MODERN DOCTRINES OF SOCIO-ECONOMIC DEVELOPMENT OF ENTERPRISES IN THE CONDITIONS OF THE KNOWLEDGE ECONOMY

Keywords: knowledge economy, socio-economic development, economic development, knowledge, creative class

Abstract

The purpose of the article is the analysis of the modern perception of knowledge as a key factor in growth and the selection of modern doctrines of socio-economic development of enterprises in the conditions of the knowledge economy. The research is relevant because it identifies significant changes in economic paradigms and emphasizes the need to rethink the ways of development, relying on the growing role of knowledge, innovation and intellectual capital as key elements of production and competitiveness and points to the importance of adapting companies to new production practices. The study indicates the urgency of revising the economic strategy and emphasizes the importance of innovation and human capital development as key factors of economic success. As a result of the study, it was determined that economic growth in the conditions of the knowledge economy requires not only the availability of knowledge, but also its effective mobilization and use to create additional value. Changes in the role of human capital and the increasing importance of the creative class indicate a transformation that requires a review of approaches to socio-economic development. Such a transition determines the need for a strategic approach to education, innovation and infrastructure for the successful implementation of new economic paradigms. Modern doctrines of socio-economic development of enterprises in the conditions of the knowledge economy are highlighted: innovation doctrine, development in accordance with the knowledge-based economy, socio-ecological doctrine, digital transformation, flexible strategy and economy of social interaction. The results of the study indicate that the development of the knowledge economy requires enterprises to develop successful strategies aimed at the sustainable use and creation of knowledge, with a special emphasis on innovation, education and flexibility. The practical significance of the obtained research results lies in the definition of modern doctrines of successful development of enterprises in the conditions of the knowledge economy, which can become the basis of their development strategies.

References

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Avkopashvili, P.T., Polukhin, A.A., Shkodinsky, S.V., Poltarykhin, A.L. The Fundamental Provisions of the Concept of Knowledge Economy. In: Popkova, E., Ragulina, Y., Bogoviz, A. (eds) Industry 4.0: Industrial Revolution of the 21st Century. Studies in Systems, Decision and Control. 2019. vol 169. Springer, Cham. URL: https://link.springer.com/chapter/10.1007/978-3-319-94310-7_5#citeas (Available at: 2.01.2024)

CC Innovation and Knowledge Economy. URL: https://www.isi.fraunhofer.de/en/competence-center/innovations-wissensoekonomie.html (Available at: 2.01.2024)

Chater N, Zeitoun H, Melkonyan T. The paradox of social interaction: Shared intentionality, we-reasoning, and virtual bargaining. Psychol Rev. 2022. Apr. 129(3). р. 415-437. URL: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9208663/ (Available at: 2.01.2024)

Chen D.H. C., Dahlman C. J. The Knowledge Economy, The KAM Methodology And World Bank Operations. 2006. 42 pages. Stock No. 37256. URL:https://documents1.worldbank.org/curated/en/695211468153873436/pdf/358670WBI0The11dge1Economy01PUBLIC1.pdf (Available at: 2.01.2024)

Knowledge-based economy. URL: https://archive.unescwa.org/knowledge-based-economy (Available at: 2.01.2024)

Mohamed M.M.A., Liu, P.; Nie, G. Do Knowledge Economy Indicators Affect Economic Growth? Evidence from Developing Countries. Sustainability. 2022, 14, 4774. URL: https://doi.org/10.3390/su14084774 (Available at: 2.01.2024)

Paličková, I. Influence of the knowledge economy on the economic growth and economic level of the countries. World 2014, 2, 26. URL: https://www.researchgate.net/publication/330695344_INFLUENCE_OF_THE_KNOWLEDGE_ECONOMY_ON_THE_ECONOMIC_GROWTH_AND_ECONOMIC_LEVEL_OF_THE_COUNTRIES (Available at: 2.01.2024)

Tchamyou, V.S. The role of knowledge economy in African business. J. Knowl. Econ. 2017. 8. р. 1189-1228. URL: https://link.springer.com/article/10.1007/s13132-016-0417-1 (Available at: 2.01.2024)

The knowledge economy and innovation. EBRD. URL: https://www.ebrd.com/what-we-do/sectors-and-topics/ebrd-knowledge-economy-innovation.html (Available at: 2.01.2024)

Tye M. The Flexible Economy. Medium. 2023. URL: https://medium.com/@martinrev21/the-flexible-economy-1ae4b6f08a07 (Available at: 2.01.2024)

Wang X., Xu Z., Qin Y., Skare M. Innovation, the knowledge economy, and green growth: Is knowledge-intensive growth really environmentally friendly? Energy Economics. 2022. Volume 115. URL: https://www.sciencedirect.com/science/article/abs/pii/S0140988322004601 (Available at: 2.01.2024)

World Bank. Building Knowledge Economies. Advanced Strategies for Development; World Bank Institute Development Studies: Washington, DC, USA, 2007. URL: https://documents.worldbank.org/pt/publication/documents-reports/documentdetail/918571468183891451/building-knowledge-economies-advanced-strategies-for-development (Available at: 2.01.2024)

Zakhozhyi V. Digital Analyst, Ma Y. J. Three ways digital transformation accelerates sustainable and inclusive development. UNDP. 2023. URL: https://www.undp.org/blog/three-ways-digital-transformation-accelerates-sustainable-and-inclusive-development (Available at: 2.01.2024)

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Published
2023-12-26
How to Cite
Mashkina, A. (2023). MODERN DOCTRINES OF SOCIO-ECONOMIC DEVELOPMENT OF ENTERPRISES IN THE CONDITIONS OF THE KNOWLEDGE ECONOMY. Economy and Society, (58). https://doi.org/10.32782/2524-0072/2023-58-72
Section
ECONOMICS