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ADMS 2400 Study Guide - Final Guide: Tacit Knowledge, Organizational Learning, Value Chain

104 views7 pages
emeraldserval33
12 Aug 2020
School
York University
Department
Administrative Studies
Course
ADMS 2400
Professor
Anna Blake

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Document Summary

Capabilities and resources have the potential to lead to competitive advantage if they are valuable and unique. If an organization possesses a valuable and unique resource, it is always a source of competitive advantage. A firm with weak knowledge and learning resources is at risk that its financial resources will also become weak. Effective training programs can be a source of competitive advantage. An organization"s human resources, physical resources, financial resources, knowledge and learning resources, and general organizational resources are highly interconnected. Board members can play important strategic roles in organizations such as providing advice to managers with regard to strategies and strategic direction. Organizations that cluster near each other typically are at a competitive disadvantage relative to organizations that are not in clusters. Tacit knowledge can be communicated with precision through written means. Human resource management is a basic activity in the value chain. Stakeholder-based performance measures reflect more of the total value a firm creates.

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Related Questions

The primary costs of FDI to host countries are:

Loss of sovereignty and patriotism

Adverse effects on competition and exports

Capital outflow

Loss of sovereignty, adverse effects on competition, and capital outflow

____ suggests that FDI, unrestricted by government intervention, will enable countries to tap into their absolute or comparative advantage by specializing in the production of certain goods or services.

The radical view

The free market view

Pragmatic nationalism

Expropriation

What are the benefits of FDI to home countries?

Repatriated earnings from profits from FDI.

Increased exports of components and services to host countries.

Learning via FDI from operations abroad.

All of these answers

When one firm enters a foreign country through FDI, its rivals are likely to follow by undertaking additional FDI in a host country to:

Create knowledge spillover

Discover a new market for its goods

Overcome and combat market failure through FDI

Acquire location advantages or neutralize the first mover’s location advantages

Most countries practice:

Pragmatic nationalism

Free market based FDI

Government embracing radical view

French patriotism

FDI may be viewed as a reflection of firm motivation to extend firm-specific capabilities abroad and their responses to overcome imperfections and failures.

True

False

Most countries practice a totally "free market" view.

True

False

8. Outsourcing is the process of turning over an organizational activity to an outside supplier, located in a foreign country, which will perform it on behalf of the local firm.

True

False

Financial, physical, and technological resources and capabilities are all tangible assets.

True

False

A firm's resources and capabilities are tangible assets a firm uses to choose and implement its strategies.

True

False

An example of low power distance would be when subordinates address their bosses on a first-name basis.

True

False

Benchmarking is an assessment as to whether a firm has resources and capabilities to perform a particular activity in a manner superior to competitors.

True

False

A country with low-masculinity has a more subtle differentiation between the gender roles.

True

False

Setting up subsidiaries abroad so the work can be performed in-house but in the foreign location is also called captive sourcing.

True

False

Managers in low uncertainty avoidance countries rely more on experience and training than managers in high uncertainty avoidance countries who rely more on rules.

True

False

Informal institutions include laws, regulations, and rules.

True

False

The United States is often classified as a collective society.

True

False

A pure market economy characterized by the "invisible hand" of market forces is noted by

John Stuart Mill

Adam Smith

Aristotle

Amatya Zen

Culture is defined in the text as:

The communication between members of similar location.

The collective programming of the mind, which distinguishes the members of one group or category of people from another.

The main component of formal institutions.

The attitudes and behaviors characteristic of a particular social group or organization.

When an expat employee returns to her or his current employer but the employer does not provide attractive opportunities, she/he often may be hired by a competitor firm. Why?

Competitor firms are also interested in globalizing their business.

Former expats bring instant expertise and experience.

Competing firms will pay a higher premium for expertise.

All of these answers

The government taking a "hands-off approach" is known as:

Laissez faire

Command economy

Mixed economy

Liberal approach

Expatriate managers make ideal candidates for top management positions.

True

False

____ are defined as rights associated with the ownership of intellectual property.

Patents

Copyrights

Trademarks

Intellectual property rights

In a collective society:

Family units are highly valued.

Being an entrepreneur is a popular mindset

Being different than your neighbor is important.

Outsiders are easily trusted.

Which of the following definitions best defines an expatriate manager?

A manager who works outside his or her native country

A manager of great expertise

An ex-manager rehired for advisory purposes

None of these answers

What do you believe is the ultimate impact of technology on job creation? Should there be curbs to the pace of modernization?

(Answer in a paragraph(around 200 words))

What Econ 101 Can Teach Us About Artificial Intelligence

Here's why advancing technology often leads to more jobs for humans, not fewer

A Tesla Model X 75D semi-autonomous electric vehicle is parked at the Governor's Mansion in Olympia, Wash., this year. Goldman Sachs predicts that 25 years from now, driver employment will be growing by 300,000 less per year because of autonomous vehicles.

By Greg Ip

Aug 9, 2017

The first chart you draw in Economics 101 is the downward-sloping demand curve. It shows that when the price of something drops, people consume more of it.

This elementary rule of economics is remarkably helpful in discussing the effects of technological change. As I wrote last week, when technology makes something cheaper, we consume more of it, often by finding new uses. This lesson repeats through history: When coal-fueled steam power became more efficient in the 1800s, demand for steam power and coal spread. When automated teller machines made it cheaper to operate bank branches in the 1980s, banks opened more branches.

My column cites spreadsheet programs like Lotus 1-2-3, whose arrival in the early 1980s made repetitive recalculation vastly simpler and faster. This reduced demand for bookkeepers but created more demand for people who could run numbers in new and interesting ways, such as accountants and management consultants.

In a recent article for the Harvard Business Review, Ajay Agrawal, Joshua Gans and Avi Goldfarb, economists at the University of Toronto who study artificial intelligence, say that in the 1990s, economists didn’t buy into the hype that the internet and the World Wide Web would upend everything:

“It wasn’t that we didn’t recognize that something changed. It was that we recognized that the old economics lens remained useful for looking at the changes taking place. The economics of the ‘New Economy’ could be described at a high level: Digital technology would cause a reduction in the cost of search and communication. This would lead to more search, more communication, and more activities that go together with search and communication. That’s essentially what happened.”

They apply that lesson to artificial intelligence and more specifically to machine learning, the use of powerful algorithms to make predictions from patterns in large quantities of data. Machine learning, they say, means many problems will be reframed as prediction problems. Autonomous driving no longer involves programming the car to respond in a certain way to a variety of controlled scenarios, but instead, to watch what humans actually do and then respond the same way.

How does this affect jobs? The authors says it depends on whether the technology competes with or complements what you do. Spreadsheets competed with what bookkeepers do (record keeping and calculation) and thus made them less valuable, but complemented what accountants and consultants do (analysis), and made them more valuable.

Mssrs. Agrawal, Gans and Goldfarb say that AI reduces the value of those who predict things for a living, such as whether a mark on an X-ray is a tumor, but it raises the value of those who use predictions to make judgments:

“When prediction is cheap, diagnosis will be more frequent and convenient, and thus we’ll detect many more early-stage, treatable conditions. This will mean more decisions will be made about

medical treatment, which means greater demand for the application of ethics, and for emotional support, which are provided by humans.”

So AI will create winners and losers within and among industries and occupations. But what will the net effect be? More jobs or less, and for whom? This isn’t knowable, but history suggests that while a specific occupation or industry may suffer losses, the aggregate effects will be positive. The growth in accounting and analytical jobs since the early 1980s is much larger than the loss of bookkeeping jobs.

Nor did all those bookkeepers necessarily lose jobs; many probably became accountants or analysts. As Mr. Gans told me, bookkeepers may have been best placed to exploit the capabilities of spreadsheets: “If you were doing calculations all day as a bookkeeper, chances are you thought a bit about why you are doing that. When you got a spreadsheet, rather than doing one calculation per day you could do 10 to 50, so you had a better sense of what the [calculations] might say.”

Some readers said AI is a much bigger threat than spreadsheets because it has so many more potential applications—and they displace uniquely human abilities. I agree with the first part, less so with the second. I suspect workers in previous eras, whether they drove a horse and plow, handled a stock trade or connected a phone call, thought there was something about their job that a machine could never replace.

Will the disruptions this time around be greater? Maybe, but not necessarily. Goldman Sachs predicts that 25 years from now, driver employment will be growing by 300,000 less per year because of autonomous vehicles. That’s 25,000 jobs per month to make up, compared with the 5,000 per month that the decline in bookkeeping since 1985 represents. But it’s hardly insurmountable in a labor market where five million jobs are created and destroyed each month.

Others said I was ignoring the potential for rogue algorithms and robots to turn on us or strip us of our freedom.

The experts, of which I am not one, tell me AI is nowhere near that capability. (Before the robots can kill us they must first stop killing themselves.) And don’t assume spreadsheets have been all benign. Excel may not have slain anyone Terminator-style, but it did help wound J.P. Morgan through its role in the “London Whale” trading disaster.

Which brings me to the final point. We should not confuse what technology enables us to do with how much better off it makes us. Spreadsheets enabled analysts to construct much more intricate forecasts of stock prices and the economy, but didn’t make those forecasts any more accurate. AI may enable companies to better manage the risks of their products and actions, but those products and actions may not be more profitable. Many a CEO has wondered whether the money they spend on spreadsheet-wielding consultants yields any real value. Some day they may wonder the same thing about their AI-wielding consultants.