By Dr Ashok Ganguly (auth.)
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The European Union DGXII has also pioneered the development of the concept of demonstrator projects with the sole objective of enabling small and medium enterprises to afford the risk involved in developing and commercialising new technologies. While the Framework initiative of the European Union has taken full advantage of the emerging collaborative formations, this has not yet been wholeheartedly embraced by parts of the academic communities in different European countries. Many academics participate in programmes primarily because the Framework has become a valuable funding source.
Similar conditions of poor investment in education prevail in southern Latin America, Africa and Eastern Europe. The impact of mass higher education in the economic transformation of the USA, Western Europe and Japan is now considered as the most profound factor in the explosive growth of small service and high technology industries, generating unprecedented opportunities for knowledge workers. Among the most signiﬁcant efforts of mass higher KNOWLEDGE AND ITS MANAGEMENT 33 education, of special signiﬁcance for the production and distribution of knowledge is the great increase in the market for continuous education, and thus of the emergence of a learning society, one in which lifelong study as well as training and retraining are possible and now taken for granted by large segments of the population.
Most other countries have yet to become aware of such massive transformations taking place in relationships in the academic, industrial and social spheres, and how such relationships are providing impetus to the harnessing and exploitation of knowledge with which to generate wealth and provide social good. The much-maligned multinational corporations (MNCs) are among the pioneers in spreading the concept of knowledge management in different geographical locations almost as an economic compulsion demanded by their core investments.