Status Quo Bias versus Radical Innovation in Business Growth

Product innovations are a completely unpredictable and chaotic process

Product innovations follow a linear process from idea to product

Product innovations require iteration and feedback loops to uncover crucial, often hidden aspects (correct)

Product innovations are solely driven by the corporate strategy and do not require any iteration or feedback

To strategically oversee and manage all the products within a company's portfolio (correct)

To allocate resources evenly across all product development projects

To maximize the number of new products developed by the company

To ensure that only the most profitable products are developed and launched

By allocating more resources to the most profitable products in the portfolio

By constantly introducing new products to the market, regardless of their strategic fit

By ensuring that only products that meet financial and strategic criteria are pursued (correct)

By prioritizing the development of products that are technologically advanced, even if they do not align with the company's strategy

<p>It enables the company to leverage external expertise and resources to uncover hidden aspects of the product</p> Signup and view all the answers

<p>The alignment of the new product with the company's overall corporate strategy</p> Signup and view all the answers

<p>Bottom-up strategies involve modifying product components to be shared across a family of products, while top-down strategies develop a family of products that share the same components</p> Signup and view all the answers