technology, leads to an emergence of a new type of economy called knowledge economy. As the world becomes borderless, Malaysia will have to face an insurmountable global competitiveness. The challenge of competitiveness and productivity that Malaysia has to face is substantially higher. Therefore a quantum leap in total factor productivity is needed and every factor of production must be made to work smarter. Thus, to be able to work smarter for sustainability, Malaysia has to move to knowledge economy as soon as possible.

Prime Minister , Dr. Mahathir Mohamed, in Vision 2020 states:

By the year 2020, Malaysia can be a united nation, with a confident Malaysian society, infused by strong moral and ethical values, living in a society that is democratic, liberal and tolerant, caring, economically just and equitable, progressive and prosperous, and in full possession of an economy that is competitive, dynamic, robust and resilient.

In the early days of independence, Malaysia economy relied heavily and extensively on the export of two commodities that are rubber and tin. During this period, the economic is based on agriculture production. The main activity is farming and Malaysia became one of the biggest producers of rubber. As more productivity is sought, the economics turn to industrial based as the manufacturing sectors started to grow. Although agriculture remains as an important economic sector, manufacturing sectors also emerges as the most important sector to the country.

The transformation from agricultural to manufacturing sectors took place during the years of 1970 to 1980. This period also witnessed a significant change in Malaysia economy in term of its greater integration into the world economy. Malaysia adopted more liberal trade policies as to lure trade and foreign investors to the country. It is believed that open economy policy will encourage higher productivity and returns. However, according to Prime Minister, Dato Seri Dr Mahathir Mohamad, manufacturing sector contribution to Gross Domestic Product will peak by year 2005. By then, when the economy become global, and as the competition for new market become stiffer, more innovation and creation are needed. As such, there is a need to have a networking or connectivity of people in the global economy to share expertise and knowledge to the creation of new product. Thus, the new factor...

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