Knowledge Management Support for Decision Making in the Pharmaceutical Industry

Abstract

The purpose of this chapter is to explore the practical application of knowledge management as an aid to decision making by pharmaceutical firms which comprise an industry that seems very well suited for knowledge management investigation. Although researchers assert that knowledge management has moved beyond fad status to become mainstream, practitioners remain skeptical and express major concerns regarding the ambiguity surrounding the sub-discipline associated with the management of knowledge. The major players in the pharmaceutical industry have already implemented knowledge management systems and therefore may experience a competitive advantage over other pharmaceutical companies. No attempt will be made in this chapter to suggest how the lessons learned from the pharmaceutical industry can be generalized to other industries.