On the use of benchmarking and good practices for knowledge management for development

Is it possible that less developed societies may learn and profit from the stories and lessons of the developed economies? This paper explores the feasibility of doing so through the use of benchmarking and good practices of knowledge management policies for development. In the era of the knowledge economy, where knowledge is the key determinant of competitiveness, it is posited that it may be desirable to evenly distribute knowledge within and across societies so that trade and cooperation may take place. The study begins with a review of the literature on knowledge societies, their characteristics, the prevalence of knowledge disparities, knowledge policies for development, and the role of benchmarking and good practices in formulating such policies. A framework is proposed for identifying measures that help reduce knowledge disparity and promote development. Using this framework, a detailed analysis with data from the World Bank's Knowledge Assessment Methodology custom scorecards was conducted. A Knowledge Management Index was consequently constructed for the use of policymakers. While quantitative measures were used for benchmarking purposes, the analysis of good practices and lessons learnt was essentially qualitative. Finally, the paper concludes by underscoring the key role of benchmarking knowledge policies and learning from good practices in order to promote development.