The influence of the knowledge-based economy on the competitiveness of european economies and businesses

Abstract

Certain globalization trends exist that countries must adapt to if they want to survive and stay competitive. One of the trends is the transformation process of a traditional economy towards the activities and sectors based on knowledge. The competitiveness of European economies is improved by the implementation of various economic measures. Market globalization and information and communication technologies significantly influence the creation of many possibilities, but also challenges and risks. Information and communication technologies and knowledge have become important factors in economic changes. They also have become a part of the social and economic structures and development in every country. Economic activities have risen in sectors that intensively use knowledge and technology, thus increasing productivity and employment.