Knowledge based economy and its support in decision making

Mai Al Neyad, a Senior Specialist in RTA. Additionally, we appreciate Mrs. Maissa Omar, the Manager of Services Quality Assurance for her guidance which enriched our understanding of this topic. Finally, we are indebted to the course instructor Dr. Mounir Elkhatib for his direction and valuable feedback throughout the journey. Ethical Considerations 9 4. Findings 9 5. Analysis 11 6. Conclusion / Recommendations 13 7. Reference 15 8. The specified choice has contributed to a radical change in the UAE economic setting, causing every agent in its decision-making process to make decisions with the help of the existing knowledge system (David 2016). Study Objectives This study aims to find a knowledge-based economy and its support in decision making in the UAE government sectors, and we chose RTA as an example. Also, it will include the initiatives that took place regarding the KBE implementation as well as the tools and techniques that are used to support decision making in the KBE.

Significance of the Study This study is very useful in providing further knowledge about the subject of knowledge-based economy, especially from the organizational environment setting. The study will try to fill in the knowledge gaps arising from previous studies. Therefore, it is vital to include the learning of this business model to educational fields to amplify the implementation of the approach to most economic organizations (Abdulwahed, 2017). Active discussion of the importance of the knowledge-based model of economic development is related to the emergence of essential results in certain successful economies, among which the UAE is one of the best examples. The success of the knowledge-based approach implementation depends on many factors that need their improvement in the nearest future. Even the most progressive economies may face difficulties in this field.

The UAE economy that demonstrates leading results in its business projects’ completion still experiences technological readiness issues (Alfaki & Ahmed, 2017). The success of any competitive enterprise lies in its ability to make strategically correct decisions and finding good solutions in the circumstances of difficulty or change. The framework of the knowledge economy provides all tools for business leaders to implement a decision-making procedure most effectively (Barao et al. With the show up of knowledge orientation in business more skilled jobs are required such as roles become more specialized, and decision-making needs to delegate. So, education and knowledge prioritization make the task delegation possible (North & Kumta 2018, p. Regarding the benefits of knowledge management (KM) which mentioned in "NI business INFO" are better and faster decision making, problem-solving, increased rate of innovation, and improved business processes.

Interviews are a common method of data collection in qualitative studies and require preparation of the questions and schedule for the process. In order to achieve better results using interviews, it is always advisable to engage the participants. In Data Collection, we will highlight the knowledge-based economy and its support in decision-making framework in Road and Transport Authority “RTA”, as one of the important departments in Dubai government. According to the RTA website, Dubai is one of the fastest developing cities in the world, targeting continuously to provide a high-quality infrastructure service. To provide a classy transportation network for Dubai's population; it is a prominent feature of the government's leader’s agenda to improve public transport facilities and develop roads throughout the emirate to make mobility smoother and safer.

Findings This study sought to understand the place of knowledge-based economy in the Roads and Transport Authority (RTA) and, first, looked at the mission, vision, and the objectives of the authority. According to the interview responses, the authority seeks to develop integrated and sustainable transportation systems and provide distinguished services to all stakeholders to support Dubai's comprehensive growth plans through preparing policies and legislations, adapting technologies and innovative approaches, and implementing world-class practices and standards. The interview also helped to demonstrate the authority’s vision; safe and smooth transport for all, a vision they intend to accomplish through planning and implementation of the transportation, road and traffic requirements in the emirate and between the other emirates in UAE and neighboring countries.

The interview also realized that the authority aims to advance in all aspects, realize a SMART Dubai; smooth transport for all people, and achieve happiness among people (both clients, employees and other stakeholders). Moreover, the research seeks to reach financial suitability through its operations. As per the interview with an employee in RTA, the management is always keen to have a knowledge base culture as well as increase the awareness of building an effective decision making among middle management employees. Building a cohesive decision-making system is the top-management priority to provide best services. The research realized that RTA management has built many tools in order to support the concept of the KBE during the decision-making framework. For example, the RTA launched new section in the DG office, a section called the decision-making framework support.

The section has a direct connection with the KM & innovation department. The leading economies, one of which is the UAE, show profound results in the utilization of the approach. However, the literature review indicates the need for more in-depth investigation of the possible ways of fostering the innovation readiness of the enterprises to meet the requirements of the time. RTAs’ top management always supports the concept of knowledge based economy. They have launched the KM strategy called “Advance RTA” and its initiatives and Key Performance Indicators (KPIs). As a result, RTA organizational structure has been updated to have a new department called knowledge and innovation that is responsible for all KM related matters in addition to its governance and practices. However, the specified path has demanded significant changes to be implemented across industries to create a sustainable environment for decision-making.

Besides, the lack of competency among staff members and the absence of relevant skills affect the outcomes of decision making in the described environment. At present, a vast range of employees are unaware of the tools that they need to meet the KBE standards. Consequently, the quality of their performance may be comparatively low, which can be addressed by enhancing the existing framework for economic education. Soon people become aware of the goals that KBE pursues. 9, no. 2, pp. Alfaki, I & Ahmed, A 2017, From oil to knowledge: transforming the United Arab Emirates into a knowledge-based economy, Routledge, New York. Al-Mubaraki, HM & Busler, M 2017, ‘Challenges and opportunities of innovation and incubators as a tool for knowledge-based economy’, Journal of Innovation and Entrepreneurship, vol.