Knowledge – the basis of operations within every organization in the context of good practice
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Wyższa Szkoła Gospodarki Euroregionalnej im. Alcide De Gasperi w Józefowie
Publication date: 2016-12-31
JoMS 2016;31(4):189–206
Factors for socio-economic development are knowledge, financial capital, material and human resources. Knowledge is the primary source of competitive advantage. Its proper use supports growth of an organization as well as continuous technical and technological development. In addition, it accelerates economic, social, and cultural development. Information as well as experience are crucial knowledge elements. Information about resources, technology and market becomes a valuable commodity. Acquisition and possession of information increases the scale and scope of activities of the organization in a competitive market. In the modern world the dominant role of information affects the respective functions of enterprises. Successful achievement of the organization’s objectives (with the smallest possible outlay) requires high skills and coordination of all actions undertaken due to dynamic changes in the external and internal environment of all companies. The greatest value in the information system are employees. Their consciousness, experience and loyalty are essential to the functioning of the organization in a competitive knowledge market.