chap 7: stategic asset management

Question 1

These properties may be products of purposive research like outcomes of a person’s ingenuity, brilliance, and creativity, or may just be discovered accidentally,

Answer 1

ip assets

Question 2

referring to all types of information. technical or otherwise, like organizational philosophy. programs strategies, processes financial data. transaction lata, and lists of customers and suppliers.

Answer 2

• Trade secrets

Question 3

, organized Information in the form of operating systems, utilities, programs, and applications that enable computers to work.

Answer 3

• Software

Question 4

that control the basic functions of a computer

Answer 4

system software

Question 5

that handle common and specific tasks like word processing and others.

Answer 5

and application software

Question 6

also include all programmed manuals, operational methodologies, and techniques. instructions.

Answer 6

Software

Question 7

When an organization possesses intellectual property assets, the entity is said to have created a competitive edge called

Answer 7

organizational monopoly.

Question 8

This allows organizations to enjoy low-cost leadership and increase its competitive strength.

Answer 8

organizational monopoly.

Question 9

It safeguards corporate assets by providing a legal mechanism for brand protection protection of trade secrets by non-disclosure agreements and provision for Patents and copyrights

Answer 9

organizational monopoly.

Question 10

are strengths of organizations that consist of collective “expertise,” personal traits, creative and problem-solving capabilities. managerial, entrepreneurial. cornpetency asset skills, and organizational human-centered assets,

Answer 10

• Human resource assets

Question 11

Possession of human resource assets creates both leverage and a competitive edge. An organization greatly benefits from ownership of these assets.

Answer 11

human resource management

Question 12

A fusion and symbiotic interplay of impressive educational attainment, unique and cutting-edge professional competence, relevant and “intelligent” environmental knowledge, creative and highly differentiated work-related knowledge. and an inclusive and objective historical knowledge will no doubt put an organization in the forefront.

Answer 12

human resource leverage

Question 13

cơn create a convergent Impact on the organization. Traits like transformational leadership, ingenuity, first- rate problem-solving capabilities, sustained energy, and attributes like adaptability. proactivity, initiative, industry, and integrity can impact organizational temperament and nurture a climate of enthusiasm and drive.

Answer 13

. Good personal qualities - human resource management

Question 14

shore up effectiveness and organizational success, thus creating comparative advantage in relation to other organizations.

Answer 14

Managerial, entrepreneurial, and competency asset skills - . human resource leverage

Question 15

like the presence of employees with “high” emotional quotients, synergy, and employee involvement open more windows to organizational opportunity. realization, and achievement.

Answer 15

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Organizational human-centered assets - human resource leverage

Question 16

are results of market-related intangibles such as brands, company names, customer loyalty, repeat business, distribution channels, contracts, and agreements

Answer 16

Market assets

Question 17

Brands are considered as effective means to attain _. Marketing experts believe that if a product or service is not a recognized brand, then it is not a commodity after all. Many organizations do carry brand names but they do not necessarily create market dominance Brand names that promote substantial sales considered market assets. are

Answer 17

market supremacy - market assets

Question 18

helps organizations attain a bigger market share. It is a result of the intimate relationship between the customer and the supplier and is characterized by sustained concern and support, Support may be in the form of financial, technical, marketing, and managerial assistance.

Answer 18

. Customer loyalty

Question 19

is a by-product of customer loyalty. Suppliers who have nurtured a degree of affinity and intimacy with their customers create a unique form of market advantage. There is an assurance of continuing Customer loyalty and mutually profitable collaboration.

Answer 19

• Repeat business

Question 20

result from efficient and well-organized modes of bringing goods and services to the public They minimize scheduling and transportation costs on the one hand, and optimize market sales on the olher hand in both cases, the sum of the market asset benefits is heightened

Answer 20

Increased product and service sales

Question 21

include positive organizational features like structure, managernent philosophy, organizational culture, high involvement practices, quality standards, and technology

Answer 21

Infrcistructure assets

Question 22

is considered an infrastructure asset when a flat framework is able to beneficially lessen bureaucracy, streamline job tasks, and simplify mode of administration.

Answer 22

A lean organizational structure

Question 23

practices typified by high involvement reinforce competitiveness and are further enhanced when the organization faithfully adopts quality standards. They are likewise regarded as infrastructure assets.

• Technology. being the application of knowledge, is orogd in scope and perspective. Its applications are in the fields of agriculture, business, science, and education, among others. It is an infrastructure asset when its impact produces phenomenal outcomes.

Answer 23

infrastructure asset - Managerial and functional work

Question 24

. being the application of knowledge, is orogd in scope and perspective. Its applications are in the fields of agriculture, business, science, and education, among others. It is an infrastructure asset when its impact produces phenomenal outcomes.

Answer 24

infrastructure asset - Technology

Question 25

Possession of infrastructure assets brings about a _ to organizations.

Answer 25

Comparative Advantage

Question 26

makes communication between management and employees easier because it eliminates bureaucracy. As a result, job tasks and projects are completed faster.

Answer 26

Comparative Advantage - A streamlined organizational structure

Question 27

aptly create infrastructure advantage.

Answer 27

Comparative Advantage - Organizational cultures

Question 28

With high involvement work practices, managerial and functional processes that are guided by quality management systems, the organization inevitably possesses intellectual capital.

Answer 28

Comparative Advantage

Question 29

As the principal catalyst of change, information technology has brought about radical transformations in the global skyline. Its impact and influence are greatly felt in every facet of life.

Answer 29

Comparative Advantage

Question 30

Considered as pillars of effective competitive asset management, three distinct but interrelated approaches are competency learning, strategic enhancement, and competitive innovation.

Answer 30

asset management strategy

Question 31

is a hecessary tool for the actualization of organizational plans and the Implementation of strategies

Answer 31

Competency

Question 32

It puts emphasis on evaluation and accountability of performance.

Answer 32

Competency Learring: “Laying the Groundwork

Question 33

It is essential in the attainment of optimum productivity.

Answer 33

Competency Learring: “Laying the Groundwork

Question 34

Another facet of successful intellectual capital management is strategic enhancement.

Answer 34

Strategic Enhancement: “Widening the Horizon”

Question 35

Given a dynamic environment where product cycles are shorter and where the need to be efficient and cost-effective has never been that critical, organizations of today have no other alternative but to be uniquely knowledgeable to survive and compete.

Answer 35

Strategic Enhancement: “Widening the Horizon”

Question 36

The term innovation is the best assurance to achieving business sustainability, competitive advantage, and consequently, creating bargaining power.

Answer 36

Competitive Innovation: “Creating Bargaining Power