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A 2011 report explores the impact of business acumen training on an organization in terms of intangibles and more tangible expressions of value. [13] The findings support the notion that business acumen is a learned skill — developed on the job by learning the required skills from knowledge mentors while working in different employment positions.
Trait ascription bias, the tendency for people to view themselves as relatively variable in terms of personality, behavior, and mood while viewing others as much more predictable. Third-person effect, a tendency to believe that mass-communicated media messages have a greater effect on others than on themselves.
The following terms are in everyday use in financial regions, such as commercial business and the management of large organisations such as corporations. Noun phrases [ edit ]
The term "curse of knowledge" was coined in a 1989 Journal of Political Economy article by economists Colin Camerer, George Loewenstein, and Martin Weber.The aim of their research was to counter the "conventional assumptions in such (economic) analyses of asymmetric information in that better-informed agents can accurately anticipate the judgement of less-informed agents".
Lessons learned techniques: techniques to learn from what has happened before and what could be done better the next time. [23] Mentoring: a way to share a wide range of knowledge from technical values to technical and operational skills. Via mentoring programs, it is possible to share tacit norms of behaviour and cultural values. [23]
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Procedural knowledge (i.e., knowledge-how) is different from descriptive knowledge (i.e., knowledge-that) in that it can be directly applied to a task. [2] [4] For instance, the procedural knowledge one uses to solve problems differs from the declarative knowledge one possesses about problem solving because this knowledge is formed by doing.
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