Globalisation

Managing KnowledgeBased Development

Abstract

Globalisation, in the context of economy, is a process that shortens or even eliminates obstacles in an international economic exchange and enhances the economic integration of countries. There are various aspects of globalisation, e.g. economic, social, educational, cultural, political, ecological, etc., which are manifested in all areas of a modern human life. This paper will examine the effect globalisation has on the role of management and its importance on developing human potential, as a key factor of the knowledge-based economy growth and accompanying competencies. Knowledge is the basic developing resource of the 21st century and is crucial for every economy, especially for the economy of transition countries such as Croatia. The knowledge economy and the role of management in development, knowledge, innovation, creativity, and career are key factors of economic development and are crucial for the application of its strategy in human potential development. The knowledge economy and management require new knowledge, skills, abilities, talents and an organisation where knowledge is a factor of development. The most important characteristic of the knowledge-based economy is its use of knowledge, both as input and output.