AmCham Kuwait hosted an Introduction to the Knowledge Economy and Asset Management in collaboration with the Knowledge Associates International Group.
The webinar was conducted by Ron Young, Founder of Knowledge Associates International Group. In a knowledge economy, knowledge is the primary driver of growth and development, rather than physical resources and labor, as Young described it.
The speaker highlighted the importance of the knowledge economy in transforming how entities operate and how economies grow. The benefits of a knowledge-based economy include increased productivity, higher living standards, better job opportunities, and sustainable economic growth.
International organizations such as the World Trade Organization, European Commission, and World Bank have played a significant role in developing frameworks for the knowledge economy. Some of these frameworks include The World Bank’s four pillars of Knowledge Assessment Methodology, as well as the UNDP’s MBRF Global Knowledge Index (amongst others).
Young also spoke about how different countries were ranked based on the Knowledge Economy, as he spoke about the British Standards Institution (BSI) / Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) / and the Knowledge Associates Partnership that has been in place since 2017. MBRF, Dubai government’s knowledge management foundation jointly conducts webinars to bring awareness of Knowledge and Asset management to the public. He highlighted that MBRF, BSI, and Knowledge Associates were working together to help organizations with their understanding and implementation of the BSI’s ISO International Standards for better collaboration, knowledge, and innovation management. This will enable organizations, private and public, large and small, to better achieve their objectives and, especially, towards achieving the UN Sustainable Development Goals and UN 2030 Vision.
Next, Young explained the Integrated ISO Standards and gave an in-depth understanding of how to align entities to the ISO 30401:2018 Knowledge Management Standard, as he also provided an in-depth explanation of 2022’s KAI Five Dimensions Framework. Toward the end, the speaker gave a quick overview of what the Dubai & UK governments were doing with knowledge and knowledge asset management, as he spoke about their successes including the MBRF / ISO KM story, and the Dubai Police Knowledge Assets Award.
Ron Young closed the discussion by stating that those organizations that manage their knowledge assets wisely, will lead the 21st century.