Meaning of best practices
Best Practices
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Meaning and definition of best practices :
Best Practices: Sharing of best practices within an organization is an important area of KM. Such knowledge sharing enables lagging departments to catch up with leaders. For example, the Ispat group, global leaders in the steel industry, has driven up productivity by systematic sharing of best practices in their plants across the world. At a higher level, a best practice is the distillation of accumulated wisdom about the most effective way to carry out a business activity or process. Viewed this way, arriving at a best practice involves comparison with other firms within the industry and sometimes across industries. For example, Toyota has established best practices in the area of lean manufacturing, Dell in supply chain management and McKinsey in tacit knowledge sharing.
For the term best practices 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.
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Glossary of knowledge terms
Best Practices
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