Types of Innovation Quiz
37 Questions
4 Views

Types of Innovation Quiz

Created by
@CrispHouston5994

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a technology trajectory?

  • The life cycle of a technology from invention to obsolescence.
  • The financial investment pattern in technology development.
  • The relationship between different technologies.
  • The path a technology takes through time. (correct)

    • Which of the following is not a component of technology trajectories?

  • Novel components
  • Financial forecasting of technology (correct)
  • Re-use of components
  • Recombination of components

    • What does the 'sustaining mastery over technology' phase in a technology S-curve indicate?

  • Development of completely new technologies.
  • Rapid decline in technology performance.
  • Initial creation of the technology.
  • Continuous improvement within existing limitations. (correct)

    • Which statement best describes the use of qubits in quantum computing?

    <p>They are novel components for performing complex calculations.</p> Signup and view all the answers

    What major milestone does the 'major technical obstacle overcome' point signify in a technology S-curve?

    <p>A breakthrough that leads to significant performance improvement.</p> Signup and view all the answers

    What characterizes incremental innovation?

    <p>It makes minor adjustments to existing practices.</p> Signup and view all the answers

    Which type of innovation requires completely new knowledge and resources?

    <p>Radical innovation</p> Signup and view all the answers

    What differentiates architectural innovation from modular innovation?

    <p>Architectural innovation alters the overall design while keeping modules unchanged.</p> Signup and view all the answers

    Which pair represents two types of innovation that contrast with each other?

    <p>Disruptive and sustaining innovation</p> Signup and view all the answers

    What is typically a characteristic of radical innovation?

    <p>It results in significant performance differences.</p> Signup and view all the answers

    What does sustaining innovation aim to achieve?

    <p>Enhance existing products or services.</p> Signup and view all the answers

    Which type of innovation can be described as involving a significant technological shift?

    <p>Radical innovation</p> Signup and view all the answers

    What type of innovation is primarily concerned with introducing new product features or services based on user needs?

    <p>Service innovation</p> Signup and view all the answers

    What is the primary focus of adoption s-curves?

    <p>Cumulative market penetration or sales</p> Signup and view all the answers

    Which statement best describes sustaining innovation?

    <p>Improving existing products for attractive customers in current markets</p> Signup and view all the answers

    What is a key characteristic of disruptive innovation?

    <p>New products that introduce a different set of features, performance, and price attributes</p> Signup and view all the answers

    How do disruptive innovations typically perform in comparison to existing products?

    <p>They perform poorly on prestigious attributes initially</p> Signup and view all the answers

    What is a common reason aggressive organizations may respond late to disruptive innovations?

    <p>They focus on maintaining existing market strategies</p> Signup and view all the answers

    In the context of disruptive innovation, what does a 'different set of features' imply?

    <p>They may be less valued by mainstream customers initially</p> Signup and view all the answers

    What term is used to describe innovations that target new or unattractive customer segments with simpler products?

    <p>Disruptive innovations</p> Signup and view all the answers

    Which of the following can be a consequence of responding late to disruptive innovation?

    <p>Loss of competitive edge and market relevance</p> Signup and view all the answers

    What does the S-curve in the context of technology primarily illustrate?

    <p>The transition to a new technology and its performance over effort and time</p> Signup and view all the answers

    Which of the following is NOT a purpose of using a technology S-curve?

    <p>To predict the exact lifespan of a technology</p> Signup and view all the answers

    How can organizations assess where they are on the S-curve?

    <p>By evaluating the rate of learning and technology performance advancement</p> Signup and view all the answers

    What is a critical consideration regarding the limits of specific technology, according to the S-curve model?

    <p>Whether the learning is flattening and if other technologies improve faster</p> Signup and view all the answers

    What distinguishes adoption S-curves from technology S-curves?

    <p>Adoption S-curves focus more on the consumer uptake rather than technological performance</p> Signup and view all the answers

    What does Moore’s Law typically describe?

    <p>The observation that the number of transistors on integrated circuits doubles approximately every two years</p> Signup and view all the answers

    According to the dynamics of industry participation, what is indicated by an increase in the number of firms in an industry?

    <p>Increased competition potentially leading to more innovation</p> Signup and view all the answers

    Why is it advised not to wait until the end of the S-curve before investing in new technologies?

    <p>Waiting could result in being outcompeted by more agile firms</p> Signup and view all the answers

    What often leads to the failure of incumbents to respond to disruptive innovations?

    <p>Inability to change their strategy</p> Signup and view all the answers

    What distinguishes radical innovation from incremental innovation?

    <p>Incremental innovation involves small improvements, while radical involves significant changes</p> Signup and view all the answers

    What is the primary focus of the S-curve model in relation to technology?

    <p>To understand the technological trajectories based on performance and time</p> Signup and view all the answers

    Which of the following correctly differentiates between new-market disruption and low-end disruption?

    <p>New-market disruption creates a new market, while low-end disruption targets the lower end of existing markets</p> Signup and view all the answers

    What is path dependence in the context of technological innovation trajectories?

    <p>The concept that future decisions are heavily influenced by past choices</p> Signup and view all the answers

    Why might the S-curve model be considered limited as a prescriptive tool?

    <p>It can oversimplify the complexities involved in technology adoption</p> Signup and view all the answers

    Which statement best describes the differences between sustaining and disruptive innovations?

    <p>Sustaining innovations improve existing products, while disruptive innovations create new markets</p> Signup and view all the answers

    What is a key characteristic of architectural innovation?

    <p>It alters the way components fit together without changing the core technology</p> Signup and view all the answers

    Study Notes

    Types of Innovation

    • Product Innovation involves the creation of a new good or service.
    • Service Innovation relates to changes in the way an existing good is delivered to consumers.
    • Process Innovation describes improvements in the way products are made or services are delivered, often leading to higher efficiency levels.
    • Incremental Innovation represents gradual improvements upon existing technologies or processes. It builds on existing knowledge and resources to enhance existing practices slightly.
    • Radical Innovation introduces completely new solutions that differ considerably from past innovations. It requires new knowledge and resources, and often marks a substantial performance improvement.
    • Modular Innovation involves changes within a system's components, without influencing its overall architecture. It allows for the replacement of existing components with new, improved versions.
    • Architectural Innovation focuses on redesigning a system's fundamental structure, potentially altering the interactions between components. This shifts the entire architecture of the system, leading to significant changes.

    Technology Trajectories

    • Technology Trajectory refers to the path that a technology takes over time.
    • Path Dependence describes the phenomenon of how earlier decisions in the development of a technology influence later choices, sometimes limiting future options for innovation.
    • Recombination occurs when components of one technology are combined and integrated into other technologies to create new products.
    • Technology S-Curve illustrates the relationship between effort (investment) and performance enhancements in a technology. The curve starts with rapid improvements, followed by a gradual decline as the technology approaches its physical limits.
    • Adoption S-Curves depict the cumulative adoption of a technology in the market, showing its penetration and popularity over time. This is different from a technology S-curve, which focuses on performance.
    • Sustaining Innovation focuses on improving existing products or services to attract existing customers in established markets.
    • Disruptive Innovation introduces significantly different products or services at a much lower cost, often targeting new or less demanding customers. These new offerings initially appear inferior to existing products, but quickly evolve to become more powerful and disruptive to the market.

    Disruptive Innovation Characteristics

    • Package of Attributes - Disruptive innovations often perform much better on a new set of attributes than existing technologies.
    • Inferior Performance - The new products may be initially inferior to established products based on their performance in established key attributes, despite their initial low cost.
    • Performance Increase - These disruptive technologies often rapidly improve on their performance of core attributes, eventually outperforming older technologies.

    Process of Disruptive Innovation

    • Stage 1 - An incumbent firm focuses on maintaining its competitive edge by developing sustaining innovations in a niche market, where a vast majority of its customers exist.
    • Stage 2 - A new entrant emerges with a disruptive innovation targeting customers at the lower end of the market, a segment that the incumbent firm has neglected.
    • Stage 3 - If the disruptive innovation succeeds, it begins to capture a larger share of the market, attracting customers who were previously comfortable with the incumbent's products.
    • Stage 4 - The disruptive innovation eventually catches up to the incumbent firm's established products, surpassing them in terms of performance and price, leading to market domination.

    Why Incumbents Fail

    • Focus on Sustaining Innovation - Established firms often prioritize continuous improvements on existing products, to appeal to their established customer base, neglecting the potential of disruptive innovations.
    • Market Research - Incumbent firms rely heavily on market research to understand customer needs. Unfortunately, this research may focus too heavily on the existing customer base and fail to capture the potential of new customer segments.
    • Organizational Structure - The entrenched structures and processes within established firms may make it challenging to adapt to the rapid changes and resource allocation required by disruptive innovations.

    Key Takeaway

    • Disruptive innovation often occurs at the bottom of the market and works its way upwards, eventually surpassing the existing industry leaders with its improved performance and affordability.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    Strategic Management of Technology & Innovation Lecture 2 PDF

    Description

    Test your knowledge on the various types of innovation, including product, service, process, and more. This quiz explores incremental, radical, modular, and architectural innovations, helping you understand how each type contributes to advancements. Challenge yourself and see how well you grasp these concepts!

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser