Answered: Identify and describe what you believe…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

Identify and describe what you believe should be the most important driver of
knowledge management for the business. Justify your choice.

Expert Solution

Step 1

Knowledge management

An organisation may become more productive by using a collection of tools, processes, methodologies, practises, and desirable behaviours known as knowledge management. It is a discipline that encourages an integrated method for locating, seizing, analysing, retrieving, and sharing each and every information asset inside an organisation. The assets may include databases, processes, records, regulations, and previously unrecorded knowledge and experience in specific employees.

Knowledge management is often referred to as information driven business management in companies, where it supports the use of methodologies for knowledge exchange to encourage learning and innovation within the company.
The goal of knowledge management is frequently to capture knowledge. It has to do with how you may convey a pearl of wisdom or an insight in a way that captivates listeners' curiosity and encourages them to want to know more.
Knowledge management has a lot to do with how we act and function, the cultures that we create, promote, and even face as organisational leaders. To encourage and create a space where individuals can openly discuss their shortcomings as well as their accomplishments, you may occasionally need to confront or contradict a "not invented here" culture.
Processes, behaviours, learning, technology, and networks are all included in knowledge management. This is what makes it such an intriguing and ever-changing field.