Podcast
Play an AI-generated podcast conversation about this lesson
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?
Signup and view all the answers
What can innovation refer to?
What can innovation refer to?
Signup and view all the answers
What is the primary goal of innovation?
What is the primary goal of innovation?
Signup and view all the answers
What are the key factors for innovation process design?
What are the key factors for innovation process design?
Signup and view all the answers
What are the potential drawbacks of innovation?
What are the potential drawbacks of innovation?
Signup and view all the answers
What does innovation refer to?
What does innovation refer to?
Signup and view all the answers
What should the innovation process be in order to be effective?
What should the innovation process be in order to be effective?
Signup and view all the answers
Flashcards are hidden until you start studying
