Abstract

The growing importance of knowledge as a production factor in the early XX century led to the development of knowledge-intensive economy. Further research yielded the concepts of knowledge capital and knowledge potential. The current shift to knowledge-intensive economy also affects traditional industries, where knowledge is becoming a key competitive factor. The present research relied on the theory of strategy and the methodology of strategizing developed by Professor V.L. Kvint. The paper describes the main stages and elements of strategizing the knowledge potential. The author reviewed the concepts of human capital, knowledge capital, and knowledge potential defined by J. Schumpeter, F. Hayek, E. Phelps, O. Williamson, J.K. Galbraith, S. Kuznets, T. Schultz, G. Becker, T. Stewart, and V.L. Makarov to trace the existing approaches to the economic role of knowledge as a key economic resource. A number of case studies made it possible to visualize the concepts of knowledge potential, knowledge capital, and knowledge strategizing. The resulting stages of knowledge potential strategy covered the main trends, strategic interests, and opportunities. The strategizing of knowledge potential demonstrated a number of peculiarities, e.g., the explicit social nature of strategic interests. An efficient strategy for knowledge potential development should reflect the interests of all stakeholders because some of these interests may cancel each other.

Keywords

knowledge potential, human capital, strategizing, public value, knowledge economy

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