Exam Preparation

Topics: Knowledge management, Price, Management Pages: 4 (790 words) Published: June 10, 2013
From session 1

Important terms

Ontology
* It defines how the organization defines the world, their market, their costumers and themselves. * It defines how resources are spent
* It defines the range of good and services a company can produce * It is linked very directly to their epistemology

Epistemology
* Is concerned with the following questions: What are the necessary and sufficient conditions of knowledge? What are its sources? What is its structure, and what are its limits? * It is about issues having to do with the creations and dissemination of knowledge in particular areas of inquiry * Epistemology is important for business because:

* It defines what kind of knowledge is valuable
* It defines how resources are spent
* It defines the range of good and services a company can produce * It defines who your costumers are
* Epistemology sets direction for how we perceive and hence work with knowledge within the frame of our ontology

Knowledge
* Knowledge implies sustainable, heterogeneous resource distribution * Knowledge changes the nature of resource investment decisions * Path dependency in the knowledge economy increase
* Knowledge triggers positive feedback loops rather than negative ones * Knowledge changes the nature of work and property
* Knowledge emphasizes the social context
* Knowledge is:
* Resources are fundamental for economic growth – Combining the tangible and reproducible dimensions * Knowledge has a new and increasingly important role in our society and economy – And we need to focus on what knowledge is

Absorptive capacity
* Can be seen as the company´s ability to attract and retain knowledge and turn it into products and services * It is not so much the knowledge they create as the way they can make use of it * It depends on:

* Prior knowledge
* Dedicated investments
* An open approach to knowledge...
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