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MGT 300 Spring 2010 Week 08

MGT 300 Spring 2010 Week 08 - Intellectual...

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Intellectual Assets (Dess-Lumpkin-Eisenr Chapter 4) MGT 300 Week 8 March 10
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4- 2 Learning Objectives After reading this chapter, you should have a good understanding of: - Why the management of knowledge professionals and knowledge itself are so critical in today’s organizations. - The importance of recognizing the interdependence of attracting, developing and retaining human capital. - The key role of social capital in leveraging human capital within and across the firm.
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4- 3 Learning Objectives After reading this chapter, you should have a good understanding of: - The importance of social networks in knowledge management and in promoting career success. - Why teams are critical in combining and leveraging knowledge in organizations and how they can be made more effective.
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4- 4 Learning Objectives After reading this chapter, you should have a good understanding of: - The vital role of technology in leveraging knowledge and human capital. - How technology can help to retain knowledge even when employees cannot be retained by the organization.
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4- 5 Learning Objectives After reading this chapter, you should have a good understanding of: - The challenge of protecting intellectual property and the importance of a firm’s dynamic capabilities. - How leveraging human capital is critical to strategy formulation at the business, corporate, international, and Internet levels.
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4- 6 Ratio of Market Value to Book Value for Selected Companies Exhibit 4.1 Ratio of Market Value to Book Value for Selected Companies
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4- 7 The Central Role of Knowledge in Today’s Economy Creation of wealth in a knowledge economy - Effective management of knowledge workers - Intellectual capital - Assets such as Reputation Employee loyalty and commitment Customer relationships Company values Brand names Experience and skills of employees
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4- 8 The Central Role of Knowledge in Today’s Economy How do companies create value in the knowledge- intensive economy? - Human capital (individual capabilities, knowledge, skills, and experience of the company’s employees and managers) - Social capital (the network of relationships that individuals have throughout the organization) - Knowledge Explicit knowledge Tacit knowledge Intellectual capital = Market value of the firm – Book value of the firm
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4- 9 Human Capital: The Foundation of Intellectual Capital Exhibit 4.2 Human Capital: Three Interdependent Activities
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4- 10 Question Do you agree with this statement, “hire for attitude, train for skill”? Explain.
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4- 11 Attracting Human Capital Hire for attitude, train for skill Emphasis on - General knowledge and experience - Social skills - Values - Beliefs - Attitudes
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4- 12 Attracting Human Capital Sound recruiting approaches - Scanning pools of available candidates - Challenge becomes having the right job candidates, not the greatest number of them Networking - Current employees may be best source of new ones - Incentives for referrals
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4- 13
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