The importance of knowledge in the

Contact Us Importance of knowledge in our life Knowledge is considered as the state of knowing facts and information acquired with the help of experience and reading books. Evolution of civilization over the years is due to increase in the knowledge base of the humans. A fascinating fact about knowledge is that in spite of being shared with others, it increases.

The importance of knowledge in the


Using information technology to gain and manage knowledge What is knowledge in a business? Useful and important knowledge already exists in your business. It can be found in: You can tailor this market knowledge to target particular customers with specific types of product or service.

Your files of documents from and about customers and suppliers hold a wealth of information which can be invaluable both in developing new products or services and improving existing ones. Your employees are likely to have skills and experience that you can use as an asset.

Having staff who are knowledgeable can be invaluable in setting you apart from competitors. See the page in this guide: Using this knowledge in the right way can help you run your business more efficiently, decrease business risks and exploit opportunities to the full.

This is known as the knowledge advantage. Basic sources of knowledge Your sources of business knowledge could include: You may be able to develop mutually beneficial knowledge sharing relationships with customers by talking to them about their future requirements, and discussing how you might be able to develop your own products or services to ensure that you meet their needs.

You can use formal surveys to gather this knowledge or ask for their views on a more informal basis. Market knowledge - watch developments in your sector. How are your competitors performing?

How much are they charging? Are there any new entrants to the market? Have any significant new products been launched? Knowledge of the business environment - your business can be affected by numerous outside factors.

You could consider setting up a team of employees to monitor and report on changes in the business world. Professional associations and trade bodies - their publications, academic publications, government publications, reports from research bodies, trade and technical magazines.

The importance of knowledge in the

Trade exhibitions and conferences - these can provide an easy way of finding out what your competitors are doing and to see the latest innovations in your sector.Why is Knowledge Important?

Knowledge is, roughly, useful information. It is information that's adapted to a purpose. It is good explanations, and it is solutions to problems people had.

The importance of knowledge in the

Knowledge shouldn't be expected to be perfect. A partial solution is still knowledge, even if it contains some mistakes, and can be improved on in the future. Knowledge. Knowledge is the mental grasp of the facts of reality.

It is the awareness of the identity of particular aspects of reality. It is not just an awareness of reality, but an understanding of it.

Knowledge simply refers to the condition of knowing something. It is the information, facts, principles, skills and understanding, etc.

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that is acquired through education and experience. Sep 30,  · Part 3 importance of knowledge by Dr Muhammad tahir_ul_Qadri Part 4 importance of knowledge by Dr Muhammad tahir_ul_Qadri. Aug 20,  · This overload of data is making knowledge management increasingly more important.

Three key reasons why actively managing knowledge is . The Importance of Knowledge By Stanley C Loewen, In Miscellaneous They say that ‘knowledge is power’ and while this is technically meant more metaphorically than .

What is Knowledge Management and Why It's Important | elcom