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E-book The Leading World’s Most Innovative Universities
Since the last decades of the twentieth century, most coun-tries, including the Kingdom of Saudi Arabia, have beenseeking to transform their economies from depending onprimary natural resources to a knowledge-based one, pro-viding a permanent source for economic growth, and thusachieving sustainable development, and helping in diversi-fying the national economic framework, and multiplyingincome and wealth resources of the country other than pri-mary resources, mainly crude oil.In all countries of the world, sustainable economic devel-opment is facing challenges imposed by modern develop-ments caused by globalization andfierce competition.Consequently, economic development now is in need forcreativity and innovation, rising competitiveness for advancedindustries, increasing its efficiency, and managing investmentrisks, in addition to its need for high-skilled human resourcesinputs. This is where universities’role comes into action as abasic resource with their human assets and research institu-tions capable of producing knowledge, creativity, and inno-vation represented in researchers, research centers, andscientific departments. Universities are considered a resourceof economic development and the most important inputs ofproduction processes for the knowledge-based economy inthis century. Pioneering universities represent an integral partof the production system of innovations and technologies andits transferring to business and society [1].As known, this is the age of information and knowledge,and this is due to the reliance on scientific research, cre-ativity, and innovation. Also, the foundations of today arelaid upon the achievements of the industrial revolution fol-lowed by information and communication revolution.Information and communication revolution, supported byincreased efforts and achievements of scientific research,lead to multiplied and varied knowledge of science andtechnology. Furthermore, the global openness and substan-tial development in the means of mobility and communication showed that the reached innovations,achievements, and inventions are not the end but still to betransformed and translated into the industrial practicalfield,achieving record profits and returns. This caused the trans-formation into economics of knowledge as a natural out-come of the effective transformation to knowledge societiesin many countries.Every country is keen on exploring natural resources anddeveloping its means and capabilities. Recent studies showthat the richest untapped resources in the Arab region,especially within the last two centuries, would be the powerof the human mind. Although major industrialized countrieshave far preceded us toward technology renaissance sincemore than a century, the modern thinking renaissance marchhas not started until the late decades of the twentieth century,thus giving hope in catching up, provided that an initiativeshould be taken to embark into thisfield with the neededpersistence, vision, and strategy.
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