Who looks for a quantitative information?
Answer(s): A
An analytic decision maker looks for quantitative information, or data that can be counted or measured in numerical values. An analytic decision maker uses logic, facts, and statistics to make decisions, and prefers objective and structured data. A heuristic decision maker, on the other hand, looks for qualitative information, or data that is descriptive and not expressed numerically. A heuristic decision maker uses intuition, experience, and judgment to make decisions, and prefers subjective and unstructured data.
CITM Study Guide, page 8, section 2.3; What is Quantitative Data?, paragraph 2.
The requirements for managerial control decisions fall between Operational and Strategic planning.
Managerial control decisions are those that involve measuring and correcting the performance of activities of subordinates to ensure that the enterprise objectives and plans are being accomplished. Managerial control decisions fall between operational and strategic planning because they are concerned with both executing the strategy and tracking its progress. Operational control decisions are those that focus on the efficiency and effectiveness of specific processes, tasks, and functions. Strategic control decisions are those that evaluate the alignment of the strategy with the external and internal environment, and make adjustments if necessary.
Managerial Control:Definition, Features, Scope, and Process, Types and Levels of Control Principles of Management, The Control Function of Management - MIT Sloan Management Review
Knowledge is a strategic resource for many organizations.
Knowledge is a strategic resource for many organizations because it enables them to create value, innovate, and compete in the knowledge economy. Knowledge management is the process of acquiring, creating, sharing, and applying knowledge to achieve organizational goals and objectives. Knowledge strategies are the plans and actions that align the knowledge resources and capabilities of an organization with its intellectual requirements and strategic direction. A knowledge strategy defines how an organization intends to use knowledge as a source of competitive advantage and how it will manage its knowledge assets and processes effectively and efficiently.
Knowledge Strategies - Cambridge University Press & Assessment1 Strategic knowledge management: theory, practice and future challenges - Emerald Insight2 Managing organizational knowledge as a strategic asset - Emerald Insight3
Which type of knowledge is represented by facts?
Explicit knowledge is the type of knowledge that can be easily articulated, expressed, and recorded in the form of text, number, symbol, code, formula, or musical note. It is the knowledge that is based on facts, data, and rules that can be shared and communicated. Examples of explicit knowledge are company policies, process documents, research reports, etc12345
1: Different Types of Knowledge: Implicit, Tacit, and Explicit | Bloomfire2: Tacit Knowledge Vs. Explicit Knowledge - Association for Intelligent Information Management3: Tacit Knowledge: Definition, Examples, and Importance - Helpjuice4: Explicit Knowledge: Definition, Examples, and Methods - Document3605: Difference Between Explicit Knowledge and Tacit Knowledge - Key Differences
Which type of knowledge is difficult to explain?
Tacit knowledge is the knowledge that is acquired from one's own experience, which cannot be easily expressed through words or pictures. It is personal, subjective, and based on intuition and insights. It is difficult to explain because it is often implicit, uncodified, and context-specific. Examples of tacit knowledge include facial recognition, riding a bike, or playing a musical instrument.
Tacit Knowledge Vs. Explicit Knowledge, Difference Between Explicit Knowledge and Tacit Knowledge, Tacit vs explicit knowledge: Exploring the key differences, Different Types of Knowledge: Implicit, Tacit, and Explicit, Explicit Knowledge: Definition, Examples, and Methods
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