Applying Knowledge Management Strategies for Economic Development and Sustainability in the Caribbean

Edwin M Cortez, Ivonne S Ramirez

Abstract


Sustainability looks to achieve best outcomes for human and natural environments both now and in the indefinite future. It relates to the continuity of economic, social, institutional and environmental as- pects of human society, as well as the non-human environment. This paper examines economic devel- opment as one aspect of sustainability with a focus on knowledge management as an economic devel- opment strategy. The predicate of the paper is that productive capability is no longer completely de- pendent on capital and equipment; information and knowledge assets are increasingly important. In this information economy, success comes from harnessing the information and knowledge of a com- munity especially as it relates to “indigenous knowledge”—that local, often tacit knowledge, which exists in every community, every region and every country. This knowledge is useful in identifying new entrepreneurial opportunities as well as for sustaining and advancing local businesses. The region examined in the paper is the underdeveloped Caribbean Islands. 


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