Data vs Information Quiz
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According to the resource-based view of the firm, what are the conditions for knowledge to be considered strategic assets?

  • It is common, it cannot add value, it can be replaced, it can be imitated
  • It is common, it can add value, it cannot be replaced, it cannot be imitated
  • It is rare, it cannot add value, it can be replaced, it can not be imitated
  • It is rare, it can add value, it can not be replaced, it can not be imitated (correct)

    • What is one of the reasons for the need to manage knowledge in today’s organization?

  • Expansion of the work force
  • Increasing staff retention
  • Rising rate of innovation (correct)
  • Decreasing competition

    • How do reductions in staffing create a need to replace informal knowledge with formal methods?

  • By decreasing the need for formal methods
  • By promoting informal knowledge over formal methods
  • By increasing the availability of informal knowledge
  • By reducing the size of the work force that holds valuable business knowledge (correct)

    • What effect do competitive pressures have on the work force that holds valuable business knowledge?

    <p>Decrease its size</p> Signup and view all the answers

    What impact do early retirements and increasing mobility of the work force have on knowledge in organizations?

    <p>Lead to loss of knowledge</p> Signup and view all the answers

    Why might changes in strategic direction result in the loss of knowledge in a specific area?

    <p>Because valuable business knowledge may become obsolete or irrelevant</p> Signup and view all the answers

    What form does tacit knowledge take?

    <p>Values, ideas, beliefs, insight, and innovation</p> Signup and view all the answers

    Which type of knowledge is considered more significant as a source for innovation and competitive advantage?

    <p>Tacit knowledge</p> Signup and view all the answers

    What is an expert in a specialized area recognized for?

    <p>Mastering the requisite knowledge</p> Signup and view all the answers

    What is deductive reasoning based on?

    <p>Reasoning from generalities to specific cases</p> Signup and view all the answers

    Which statement best describes inductive reasoning?

    <p>Reasoning from a set of facts to a general conclusion</p> Signup and view all the answers

    What is learning by discovery characterized by?

    <p>Undirected approach with no advance knowledge of the objective</p> Signup and view all the answers

    What does learning by doing represent?

    <p>The most efficient model of learning</p> Signup and view all the answers

    Which type of knowledge can be found in the form of rules, policies, procedures, researches, and manuals?

    <p>Explicit knowledge</p> Signup and view all the answers

    What is the unique performance of an expert clearly recognized in?

    <p>Decision-making quality</p> Signup and view all the answers

    What is the main focus of knowledge management (KM)?

    <p>Organizing and making available important knowledge</p> Signup and view all the answers

    What are some benefits of knowledge management to individuals and organizations?

    <p>Improving knowledge embedded in products and services</p> Signup and view all the answers

    What concept introduced by Senge is strongly related to knowledge management?

    <p>Learning Organization (LO)</p> Signup and view all the answers

    How does knowledge management benefit organizations in relation to competition?

    <p>Builds organizational memory to stay ahead of the competition</p> Signup and view all the answers

    What is the role of Human Resource Management (HRM) in the field of knowledge management?

    <p>Providing job autonomy and flexibility for knowledge workers</p> Signup and view all the answers

    What is the main impact of technology development on knowledge management?

    <p>Enables global sharing of information across different countries</p> Signup and view all the answers

    What is the significance of knowledge discovery & creating systems in Knowledge Management Systems (KMS)?

    <p>Encourages and stimulates the ability of employees to develop new knowledge</p> Signup and view all the answers

    What is the difference between data and information?

    <p>Data is unorganized facts, while information is a set of discrete facts about events</p> Signup and view all the answers

    'Learning Organization (LO)' introduced by Senge focuses on:

    <p>Continually expanding people's capacity to create the results they desire</p> Signup and view all the answers

    'Intellectual Capital (IC)' movement focuses on:

    <p>'The importance measurement of knowledge'</p> Signup and view all the answers

    Which of the following best describes 'data'?

    <p>An Excel spreadsheet with questionnaire data on MBA students</p> Signup and view all the answers

    What type of knowledge is related to having information about facts and state of things?

    <p>Know-what</p> Signup and view all the answers

    Which type of knowledge resides in the human mind, behavior, and perception?

    <p>Tacit knowledge</p> Signup and view all the answers

    What does explicit knowledge refer to?

    <p>Knowledge that is transmittable in formal, systematic language</p> Signup and view all the answers

    According to the text, which statement best describes 'information'?

    <p>The latest figures on unemployment</p> Signup and view all the answers

    According to Polanyi 1966 and Nonaka and Takeuchi (1995), what are the most famous categories of knowledge?

    <p>Tacit knowledge &amp; System understanding</p> Signup and view all the answers

    Which type of knowledge is related to having the ability to apply rules of a discipline to complex real-world problems?

    <p>&quot;Advanced skills&quot;</p> Signup and view all the answers

    What type of knowledge involves extensive training and certification?

    <p>&quot;Cognitive knowledge&quot;</p> Signup and view all the answers

    "Innovative knowledge" falls under which type of classification according to the text?

    <p>The innovative knowledge</p> Signup and view all the answers

    What happened when you shared your colleagues' knowledge?

    <p>Classification of “knowledge”</p> Signup and view all the answers

    What is the aim of negotiation?

    <p>To reach a beneficial outcome for all parties involved</p> Signup and view all the answers

    Which type of negotiation approach tends to resemble haggling in a market?

    <p>Distributive Negotiation</p> Signup and view all the answers

    What is a major factor in determining the success of negotiations?

    <p>The degree of trust between the negotiating parties</p> Signup and view all the answers

    In what type of negotiation is there a focus on creating value for all parties involved?

    <p>Integrative Negotiation</p> Signup and view all the answers

    What is the impact of non-cooperation on negotiation?

    <p>Negotiation will fail</p> Signup and view all the answers

    What does negotiation aim to resolve?

    <p>Points of difference</p> Signup and view all the answers

    In integrative negotiation, what is the main focus?

    <p>Creating value during the negotiation</p> Signup and view all the answers

    What is the primary characteristic of individuals who are accommodators in negotiations?

    <p>They enjoy solving the other party's problems and preserving personal relationships</p> Signup and view all the answers

    What is a primary strategy for ending the negotiation cycle?

    <p>Anchor your offer, make the first offer, and request a high precise range</p> Signup and view all the answers

    What is the first step in the negotiation process according to the text?

    <p>Determine goals clearly</p> Signup and view all the answers

    What is a potential downside of competitive negotiators' style according to the text?

    <p>Neglecting importance of relationships</p> Signup and view all the answers

    What is the main purpose of Win-Win negotiating according to the text?

    <p>To state ideal outcomes and then split the difference</p> Signup and view all the answers

    What characterizes individuals who are avoiding negotiators according to the text?

    <p>They defer and dodge confrontational aspects of negotiating</p> Signup and view all the answers

    What should skilled negotiators spend more time doing according to the text?

    <p>Preparing for negotiations by gathering information and setting objectives</p> Signup and view all the answers

    What should negotiators specify in the first step of the negotiation process according to the text?

    <p>Goals and objectives clearly</p> Signup and view all the answers

    What characteristic must negotiators exhibit to encourage cooperative behavior during negotiations according to the text?

    <p>Avoiding negotiation terminology and scheduling future interactions</p> Signup and view all the answers

    What is one appropriate strategy for demonstrating power during negotiations according to the text?

    <p>Mentioning your BATNAs and avoiding disclaimers</p> Signup and view all the answers

    What is an essential strategy for minimizing concessions during negotiations according to the text?

    <p>Rank ordering the terms</p> Signup and view all the answers

    What is the LIM Model used for in negotiation?

    <p>Identifying most favored, expected, and bottom line outcomes</p> Signup and view all the answers

    What is a key characteristic of successful negotiators during the negotiation stage?

    <p>Asking twice the number of questions and spending over twice the amount of time acquiring and clarifying information</p> Signup and view all the answers

    What does the term BATNA refer to in negotiation?

    <p>Best alternative to a negotiated agreement</p> Signup and view all the answers

    What should negotiators aim to understand and work to improve?

    <p>Their Best Alternative to a Negotiated Agreement (BATNA)</p> Signup and view all the answers

    What is the primary focus of the Win-Win negotiating principle?

    <p>Establishing a friendly climate of mutual interests and trust</p> Signup and view all the answers

    What does the competitive opening stance in negotiation prioritize?

    <p>Raising the costs of delay to the other party</p> Signup and view all the answers

    What should negotiators aim to set clearly during negotiations?

    <p>The walk away point and alternative(s)</p> Signup and view all the answers

    What is an important aspect of effective negotiation that involves managing the other party's impressions?

    <p>Modifying the other party's perceptions/Understanding</p> Signup and view all the answers

    What is a characteristic strategy for managing the commitment process in negotiation?

    <p>&quot;This is all I can do&quot; final offers</p> Signup and view all the answers

    What is expected behavior related to individuals' demeanor in negotiation?

    <p>Being respectful of other people's values</p> Signup and view all the answers

    What type of knowledge is considered more significant as a source for innovation and competitive advantage?

    <p>Tacit knowledge</p> Signup and view all the answers

    What concept does Senge's 'Learning Organization (LO)' focus on?

    <p>Knowledge management (KM)</p> Signup and view all the answers

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