Knowledge-Based Management – A Premise of Psychological, Social and Cultural Development

Abstract

The dominant feature of the century in which we live is the change, manifested constantly and everywhere, with major implications for the evolution of mankind. Transformations and mutations in the economic and social environment, produced with incredible speed, clearly affect the 21st century organization and, implicitly, its management. The ability of organizations to adapt to the requirements of the economy of the future also depends largely on scientific creation. According to many specialists, knowledge-based management is a non-operational concept at the beginning of the century, whose wealth and power "will flow from the intangible resources, from the knowledge capital," (Armstrong,  2016b: 185-192).