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STRATEGIC MANAGEMENT
CHAPTER 4
Chapter 4
McGraw-Hill/Irwin
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Learning Objectives
After studying this chapter, you should have a good understanding of:
Why the management of knowledge professionals and knowledge itself is so critical in todays 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 Why teams are critical in combining and leveraging knowledge in organizations and how they can be made more effective 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 How leveraging human capital is critical to strategy
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Intel
Nucor (Steel) General Motors Corp. Goodyear Tire & Rubber Co.
33.7
4.6 184.6
177.0
3.3 30.5
32.5
2.2 20.6
5.4
1.5 1.5
14.4
3.0
3.6
.83
Note: The data on market valuations are as of November 5, 2001. All other financial data is based on the most recently available balance sheets and income statements.
STRATEGIC MANAGEMENT CHAPTER 4 Gregory G. Dess and G. T. Lumpkin
4-5
Capital, and
Knowledge
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Social Capital
The formal and informal relationships within the firm Interaction, sharing and collaboration Allows the firm to combine and leverage its human capital Unique bundles of resources
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Human
Capital
Retaining
Human Capital
STRATEGIC MANAGEMENT CHAPTER 4 Gregory G. Dess and G. T. Lumpkin
Knowledge/Expertise/Intellect Initiative/Speed Global Mind-Set Note: This evaluation system consists of ten characteristics Vision, Customer/Quality Focus, Integrity, and so on. For each of these characteristics there are four performance criteria. For illustrative purposes, the four performance criteria for Vision are included.
CHAPTER 4 Gregory G. Dess and G. T. Lumpkin
STRATEGIC MANAGEMENT
Sources: Branch, S. 1999. The 100 best companies to work for in America, Fortune, January 11:118-114; Bennett, S. 2000. Working Woman: September, 46.
STRATEGIC MANAGEMENT
Microsoft Employees Who Have Left the Company for Other Businesses
COMPANY WHAT IT DOES DEFECTORS FROM MICROSOFT
Crossgain
23 of 60 employees
Check Space
Builds online Company says a good payment service for chunk of its 30 small businesses employees Builds wireless notification software Eight of 25 employees
Avogadro
Source: Buckman, R. 2000. Tech defectors from Microsoft resettle together. Wall Street Journal, October 16: B6.
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