Final answer:
The business is using knowledge repositories to enable project teams to update and share information and expertise continuously within a virtual workspace, supported by cloud storage and collaboration platforms.
Step-by-step explanation:
The business is using knowledge repositories as a form of knowledge-management technology to establish virtual workspaces for project teams. These repositories allow for continuous updating and sharing of information and expertise among the members of the work teams. Various technologies support this approach, such as cloud storage providers that offer the ability to access and share files from any device, ensuring the most current version of the document is always available. Additionally, collaboration platforms such as Slack, Zoom, and Microsoft Teams provide shared online workspaces where team members can communicate effectively through file sharing, video conferencing, and task organizing.