KNOWLEDGE MANAGEMENT AS THE BASIS OF CREATION OF THE PUBLIC WELFARE

Irma Chkhaidze

Doctor of economics,  associate professor

Batumi Shota Rustaveli State University

Georgia, Batumi

E-mail: chkhaidze.irma@bsu.edu.ge

http://orcid.org/0000-0003-4430-181X

Abstract

Introduction.  In terms of modern market economy, the creation of ,,public welfare” is stipulated with both state – by creating the ,,common public welfare” and business sector – by creating an ,,individual welfare”, which is based on the creation of the ,,personal welfare” and it envisages to gain and maintain the market competiveness on the one hand and to get maximal profit on the basis of creation of  ,,non-contradictory welfare” for the public on the other hand.

The main goal of the study is to be analyzed the advantages of ,,individual welfare”, created on the basis of merging the well-grounded and innovative knowledge in the companies.

The research topic is valuable and interesting in term of that, by providing the ,,well-grounded knowledge”, companies are given an opportunity to take part in the ,,game” and to ensure the competitiveness on the one hand and on the other hand,  to create an important barrier in the company with the same level of development or with the same degree of knowledge as his competitors, what can reveal the competitiveness of the company. And ,,innovative knowledge” gives the companies an opportunity to change the ,,rules of games”, what ensures their leadership on the market.

During the studying process, it`s been used the methods of analysis and synthesis, comparative method, qualitative method. Proper conclusions and recommendations have been worked out on the basis of using the research methods.

Key words: Knowledge management, ,,well-grounded knowledge”, ,,innovative knowledge”, ,,public and individual welfare”.