Abstract:
Utilization ICT and Knowledge in economic applications are becoming the most
important assets by outperforming traditional capital intensive, technology intensive or
labor intensive comparative advantages of any country. The power of this transformation
can be recognized in terms of its impact on knowledge sharing, dissemination and
utilization in socio economic behaviors of any country. When the knowledge and
knowledge outcomes are having major impact on all the human activities, then that
economy can be identified as a Knowledge Society. This study was conducted to evaluate
the nature, status and competence of Sri Lanka as a developing country to face this rising
wave of Knowledge Society and potential to regain the economic development that has
been there as better economy in South-East Asia. Study used a benchmarked indicator
framework by developing both quantitative and qualitative indicators to evaluate the prerequisites
to be a knowledge society and outcomes of a knowledge society. According to
the literature review and comprehensive analysis more than thirty (30) indicators study
found that In South-East Asian region Rep. of Korea is the best knowledge society while
Singapore, Malaysia, and also India are showing great potential of be competitive global
knowledge societies. Rather than having emerging enthusiasm on mobile technology and
modern CDMA technology, Sri Lanka needs to show any specific urgency, adaptation or
greater enthusiasm to be a knowledge society in terms of knowledge creation,
dissemination and utilization of knowledge in economic activities. There are no
identifiable solid interrelations between each pre-requisite and also between the outcomes
in Sri Lanka. They were trying to develop as isolated sections. That was the reason why,
social factors such as health and general education are at satisfactory level in Sri Lanka
but economic performances far away from emerging Asia. By implementing
recommended strategies of the study Sri Lanka is expected to make economic interlinks
between every section of the country that would be compulsory to be a competitive
global knowledge society.
