Knowledge management

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1 What is KM?
KM involves people, technology and processes in overlapping parts, and at a minimum includes these parts:
Using accessible knowledge from outside sources Embedding and storing knowledge in business processes, products and services Representing knowledge in databases and documents Promoting knowledge growth through the organization’s culture and incentives Transferring and sharing knowledge throughout the organization Assessing the value of knowledge assets and impact on a regular basis

2 Why is KM important to an organization?
Proactive consumers, called “prosumers,” are better informed than consumers of a decade ago. Their feedback enables firms to adapt products and services to meet their needs in a more focused way
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Knowledge is essentially social in nature.
Knowledge processes are always part of an open system.
Knowledge is relative to the holder of that knowledge.
Knowing takes place in relation to existing knowledge.
Knowledge includes a belief component and this component is part of a system of beliefs, values, and rationality.

9 What is the difference between inductive and deductive reasoning?
Inductive and deductive reasoning are both types of formal reasoning. Deductive reasoning takes known principles and applies them to instances to infer some sort of conclusion and is also called exact reasoning because it deals with exact facts and exact conclusions. Inductive reasoning works the other way around, starting with a set of known facts or individual cases and leading to a general conclusion – from specific examples to general rules. Inductive reasoning is the basis of scientific discovery.

10 What is systems thinking and what is its importance to an organization?
Systems thinking in a corporate sense means understanding how the various parts of a company work. This includes learning behavioral patterns in the system and culture or system environment in which the employees and management operate. Systemic thinking is expected to support innovation and continuous improvement processes, social competence and interactions. Systems thinking allows the thinker to take a big picture look at the process and understand how the global entity is
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