Exam 11: Managing Knowledge

Explicit knowledge is developed through experience and depends on an individual or group's insight and intuition. It is more difficult to transfer to others and often requires interactive experience.

Public knowledge can be protected from others, and includes a firm's unique routines, processes, documentation and trade secrets.

Knowledge is the only asset that can help a firm adapt to radical change as markets shift, uncertainty dominates and technologies proliferate.

Which of the following is not an example of organizational memory?

_____________ knowledge is shared among individuals and is more compelling and more likely to be used than __________ knowledge.

Externalization occurs as employees translate tacit knowledge into more explicit knowledge that can be more readily shared.

Intellectual property rights are knowledge resources that can be legally protected and thus potentially used as a competitive advantage.

Knowledge management is an organization's ability to acquire, integrate, share and apply knowledge resources for sustainable advantage.

A learning organization is able to create, acquire, interpret, transfer and retain knowledge to purposefully improve the value they create.

Knowledge-intensive industries represent _____ percent of developed countries GDP.

People with a bachelor's degree earn $25,000 a year more than people with a high school diploma, and the gap has been increasing over time.

The company Nucor famously revolutionized which industry by reducing the labour to produce one ton down from 3-4 hours to 45 minutes?

Social capital theory is concerned with an individual's position in a social network of relationships and the resources embedded in, available through, or derived from these networks.

Firms should position themselves strategically based on their products and services rather than on the unique and valuable resources and capabilities from which they are derived.

Accenture is an example of a firm with a well-developed knowledge management strategy.

Imagine you have recruited a new member to your team at work. What formal and informal means would you use to share tacit and explicit knowledge? Provide examples.

Which of the following is not true about human capital theory?

_______________ describes the experience-sharing process of conveying tacit knowledge from one person to another, whereby a more experienced individual communicates mental models, technical skills, and other tacit knowledge.

What resource is generally considered to be the most unique and most likely to create sustained advantage?

What are the four essential knowledge management processes? What are some ways to facilitate each?