Chapter 4 Terms Flashcards
Intellectual Assets
Measure of value of a firms intangible assets.
Intellectual Assets examples
-Assets, customer relationships, company value, brand names, employee loyalty, and experience and skill of employees
Human Capital
Includes individual capabilities, knowledge, skills, and experience of employees and managers
Attracting Human Capital
-Hire for attitude, train for skill
-Recognize the geographical preferences of talent
-use of algorithms for selection
Development Human Capital
- Training and development must take place at all levels of organization
-Human capital assesses soft skills - 360-degree evaluation and feedback systems
Retaining Human Capital
-Retention mechanisms must prevent the transfer of valuable and sensitive info outside the organization.
Social Capital
Network of relationships that individuals have within the organization
- friendships and working relationships among talented individuals
Explicit knowledge:
Can be easily reproduced, codified, documented, and widely distributed
(Think of power points from class)
Tacit Knowledge
in minds of employees, based on experiences and knowledge
Social Network Analysis
Depicts patterns of interactions among individuals and help to diagnose effective and ineffective patterns.
S.N.A Closure Relationships
Degree to which all members of social network have relationships with other group members.
S.N.A Bridging Relationships
Relationships in a social network that connect otherwise disconnected people.
Social Capital Downsides
-Groupthink (know something is wrong, but won’t say anything against the group).
-Dysfunctional human resource practices
-Expensive socialization processes
-selection or distortion of info to favor preferred course of action
Intellectual property rights
-More difficult to define and protect
-Intellectual property can easily be stolen
-effective protection necessary before investor provides financing
Dynamic Capabilities
Capacity to anticipate, shape, and adapt to a shifting competitive landscape
