Answer to Question #53031 in Other Economics for Raze
Justify recommendation for the improvement of information and knowledge needed for above decision making.
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.