6 - knowledge economy and social / economic impacts Flashcards
what is knowledge economy
economy in which growth is dependent on quantity, quality and accessibility of info available rather than means of production
what is an OECD economy
increasingly based on knowledge and info - Organization for Economic Cooperation and Development
knowledge recognised as driver of productivity, economic growth and new focus on role of info tech and learning in economic performance
how can knowledge be distributed
- formal and informal networks and is essential to economic performance
- increasingly codified and communications networks in computer transmissions
what is employment like in knowledge economy
employment characterised by increasing demand for highly skilled workers
changes in technology (info tech) make educated and skilled labour more valuable and unskilled labour less so
what is quaternary industry
knowledge based = info tech, info generation, r&d and services like consultation, education, financial planning etc
what is a cluster
- Porter (1998, 199)
‘geographically proximate group of interconnected companies and associated institutions in a particular field, linked by commonalities and complementarities’
what is involved with health innovation and education clusters
- includes NHS, academia, industry, charities, think tanks, london ambulance service
what is purpose of health innovation and education clusters (3)
- enable high quality patient care, brings benefits of r&d direct to patients
- creates greater opportunities for continuity between under/postgraduate education
- better responsiveness of training to service delivery
what are AHSN’s purpose (Academic Health Science Networks)
replaced HIEC’s and are to align education, clinical research, information innovation, training and healthcare delivery
- benefits researchers in uni’s, industry and entrepreneurs
what is the goal of AHSN’s (Academic Health Science Networks)
- improve patient population outcomes
- translate research into practice
- deliver a step change in way NHS implements and adopts new tech = large scale sustainable change
what is a research cluster (3)
- brings together distinguished group of investigators with academic interest
- bolster high impact research
- businesses in quaternary sector link with uni’s
what is the cambridge cluster and what does it involve (4)
- ‘put brains of cambridge university at disposal of industry’
- cambridge science park in 1970
- europe’s largest technology cluster due to science park
- uni contributes to cluster growth by providing solutions to business problems
what is the importance of the creative and cultural industries
- largest creative sector of EU in the UK and largest GDP
- includes 13 sectors : advertising, architecture, the art and antiques market, crafts, design, designer fashion, film, interactive leisure software (ie. video games), music, the performing arts, publishing, software, and television and radio
benefits of creative industries (4)
- now worth £76.9b per year to UK economy
- growth of 10% in 2013 being 3x bigger than wider economy
- 1.7m jobs in 2013, 5.6% of jobs
- now worth record £84.1b to UK economy
digital/it companies as a cluster is…
- digital business = creation of new business deigns by blurring digital and physical worlds
- can be used to identify current state of business, determine future, and gauge change to become digital business
