Define knowledge management

1. Define knowledge management. In one paragraph, describe three advantages that a management consulting firm could gain over its competitors by creating an internal knowledge management system.
2. Identify an industry (or product within an industry) in which buyers would find reverse auctions to be a useful procurement tool. In about 300 words, explain why your chosen industry or product would be a good cancidate for a reverse auction procurement process.
3. Some eBay users believe that the use of sniping software is unfair and that eBay should prohibit its use. Present facts and logical arguments that would convince eBay to prohibit the use of sniping software.
4. Describe the reasons a buyer might have for wanting to participate in an industry consortium marketplace instead of setting up its own private company marketplace.

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