What is knowledge defined as in a business context?

In a business context, knowledge is defined as the facts, information, and skills acquired through experience or education. This definition emphasizes the comprehensive nature of knowledge, which encompasses not only raw data or mere opinions but also the understanding and expertise that individuals gain over time. Knowledge enables employees and organizations to make informed decisions, innovate, and create value by applying learned concepts to real-world situations.

By focusing on experience and education, this definition captures the importance of both practical skills and theoretical learning. It recognizes that knowledge is built over time through various experiences, including formal education, training, and hands-on activities. This blend of theoretical understanding and practical application is crucial for effective problem-solving and strategic planning in a business environment.