Role of knowledge in creating competitive advantage

A key factor in creating competitive advantage is knowledge and his creation, improvement and exploitation of opening the way to a successful business. Knowledge is the factor that generates rapid changes and provides survival under conditions of global competition and an unpredictable business environment. Training and development of employees should be the goal for companies that want to ensure the survival, growth and development. Advancement of knowledge create a favorable environment on the efficiently implementation of the objectives and challenges of today's market. A successful economy and its subjects base their competitiveness on education of its population and improving intellectual capital. Future directions for the development of our economy should focus precisely on investment in education and knowledge. Domestic companies must recognize the importance of men, with his knowledge and skills as the most important resource and ensure his professional development and training.