Innovation and R&D Strategies in Business

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What is the key difference between sustaining innovation and disruptive innovation according to the text?

Sustaining innovation creates new value networks, while disruptive innovation improves existing ones.
Disruptive innovation is focused on improving products, while sustaining innovation is focused on process changes.
Sustaining innovation satisfies the needs of existing customers, while disruptive innovation targets new customer segments. (correct)
Disruptive innovation exists in the current market, while sustaining innovation creates new markets.

According to the BCG 2015 Global Innovation Survey, which of the following was NOT identified as a top 6 obstacle for innovation performance?

Lack of company culture
Executing the best ideas
Lack of customer demand (correct)
Choosing the best ideas

Which of the following innovation strategies is described in the text as "the opposite of disruptive innovation"?

Sustaining innovation (correct)
Architectural innovation
Component innovation
Radical innovation

What is a key characteristic of architectural innovation?

It involves changes to the linkages between components (B) Signup and view all the answers

According to the Conceptual Framework of Innovation presented in the text, which of the following is NOT a key component?

Government (C) Signup and view all the answers

What does the text suggest about how far a firm is prepared and able to change in practice?

The text does not provide any information about a firm's ability to change in practice (B) Signup and view all the answers

Which of the following is NOT a dimension of innovation mentioned in the text?

Incremental innovation (D) Signup and view all the answers

Which of the following statements best represents the concept of open innovation?

External R&D can create significant value, but internal R&D is necessary to claim a portion of that value (B) Signup and view all the answers

Which of the following strategies is NOT advocated by the text in the context of open innovation?

Strictly controlling our innovation process to prevent competitors from accessing our ideas (A) Signup and view all the answers

What is a key advantage of open innovation?

It provides access to a broader pool of ideas and expertise. (C) Signup and view all the answers

Which of the following statements best reflects the text's perspective on the relationship between internal and external R&D?

Internal and external R&D should be balanced to maximize value creation and capture. (A) Signup and view all the answers

Which of the following is NOT a potential benefit of open innovation?

Ensuring that our competitors cannot profit from our ideas (A) Signup and view all the answers

Which of the following statements best reflects the text's perspective on the importance of being first to market with an innovation?

Building a better business model is more important than being first to market. (D) Signup and view all the answers

Which of the following is a potential source of innovation in an open innovation model?

Collaborating with external partners, such as universities or startups (B) Signup and view all the answers

Which of the following statements is NOT supported by the text in the context of open innovation?

Companies should strictly control their innovation process to prevent competitors from profiting. (D) Signup and view all the answers

Which of the following statements best reflects the role of external R&D in an open innovation model?

External R&D can create significant value, but internal R&D is needed to capture a portion of that value. (C) Signup and view all the answers

Which of the following statements is NOT consistent with the text's perspective on open innovation?

Companies should strictly control their innovation process to prevent competitors from profiting. (C) Signup and view all the answers