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Question 1
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The importance of human capital has decreased in recent years. For this reason, many firms have placed greater attention on attracting talent but not on developing or retaining it.

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Question 2
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The more reliance a firm has on intellectual capital, the closer its book value will be to its market value.

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Question 3
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The difference between the market value and book value of a firm is its social capital.

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Question 4
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Knowledge workers are more loyal to their companies than traditional workers.

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Question 5
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Technical skills are a necessary and sufficient condition for hiring an employee.

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Question 6
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One of the most important elements in a good employee is his or her attitude. Firms should follow the adage: hire for attitude, train for skill.

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Question 7
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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.

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Question 8
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The development of intellectual capital (that is, the friendships and working relationships among talented individuals) gains importance because it helps tie knowledge workers to a given firm.

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Question 9
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A hiring agent offers a scientist approximately the same salary, facilities, equipment, and shared laboratory with 10 highly skilled and enthusiastic scientists. Part of the job is to collaborate with these peers and jointly develop promising drug compounds. This structure will create greater firm loyalty than one in which the hiring agent offers only monetary compensation.

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Question 10
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Social network analysis can be used to help identify groups or clusters of individuals that comprise the network, individuals who link the clusters, and other network members.

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Question 11
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Developing and protecting social capital requires independence, in which individuals must spend most of their time working individually.

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Question 12
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One potential downside of building social capital in an organization is groupthink. This means everyone in the group thinks on his or her own and comes up with new ideas.

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Question 13
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Sharing knowledge and information throughout the organization is important for conserving resources, developing products and services, and thwarting new opportunity creation.

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Question 14
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Technology can be used successfully to leverage human capital and knowledge within organizations as well as with customers and suppliers beyond their boundaries.

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Question 15
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Technology can also enable much more sophisticated forms of communication in addition to knowledge sharing.

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Question 16
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Since electronic teams (e-teams) seldom meet face-to-face, it is not important for them to be concerned with how to combine individual contributions effectively.

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Question 17
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Once a knowledge asset (e.g., a software code) is developed and paid for, it can be used many times at very low cost as long as it does not have to be substantially modified each time.

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Question 18
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Explicit knowledge is generally known to everyone in the firm and is not a critical concern of management.

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Question 19
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Intellectual property rights are easier to define and protect than property rights for physical assets (e.g., plant and equipment).

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Question 20
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Intellectual property rights are the tangible property owned by a firm.

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