Question 1

IP is characterized by ________ development costs and very ________ marginal costs.

Accepted Answer

A)  insignificant; low 
B)  expensive; high 
C)  significant; low 
D)  insignificant; high

Question 2

The potential for ________ tends to be more prevalent in e-teams than in traditional teams because the geographic dispersion of members increases the complexity of establishing effective interaction and exchanges.

Accepted Answer

A)  team harmony 
B)  trust 
C)  process losses 
D)  profit gains

Question 3

Which of the following is not an example of an IP-related litigation?

Accepted Answer

A)  Apple and HTC sue each other based on patent infringement. 
B)  Apple sues smartphone makers running Android, the Google 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.

Question 4

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.

Accepted Answer

A) True 
 B)False

Question 5

Dynamic capabilities include ________ development,alliances,and acquisitions.

Accepted Answer

A)  after-market 
B)  product 
C)  idea 
D)  company

Question 6

Human capital includes

Accepted Answer

A)  the relationships between people. 
B)  an improved product or service. 
C)  capabilities, knowledge, and skills of an individual. 
D)  the output from assembly line employees.

Question 7

When a firm develops a knowledge asset,such as a process,pays for it and reuses it over and over at a very low cost,this adds ________ for the firm.

Accepted Answer

A)  tacit knowledge 
B)  little value 
C)  a competitive advantage 
D)  a recoverable loss

Question 8

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

Accepted Answer

A)  at top managers. 
B)  at human resource departments. 
C)  throughout the firm at all levels. 
D)  at the employees themselves.

Question 9

Software algorithms are a form of ________ that,once developed and paid for,can be reused many times at a very low cost.

Accepted Answer

A)  tacit asset 
B)  intangible asset 
C)  knowledge asset 
D)  social asset

Question 10

Knowledge workers are more loyal to their companies than traditional workers.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  increasing retention of below average workers. 
B)  attracting and retaining knowledgeable workers. 
C)  decreasing labor costs. 
D)  increasing the turnover of employees.

Question 12

Which of the following is an IP-heavy industry?

Accepted Answer

A)  automobile sales 
B)  telecommunications 
C)  contract manufacturing 
D)  retailing

Question 13

Once a knowledge asset (e.g.,a software code)is developed and paid for,it can be used many times at very low cost as long as it does not have to be substantially modified each time.

Accepted Answer

A) True 
 B)False

Question 14

Access Health,a call-in medical center,uses technology to capture and share knowledge.When someone calls the center,a registered nurse uses the company clinical decision architecture to assess the caller symptoms,rule out possible conditions,and recommend a home remedy,doctor visit,or trip to the emergency room.This is an example of using

Accepted Answer

A)  tacit knowledge. 
B)  a knowledge asset. 
C)  a non-codified asset. 
D)  groupthink.

Question 15

The management of intellectual property involves all of the following except

Accepted Answer

A)  copyrights and trademark. 
B)  contracts with confidentiality and non-compete clauses. 
C)  converting explicit knowledge to tacit knowledge. 
D)  patents.

Question 16

According to a recent Gallup study,companies with the most engaged workers outperformed those with the least engaged workers on profitability,productivity,and lower turnover.Which of the following processes is not likely to be an important factor in assuring this result?

Accepted Answer

A)  hiring 
B)  developing 
C)  engaging 
D)  retaining

Question 17

Another example of social relationships causing human capital mobility is the ________ of talent from an organization to form ________.

Accepted Answer

A)  stability; bail-outs 
B)  emigration; bail-outs 
C)  relocation; new business units 
D)  emigration; start-up ventures

Question 18

Technology can also enable much more sophisticated forms of communication in addition to knowledge sharing.

Accepted Answer

A) True 
 B)False

Question 19

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.

Accepted Answer

A)  easier 
B)  faster 
C)  harder 
D)  more reliable

Question 20

The difference between the market value and book value of a firm is its social capital.

Accepted Answer

A) True 
 B)False

Exam 4: Recognizing a Firm's Intellectual Assets: Moving Beyond a Firm's Tangible Resources

IP is characterized by development costs and very marginal costs.

The potential for ________ tends to be more prevalent in e-teams than in traditional teams because the geographic dispersion of members increases the complexity of establishing effective interaction and exchanges.

Which of the following is not an example of an IP-related litigation?

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.

Dynamic capabilities include ________ development,alliances,and acquisitions.

Human capital includes

When a firm develops a knowledge asset,such as a process,pays for it and reuses it over and over at a very low cost,this adds ________ for the firm.

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

Software algorithms are a form of ________ that,once developed and paid for,can be reused many times at a very low cost.

Knowledge workers are more loyal to their companies than traditional workers.

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

Which of the following is an IP-heavy industry?

Once a knowledge asset (e.g.,a software code)is developed and paid for,it can be used many times at very low cost as long as it does not have to be substantially modified each time.

The management of intellectual property involves all of the following except

According to a recent Gallup study,companies with the most engaged workers outperformed those with the least engaged workers on profitability,productivity,and lower turnover.Which of the following processes is not likely to be an important factor in assuring this result?

Another example of social relationships causing human capital mobility is the of talent from an organization to form .

Technology can also enable much more sophisticated forms of communication in addition to knowledge sharing.

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.

The difference between the market value and book value of a firm is its social capital.