A new theoretical approach towards the societal transformations and the processes related to creating a knowledge-based society and knowledge economy, as well as sustainable development processes are described in the article. The main idea is that the societal transformations, as well as creation and development processes of a knowledge-based society and knowledge economy may be attributed to the category of global transformation and sustainable development processes; therefore, all general phenomena and characteristics of global transformations and sustainable development in general are absolutely typical of creation and development of a knowledge- based society and knowledge economy. The processes of the societal transformations and creating of a knowledge-based society and knowledge economy as well as moderniaation are analysed in the general context of transformation and sustainable development processes. Creating and modernisation of a knowledge-based society and knowledge economy are very complicated processes, oriented to the formation of a new quality of the society and a qualitatively new lifestyle. These processes may be described as "twice" as complicated, because they win distinction by orientations to the pursuit of new quality in two aspects: * a knowledge-based society and knowledge economy, compared to the "traditional" society and economy, are in all cases described as qualitatively new; * creating and development of a knowledge-based society and knowledge economy takes place under the conditions of global changes, which means that qualitative changes take place in the entire global space; the essence of those changes is the creation and spread of a knowledge-based society and knowledge economy. Special attention is given to the conclusion stating that in the environment of the knowledge based society creation and generating knowledge economy and development, provisions for sustainable development should be attained. The following general conclusions are made: * the processes of creating a knowledge-based society and generating knowledge economy and their further development should be understood as an undivided unity; * the processes of creating a knowledge-based society and generating knowledge economy and their further development should be perceived as relevant to all spheres of life meaning social, economic and political life, culture, advancement of science and technologies, interaction with nature in general and environment in particular; * the processes of creating a knowledge-based society and generating knowledge economy and their further development should be comprehended as factors providing economic preconditions for modernisation of the society and refinement of its life in accordance with the standards, norms and values of a knowledge-based society; * the processes of creating a knowledge-based society and knowledge economy and related further development should be interpreted as a multi- dimensional, extremely complex and uninterrupted process, which manifests itself in cyclical changes and leaps towards higher-quality standards; * the complex approach towards the knowledge based society and knowledge economy creation and related further development should be implemented in all stages of scientific research, studies and practical activities, including prioritising of various programmes on multi- and cross-disciplinary research and studies, as well as strategic solutions having a complex character in various stages of regional development, planning and designing of economic and technological leaps. The societal transformations and the processes of creating a knowledge-based society and knowledge economy and related further development should be analysed and assessed in the context of sustainable development priorities. By way of knowledge-based society and knowledge economy creation and further development, harmonisation should be sought in the following areas: * in the fields of various social, economic, political development, culture, advancement in science and technologies, interplay with nature and other fields; * in the environment of changes in various countries, regions or otherwise geographically or regionally defined systems; * in changes occurring in various layers in society. The societal transformations and the processes of creating a knowledge-based society and knowledge economy as well as related further development should be analysed and assessed in the context of globalisation and internationalisation processes, as well as processes of global transformations. The perspective theoretical concept intended for scientific cognition of sustainable development and the knowledge-based society and knowledge economy creation processes phenomena is analysed herein. [ABSTRACT FROM AUTHOR]