Impediments faced by educational institutions in creation of knowledge economy: a case study of Punjab Pakistan

Knowledge has become a powerful tool for the development of economy. The important role played by educational institutions in the production of knowledge economy cannot be denied. Pakistan is a developing country and has limited resources to deal with the new challenges of economy, so the research was designed to find out the problem faced by educational institutions in the process of creation of knowledge economy. The research was conducted into two parts. In the first part, qualitative approach is used to develop variables. These variables are further analyzed by using quantitative inquiry. Collected data is analyzed by using the SPSS. Descriptive statistics are applied to data to get the results. Results guide us that educational institutions are facing problems in providing access to knowledge, rich infrastructure, funds, incentives, research and development, developed human capital, and developing link between industry and universities. These problems are impeding the process of knowledge creation. Knowledge creation can only be enhanced by dealing the above mentioned problem.