Test general innovation

<p>Weaknesses that hinder relationships among system components. (D)</p> Signup and view all the answers

<p>The necessity for proximity to local customers. (C)</p> Signup and view all the answers

<p>The process of idea development (C)</p> Signup and view all the answers

<p>Market testing of ideas (A)</p> Signup and view all the answers

<p>Research outcomes are uncertain (C)</p> Signup and view all the answers

<p>Creative destruction (A)</p> Signup and view all the answers

<p>Using a portfolio approach to mitigate risks (A)</p> Signup and view all the answers

<p>They achieve valuations of 1 billion or more (D)</p> Signup and view all the answers

<p>Gazelle companies (C)</p> Signup and view all the answers

<p>Lower costs and increased radical innovations (D)</p> Signup and view all the answers

<p>It provides solutions when problems arise during development (C)</p> Signup and view all the answers

<p>Innovation involves the process of commercialization or public provision. (D)</p> Signup and view all the answers

<p>Basic Research (D)</p> Signup and view all the answers

<p>Creation of prototypes for testing. (B)</p> Signup and view all the answers

<p>It is essential for maintaining competitiveness and driving growth. (A)</p> Signup and view all the answers

<p>New innovations challenge existing structures leading to economic renewal. (B)</p> Signup and view all the answers

<p>They can create and destroy entire industries. (D)</p> Signup and view all the answers

<p>Underestimation of new competencies (B)</p> Signup and view all the answers

<p>Innovation plays an important role in enhancing productivity at the national level. (D)</p> Signup and view all the answers

<p>It is based on valuable, rare, inimitable, and non-substitutable resources (B)</p> Signup and view all the answers

<p>Competence-enhancing innovation (D)</p> Signup and view all the answers

<p>Uncertainty over successful returns on investment (A)</p> Signup and view all the answers

<p>Disruption in the market (B)</p> Signup and view all the answers

<p>They focus solely on routine problems (B)</p> Signup and view all the answers

<p>Capabilities that differentiate the firm in the market (C)</p> Signup and view all the answers

<p>Insufficient protection from competitors (D)</p> Signup and view all the answers

<p>Rendering existing capabilities obsolete (A)</p> Signup and view all the answers

<p>R&amp;D investment levels (C)</p> Signup and view all the answers

<p>Inbound open innovation (C)</p> Signup and view all the answers

<p>Financial Perspective (C)</p> Signup and view all the answers

<p>R&amp;D 'as a Lab' model (C)</p> Signup and view all the answers

<p>Ability to adapt to changing environments (C)</p> Signup and view all the answers

<p>Knowledge creation and sharing (A)</p> Signup and view all the answers

<p>Access to external knowledge and resources (A)</p> Signup and view all the answers

<p>Innovations often come from startups rather than established firms. (D)</p> Signup and view all the answers

<p>Optimize R&amp;D processes for efficiency (C)</p> Signup and view all the answers

<p>Licensing of intellectual property (A)</p> Signup and view all the answers

<p>They may struggle to capitalize on innovations they develop. (A)</p> Signup and view all the answers

A new or improved product or process that brings about a significant difference compared to previous ones, made available to potential users or used by the organization.

A new way of doing something that hasn't been done before.

The practical application of scientific knowledge. It results from innovation.

Systematic research and development aimed at expanding knowledge and creating new applications.

Research focused on generating new scientific knowledge without specific applications in mind.

Research that applies existing scientific knowledge to solve a particular problem.

Focuses on solving technical problems related to a new product or production process, aiming to optimize performance.

A model of innovation that emphasizes a central chain of activities, including market identification, idea design and testing, and market entry, with feedback loops at each stage to reflect the iterative nature of the process.

The process of introducing something new, such as a product, process, or idea, into the market.

The ability of a firm to quickly adapt to changes in the market or environment.

A type of innovation that involves significant changes to existing products, processes, or ideas.

A type of innovation that focuses on incremental improvements to existing products, processes, or ideas.

The process of creating something new and valuable, often through the application of knowledge and creativity.

A company that has achieved a valuation of $1 billion or more.

A small to medium-sized company experiencing rapid growth.

The process of using knowledge, research, or other external resources to solve problems encountered during the innovation process.

The concept that economic growth and competitiveness are not solely driven by market forces, but by the complex interplay of various actors and institutions within a nation. It emphasizes the importance of collaboration and support in driving innovation.

Economic theory focused on equilibrium and rational expectations, which struggles to adequately explain innovation and learning processes.

Motivations behind globalization of innovation driven by consumer demand, such as the need to be close to customers or access emerging markets.

Motivations behind globalization of innovation stemming from supply-side factors, such as access to cheaper labor, specialized skills, or knowledge resources in other countries.

A framework for understanding and analyzing the performance of a national innovation system, identifying key components and areas for potential intervention.

A company's unique strengths that set it apart from competitors, usually difficult to copy.

A model that states a company's competitive advantage comes from its valuable, rare, inimitable, and non-substitutable resources.

When companies specialize in 'normal' tasks, they might struggle to adapt to radical changes.

An improvement that reinforces a company's existing knowledge and abilities.

An innovation that makes existing knowledge or skills obsolete, often leading to disruption.

The ability to adapt to changing market conditions.

A situation where companies don't invest enough in research and development.

The possibility that competitors can easily copy an innovation.

The lack of incentives to innovate due to fear of imitation.

The use of social knowledge to improve the market economy, especially regarding innovation.

Innovation that involves external collaboration, where companies share their knowledge and resources with other organizations, such as startups, universities, and government agencies. This can involve bringing new ideas in (inbound) or sharing existing ideas out (outbound).

A type of open innovation where companies bring new ideas, technologies, or products into their organization from external sources.

A type of open innovation where companies share their knowledge and resources with external organizations, such as licensing technologies or establishing joint ventures.

The ability of a company to create, leverage, and adapt its resources to address and seize change opportunities. This includes sensing market trends, seizing opportunities, and transforming the company to adapt to change.

A model that separates research and development activities into distinct phases, focusing on a constant feedback loop between each phase for continuous improvement. It emphasizes a clear input and output approach with systematic monitoring.

A framework for collaborative innovation, developed by Ikujiro Nonaka and Hirotaka Takeuchi, which highlights the transfer of knowledge from tacit to explicit forms and back again. It emphasizes the importance of shared understanding and collective learning.

A measure of the efficiency and effectiveness of the R&D process, considering financial performance, customer satisfaction, internal process optimization, and learning and growth of the R&D team.

A continuous process where organizations adapt their strategies and resources to meet evolving market needs and stay ahead of competitors. This involves actively scanning the environment for new opportunities and threats.

A company's internal approach to innovation, focused on its own resources and capabilities. This often leads to a limited view of opportunities and a focus on incremental improvements.

A company's approach to innovation that embraces external collaboration and open communication. This allows for a wider range of perspectives and a greater chance of generating groundbreaking solutions.