Types of Innovation and the Innovation Process

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Which type of innovation fundamentally changes the nature of competition in an industry?

Radical Innovation (correct)

Managerial Innovation

Incremental Innovation

Technical Innovation

What type of innovation is described as a new product, service, or technology developed by an organization that replaces an existing one?

Incremental Innovation

Product Innovation

Radical Innovation (correct)

Process Innovation

Which form of innovation modifies an existing product without significantly affecting competition in an industry?

Technical Innovation

Managerial Innovation

Product Innovation

Incremental Innovation (correct)

What is the primary difference between radical innovation and incremental innovation?

The impact on competition in the industry Signup and view all the answers

Which type of innovation would likely require a higher level of resources and investment compared to the others?

Radical Innovation Signup and view all the answers

If a company wants to introduce a new version of its existing product with enhanced features, which type of innovation would be most suitable?

Product Innovation Signup and view all the answers

What is the main difference between product innovation and process innovation?

Product innovation refers to changes in the physical characteristics or performance of a product, while process innovation is about changes in how a product is manufactured. Signup and view all the answers

Which phase of the Innovation Process is associated with high return innovation?

Application Launch Signup and view all the answers

In organizational context, what does 'OD' typically stand for?

Organizational Development Signup and view all the answers

What does a decline phase indicate in the context of Innovation Development?

Decrease in return on innovation Signup and view all the answers

Which type of innovation involves a change in the way a product or service is manufactured?

Process Innovation Signup and view all the answers

What is the primary focus of Organization Development Techniques?

Enhancing organizational culture Signup and view all the answers

What is the main difference between technical innovation and managerial innovation?

Technical innovation focuses on product performance, while managerial innovation focuses on management processes. Signup and view all the answers

Which type of innovation specifically refers to changes in the physical processes through which a product or service is manufactured?

Technical Innovation Signup and view all the answers

What is a key challenge that a management team may face when implementing technical and managerial innovations simultaneously?

Conflicting objectives between the two types of innovations Signup and view all the answers

In the context of organizational innovation, what does 'managerial innovation' primarily focus on?

Changing how products and services are conceived and delivered Signup and view all the answers

Which statement best describes the purpose of a 'technical innovation'?

To alter the physical aspects or functionality of a product or service Signup and view all the answers

Why is it crucial for a management team to consider implementing both technical and managerial innovations together?

To ensure holistic organizational development Signup and view all the answers