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Exam 4: Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

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Question 51

True/False

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Examples of dynamic capabilities include product development, strategic decision making, alliances, and acquisitions.

A) True
B) False

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Question 52

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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.

E) A) and D)
F) B) and C)

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Question 53

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With the _________ lever, the emphasis is on getting the right people to collaborate on the right projects.

One potential downside of building social capital in an organization is groupthink. This means everyone in the group thinks on his or her own and comes up with new ideas.

An internal work opportunity market for employees is one means of increasing employee retention.

When Michael Reene left Andersen Consulting, eventually he joined Third Millennium as CEO with a small salary and 20 percent ownership position. He brought others with him, who brought others with them. This was possible because of the Pied Piper effect.

In most effective evaluation and reward systems employees only receive evaluation and feedback from their immediate supervisor.

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

Hiring organizations can be amorphous, distant and threatening entities and therefore detractors for knowledge workers.

Tying knowledge workers to a firm is part of the objective of the development of

Closure, in contrast to bridging relationships, stresses the importance of ties connecting heterogeneous people.

As markets become increasingly dynamic, traditional sources of long-term competitive advantage become more relevant.

Unlike ______ assets, intellectual property can be stolen by simply broadcasting it.

The __________, __________, and __________ talent is a necessary but not sufficient condition for creating competitive advantages.

A hiring agent offers a scientist approximately the same salary, facilities, equipment, and shared laboratory with 10 highly skilled and enthusiastic scientists. Part of the job is to collaborate with these peers and jointly develop promising drug compounds. This structure will create greater firm loyalty than one in which the hiring agent offers only monetary compensation.

Effective collaboration requires overcoming four barriers: the not-invented-here barrier, the hoarding barrier, the search barrier, and the place-setter barrier.

Process losses prevent teams from reaching high levels of performance because of inefficient interaction dynamics among team members.

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.

Managing a knowledge intensive workforce is very challenging. The best way for a firm to manage its workforce is to

The gap between company market value and book value is far greater for knowledge-intensive corporations than for firms with strategies based primarily on intangible assets.