A Situational Example of a Team Putting Knowledge to Practice

question 9

Multiple Choice

A situational example of a team putting knowledge to practice through knowledge adaptation is:

• A)a manager discovers,by lots of personal research,that his department has created a new type of adhesive that is not sticky when wet but very sticky when dry.The manager challenges himself and his employees to improvise fixes to an employee's broken bicycle with this product.
• B)a manager challenges the use of a newly developed fixture at her departmental status meeting.This manager pushes the fixture design department to keep refining the design with new parameters in mind.
• C)in order to shorten his team's R&D phase,a manager visits the company archives and researches past formulas that led to unsuccessful results.
• D)a manager finds out that their newest product is not doing well in the market.He pushes the team to take a new look at their product research,and make changes to the product based on the team expanding their knowledge of marketplace trends.

Grasp the basis of the Resource-Based View (RBV) including resource immobility and heterogeneity.

Analyze the factors influencing supplier and buyer power within markets.

Identify dynamics affecting profitability in spite of barriers to entry, such as substitute products and industry growth rate.

Recognize strategies to decrease buyer power and to command higher prices for products.

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Definitions:

Investment Value

The worth of an asset or a company to a particular investor based on individual investment requirements and expectations.

Shares

Units of ownership interest in a corporation or financial asset, providing a proportion of the profit to shareholders in the form of dividends.

IPOs

Initial Public Offerings, the process by which a private company becomes public by offering its shares for the first time to the public.

Expected Dollar Return

The forecasted amount of money in dollars that an investment is expected to return over a specific period.