The First Step in Developing a Knowledge Management System Is

question 187

Multiple Choice

The first step in developing a knowledge management system is to

• A) empower employees to make their own decisions and accept the consequences.
• B) obtain the necessary information system technologies.
• C) recognize that perfect information is readily available in all organizations.
• D) determine what knowledge is most important to the organization.

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Definitions:

Payback Period

The length of time required to recover the initial outlay on an investment based on its expected cash flows.

Annual Cash Flows

The net amount of cash and cash-equivalents being transferred into and out of a business during a given fiscal year.

Net Present Value

A method used in capital budgeting to assess the profitability of an investment or project, calculated as the difference between the present value of cash inflows and outflows over a period of time.

Yearly Cash Inflows

The total amount of money received by a company over a year, from various sources including sales, investments, and financing.