Types of Innovation and the Innovation Process
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Questions and Answers

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?

    <p>The impact on competition in the industry</p> Signup and view all the answers

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

    <p>Radical Innovation</p> 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?

    <p>Product Innovation</p> Signup and view all the answers

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

    <p>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.</p> Signup and view all the answers

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

    <p>Application Launch</p> Signup and view all the answers

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

    <p>Organizational Development</p> Signup and view all the answers

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

    <p>Decrease in return on innovation</p> Signup and view all the answers

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

    <p>Process Innovation</p> Signup and view all the answers

    What is the primary focus of Organization Development Techniques?

    <p>Enhancing organizational culture</p> Signup and view all the answers

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

    <p>Technical innovation focuses on product performance, while managerial innovation focuses on management processes.</p> 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?

    <p>Technical Innovation</p> Signup and view all the answers

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

    <p>Conflicting objectives between the two types of innovations</p> Signup and view all the answers

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

    <p>Changing how products and services are conceived and delivered</p> Signup and view all the answers

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

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

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

    <p>To ensure holistic organizational development</p> Signup and view all the answers

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