A framework to assess a knowledge-based economy: Special focus to higher educational institutions

Emad Summad*, Mahmood Al-Kindi, Ahm Shamsuzzoha, Sujan Piya, Mohammad K. Ibrahim

*Corresponding author for this work

Research output: Contribution to journalConference articlepeer-review

Abstract

The term 'Knowledge-Based Economy (KBE)' is considered as an important strategy for the development of a country. It plays a crucial role to develop economic processes. It is therefore, critical to assess the KBE based on predefined Key Performance Indicators (KPI). The aim of this research is to give an overview of the KPIs, which are accumulated based on extensive literature survey and can be usable to assess the Knowledge-Based Economies. This assessment process was specially focused to measure the influence of higher education institutions on corresponding process of transition towards a knowledge-based economy. The research also explores a number of currently available KPI frameworks that are introduced by international organizations (e.g. World Bank Institute, Organization for Economic Co-operation and Development, Asia-Pacific Economic Cooperation, Australian Bureau of Statistics and European Commission) to assess KBE. Based on the shortcomings of available frameworks, this research proposes a hybrid framework that can be used to assess KBE. This proposed framework is more comprehensive in addressing the role of the higher education institutions such as colleges and universities in the development of knowledge based economy.

Original languageEnglish
Pages (from-to)2899-2907
Number of pages9
JournalProceedings of the International Conference on Industrial Engineering and Operations Management
Volume2018
Issue numberJUL
Publication statusPublished - Jan 1 2018
Event2nd European International Conference on Industrial Engineering and Operations Management.IEOM 2018 -
Duration: Jul 26 2018Jul 27 2018

Keywords

  • Higher education
  • Innovation
  • Key performance indicator
  • Knowledge based economy

ASJC Scopus subject areas

  • Strategy and Management
  • Management Science and Operations Research
  • Control and Systems Engineering
  • Industrial and Manufacturing Engineering

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