Knowledge-based society - a condition to ensure sustainable development

Abstract

A knowledge-based society generates profound transformations fostering social and economic development to the point where this factor becomes the key element in producing added value, but also the overall prosperity of both internal and national economies. In this regard, higher education institutions have key functions in the process of transmitting, producing and transferring knowledge within a knowledge-based economy, whilst companies need to base their innovations and performance programs on generating knowledge, thus ensuring sustainable development. The success in the new economy depends on a knowledge-based society which imposes a new inter-relational system, different from the current, built on openness, flexibility, permanent education and specialized entrepreneurial motivation.