Human Resources Management in the Knowledge Management

Knowledge is increasingly claimed to be a key critical resource and source of competitive advantage in the modern global economy, especially with the rise of the service economy, the growth in the number of ‘knowledge workers’, the increasingly rapid flow of global information, and the growing recognition of the importance of intellectual capital and intellectual property rights. Knowledge, with its intangible aspects, is becoming a defining characteristic of economic activities, as opposed to tangibles such as goods, services or production processes. The rise of the knowledge economy has seen a proliferation of information and communication technologies, coupled with greater organizational complexity, the growth of virtual and global organizations and rapid change. This in turn requires drastic change within HRM to respond to changing demands of the knowledge economy.