Podcast
Questions and Answers
What is innovation?
What is innovation?
- The development of new ideas without economic application
- The implementation of old ideas to create economic value
- The profitable implementation of new ideas (correct)
- The application of existing products or processes
Why should companies innovate?
Why should companies innovate?
- To reduce costs
- To gain competitive advantage (correct)
- To maintain the status quo
- To avoid operational disturbances
What are the drawbacks of innovation?
What are the drawbacks of innovation?
- Guarantees long term competitive advantage
- Reduces risk
- Disturbs both operations and logistics (correct)
- Does not require significant investment
What are the critical factors for innovation process design?
What are the critical factors for innovation process design?
What can innovation refer to?
What can innovation refer to?
What is the primary goal of innovation?
What is the primary goal of innovation?
What are the key factors for innovation process design?
What are the key factors for innovation process design?
What are the potential drawbacks of innovation?
What are the potential drawbacks of innovation?
What does innovation refer to?
What does innovation refer to?
What should the innovation process be in order to be effective?
What should the innovation process be in order to be effective?
Flashcards
What is innovation?
What is innovation?
The profitable implementation of new ideas.
Why innovate?
Why innovate?
To gain competitive advantage in the market.
Drawbacks of innovation?
Drawbacks of innovation?
Disruptions to operations and logistics.
Critical innovation factors?
Critical innovation factors?
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What innovation refers to?
What innovation refers to?
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Primary goal of innovation?
Primary goal of innovation?
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Effective innovation process?
Effective innovation process?
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What are innovation activities?
What are innovation activities?
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