Search results for: Sustainable Knowledge Economy.

Authors: Hamid Alalwany, Nabeel A. Koshak, Mohammad K. Ibrahim

Abstract:

Both knowledge economy and sustainable development are considered key dimensions in the policy action lines of many developed and developing countries. In this context, universities and other higher education institutes have a vital role in developing and sustaining wellbeing communities.

In this paper, the authors’ aim is to address the links between the concepts of innovation and entrepreneurial capacity and knowledge economy, and to utilize the approach of intellectual capital development in building a sustainable knowledge economy.

The paper will contribute to two discourses:

1. Developing a common understanding of the intersection aspects between the three concepts: Knowledge economy, Innovation and entrepreneurial system, and sustainable development.
2. Paving the road towards developing an integrated multidimensional framework for sustainable knowledge economy.

Keywords: Innovation and Entrepreneurial Capacity, Intellectual Capital Development, Sustainable Development, Sustainable Knowledge Economy.

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Authors: Ashiquer Rahman

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The paper focuses on the importance of the knowledge economy and society, emphasizing the significance of the triangle issues (Innovation, Sustainability, and Higher Education) for building a sustainable campus at the university level and preparing students to face the upcoming sustainability challenges in the competitive and sustainable world. Within a framework of the knowledge economy and society, the paper discusses the significance of sustainable campus, triangle issues and potential action plan for the university level. It makes mention of the emergence of a knowledge-based economy and society as well as the necessity of combining innovation, sustainability, and education to create a sustainable campus at the university level. The paper outlines nine significant issues or challenges related to a sustainable campus that have been emphasized, and cross-linked with each other. Optimistically, it will be a milestone in higher education, a pathway to meet the imminent sustainable challenges of the completive world and be able to manage the knowledge economy and societal system

Keywords: Triangle issues, sustainable campus, higher education, knowledge economy, knowledge society.

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Authors: Prasopchoke Mongsawad

Abstract:

The Philosophy of Sufficiency Economy, bestowed by His Majesty the King Bhumibol Adulyadej to the people of Thailand, highlights a balanced way of living. Three principles of moderation reasonableness, and immunity, along with the conditions for morality and knowledge, can be applied to any level of the society–from an individual to the nation. The Philosophy of Sufficiency Economy helps address the current development challenges, which are issues on institutions, environmental sustainability, human well-being, and the role of the government.

Keywords: Sufficiency Economy, Development Theory, Sustainable Development, Environmental Sustainability, Social Capital, Human Well-Being,

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Authors: Asish O. Mathew, Lewlyn L. R. Rodrigues

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The organizations in the knowledge economy era have recognized the importance of building knowledge assets for sustainable growth and development. In comparison to other industries, Information Technology (IT) enterprises, holds an edge in developing an effective Knowledge Management (KM) programmethanks to their in-house technological abilities. This paper tries to study the various knowledge based incentive programmes and its effect on Knowledge Sharing and Learning in the context of the Indian IT sector. A conceptual model is developed linking KM Incentives, Knowledge Sharing and Learning. A questionnaire study is conducted to collect primary data from the knowledge workers of the IT organizations located in India. The data was analysed using Structural Equation Modeling using Partial Least Square method. The results show a strong influence of knowledge management incentives on knowledge sharing and an indirect influence on learning.

Keywords: Knowledge Management, Knowledge Management Incentives, Knowledge Sharing, Learning.

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Authors: A. Bencsik, V. Lőre, I. Marosi

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Knowledge and these notions have become more and more important and we speak about a knowledge based society today. A lot of small and big companies have reacted upon these new challenges. But there is a deep abyss about knowledge conception and practice between the professional researchers and company - life. The question of this research was: How can small and mediumsized companies be equal to the demands of new economy? Questionnaires were used in this research and a special segment of the native knowledge based on economy was focused on. Researchers would have liked to know what the sources of success are and how they can be in connection with questions of knowledge acquisition, knowledge transfer, knowledge utilization in small and medium-sized companies. These companies know that they have to change their behaviour and thinking, but they are not on the suitable level that they can compete with bigger or multinational companies.

Keywords: Knowledge, management, small and medium-sized companies, study.

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Authors: Prabhakar Venugopal Gantasala

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Complex environments triggered by globalization have necessitated new paradigms of leadership – Complexity Leadership that encompass multiple roles that leaders need to take upon. Success of Higher Education institutions depends on how well leaders can provide adaptive, administrative and enabling leadership. Complexity Leadership seems all the more relevant for institutions that are knowledge-driven and thrive on Knowledge creation, Knowledge storage and retrieval, Knowledge Sharing and Knowledge applications. Discussed in this paper are the elements of Globalization and the opportunities and challenges that are brought forth by globalization. The Complexity leadership paradigm in a knowledge-based economy and the need for such a paradigm shift for higher education institutions is presented. Further, the paper also discusses the support the leader requires in a knowledge-driven economy through knowledge management initiatives.

Keywords: Globalization, Complexity Leadership, Knowledge Management.

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Authors: Burja C., Burja V.

Abstract:

For Romania, the fulfilment of the obligations undertaken as a member state of the European Union in accordance with the Treaty of Accession requires the effective implementation of sustainable development principles and practices, this being the only reasonable development option, which adequately draws in on the economic, social and environment resources. Achieving this objective is based on a profound analysis of the realities in the Romanian economy, which will reflect the existent situation and the action directions for the future. The paper presents an analysis of the Romanian economic performances compared to the EU economy, based on the sustainable value (SV) model. The analysis highlighted the considerable gap between Romania and the EU regarding the sustainable capitalization of resources, the provided information being useful to justify strategic development decisions at a micro and macro levels.

Keywords: Sustainable value, sustainable development, opportunity cost, economic performance.

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Authors: Francesca Affortunato, Edgardo Bucciarelli, Mariateresa Ciommi, Gianfranco Giulioni

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The paper represents a reflection on how to select proper indicators to assess the progress of regional contexts towards a knowledge-based society. Taking the first research methodologies elaborated at an international level (World Bank, OECD, etc.) as a reference point, this work intends to identify a set of indicators of the knowledge economy suitable to adequately understand in which manner and to which extent the territorial development dynamics are correlated with the knowledge-base of the considered local society. After a critical survey of the variables utilized within other approaches adopted by international or national organizations, this paper seeks to elaborate a framework of variables, named Regional Knowledge Economy Indicators (ReKEI), necessary to describe the knowledge-based relations of subnational socio-economic contexts. The realization of this framework has a double purpose: an analytical one consisting in highlighting the regional differences in the governance of knowledge based processes, and an operative one consisting in providing some reference parameters for contributing to increasing the effectiveness of those economic policies aiming at enlarging the knowledge bases of local societies.

Keywords: Knowledge economy, knowledge society, information society, regional innovation system, territorial competitiveness, local development.

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Authors: Mohammad Ali Molaei

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New Growth Theory helps us make sense of the ongoing shift from a resource-based economy to a knowledge-based economy. It underscores the point that the economic processes which create and diffuse new knowledge are critical to shaping the growth of nations, communities and individual firms. In all too many contributions to New (Endogenous) Growth Theory – though not in all – central reference is made to 'a stock of knowledge', a 'stock of ideas', etc., this variable featuring centre-stage in the analysis. Yet it is immediately apparent that this is far from being a crystal clear concept. The difficulty and uncertainty of being able to capture the value associated with knowledge is a real problem. The intent of this paper is introducing new thinking and theorizing about the knowledge and its measurability in new growth theory. Moreover the study aims to synthesize various strain of the literature with a practical bearing on knowledge concept. By contribution of institution framework which is found within NGT, we can indirectly measure the knowledge concept. Institutions matter because they shape the environment for production and employment of new knowledge

Keywords: Institution Framework, Knowledge, New GrowthTheory (NGT)

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Authors: A. Bencsik, - A. Sólyom

Abstract:

The role of knowledge is a determinative factor in the life of economy and society. To determine knowledge is not an easy task yet the real task is to determine the right knowledge. From this view knowledge is a sum of experience, ideas and cognitions which can help companies to remain in markets and to realize a maximum profit. At the same time changes of circumstances project in advance that contents and demands of the right knowledge are changing. In this paper we will analyse a special segment on the basis of an empirical survey. We investigated the behaviour and strategies of small and medium sized enterprises (SMEs) in the area of knowledge-handling. This survey was realized by questionnaires and wide range statistical methods were used during processing. As a result we will show how these companies are prepared to operate in a knowledge-based economy and in which areas they have prominent deficiencies.

Keywords: education, knowledge, knowledgemanagement, strategy, SME

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Authors: Sang Ho Lee, Tae Heon Moon, Youn Taik Leem, Kwang Woo Nam

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Knowledge and IT inputs to other industrial production have become more important as a key factor for the competitiveness of national and regional economies, such as knowledge economies in smart cities. Knowledge and IT industries lead the industrial innovation and technical (r)evolution through low cost, high efficiency in production, and by creating a new value chain and new production path chains, which is referred as knowledge and IT dynamics. This study aims to investigate the knowledge and IT dynamics in Korea, which are analyzed through the input-output model and structural path analysis. Twenty-eight industries were reclassified into seven categories; Agriculture and Mining, IT manufacture, Non-IT manufacture, Construction, IT-service, Knowledge service, Non-knowledge service to take close look at the knowledge and IT dynamics. Knowledge and IT dynamics were analyzed through the change of input output coefficient and multiplier indices in terms of technical innovation, as well as the changes of the structural paths of the knowledge and IT to other industries in terms of new production value creation from 1985 and 2010. The structural paths of knowledge and IT explain not only that IT foster the generation, circulation and use of knowledge through IT industries and IT-based service, but also that knowledge encourages IT use through creating, sharing and managing knowledge. As a result, this paper found the empirical investigation on the knowledge and IT dynamics of the Korean economy. Knowledge and IT has played an important role regarding the inter-industrial transactional input for production, as well as new industrial creation. The birth of the input-output production path has mostly originated from the knowledge and IT industries, while the death of the input-output production path took place in the traditional industries from 1985 and 2010. The Korean economy has been in transition to a knowledge economy in the Smart City.

Keywords: Knowledge and IT industries, input-output model, structural path analysis, dynamics of knowledge and IT, knowledge economy, knowledge city, smart city.

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Authors: M. W. Yip, H. H. Ng, S. Din, N. Abu Bakar

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This paper reviewed the relationships between the Knowledge Management (KM) activities and its perceived benefits in the knowledge based organisations. KM activities include: knowledge identification, knowledge acquisition, knowledge application, knowledge sharing, knowledge creation and knowledge preservation. And the perceived benefits of KM are fast customer responsiveness, operation excellence and high innovative intensity.  Based on the above review, a conceptual framework for KM implementation in retail business organisations has been proposed. Finally the paper forwarded some limitations of the framework and based on which, directions for future research had been suggested.

Keywords: Knowledge Management, Knowledge Management Activities, Retail Business, Knowledge Economy.

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Authors: JunSeok Hwang, Mohsen Gerami

Abstract:

Knowledge is the foundation for growth and development. Investment in knowledge improves new method for originate knowledge society and knowledge economy. Investment in knowledge embraces expenditure on education and R&D and software. Measuring of investment in knowledge is characteristically complicated. We examine the influence of investment in knowledge in multifactor productivity growth and numbers of patent. We analyze the annual growth of investment in knowledge and we estimate portion of each country intended for produce total investment in knowledge on the whole OECD. We determine the relative efficiency of average patent numbers with average investment in knowledge and we compare GDP growth rates and growth of knowledge investment. The main purpose in this paper is to study to evaluate different aspect, influence and output of investment in knowledge in OECD countries.

Keywords: Knowledge, GDP, Multifactor productivity, Investment, efficiency.

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Authors: Vujica Lazovic, Tamara Djurickovic

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Creation of information society, or in other words, a society based on knowledge, has wide consequences, both on individual and complete society, and in general – on a economy of one country. Development and implementation of ICT represents a stimulant for economic growth. On individual level, knowledge, skills and information gathered using ICT, are expanding individual possibilities of persons, enabling them to have access to timely sensitive information, such as market prices or investment conditions, possibilities to access Government-s or private development funds, etc. By doing so, productivity is increased both on individual and national level and therefore social wellbeing in general. In one word, creation of information society - a knowledge society is happening. This work will describe challenges and strategies that will follow the development as well as obstacles in creating information society – knowledge society in Montenegro.

Keywords: eDevelopment, eTransformation, informationsociety, knowledge economy

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Authors: Mehdi Shami Zanjani, Shohreh Mehrasa, Mandana Modiri

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In the current economy of increasing global competition, many organizations are attempting to use knowledge as one of the means to gain sustainable competitive advantage. Besides large organizations, the success of SMEs can be linked to how well they manage their knowledge. Despite the profusion of research about knowledge management within large organizations, fewer studies tried to analyze KM in SMEs. This research proposes a new framework showing the determinant role of organizational dimensions onto KM approaches. The paper and its propositions are based on a literature review and analysis. In this research, personalization versus codification, individualization versus institutionalization and IT-based versus non IT-based are highlighted as three distinct dimensions of knowledge management approaches. The study contributes to research by providing a more nuanced classification of KM approaches and provides guidance to managers about the types of KM approaches that should be adopted based on the size, geographical dispersion and task nature of SMEs. To the author-s knowledge, the paper is the first of its kind to examine if there are suitable configurations of KM approaches for SMEs with different dimensions. It gives valuable information, which hopefully will help SME sector to accomplish KM.

Keywords: Knowledge Management, Knowledge Management Approach, SME, Organizational Dimension.

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Authors: A. Bencsik, 1V. Lıre, 2, I. Marosi

Abstract:

Intensive changes of environment and strong market competition have raised management of information and knowledge to the strategic level of companies. In a knowledge based economy only those organizations are capable of living which have up-to-date, special knowledge and they are able to exploit and develop it. Companies have to know what knowledge they have by taking a survey of organizational knowledge and they have to fix actual and additional knowledge in organizational memory. The question is how to identify, acquire, fix and use knowledge effectively. The paper will show that over and above the tools of information technology supporting acquisition, storage and use of information and organizational learning as well as knowledge coming into being as a result of it, fixing and storage of knowledge in the memory of a company play an important role in the intelligence of organizations and competitiveness of a company.

Keywords: Individual memory, organizational memory, knowledge management, organizational intelligence.

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Authors: J. Burlakovs, Y. Jani, L. Grinberga, M. Kriipsalu, O. Anne, I. Grinfelde, W. Hogland

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The worldwide future sustainable economies are oriented towards the sea: the maritime economy is becoming one of the strongest driving forces in many regions as population growth is the highest in coastal areas. For hundreds of years sea resources were depleted unsustainably by fishing, mining, transportation, tourism, and waste. European Sustainable Development Strategy is identifying and developing actions to enable the EU to achieve a continuous, long-term improvement of the quality of life through the creation of sustainable communities. The aim of this paper is to provide insight in Baltic Sea Region case studies on implemented actions on tourism industry waste and beach wrack management in coastal areas, hazardous contaminants and plastic flow treatment from waste, wastewaters and stormwaters. These projects mentioned in study promote successful prevention of contaminant flows to the sea environments and provide perspectives for creation of valuable new products from residuals for future circular economy are the step forward to green innovation winning streak.

Keywords: Resilience, hazardous waste, phytoremediation, water management, circular economy.

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Authors: Zhanna Mingaleva, Irina Mirskikh

Abstract:

Innovational development of regions in Russia is generally faced with the essential influence from federal and local authorities. The organization of effective mechanism of innovation development (and self-development) is impossible without establishment of defined institutional conditions in the analyzed field. Creative utilization of scientific concepts and information should merge, giving rise to continuing innovation and advanced production. The paper presents an analysis of institutional conditions in the field of creation and development of innovation activity infrastructure and transferring of knowledge and skills between different economic agents in Russia. Knowledge is mainly privately owned, developed through R&D investments and incorporated into technology or a product. Innovation infrastructure is a strong concentration mechanism of advanced facilities, which are mainly located inside large agglomerations or city-regions in order to benefit from scale effects in both input markets (human capital, private financial capital) and output markets (higher education services, research services). The empirical results of the paper show that in the presence of more efficient innovation and knowledge transfer and transcoding system and of a more open attitude of economic agents towards innovation, the innovation and knowledge capacity of regional economy is much higher.

Keywords: knowledge economy, innovational development, transfer of knowledge, institutional preconditions, innovation andknowledge capacity.

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Authors: Mehdi Shami Zanjani, Roshanak Rouzbehani, Hosein Dabbagh

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Although current competitive challenges induced by today-s digital economy place their main emphasis on organizational knowledge, customer knowledge has been overlooked. On the other hand, the business community has finally begun to realize the important role customer knowledge can play in the organizational boundaries of the corporate arena. As a result, there is an emerging market for the tools and utilities whose objective is to provide the intelligence for knowledge sharing between the businesses and their customers. In this paper, we present a conceptual model of customer knowledge management by identifying and analyzing the existing tools in the market. The focus will be upon the emerging British dotcom industry whose customer based B2C behavior has been an influential part of the knowledge based intelligence tools in existence today.

Keywords: Customer knowledge, customer knowledge management, knowledge management, B2C E-commerce.

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Authors: Bolanle F. Oladejo, Victor T. Odumuyiwa, Amos A. David

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Knowledge is attributed to human whose problemsolving behavior is subjective and complex. In today-s knowledge economy, the need to manage knowledge produced by a community of actors cannot be overemphasized. This is due to the fact that actors possess some level of tacit knowledge which is generally difficult to articulate. Problem-solving requires searching and sharing of knowledge among a group of actors in a particular context. Knowledge expressed within the context of a problem resolution must be capitalized for future reuse. In this paper, an approach that permits dynamic capitalization of relevant and reliable actors- knowledge in solving decision problem following Economic Intelligence process is proposed. Knowledge annotation method and temporal attributes are used for handling the complexity in the communication among actors and in contextualizing expressed knowledge. A prototype is built to demonstrate the functionalities of a collaborative Knowledge Management system based on this approach. It is tested with sample cases and the result showed that dynamic capitalization leads to knowledge validation hence increasing reliability of captured knowledge for reuse. The system can be adapted to various domains.

Keywords: Actors' communication, knowledge annotation, recursive knowledge capitalization, visualization.

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Authors: Vakhtang Charaia

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The article focuses on the role of FDI in Georgia’s economic development for the last decade. To attract as much FDI as possible a proper investment climate should be on the place - institutional, policy and regulatory environment. Well developed investment climate is the chance and motivation for both, local economy and foreign companies, to generate maximum income, create new work places and improve the quality of life. FDI trend is one of the best indicators of country’s economic sustainability and its attractiveness. Especially for small and developing countries, the amount of FDI matters, therefore most of such countries are trying to compete with each other through improving their investment climate according to different world famous indexes. As a result of impressive reforms since 2003, Georgian economy was benefited with large invasion of FDI, however the level of per capita GDP is still law in comparison to Eastern European countries and it should be improved. The main idea of the paper is to show a real linkage between FDI and employment ration, on the case of Georgian economy.

Keywords: Foreign Direct Investment, Sustainable Development, Corruption, Employment/Unemployment.

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Authors: Qiu Dong-Fang, Li Bao-bao, Min Xing

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Low-carbon economy means the energy conservation and emission reduction. How to measure and evaluate the regional low-carbon economy is an important problem which should be solved immediately. This paper proposed the eco-efficiency ratio based on the ecological efficiency to evaluate the current situation of the low-carbon economy in Jiangsu province and to analyze the efficiency of the low-carbon economy in Jiangsu and other provinces, compared both advantages and disadvantages. And then this paper put forward some advices for the government to formulate the correct development policy of low-carbon economy, to improve the technology innovation capacity and the efficiency of resource allocation.

Keywords: Eco-efficiency ratio, Jiangsu, China, low-carbon economy.

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Authors: Raziya Ashimova

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This article is devoted to the problems of the disproportional development of regions in the Republic Kazakhstan. The threats proceeding from problem regions, make strong impact on the country-s sustainable development, therefore they are necessary to be considered at the level of national security.

Keywords: Economic development, Kazakhstan, National security regional economy.

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Authors: John Walton, Vishal Parikh

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Contact centres have been exemplars of scientific management in the discipline of operations management for more than a decade now. With the movement of industries from a resource based economy to knowledge based economy businesses have started to realize the customer eccentricity being the key to sustainability amidst high velocity of the market. However, as technologies have converged and advanced, so have the contact centres. Contact Centres have redirected the supply chains and the concept of retailing is highly diminished due to over exaggeration of cost reduction strategies. In conditions of high environmental velocity together with services featuring considerable information intensity contact centres will require up to date and enlightened agents to satisfy the demands placed upon them by those requesting their services. In this paper we examine salient factors such as Power Distance, Knowledge structures and the dynamics of job specialisation and enlargement to suggest critical success factors in the domain of contact centres.

Keywords: Post Taylorism, Knowledge Management, Power Distance, Organisational Learning

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Authors: R. Tirado, G. Habert, A. Mailhac, S. Laurenceau

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The rapid development of cities implies significant material inflows and outflows. The construction sector is one of the main consumers of raw materials and producers of waste. The waste from the building sector, for its quantity and potential for recovery, constitutes significant deposits requiring major efforts, by combining different actors, to achieve the circular economy's objectives. It is necessary to understand and know the current construction actors' knowledge of stocks, urban metabolism, deposits, and recovery practices in this context. This article aims to explore the role of local governments in planning strategies by facilitating a circular economy. In particular, the principal opportunities and challenges of communities for applying the principles of the circular economy in the building sector will be identified. The approach used for the study was to conduct semi-structured interviews with those responsible for circular economy projects within local administrations of some communities in France. The results show territories' involvement in the inclusion and application of the principles of the circular economy in the building sector. The main challenges encountered are numerous, hence the importance of having identified and described them so that the different actors can work to meet them.

Keywords: Building stock, circular economy, interview, local authorities.

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Authors: Zaiton Samdin, Kasimu Abdu Bakori, Hamimah Hassan

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This paper attempts to investigate the factors that influence hotel managers- attitudes towards sustainable tourism practices (STP) in Kuala Lumpur and the state of Selangor in Malaysia. The study distributes 104 questionnaires to hotels ranging from one star to five-star categories including budget hotels. Out of this figure, 60 copies of the questionnaires were returned and analyzed. The finding revealed that of all the seven factors investigated, only the variables measuring incentives and knowledge have significantly influenced sustainable tourism practices in the country. Therefore, government and other green bodies within the country should continue to provide hotels with incentives for sound technologies. Moreover, the government agencies should continue to educate hoteliers on the relevance of environmental protection for the successful implementation of sustainable tourism practices.

Keywords: Attitude, incentive, knowledge, sustainable tourism practices

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Authors: Charles P. Mukumba, Kahilu K. Shakantu

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Achieving the Sustainable Development Goals (SDGs) is critical to achieving transformational results that support Zambia's developmental agenda. Public procurement is integral to the government's mission to deliver goods and services in a timely and economical manner beyond the value of money spent. This study explores the link between sustainable public procurement and the SDGs in Zambia. To validate the established links with public sector procurement in Zambia, the study employed qualitative research using semi-structured interviews with 12 public procurement officials. The collected data were analysed using thematic analysis. The findings indicate that public procurement plays a fundamental role in achieving the SDGs by helping deliver core public services that support SDGs and systematizing and co-delivering added value along the way. The study further established the importance of sustainable public procurement within the development context. The interviews were limited to mainstream public sector procurement entities in Lusaka, Zambia. Sustainable public procurement actions have the potential to impact SDGs. Promoting sustainable public procurement will enhance sustainable development and significantly improve the supply chain, benefiting the economy, society and environment. Findings will inform policy-makers how to strategically design sustainable public procurement policy by attuning it to procuring entities' objectives and priorities to contribute to attaining SDGs.

Keywords: Sustainable public procurement, sustainable development goals, SDG targets, Zambia.

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Authors: Kwok Tak Kit

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This research focuses mainly on the transformation of circular economy and specifically on the building and construction industry in Hong Kong. This research is going to investigate the current status of development and transformation of linear economy of Hong Kong into circular economy. The research is based on literature review and different published reports to outline the possibilities for further development and transformation of circular economy in Hong Kong. Different key factors affecting the transformation particularly in building and construction industry are discussed.

Keywords: Circular economy, LEED net zero, carbon emission, waste reduction, waste management.

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Authors: Kitimaporn Choochote, Roger Nurse

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The area of knowledge management has been in the highlight for enterprises over the past three decades. Many enterprises would like to have knowledge management and work hard to achieve it, however they are often confused about which direction to take to be successful and this point is especially true for Small and Medium Enterprises (SMEs) in developing countries. Many large companies have realized that knowledge is one of the richest resources which an organization possesses and knowledge management is a part of the foundation for a sustainable competitive advantage. Much work has been done in the area of knowledge management, but most of it has served large enterprises. This research provides a Model of knowledge management strategy for SMEs. It is based on analysis, insights and recommendations and it is presented so that SMEs in developing countries can easily understand and implement this model.

Keywords: Competitive advantage, Developing Country, Knowledge Management Strategy, Small and Medium Enterprise

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Authors: A. Bahar Ganiyeva, M. Sabuhi Tanriverdiyev

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The article analyzes state support and policy mechanisms aimed at driving tourism as one of the vibrant and rapidly developing economies. State programs and long-range strategic roadmaps and previous programs execution, results and their impact on the particular countries economy have been raised during the research. This theme provides a useful framework for discussions with a wider range of stakeholders as the implications arising are of importance both for academics and practitioners engaged in hospitality and tourism development and research. The impact that tourism has on sustainable regional development in emerging markets is highly substantial. For Azerbaijan, Turkey, Georgia, and Russia, with their rich natural resources and cultural heritage, tourism can be an important basis for economic expansion, and a way to form an acceptable image of the countries as safe, open, hospitable, and complex.

Keywords: Sustainable tourism, hospitality, destination, strategic roadmap, tourism, economy, growth, state support, mechanism, policy formation, state program.

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