Answer to Question #53031 in Other Economics for Raze

Question #53031
Justify recommendation for the improvement of information and knowledge needed for above decision making.
1
Expert's answer
2015-06-12T00:00:41-0400
Knowledge based decision making in management is the process of using organizational knowledge management to support strategic decision making in gaining competitive advantages.
A knowledge-oriented view of decisions and decision making is introduced, as a complement to classical perspectives and as a contribution of understanding computer-based possibilities for relaxing strains on decision makers. This perspective includes a model of knowledge management activities performed by a decision maker and a taxonomy of knowledge types. It leads to a characterization of decision-support system purpose, traits, and potentials that offers a basis for new research into computer-based possibilities for knowledge management.

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