The Evolving Knowledge Cities

Introduction

We are living in knowledge societies and economies. The workforce is increasingly becoming knowledgeable hence, the availability of knowledge workforce for learning organizations. Knowledge is power and a source of power as an individual, an organization or even as a nation. For the last few years and decades the issue of managing knowledge (creation, dissemination and preservation of knowledge) has become an important subject both in the academy and industry. Organizations having better knowledge management system in place are likely to be more competitive and productive than their rivals both in short and long terms as well as nations with better education programs are found to be more innovative and competitive than nations with low education. In order to catch up with knowledge and innovation based societies and economies in the world some nation states have initiated their own national level wide ranging programs in collaboration with local industries and universities. Such initiatives are widely acknowledged as academic and knowledge cities. The contribution of academic institutions to regional and local economies is not a new phenomenon. For example, for centuries, universities have had a deep and dynamic relationship with the economic, social and cultural life of the cities in which they are based. However, the relationship among the key pillars in national building including university, government, community and city has never been direct and strong as they were supposed to be. In the changing world universities alone should not be left to be the source of the creation of knowledge, skills and innovation. Rather it is imperative for nation states to follow an integrative approach which brings the key players and pillars such as universities, government institutions, community and industry together in building competitive and sustainable societies for their respective citizens. The creation of knowledge and academic cities is a right move in achieving this long-lasting goal of nation building. Definitely such strategic initiatives deserve continuous support and guidance from the national leadership. In this chapter, the readers are introduced to several interesting issues with regard to the subject of evolving knowledge cities:

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  What a knowledge city is?

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  What are the key objectives behind knowledge cities?

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  How do they operate or function?

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  What are the potential benefits of knowledge cities?

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  What are the potential challenges facing them?

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  What do they need to operate successfully?

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  What are the potential impacts of knowledge cities on institutions of higher education including business schools?

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  The basic ingredients of knowledge cities.

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  The pitfalls of knowledge cities.

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  What is the future of knowledge cities?