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The New Principles of Management

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Andrzej Kozminski and Dariusz Jemielniak

The New Principles of Management is a textbook meant for European students of principles of management. Developed basing mainly on international cases as well as drawing from international examples of managerial practices, it attempts to address the needs of globalized companies better than other, typically US-centric textbooks. The New Principles of Management challenges many of the fossilized and outdated management notions and covers the topics most relevant for modern 21st century organizations, rather than their historic developments.

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CHAPTER EIGHT. INFORMATION AND KNOWLEDGE

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CHAPTER EIGHT INFORMATION AND KNOWLEDGE 198 Chapter Eight Key terms and definitions Theory Practical tips A selection of theories and beliefs The definition of knowledge The hierarchy of knowledge The types of knowledge Multiplying knowledge The learning model Case Studies This must be love How is it done in 3M? Yahoo vs. Holocaust Wal-Mart – too good of a system Zara – information is in fashion Work Out Information and knowledge: Crossword Supplementary reading Information and Knowledge “Tell me, and I will forget. Show me, and I may remember. Involve me, and I will understand.” (Confucius, 450 BCE) Key terms and definitions Publicists and politicians constantly try to convince us about the importance of information and knowledge. How does management use information and knowledge? Information is every kind of content that reaches us. Thus, it is a reflection of reality in our consciousness. By looking through a window, reading, watching television, surfing the Internet, and conversing we are bombarded with information. We can find out what the weather is in Addis Ababa, how much a barrel of oil costs in New York and in London, what kind of hairstyles the ancient Maya wore, how long pasta should be boiled and who Jennifer Lopez is dating. We assume that most of this information is of no significance to us. However, we do remember and use some of it. The temperature in Addis Ababa is important to someone who is going there or who lives there. The hairstyles of the Maya could be of...

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