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Veleučilište Lavoslav Ružička u Vukovaru , Vukovar , Croatia
In the past few years, terms such as knowledge society and knowledge economy are often used in conventional applications. Knowledge management and knowledge have gained a new dimension because they have become a new competitive weapon and determining factors upon which are based economic development and competitive position of companies in the market. Unlike the past when the economic development of an area was based on natural resources and material goods, modern economic development is based primarily on the use of new information, innovations, knowledge, and, therefore, on the quality and educated human resources.Hence, the knowledge and educated human resources are imposed as a starter of an economic development of an area. Knowledge economy will be recognized as the foundation of successful economies of the developed countries. An important role in the economic development have institutions of higher education from which is expected to make a market adjustment to new social needs, labor market, new knowledge and technologies. Vukovar-Srijem County, although rich in natural resources, is one of the least developed counties in Croatia. What makes this county the back of country's average, is poor educational structure of population, which negatively affects the economic development. Knowledge and educated human resources must be recognized as the backbone of the socio-economic development of this area. The resulting need is to devote the necessary attention to knowledge management and restructuring of human resources in the Vukovar- Srijem County and thus accelerate economic development. The aim of this paper is to contribute to the understanding of the concept of knowledge, the impact of knowledge management on the economy and the application knowledge management in case of Vukovar-Srijem County, and there's been a proposition of further guidelines to develop economy within the knowledge management.
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