65 Questions
According to the resource-based view of the firm, what are the conditions for knowledge to be considered strategic assets?
It is rare, it can add value, it can not be replaced, it can not be imitated
What is one of the reasons for the need to manage knowledge in today’s organization?
Rising rate of innovation
How do reductions in staffing create a need to replace informal knowledge with formal methods?
By reducing the size of the work force that holds valuable business knowledge
What effect do competitive pressures have on the work force that holds valuable business knowledge?
Decrease its size
What impact do early retirements and increasing mobility of the work force have on knowledge in organizations?
Lead to loss of knowledge
Why might changes in strategic direction result in the loss of knowledge in a specific area?
Because valuable business knowledge may become obsolete or irrelevant
What form does tacit knowledge take?
Values, ideas, beliefs, insight, and innovation
Which type of knowledge is considered more significant as a source for innovation and competitive advantage?
Tacit knowledge
What is an expert in a specialized area recognized for?
Mastering the requisite knowledge
What is deductive reasoning based on?
Reasoning from generalities to specific cases
Which statement best describes inductive reasoning?
Reasoning from a set of facts to a general conclusion
What is learning by discovery characterized by?
Undirected approach with no advance knowledge of the objective
What does learning by doing represent?
The most efficient model of learning
Which type of knowledge can be found in the form of rules, policies, procedures, researches, and manuals?
Explicit knowledge
What is the unique performance of an expert clearly recognized in?
Decision-making quality
What is the main focus of knowledge management (KM)?
Organizing and making available important knowledge
What are some benefits of knowledge management to individuals and organizations?
Improving knowledge embedded in products and services
What concept introduced by Senge is strongly related to knowledge management?
Learning Organization (LO)
How does knowledge management benefit organizations in relation to competition?
Builds organizational memory to stay ahead of the competition
What is the role of Human Resource Management (HRM) in the field of knowledge management?
Providing job autonomy and flexibility for knowledge workers
What is the main impact of technology development on knowledge management?
Enables global sharing of information across different countries
What is the significance of knowledge discovery & creating systems in Knowledge Management Systems (KMS)?
Encourages and stimulates the ability of employees to develop new knowledge
What is the difference between data and information?
Data is unorganized facts, while information is a set of discrete facts about events
'Learning Organization (LO)' introduced by Senge focuses on:
Continually expanding people's capacity to create the results they desire
'Intellectual Capital (IC)' movement focuses on:
'The importance measurement of knowledge'
Which of the following best describes 'data'?
An Excel spreadsheet with questionnaire data on MBA students
What type of knowledge is related to having information about facts and state of things?
Know-what
Which type of knowledge resides in the human mind, behavior, and perception?
Tacit knowledge
What does explicit knowledge refer to?
Knowledge that is transmittable in formal, systematic language
According to the text, which statement best describes 'information'?
The latest figures on unemployment
According to Polanyi 1966 and Nonaka and Takeuchi (1995), what are the most famous categories of knowledge?
Tacit knowledge & System understanding
Which type of knowledge is related to having the ability to apply rules of a discipline to complex real-world problems?
"Advanced skills"
What type of knowledge involves extensive training and certification?
"Cognitive knowledge"
"Innovative knowledge" falls under which type of classification according to the text?
The innovative knowledge
What happened when you shared your colleagues' knowledge?
Classification of “knowledge”
What is the aim of negotiation?
To reach a beneficial outcome for all parties involved
Which type of negotiation approach tends to resemble haggling in a market?
Distributive Negotiation
What is a major factor in determining the success of negotiations?
The degree of trust between the negotiating parties
In what type of negotiation is there a focus on creating value for all parties involved?
Integrative Negotiation
What is the impact of non-cooperation on negotiation?
Negotiation will fail
What does negotiation aim to resolve?
Points of difference
In integrative negotiation, what is the main focus?
Creating value during the negotiation
What is the primary characteristic of individuals who are accommodators in negotiations?
They enjoy solving the other party's problems and preserving personal relationships
What is a primary strategy for ending the negotiation cycle?
Anchor your offer, make the first offer, and request a high precise range
What is the first step in the negotiation process according to the text?
Determine goals clearly
What is a potential downside of competitive negotiators' style according to the text?
Neglecting importance of relationships
What is the main purpose of Win-Win negotiating according to the text?
To state ideal outcomes and then split the difference
What characterizes individuals who are avoiding negotiators according to the text?
They defer and dodge confrontational aspects of negotiating
What should skilled negotiators spend more time doing according to the text?
Preparing for negotiations by gathering information and setting objectives
What should negotiators specify in the first step of the negotiation process according to the text?
Goals and objectives clearly
What characteristic must negotiators exhibit to encourage cooperative behavior during negotiations according to the text?
Avoiding negotiation terminology and scheduling future interactions
What is one appropriate strategy for demonstrating power during negotiations according to the text?
Mentioning your BATNAs and avoiding disclaimers
What is an essential strategy for minimizing concessions during negotiations according to the text?
Rank ordering the terms
What is the LIM Model used for in negotiation?
Identifying most favored, expected, and bottom line outcomes
What is a key characteristic of successful negotiators during the negotiation stage?
Asking twice the number of questions and spending over twice the amount of time acquiring and clarifying information
What does the term BATNA refer to in negotiation?
Best alternative to a negotiated agreement
What should negotiators aim to understand and work to improve?
Their Best Alternative to a Negotiated Agreement (BATNA)
What is the primary focus of the Win-Win negotiating principle?
Establishing a friendly climate of mutual interests and trust
What does the competitive opening stance in negotiation prioritize?
Raising the costs of delay to the other party
What should negotiators aim to set clearly during negotiations?
The walk away point and alternative(s)
What is an important aspect of effective negotiation that involves managing the other party's impressions?
Modifying the other party's perceptions/Understanding
What is a characteristic strategy for managing the commitment process in negotiation?
"This is all I can do" final offers
What is expected behavior related to individuals' demeanor in negotiation?
Being respectful of other people's values
What type of knowledge is considered more significant as a source for innovation and competitive advantage?
Tacit knowledge
What concept does Senge's 'Learning Organization (LO)' focus on?
Knowledge management (KM)
Test your knowledge about the differences between data and information with this quiz. Explore the concepts of aggregation, interpretation, and decision making in relation to data and information.
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