Chapter 11, Problem 4RQ

Explanation of Solution

Knowledge management:

Knowledge management is a set of process evolved in an organization in order to create, collect, retain, maintain, transfer, and distribute the firm’s knowledge.

Business value of knowledge management:

• Organization can review the process undergoing in an environment and to learn things and adopt the cultivated knowledge into its business processes.
• This adoption of new knowledge from the other environment enables to business to work efficiently and efficiently.

Types of knowledge management system

There are there types of knowledge management system. They are:

• Enterprise-wide knowledge management system
• Knowledge work systems
• Intelligent techniques

Enterprise-wide knowledge management system and their value to business:

It is used to gather, store, retrieve, distribute and project the digital content and knowledge. It is capable of searching the information which stored in the structured and unstructured data. It helps to business to face new challenges, inventing new methodologies and functionalities. It helps the firm to enhance the better decision making skills.

Knowledge work systems and their value to business:

It is a specialized system build for engineers, scientists and other knowledge workers. The workers are charged with the creation and developing the new knowledge. The managers can easily identify the experts in the firms and can allot the suited operations thus enabling the business to process the operations quickly.

Intelligent techniques:

Intelligent techniques apply the knowledge for making decisions and knowledge domains. Intelligent techniques include fuzzy logic, genetic algorithm, and intelligent agents. It provides quicker decisions and makes the operations efficient and easier. Thus it enhances the business to go ahead of new operations and process...