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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.
In the 1970s Peter Drucker (1974) may have been the first to describe knowledge workers and knowledge work.. Knowledge is created and used by people. Strassman (1985) described the transformation of work in the electronic age from the standpoint of education and training for managers and employees, human aspects of the working environment, and issues of morale, motivation, privacy, and ...
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.
Motivating co-workers to share their knowledge is called knowledge enabling. It leads to trust among individuals and encourages a more open and proactive relationship that grants the exchange of information easily. [3] Knowledge sharing is part of the three-phase knowledge management process which is a continuous process model. The three parts ...
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.
An expert system is an example of a knowledge-based system. Expert systems were the first commercial systems to use a knowledge-based architecture. In general view, an expert system includes the following components: a knowledge base, an inference engine, an explanation facility, a knowledge acquisition facility, and a user interface. [48] [49]