Knowledge refers to the human faculty resulting from interpreted information i.e., understanding that germinates from a combination of data, information, experience, and many others. In the organizational context, knowledge is the sum of what is known and resides in the intelligence and the competence of people.
It can be as with practical skill or the theoretical understanding of a subject. It can be more or less formal. The advantages of knowledge are:
Knowledge ensures customers satisfaction and generates growth.
The more knowledge becomes more valuable, more applicable, and effective.
Uses labor, knowledge becomes more valuable and more applicable.
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