Understanding Invention and Innovation
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Questions and Answers

In the context of technology analysis, how are competitiveness and managerial actions related?

  • Competitiveness influences the assessment of managerial actions. (correct)
  • Managerial actions do not affect competitiveness.
  • Competitiveness is irrelevant to managerial actions.
  • Managerial actions determine the level of competitiveness.

What skill does the course aim to develop in the students regarding technology strategy evaluation?

  • Explore innovative procedures for technology strategy.
  • Apply analytical skills to evaluate technology strategies. (correct)
  • Generate technological scenarios for different firms.
  • Present data without evaluating technology strategies.

How can Networked Organizations be defined based on the information provided?

  • Organizations that focus on individual innovation only.
  • Organizations that facilitate innovation through network connections. (correct)
  • Organizations that avoid complex decision-making strategies.
  • Organizations that don't employ any innovative procedures.

Which is a valid application of presentation and analytical skills mentioned in the course content?

<p>Developing an argument supported by evidence for technology strategy evaluation. (C)</p> Signup and view all the answers

How does the course suggest students should respond to differing technological scenarios?

<p>Respond critically to and make judgements about varying technological scenarios at the firm level. (D)</p> Signup and view all the answers

Which of the following is NOT a potential pitfall in the innovation management model?

<p>Inadequate resource allocation for research and development (D)</p> Signup and view all the answers

In the context of the company's technology management model, what is likely to be the competitive advantage?

<p>A proprietary technology or process that differentiates the product from competitors (A)</p> Signup and view all the answers

According to the definition provided by Meyers and Marquis, which of the following is NOT an essential component of the innovation process?

<p>Obtaining regulatory approval for the product (C)</p> Signup and view all the answers

Which of the following is likely to be a potential improvement to the innovation management model?

<p>Implementing a more flexible and adaptable approach to innovation (D)</p> Signup and view all the answers

In the context of the company's technology management model, which of the following is likely to be the unique selling proposition?

<p>Delivering a product or service with unique features or capabilities (B)</p> Signup and view all the answers

Based on the information provided, which of the following is likely to be the target market for the company's product or service?

<p>Early adopters and technology enthusiasts (D)</p> Signup and view all the answers

Which of the following is NOT a common pitfall in innovation management?

<p>Effective communication and collaboration across teams (D)</p> Signup and view all the answers

How can organizations achieve a sustainable competitive advantage through innovation?

<p>By adopting a balanced approach that combines incremental and radical innovations (D)</p> Signup and view all the answers

Which of the following is NOT typically considered a stage in the innovation process?

<p>Continuous market research and analysis (B)</p> Signup and view all the answers

What is the primary purpose of identifying a target market for an innovation?

<p>To ensure that the innovation meets the specific needs and preferences of a particular group of customers (B)</p> Signup and view all the answers

Which of the following is NOT a recommended approach for improving innovation management?

<p>Investing heavily in research and development without clear strategic goals (D)</p> Signup and view all the answers

What is the primary benefit of adopting an open innovation approach?

<p>It allows organizations to access external sources of knowledge and expertise (D)</p> Signup and view all the answers

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