The Transition Of Knowlede-Based Economy

Q: What are the characteristics of knowledge parsimony? Discuss the ch each(prenominal)enges faced by Malaysia in building a knowledge scrimping. 1.0 Introduction In this 21th century, discipline age lies upon us, in which of the advancement of information novelty was brought in a way of moving towards a widen economy. In line with this context, the terminus of K-economy must be clarified. As such, the term of knowledge-based economy is resulted from the recognition of immensity of knowledge and engineering science inwardly the emerging economy. Also, knowledge is embodied in homophile be as human capital and technology that pertain to the stinting nurture (OECD 1996; Ahmed n.d.). Over the years, many countries have completed that its importance is growing, so to Malaysia. Currently, Malaysia is experiencing in revolutionary structural change over from universe agriculture-based to production-based economy and currently towards knowledge-based economy (K-econo my). The knowledge economy bestow provides us a platform to affirm the fast economy harvest-feast as well as to achieve beleaguer internationally in order to realize Vision 2020.

As to attain Vision 2020, our government has established the Multimedia tops(predicate) Corridor (MSC) in 1996, in order to promote transformation towards K-economy by subjoin the integration of information communication technology (ICT) into all kinds of economic activities (Mustapha et al. 2008). In addition, our former Prime Minister of Malaysia, Dr. Mahathir Mohammed said, the give wayment of a knowledge-based economy is e xtremely important for the country to sustai! n rapid economic harvest-festival and enhance international competitiveness. Indeed, in that locating is a need to strengthen our capability to innovate and muddle indigenous technology as well as commence and market new products. By increasing the knowledge input, we lead be able to change from an input-driven strategy to a productivity-driven growth strategy (Mahathir 2001). Dr. Mahathirss speech at the Dewan Rakyat...If you want to let down a full essay, order it on our website: OrderCustomPaper.com

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