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Single-loop learning is the process of correcting errors using existing methods and policies without altering the underlying governing variables. This approach is significant in organizational learning as it enables organizations to make improvements within the current system, thus maintaining stability and control.

Double-loop learning involves questioning and modifying the underlying governing variables behind the existing organizational strategies and norms. This principle is significant as it allows for transformational change, learning that goes beyond simple adjustments, and can lead to enduring improvements in organizational effectiveness.

The learning organization is an organizational philosophy where a company continuously transforms itself through the practice of knowledge acquisition, sharing, and adaptation. Its significance lies in its ability to foster a culture of continuous improvement and adaptability, ensuring long-term survival and competitiveness.

Knowledge Management refers to the systematic process of creating, storing, sharing, and effectively using organizational knowledge. It holds significant importance in organizational learning, as it enables organizations to leverage their collective wisdom for innovation, strategic decision-making, and maintaining a competitive edge.