Technology
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ANSWER
Subject: Managing and Measuring Intellectual Capital (ISE5601)
Take-Home Examination Answer Script Template
Semester 2 Year 2020/21
Student Name: Student ID:
Question 1
1(a)
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There is a need to calculate the risk probability ranges, where the risks will classify into five levels. They include very high, high, medium, low, and very low. These will then be classified into a given probability range. When assessing the probability of the risks, there will be an easier understanding of each particular risk. In this way, when assessing probability, all team members have a common understanding of the meaning of each category. There will also be a need to factor the element of the costs of the risks, which will be as follows:
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1(b)
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To keep control of the technology, there will be a need to integrate technical protection services, which will help control the company’s distribution of the intellectual property and hence help reduce the risks. There will be a need to patent it for the Zebra Brand to ensure that the company maintains its reputation. This will involve a grant of a property right to the company, which is the brand’s inventor, without others having the ability to use it or destroy the brand name by the competition. For the YouTube videos, there will be a need to have a trademark for the slogans and the logos of the company to ensure that no one else uses them for their branding or branding their products. To ensure that the competitors do not package the companies aa with their products, there will be a need to have copyrights, which will prevent them from using any information from the company without permission. Finally, to prevent the competitors from heads haunting the companies R&D department and that staff members can share sensitive information with the competitors, there will be a need for the firm to have trade secrets and nondisclosure agreements to prevent any illegal sharing.
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Question 2
2(a)
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The intellectual capital activities portrayed at the ABC involve human capital, instilling knowledge to the workers, more so customer service staff. They will use this information as a source that will see them as this information to the consumers and help ensure more purchases of the company’s services. As a result, this offers the ABC company a competitive advantage. |
2(b)
| ABC can fulfill one of the basics for implementing the CICM model by devising an IC strategy. Such a strategy can play a significant part in enabling the firm to phase out the required changes over the short and long terms and, as a result, help in a more effective resource allocation.
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2(c)
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The most suitable CICM model is one whose main value drives will be market share and new products, workforce, cost containment, and workforce. The CICM model will also need to consider the company’s revenue streams, efficiency, and new products and services. Since it is a service industry, it will mainly focus on codified knowledge and information database as the source of competitive advantage. The model will need to distinguish between the management of each IC form under its three key stages. The critical stages to factor in the model include knowledge management, innovation, and intellectual property. |
2(d)(i)
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Financial Objective The company’s main objective is to work towards ensuring profitability, liquidity, efficiency, and stability. Indicator The Gross Profit Margin should be the key indicator of the ABC company Target Aim to achieve economic growth and more investments for the company in the future. Customer Objective To ensure that the company enjoys the experiences of the services offered by the company Indicator Undertake a customer satisfaction Score. Target Customers who require third-party logistics service in Mainland China Internal Process Objective To be a better company in Process improvements which will involve streamlining an internal approval process. Indicator · The use of Capacity utilization will be the most suitable indicator for the internal processes of the firm. Target To ensure that all the processes are in line with the company goals. Learning and Growth Objective To meet the needs of employee learning and development. Indicator Employee satisfaction index (No) Target The biggest target for learning and growth will be The customer service staff of ABC |
2(d)(ii)
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Growth Indicator for external structure Increased Sales of the services Indicator for the internal structure Increased revenue and sales Innovation Indicator for external structure Other companies trying to copy the firm’s ideas Indicator for the internal structure Growth in terms of company performance Efficiency Indicator for external structure Increased competition with other firms within a similar industry indicator for the internal structure Improve performance amongst the employees Stability Indicator for external structure Overall economic growth of the company Indicator for the internal structure Reduced cases of employee turnover
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Question 3
3(a)
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The staff has been equipped with good communication skills and knowledge to collaborate with the firm to work on projects. A measurement indicator for human capital will be scorecard methods, which will identify each staff member’s performance.
(ii) The company has developed an e-business system for providing IT solutions, including software products, computer hardware, and technical services. For this type of Intellectual capital, the most suitable measurement indicator is the Return on assets method to compare tangible assets with the annual financial growth.
(iii) The firm has international alliances, designs and has worked on delivering customized solutions to its clientele. Direct intellectual capital methods (DIC) will be used to measure where components are identified and valued.
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3(b)
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External Environment PEST analysis Political XYZ has a suitable political climate and environment, given that it is easy for the firm to establish international alliances, which have boosted its growth efforts. It also is in a country with appropriate governance that allows for business to thrive and more entrants into the market, leading to higher competition. Economic There is a rise in global development and increased international trade, which is a significant advantage growing further in the market. Social factors The sending habits of the consumers are changing where they are more interested in products and services that are technologically y advanced, giving the firm a competitive edge in the market. There have also been a shifty in taste and reds, which XYZ should focus on in the future Technological There is a paradigm shift in how people use modern technology, and hence getting involved in IT services or any activity related to technology gives the firm an upper hand. Internal Analysis SWOT analysis Strengths The firm has considerable revenue that can help in running its day-to-day services. The firm has a solid human resource base who can work together in the meeting of the set goals and objectives Weakness Venturing into a market that has already had too many layers is the firm greatest weakness. Threats The primary threat is the competition in the industry where there are other significant players in the industry An almost similar threat is that of new entrants in the market, making the industry saturated Opportunities The company has transformed positively to become a significant IT service in the company and positioning itself as the best in the market The IT industry’s potential is growing further, making the firm well-positioned to continue running its process growing and collecting more revenues.
Analyzing the strategic environment Critical success factor analysis – · Strategic Focus People The staff members are a vital part of the organization because their service delivery has ensured that they help the firm meet its goals and objectives. · Operations · Currently, all firm stakeholders engage with an international alliance, designs, and delivers customized to meet solutions for its customers worldwide. · Marketing · The workers have a good working relationship and, through good communication, can understand the wants of the consumers, which helps in the day-to-day processes of the firm.
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3(c)(i)
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Resource fit entails whether a firm has had enough access to the resource needed to be successfully competitive. It also seeks to understand whether the company has adequate financial means and capabilities to support the entire business group. Transforming from a traditional to an IT service company played a significant role in ensuring that XYZ company had many resources, more so in terms of intellectual capital, since the Service company needs more intellectual capital than other assets, enabling it to grow more.
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3(c)(ii)
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The transformation of XYZ company had a significant impact on the effectiveness of intellectual capital management. This is since most of the focus shifted to new Information technology infrastructure, enabling the services to be more effective. The three elements of intellectual capital could easily be managed.
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3(c)(iii)
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The transformation of the company made it easy to use the methods of Intellectual property protection. This is since it is relatively easy to apply strategies such as patenting, trademarking, and safeguarding the company’s property when it changes from the traditional methods to the modern IT ways. This is since of the paradigm shift in the process of mot business within the industry.
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3(d)
| (i) An activity that can help in the generation of external value is undertaking more marketing efforts to more prospective consumers.
(ii) An activity that can help in the generation of external value for the firm is developing measures that will try to pursue changes within the company, such as making acquisitions and investing heavily in research and development.
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3(e)
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According to the statement by Steve Wall man, traditional financial statements are not the most effective in providing relevant information. This is since they mail to help the managers and investors understand how their resources create value in the future of a company. This means that IC statements are most suited in bridging this gap by providing information on how intellectual resources help create future value.
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3(f)
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The most suitable method for measuring the performance of XYZ company in managing IC is the Direct Intellectual Capital Method (DIC): This a technique that helps in estimating the value of intangible assets, where it first identifies various components. The method is also most suitable in ensuring that the company’s components are evaluated either singly or together.
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