Knowledge cities: the answer to the needs of knowledge‐based development

Abstract

Purpose

In the new era of knowledge economy, knowledge and the processes to generate it and manage it are considered to be the most valuable assets of an organisation in the competitive business environment. Over the last years, intensive discussions have taken place about the importance of knowledge management for the whole of society, except for the business world. Today, there is a consensus among researcher and practitioner communities that the challenges facing modern societies call for development strategies that are knowledge‐based. Such strategies could enable humankind to pursue the vision of a global society in which all the basic human needs can be satisfied, while maintaining a healthy and physically attractive environment. However, general agreement has not yet been reached on which type of knowledge‐based development (KBD) strategy is the most advantageous and should be followed. This paper attempts, on the one side, through the study of current literature, to demonstrate the needs that should be fulfilled by KBD strategies and, on the other side, to justify why the relatively new concept of knowledge cities is the one that fully corresponds to these needs.

Design/methodology/approach

The authors attempt to review and analyse in a coherent way the current trends regarding KBD policies as well as to examine the needs to be addressed by successful KBD strategies, based on a wide range of published works, including papers, books, reports and web sites.

Findings

The main finding is that there are many issues that contemporary KBD policies should address and that the new concept of knowledge cities fully corresponds to these needs.

Research limitations/implications

Recommended directions for further action research are presented.

Originality/value

The distinguishing feature of this study is that it shows that the concept of a knowledge city is the most appropriate and advantageous model for a KBD strategy, fully complying with and satisfying their needs.

Citation

Ergazakis, K., Metaxiotis, K. and Psarras, J. (2006), "Knowledge cities: the answer to the needs of knowledge‐based development", VINE, Vol. 36 No. 1, pp. 67-84. https://doi.org/10.1108/03055720610667381