Knowledge Management

Stage 5: Reprocessing

Learners then orally test the lessons of Stage 4 on a variety of different scenarios such as changed raw material circumstances, increased competition, lack of finance and specified outside regulation, and so on—the circumstances that managers think may be the upcoming decision-making variables. For this, it is useful to draw on the predictions of industry economists and other analysts, whose opinions can be brought in but are often found in the newspages of responsible newspapers and journals. Individuals effectively predict what is likely to happen in the future and then suggest what actions should be taken to refine the way both the prior determination and the refined determination—the one that was reprocessed in Stage ...