Question 1

360-degree evaluation and feedback systems address many of the limitations of traditional approaches of evaluating human capital.

Accepted Answer

360-degree evaluation and feedback systems involve input from managers, peers, subordinates, and sometimes even external sources, offering a fuller and more comprehensive view of an employee's strengths and areas for improvement than traditional approaches that rely solely on a manager's evaluation. It allows a broader perspective of the individual being assessed and can provide insights into areas for development that are not immediately visible to the manager.

Question 2

Social capital is based on the network of relationships within a firm,not in the skills and abilities of an individual employee.

Accepted Answer

Social capital refers to the value that can be derived from relationships and connections within a group or organization, rather than just from individual skills and abilities. It is based on the belief that the strength of a group's social network can have a significant impact on its success and performance.

Question 3

CIBC Canada,in an attempt to retain employees,offers emergency babysitting services to ALL employees across Canada.

Accepted Answer

CIBC Canada offers emergency babysitting services to eligible employees, but not necessarily to all employees across Canada.

Question 4

Companies have found that referrals from their own employees are generally an ineffective approach to recruiting top talent.

Accepted Answer

Referrals from employees can be a very effective approach to recruiting top talent, as employees may have personal connections with individuals who would be a good fit for the company. Many companies have implemented referral programs and incentivize their employees to refer candidates.

Question 5

Knowledge workers are more loyal to their companies than traditional workers.

Accepted Answer

There is no evidence to suggest that knowledge workers are more loyal than traditional workers. In fact, some studies suggest that knowledge workers may be more likely to switch jobs in order to pursue new opportunities or better working conditions.

Question 6

Human capital consists of the "individual capabilities".

Accepted Answer

Human capital refers to the knowledge, skills, and abilities possessed by individuals, which can be used to create economic value. Therefore, it can be described as individual capabilities.

Question 7

The text suggests that talented professionals are typically most concerned about financial rewards.Money is the top reason why such employees take or leave jobs.

Accepted Answer

The text does not make a statement about whether talented professionals are most concerned about financial rewards or not. Therefore, we cannot assume that money is the top reason why they take or leave jobs.

Question 8

Technical skill is a necessary and sufficient condition for hiring an employee.

Accepted Answer

While technical skill is an important factor, it is not the only consideration in hiring an employee. Soft skills, cultural fit, and other qualities may also be important depending on the specific job and workplace.

Question 9

In most effective evaluation and reward systems employees only receive evaluation and feedback from their immediate supervisor.

Accepted Answer

As organizations continue to push responsibility downward, traditional top-down appraisal systems become insufficient. To address the limitations of the traditional approach, many organizations use 360-degree evaluation and feedback systems. Here, superiors, direct reports, colleagues, and even internal and external customers rate the performance of a person.

Question 10

One possible negative outcome of building social capital in an organization is "groupthink"-a tendency not to question shared beliefs.

Accepted Answer

Building social capital in an organization can lead to greater cohesion and trust among members, but it can also lead to a type of thinking where individuals prioritize maintaining group harmony over questioning or challenging shared beliefs or strategies. This phenomenon is known as groupthink and can stifle creativity, innovation, and critical thinking within the group.

Question 11

Social capital is found in the knowledge,skills,and abilities of individual employees.

Accepted Answer

Social capital development (the friendships and working relationships among talented individuals) gains importance when key players are free agents, because it helps tie knowledge workers to a given firm.

Question 12

Solectron invests time and resources in training employees annually because technology changes so fast that 20% of an engineer's knowledge becomes obsolete each year.

Accepted Answer

Solectron invests in annual employee training because technology changes rapidly, with 20% of an engineer's knowledge becoming obsolete each year.

Question 13

Attracting top talent is a challenge for many organizations.In today's economy,knowledge workers typically have multiple possible employment opportunities.

Accepted Answer

In today's economy, knowledge workers have skills and expertise that are in high demand, making them valuable and sought after by multiple organizations. This makes it a challenge for organizations to attract and retain top talent.

Question 14

Encouraging widespread involvement is one of the important ways of developing human capital.

Accepted Answer

Encouraging widespread involvement in education, training, and other developmental activities can help to develop human capital by equipping more people with skills and knowledge that can be applied in the workforce and in other areas of life.

Question 15

Developing social capital is risky for an organization because social capital is specific to individuals and remains with the employee if he or she leaves the organization.

Accepted Answer

Social capital development (the friendships and working relationships among talented individuals) gains importance when key players are free agents because it helps tie knowledge workers to a given firm.

Question 16

BC Biomedical Laboratory was named one of Canada's "Best Employers" for the third year running.

Accepted Answer

The statement indicates that BC Biomedical Laboratory was named as one of Canada's "Best Employers" for three consecutive years.

Question 17

Creation of new knowledge typically involves the continual interaction of explicit and tacit knowledge.

Accepted Answer

The creation of new knowledge often involves the combination and interaction of both explicit and tacit knowledge. Explicit knowledge is information that can be easily documented, codified, and shared, while tacit knowledge is subjective, experiential knowledge that is often difficult to articulate and transfer to others. Successful knowledge creation requires both types of knowledge to be exchanged and integrated in a collaborative environment.

Question 18

The most effective method of improving a firm's retention of top talent is to intensify its hiring efforts.

Accepted Answer

Intensifying hiring efforts may attract top talent, but it does not necessarily address the reasons why top talent may be leaving the company. To improve retention, a firm should focus on creating a positive work environment, offering competitive compensation and benefits, providing opportunities for growth and development, and providing regular feedback and recognition to employees.

Question 19

Once a knowledge asset (e.g.,software)is developed and paid for,it can be used many times at very low cost as long as it doesn't have to be substantially modified each time.

Accepted Answer

Once a knowledge asset is developed and paid for, it can be used multiple times at a low cost as long as it doesn't require significant modifications each time.

Question 20

Rather than focus solely on financial considerations,many firms offer attractive benefits to entice employees to stay.These may include on-site stores,ATM's and athletic facilities.

Accepted Answer

The statement mentions that firms offer benefits such as on-site stores, ATM's, and athletic facilities to retain employees, instead of just financial incentives.

Quiz 4: Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources