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Knowledge-based decision making model [1] Knowledge-Based Decision-Making (KBDM) in management is a decision-making process [2] that uses predetermined criteria to measure and ensure the optimal outcome for a specific topic. KBDM is used to make decisions by establishing a thought process and reasoning behind a decision. [3]
Knowledge management (KM) is the set of procedures for producing, disseminating, utilizing, and overseeing an organization's knowledge and data.It alludes to a multidisciplinary strategy that maximizes knowledge utilization to accomplish organizational goals.
Davenport (1997) used an information ecology approach, in which he explored the use and abuse of information in the context of infighting, resource hoarding, and political battles as well as appropriate management in such a context. Simard (2000) [5] states that knowledge is inextricably linked to organizational mandates. Some providers strive ...
A best practice is a method or technique that has been generally accepted as superior to alternatives because it tends to produce superior results. Best practices are used to achieve quality as an alternative to mandatory standards. Best practices can be based on self-assessment or benchmarking. [1]
Knowledge management systems are technologies that serve as a repository, communication, or collaboration tool for transferring and retaining knowledge. [4] Embedding knowledge in technology can prevent organizational forgetting [ 91 ] and allow knowledge to transfer across barriers such as distance, organizational unit, and specialization.
The knowledge-based theory of the firm, or knowledge-based view (KBV), considers knowledge as an essentially important, scarce, and valuable resource in a firm. [1] [2] According to the knowledge-based theory of the firm, the possession of knowledge-based resources, known as intellectual capital, is essential in dynamic business environments. [3]
The idea of a knowledge ecosystem is an approach to knowledge management which claims to foster the dynamic evolution of knowledge interactions between entities to improve decision-making and innovation through improved evolutionary networks of collaboration. [1] [2]
A subset of information management software that emphasizes an approach to build knowledge out of information that is managed or contained is often called knowledge management software. KM software in most cases provides a means for individuals, small groups or mid-sized businesses to innovate, build new knowledge in the group, and/or improve ...