Journal of Emerging Trends in Engineering and Applied Sciences: Research Areas

Abstract:
Economic history has witnessed transformation from agriculture based to manufacturing based economics over the time. This transformation had its effects on social structure of the communities. A similar transformation is now taking place as; business has grown global over the recent years, making the present business atmosphere further competitive, fast and fluid. This new and prominent development is as a result of increase in Information and Communication Technologies (ICTs). The world economies are opening up to new world horizons. ICTs (particularly intranets/internet) have produced new channels and means of acquiring knowledge and opened new doors of promising opportunities like e-businesses particularly in developing countries. That is, long-run sustained use of ICT in organizations is likely to lead to higher profits and increased market share, but only if it is combined with organizational change and upgrading of skills of employees. This paper highlights knowledge management, issues, strategies and stresses the importance of ICTs in the development of Knowledge Economy (KE) in the developing countries such as Nigeria.

Keywords: knowledge, economy, ICT, Nigeria, transformation issues, strategies

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