Which of the Following Statements Best Describes Knowledge Management

question 76

Multiple Choice

Which of the following statements best describes knowledge management?

• A) Knowledge management is the same as information management.
• B) While companies have the ability to manage knowledge, most cannot manage information.
• C) Knowledge management involves collecting, processing, and condensing information.
• D) Knowledge management is more difficult to accomplish than information management.

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Definitions:

Resource Availability

The extent to which inputs required for production, such as raw materials, labor, and capital, are readily obtainable in the economy or market.

Technological Capabilities

The skills, knowledge, tools, and processes available to an individual, organization, or society that enable technological developments or innovations.

Comparative Advantage

The capacity of a person, business, or nation to create a product or offer a service at a reduced opportunity cost compared to their rivals, thereby gaining specialized production and advantages in trade.

Production Possibilities

The different quantities of goods that an economy can produce with a certain set of resources and technology.