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69.
Explicit knowledge is generally known to everyone in the firm and is not a critical concern of
management.
70.
Most of the interactions among members of e-teams occur through electronic communication channels
such as fax machines and groupware tools such as email, bulletin boards, chat, and videoconferencing.
71.
E-teams do not have the potential to acquire a broader range of human capital or the skills and
capacities that are necessary to complete complex assignments.
72.
Given the narrower boundaries associated with e-teams, members and leaders generally have limited
access to a wider range of social contacts than would be typically available in more traditional face-to-
face teams.
73.
Process losses prevent teams from reaching high levels of performance because of inefficient interaction
dynamics among team members.
74.
The potential for process losses tends to be less prevalent in e-teams than in traditional teams because
the geographic dispersion of members increases the complexity of establishing effective interaction and
exchanges.
75.
Generally, teams suffer process loss because of low cohesion, low trust among members, a lack of
appropriate norms or standard operating procedures, or a lack of shared understanding among team
members about their tasks.
76.
One of the challenges of knowledge-intensive organizations is to capture and codify the knowledge and
experience that, in effect, resides in the heads of its employees. This is known as explicit knowledge.
77.
At Accenture, the knowledge of its consultants has been codified and stored in electronic repositories
and, therefore, cannot be employed in many jobs by their huge number of consultants.
78.
When an organization tries to improve cycle times in a manufacturing process, it finds far more value in
problem solving shaped by the diverse experiences, perspectives, and learning of a tightly knit team
(shared through knowledge flows) than in a training manual (knowledge stocks) alone.
79.
Intellectual property rights are easier to define and protect than property rights for physical assets (e.g.,
plant and equipment).
80.
The management of intellectual property (IP) involves, besides patents, contracts with confidentiality
and non-compete clauses, copyrights, and the development of trademarks.
81.
Intellectual property rights are the tangible property owned by a firm.
82.
Developing dynamic capabilities is not the only avenue providing firms with the ability to reconfigure
their knowledge and activities to achieve a sustainable competitive advantage.
83.
The state must protect intellectual property rights reliably for companies to continue developing new
products and services.
84.
IP is characterized by significant development costs and very high marginal costs. It may take a
substantial investment to develop a software program, an idea, or a digital music tune.
85.
Dynamic capabilities include the ability to sense and seize new opportunities, generate new knowledge,
and reconfigure existing assets and capabilities.
86.
Dynamic capabilities are about the ability of an organization to challenge the non-conventional wisdom
within its industry and market.
87.
Examples of dynamic capabilities include product development, strategic decision making, alliances,
and acquisitions.
88.
Cisco Systems has made numerous acquisitions over the years. The combination of the resources of the
acquired companies and their reconfiguration that Cisco has already achieved reduces its competitive
advantage.
89.
As markets become increasingly dynamic, traditional sources of long-term competitive advantage
become more relevant.
90.
Dynamic capabilities do not allow a firm to create a series of temporary advantages through new
resource configurations.
91.
Unlike physical assets, intellectual property cannot be stolen by simply broadcasting it.
Multiple Choice Questions
92.
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
93.
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
94.
Changes in our economy have forced firms to be ____________ concerned with protecting their
knowledge workers, social capital, and intellectual capital.
95.
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.
96.
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
97.
Which of the following firms would you expect to have the highest ratio of market value to book value?
98.
Human capital includes
99.
Creativity and problem solving ability are considered to be part of _________ capital.
100.
The network of relationships that individuals have throughout the organization is known as
101.
Tacit knowledge
102.
New knowledge involves the continual interaction between __________ and __________ knowledge.
103.
Two software engineers working together on a computer code share their _______ knowledge in order
to create new knowledge.
104.
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.
105.
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
106.
Managing a knowledge intensive workforce is very challenging. The best way for a firm to manage its
workforce is to
107.
Firms must compete for top talent. In 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
108.
Many companies use referrals by current employees as a source for new hiring and even monetarily
reward them because
109.
QFQ, Incorporated desires to have the most qualified people in every position throughout its
organization. This is an example of a concern for
110.
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
111.
Maintaining a competitive workforce is very challenging in the current economy. The role of evaluating
human capital, in recent years, has
112.
In a 360-degree evaluation and feedback system, which of these does not rate the skills and performance
of an individual?
113.
Attracting and retaining human capital is a challenge for many firms today. Firms experiencing high
turnover should
114.
In order to take advantage of investment in human capital, a firm should
115.
The least effective way to retain human capital is to
116.
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
117.
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
118.
What is a major reason for Nokia to lose its competitive edge in the cell phone business?
119.
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 the
120.
Another example of social relationships causing human capital mobility is the _______ of talent from
an organization to form __________.
121.
Professionals frequently leave Microsoft en masse to form venture capital and technology start-ups,
called Baby Bills, built around teams of software developers. This is an example of ____________
causing human capital mobility.
122.
According to the resource-based view of the firm, competitive advantages are ______ for competitors to
copy, if they are based on unique bundles of resources.
123.
If employees are working effectively in teams and sharing their knowledge and learning from each
other, they will be ________ to add value to the firm and they also will be ________ to leave the
organization, because of the loyalties and social ties that they develop over time.
124.
Knowledge-based resources tend to be more ______ in nature and therefore they are ________ difficult
to protect against loss (i.e., the individual quitting the organization) than other types of capital, such as
equipment, machinery, and land.
