question

knowledge economy

answer

wealth is created through effective management of knowledge workers instead of the control of physical and financial assets

question

intellectual capital

answer

the difference b/w the book value and market value of a firm. reputation, loyalty, commitment, brand name, employee skills and experience

question

social capital

answer

the network of friendships and working relationships b/w people inside/outside the org.

question

explicit knowledge

answer

knowledge that is codified, documented, easily reproduced, and widely distributed. engineering drawings, software code, patents

question

tacit knowledge

answer

knowledge that is the minds of the employee and is based on their experiences and background

question

360 degree evaluation and feedback systems

answer

superiors, direct reports, colleagues, and internal/external customers rate a person's performance.

question

social network analysis

answer

analysis of the pattern of social interactions among individuals

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closure

answer

the degree to which ll members of a social network have relationships with other group memebers

question

4 barriers of EFFECTIVE COLLABORATION 1. not-invented-here barrier 2. hoarding barrier 3. search barrier 4. transfer barrier

answer

1. aren't willing to provide help 2. aren't willing to provide help 3. unable to find what they are looking for 4. unable to work well with people they don't know

question

people lever

answer

method for making people more willing to collaborate by getting the right people to work on the right project

question

network lever

answer

method for making people more willing to collaborate by building nimble interpersonal networks across the company

question

formalist manager

answer

relies too much on the firm's official hierarchy; misses out on the efficiencies and opportunities that come from informal connections

question

overloaded manger

answer

has too much contact with colleagues and external ties; becomes a bottleneck to progress and becomes burntout

question

disconnected manager

answer

sticks with people they know, rather than others that might push them to build new skills

question

biased leader

answer

relies on advisers who reinforce own biases

question

superficial networker

answer

engages in surface level interaction, believes a bigger network is a better network

question

chameleon manager

answer

changes interests, values, and personality to match those of whatever subgroup is their audience. Winds up disconnected from every group

question

groupthink

answer

tendency for individuals to not question shared beliefs

question

electronic teams

answer

a team that completes tasks primarily through email communication

question

Advantages of e-team

answer

1. less restricted by geography, can obtain a broader range of human capital 2. teams can be more flexible to unanticipated challenges and rotate better teams members 3. generate social capital; have access to wider range of people

question

challenges of e-team

answer

identification and combination 1. identify who can provide the most appropriate knowledge/resources 2. know how to combine individual contributions most effectively

question

intellectual property rights

answer

intangible property owned by a firm in the forms of patents, copyrights, trademarks, or trade secrets

question

dynamic capabilities

answer

a firm's capacity to build and protect a competitive advantage. ability to sense and seize new opportunities, knowledge, and reconfigure existing assets and capabilities.

question

Social capital is a source of strength to many firms. Firms leverage their social capital in an effort to create competitive advantages. The social capital of a firm is based on ___________. a) the individual abilities of employees b) the allocation of the financial resources of the firm c) the relationships among the employees of the firm d) the knowledge of an individual

answer

c

question

New knowledge involves the continual interaction between __________ and __________ knowledge. a) intellectual; pragmatic b) tacit; explicit c) theoretical; practical d) detailed; tacit

answer

b

question

Many successful firms use internal labor markets. The most important reason for doing this is _____. a) they want to encourage job rotation b) they want to keep highly mobile employees motivated and challenged c) if employees remain in the same department for too long, they would become indispensable d) an employee who moves too much can be identified as unreliable and then eliminated

answer

b

question

In a 360-degree evaluation and feedback system, which of these does not rate the skills and performance of an individual? a) superiors b) family c) direct reports d) colleagues

answer

b

question

As the competitive environment changes, strategic management must focus on different aspects of the organization. Recently, strategic management has moved from focusing on tangible resources to ____. a) fixed capital b) working capital c) intangible resources d) investment capital

answer

c

question

Mary Stinson was required to take over a project after the entire team left the company. She was able to reconstruct what the team had accomplished through reading e-mails exchanged by the members of the team. This is an example of ___________. a) inefficient use of information management b) using explicit knowledge c) using tacit knowledge d) using replicated knowledge

answer

b

question

Advantages of effective social networks for career success include all of the following EXCEPT _____. a) access to private information b) access to diverse skill sets c) greater redundancy in knowledge sources d) greater power

answer

c

question

In an effort to capture key employees from competitors, firms may attract the symbolic leader of a group within a competing firm and hope others will follow. This has been termed _____________. a) the Columbus effect b) knowledge integration c) the Pied Piper effect d) strategically competitive hiring

answer

c

question

The use of information technology (e.g., e-mail) has increased in recent years in many organizations. This has helped to ____________. a) make more effective use of time in every situation b) communicate information efficiently c) restrict social network growth d) create smaller social networks

answer

b

question

The management of intellectual property involves all of the following EXCEPT _____. a) patents b) converting explicit knowledge to tacit knowledge c) contracts with confidentiality and noncompete clauses d) copyrights and trademark

answer

b

question

Changes in our economy have forced firms to be more concerned with protecting their ______. a) knowledge workers b) social capital c) intellectual capital d) all of these

answer

d

question

Developing human capital is essential to maintaining a competitive advantage in the current knowledge economy. Efforts and initiatives to develop human capital should be directed ____. a) at top managers b) at human resource departments c) throughout the firm at all levels d) at the employees themselves

answer

c

question

What is a major reason for Nokia to lose its competitive edge in the cell phone business? a) The team consisted of scientists from around the world. b) The team consisted of only Finnish scientists. c) All of the work required diverse skill sets. d) Each scientist worked alone, separate from colleagues.

answer

b

question

ABC, Incorporated desires to have the most qualified people in every position throughout its organization. This is an example of a concern for _________. a) decreasing labor intensive training b) developing social networks c) developing human capital d) leveraging organizational structure

answer

c

question

The least effective way to retain human capital is to _________. a) encourage employee identification with organizational mission and goals b) provide employees with a challenging and stimulating work environment c) require employees to sign agreements that prevent them from working for competitors in the future d) provide employees with financial and nonfinancial rewards and incentives

answer

c

question

Tacit knowledge __________________. a) is the same as explicit knowledge b) can be accessed only with the consent of the employees c) is found mostly at the lower levels of the organization d) can be codified but not reproduced

answer

b

question

Which of the following reasons explains why painter Vincent van Gogh died penniless, while painter Pablo Picasso left a $740 million estate upon this death? a) Picasso had a wider range of social connections and bridging relationships. b) Van Gogh had a wider range of social connections. c) Picasso was a solitary node with few connections. d) Van Gogh was a hub who embedded himself in a vast network that stretched across various social lines.

answer

a

question

Today, the loyalty of a knowledge worker to his or her employing firm has __________ compared to his or her loyalty to his or her profession and colleagues. a) increased b) remained the same c) decreased d) no correlation when

answer

c

question

Many companies use referrals by current employees as a source for new hiring and even monetarily reward them because __________________. a) it is less expensive than the fees paid to headhunters b) current employees normally are careful in recommending someone due to their personal credibility c) it is a good test of employee loyalty d) current employees are careful in their recommendations and it is less expensive than the fees paid to headhunters

answer

d

question

In social network analysis, groups can become too insular and fail to share what they have learned with people outside the group. This is a result of __________. a) bridging relationships b) intellect c) closure d) diverse knowledge

answer

c

question

The network of relationships that individuals have throughout the organization is known as _____. a) human capital b) intellectual capital c) social capital d) tacit knowledge

answer

c

question

Human capital and social capital are vital for superior firm performance. If a firm has strong human capital, the firm may exploit this by building social capital. This can be accomplished by _____. a) requiring workers to work independently of each other b) decreasing the interaction of departments within the firm c) structuring the firm with rigid departmental and employee divisions d) encouraging the sharing of ideas between employees in the firm

answer

d

question

In order to take advantage of investment in human capital, a firm should ___________. a) rotate workers through functions in the company as quickly as possible b) refrain from training individual employees c) establish practices that will enhance employee retention d) keep employees in the same position forever

answer

c

question

The creation of knowledge assets is typically characterized by ____________. a) high upfront costs and subsequent high variable costs b) high fixed costs and high variable costs c) high upfront costs and low variable costs d) low upfront costs and high variable costs

answer

c

question

Which of the following is not an example of an IP-related litigation? a) Apple and HTC sue each other based on patent infringement. b) Apple sues smartphone makers running Android, Google's mobile operating system. c) China is sued by U.S. manufacturers of video games. d) The United States sues to get access to physical plant assets in China.

answer

d

question

Human capital includes ________________. a) the relationships between people b) an individual's capabilities, knowledge, and skills c) the output from assembly line employees d) an improved product

answer

b

question

Social network analysis is helpful because the configuration of the group member social ties within and outside the group affects the extent to which members connect to individuals who do all of the following EXCEPT ______________. a) convey needed resources b) have the opportunity to exchange information and support c) ensure that everyone has the same perspective on strategic and operational issues d) have the motivation to treat each other in positive ways

answer

c

question

Firms must compete for top talent. When attracting and selecting employees, firms must strive to select the best fit for both the employee and the firm. In an effort to reduce wasted time and effort in interviewing too many candidates while assuring a good candidate pool, a firm should ____. a) run employment ads in the newspaper b) only let lower level employees interview job candidates c) use a pre-interview quiz d) refrain from hiring by referrals from present employees

answer

c

question

Attracting and retaining human capital is a challenge for many firms today. Firms experiencing high turnover should __________. a) focus on increased recruiting b) decrease money spent on human capital c) adopt effective retention strategies d) make their work environment less stimulating

answer

c

question

Creativity and problem solving ability are considered to be part of ____________. a) physical capital b) human capital c) social capital d) emotional capital

answer

b

question

Which of the following firms would you expect to have the highest ratio of market value to book value? a) Apple b) Google c) Southwest Airlines d) Nucor (steel)

answer

a

question

All of the following are the benefits of diversity in the workforce of a firm except: a) creativity argument b) problem-solving argument c) similarity in perspectives argument d) resource acquisition argument

answer

c

question

Maintaining a competitive workforce is very challenging in the current economy. The role of evaluating human capital, in recent years, has _____. a) remained the same b) decreased c) become less important d) increased

answer

d

question

Generally, employees are most likely to stay with an organization if _____________. a) the employer provides high salaries to technology professionals b) the firm is in a high tech industry c) the organization mission and values align with the employees mission and values d) the mission and values of the organization change often

answer

c

question

In the knowledge economy, if a large portion of company value is in intellectual and human assets, the difference between the market value and book value of the company should ___________ a company with mostly physical and financial assets. a) be equal to b) be larger than c) be smaller than d) not be correlated with

answer

b

question

Managing a knowledge intensive workforce is very challenging. The best way for a firm to manage its workforce is to __________. a) retain knowledge workers b) balance efforts in the attraction, selection, and retention of top talent c) attract the brightest employees d) ensure that it pays higher salaries than its rivals

answer

b

question

Social capital has downsides. Which of the following is a downside? a) High social capital may breed groupthink, that is, a tendency to question shared beliefs. b) Socialization processes is inexpensive. c) Individuals may become more willing to collaborate on joint projects. d) Social capital may both breed groupthink and the socialization processes to create it (orientation, training, etc.) can be expensive.

answer

d

question

Social capital has many potential benefits. However, according to the text, social capital _________. a) is always beneficial to a firm b) usually restricts the productivity of employees c) may or may not be beneficial to a firm d) always hurts firm performance

answer

c

question

The text discusses three areas a firm must be concerned with in order to keep their best and brightest employees from leaving. These include all of the following EXCEPT: a) hiring/selecting b) developing c) sorting/absorbing d) retaining

answer

c

question

In social network analysis, the importance of ties connecting heterogeneous people that help to ensure a wide range of diversity in information and perspective is known as ___________. a) closure b) bridging relationships c) redundancy d) social supports

answer

b

question

Dynamic capabilities include all of the following EXCEPT _________________. a) learning and innovating b) becoming more efficient in operational processes c) the ability of an organization to challenge the conventional industry in its industry and market d) continuously adopting new ways of serving the evolving needs of the market

answer

b

question

According to the text, intellectual capital is the difference between the market value and the book value of a firm. Intellectual capital can be increased by ________________. a) increasing retention of below average workers b) decreasing labor costs c) attracting and retaining knowledgeable workers d) increasing the turnover of employees

answer

c

question

The makeup of goods and services in the Gross Domestic Products of developed countries has changed over the last decade. More than 50 percent of the value of GDP of developed countries is based on _____. a) clothing and apparel b) capital accumulation c) knowledge d) financial management

answer

c

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