Meaning of knowledge business
Knowledge Business
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Knowledge
Glossary of knowledge terms
Meaning and definition of knowledge business :
Knowledge Business: A knowledge business leverages knowledge to create value for customers. All work involves some amount of knowledge. But in truly knowledge businesses, the core activity is processing data into information and knowledge that in turn creates value for customers. According to Michael Zack, knowledge based organizations have four characteristics. Such organizations spend substantial time on application of existing knowledge and creation of new knowledge. The boundaries of knowledge based organizations are blurred. They seek knowledge from customers, vendors, alliance partners and even competitors. Knowledge based organizations view knowledge as a key resource and keep asking what knowledge is needed to execute the company’s strategy. These companies make conscious attempts to bridge knowledge gaps. Last but not the least, knowledge based organizations take a different perspective compared to other equivalent organizations. They take into account knowledge in every aspect of their operations and treat every activity as a potentially knowledge enhancing act.
For the term knowledge business may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be used for medical and legal or special purposes.
Source : http://www.vedpuriswar.org/glossary/KnowledgeManagement%20TERMS__Aug_27_06.doc
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Glossary of knowledge terms
Knowledge Business
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