98 Chapter 4 KnowledgeManageMent
when making critical business decisions. This also helps in the globaliza-
tion of the business.
4.3.2 Reducing Risk and Uncertainty
Dependency on the people who have critical knowledge is risky, but this
risk can be reduced by collecting and managing this knowledge. Knowledge
should be always available on demand and in a timely fashion. That way, risks
and uncertainty involved with the business are minimized.
4.3.3 Improving the Quality of Decisions
Ready access to knowledge helps management make better decisions. It
opens up new opportunities and even creates new knowledge to support
innovative decisions. This directly improves the business’s performance.
4.3.4 Improving Customer Relationships ...