Question 1

Using an idea does not prevent others from simultaneously using it for their own benefit. Typically, this is impossible with ________ assets.
A) intangible
B) strong
C) physical
D) flimsy

Accepted Answer

Using an idea does not prevent others from simultaneously using it for their own benefit, which is typically impossible with physical assets. Unlike physical assets, intellectual property can be stolen by simply broadcasting it. Recall Napster and MP3 as well as the debates about counterfeit software, music CDs, and DVDs coming from developing countries such as China.

Question 2

Dynamic capabilities include ________ development, alliances, and acquisitions.
A) after-market
B) product
C) idea
D) company

Accepted Answer

Examples of dynamic capabilities include product development, strategic decision making, alliances, and acquisitions.

Question 3

Which of the following is not a dynamic capability?
A) the ability to sense and seize new opportunities
B) theability to generate new knowledge
C) the ability to reconfigure existing assets
D) the ability to submit to conventional industry and market wisdom

Accepted Answer

Dynamic capabilities refer to a company's ability to adapt and innovate in response to changing market conditions. Option D, the ability to submit to conventional industry and market wisdom, does not reflect a capability associated with adaptability or innovation.

Question 4

If financial rewards are a vital organizational control mechanism (whether in the form of salary, bonus, stock options or the like), why is paying people more seldom the most important factor in attracting and retaining human capital?

Accepted Answer

The answer of If financial rewards are a vital organizational...

Question 5

The best protection for intellectual property in the long run is likely to be the development of
A) new products.
B) stronger patents.
C) dynamic capabilities.
D) international patents.

Accepted Answer

Dynamic capabilities refer to a company's ability to continuously innovate and adapt to changing market conditions. By developing strong dynamic capabilities, a company can stay ahead of competitors and protect its intellectual property through continuous improvement and innovation. This is a more sustainable approach than relying solely on patents, which can be challenged or infringed upon. New products and international patents can also help protect intellectual property, but without strong, dynamic capabilities, a company may struggle to keep up with the fast pace of innovation in today's markets.

Question 6

Why does employee turnover matter to a company? What are some of the reasons why employees leave and what might entice the desirable potential boomerang employee to return?

Accepted Answer

The answer of Why does employee turnover matter to a...

Question 7

IP is characterized by ________ development costs and very ________ marginal costs.
A) insignificant; low
B) expensive; high
C) significant; low
D) insignificant; high

Accepted Answer

Developing intellectual property (IP) can be significant in terms of initial investment costs, but once the IP is created, the marginal costs of using or producing it are relatively low. This allows for a high potential return on investment, as the value of the IP can continue to grow while the associated costs remain low.

Question 8

A recent study by Deloitte and the Billie Jean King Leadership Initiative shows that Millennials, in general, see the concepts of diversity and inclusion as very different. What are the implications for a company in terms of culture and innovation?

Accepted Answer

The answer of A recent study by Deloitte and the...

Question 9

Protecting company intellectual property can be difficult because employees become disgruntled and patents
A) are expensive.
B) cannot be protected.
C) expire.
D) roll over.

Accepted Answer

Patents have a limited lifespan and eventually expire, making it difficult to continuously protect intellectual property. Option A is not entirely accurate because while patents may be expensive, there are other means to protect intellectual property that may be more affordable. Option B is incorrect because patents can be protected through legal means. Option D is not a relevant answer.

Question 10

Unlike ________ assets, intellectual property can be stolen by simply broadcasting it.
A) intangible
B) hidden
C) physical
D) expensive

Accepted Answer

Unlike physical assets, intellectual property can be stolen by simply broadcasting it.

Question 11

Which of the following is an IP-heavy industry?
A) automobile sales
B) telecommunications
C) contract manufacturing
D) retailing

Accepted Answer

Telecommunications is an IP-heavy industry as it requires the use of patents, trademarks and copyrights to protect the technology and innovation used in the industry.

Question 12

Intellectual property rights are ________ to define and protect than property rights for physical assets (e.g., plant, equipment, and land).
A) easier
B) more costly
C) more difficult
D) less difficult

Accepted Answer

Intellectual property rights deal with intangible assets such as ideas, inventions, and creative works. It can be difficult to define and protect these rights due to the abstract nature of the property. Moreover, it can be challenging to trace and monitor the unauthorized use of intellectual property rights, which makes it even harder to protect them.

Quiz 4: Recognizing a Firm's Intellectual Assets Moving beyond a Firm's Tangible Resources

Using an idea does not prevent others from simultaneously using it for their own benefit. Typically, this is impossible with ________ assets.

Dynamic capabilities include ________ development, alliances, and acquisitions.

Which of the following is not a dynamic capability?

If financial rewards are a vital organizational control mechanism (whether in the form of salary, bonus, stock options or the like), why is paying people more seldom the most important factor in attracting and retaining human capital?

The best protection for intellectual property in the long run is likely to be the development of

Why does employee turnover matter to a company? What are some of the reasons why employees leave and what might entice the desirable potential boomerang employee to return?

IP is characterized by development costs and very marginal costs.

A recent study by Deloitte and the Billie Jean King Leadership Initiative shows that Millennials, in general, see the concepts of diversity and inclusion as very different. What are the implications for a company in terms of culture and innovation?

Protecting company intellectual property can be difficult because employees become disgruntled and patents

Unlike ________ assets, intellectual property can be stolen by simply broadcasting it.

Which of the following is an IP-heavy industry?

Intellectual property rights are ________ to define and protect than property rights for physical assets (e.g., plant, equipment, and land) .