T&D: LESSON 2

plan that integrates the company’s goals, policies, and actions.

influences how the company uses physical capital, financial capital and human capital

- helps direct the company’s activities to reach specific goals.

what the company hopes to achieve in the medium- and long term future.

acquisition of knowledge by individual employees or groups of employees who are willing to apply that knowledge in their jobs in making decisions and accomplishing tasks for the company.

what individuals or teams of employees know or know how to do (human and social knowledge) as well as company rules, processes, tools, and routines (structured knowledge).

- knowledge that can be formalized, codified, and communicated. That is, it can be found in manuals, formulas, and specifications

personal knowledge based on individual experience that is difficult to explain to others. It is passed along to others through direct experience (e.g., interacting with other employees, watching other employees).

This approach assumes that business conditions are predictable, they can be controlled by the company, and the company can control and predict the knowledge and skills that employees need in the future.

company’s reason for existing