MGMT Quiz 7

Whole Foods entered the grocery market to offer organic products at high prices. Following Whole Foods, Plum Organics entered the market with convenient organic baby food and snack foods for children. Plum Organics adopts which of the following type of innovation?

Architectural innovation

Anna noticed that at parties she hosted, guests would set down their wine glasses and forget which one was their glass. She designed the Wine Glass Writer to write the names on the wine glass to solve this problem. The discovery of this new business idea is a result of

Deliberate search

Netflix's subscription-based movie streaming service resulted in the demise of Blockbuster. This is an example of which of the following type of innovation?

Disruptive innovation

Which of the following is a feature of the growth stage of the industry life cycle?

Emphasis on product and process innovation

Which of the following value-chain activity becomes important in the introduction stage of the industry life cycle?

Research and development

Warby Parker, an American online retailer of prescription glasses and sunglasses, donates one pair of glasses for every pair of glasses it sells. Warby Parker is adopting which of the following entrepreneurial model?

Social entrepreneurship

Travis Kalanick and Garrett Camp, founders of Uber, thought of the idea of a timeshare limo service that could be ordered via an application, on a winter's evening in the rain trying to hail a cab. The discovery of this new business idea is a result of

Spontaneous discovery

Which of the following scenarios would be characteristic of an entrepreneur?

Toyota implemented an innovative just-in-time (JIT) manufacturing system aimed at reducing times within the production system as well as response times from suppliers and to customers.

The four-step innovation process begins with

idea generation

In the decline stage, which of the following strategies involves supporting production effort at a given level?

maintain strategy