Knowledge as a Resource and Intellectual Capital in Development

The importance of knowledge in the 21st century cannot be over emphasized in relation to the fact that it is a major criterion that places countries of the South as mostly underdeveloped, poor and impoverished as against countries of the North as rich and well-off. Through relevant literature this paper discusses the various concept of knowledge, perspectives in knowledge management and highlights the importance of innovation in knowledge organization. The paper concludes that the concept of knowledge as an industry should be well understood in any developmental process and in the sustenance of productivity through information technology and innovation.