Bus Innovation Ch 3

Which type of research and development (R&D) is done to answer specific questions? Basic research Systems integration Applied research Product research Industry research

Applied research

A company should always strive to be the first mover in the industry. True False

False

Basic research takes knowledge new to the firm and allows the firm to change its strategic position in the industry, or at least, change its potential position in the industry. True False

False

Ideas are the key to innovation. True False

False

Individuals in the organization may only engage in the innovation process over time. True False

False

Innovation is usually the product of one person's effort and genius. True False

False

With all that is involved in innovation, the direction of a new product is easy to forecast. True False

False

What is the name given to a firm that is the first to the market for a given product? Innovator Leader First mover Producer Follower

First mover

What stage of the life cycle would the focus be on monitoring potential competitors? Start-up Growth Maturity Decline Death

Growth

Which one of these statements is a myth about innovation? Seek a balance of behaviors. Leadership, culture, and process form a three-legged stool. Ideas are the key to innovation. Your organization has lots of brilliant ideas that you've never heard of. Do not blind yourself to the human dimension.

Ideas are the key to innovation.

Which of these is not a factor that favors innovation? Increased time for internal development More control of the process Greater understanding of technology Profit potential as a first mover Potential to develop the next generation of technology

Increased time for internal development

Which one of the following is not a common myth about innovation? A good process is 90% of the battle. Leadership, culture, and process form a three legged stool. Have a good methodology for evaluating ideas. We want to be entrepreneurial. We need the next big idea.

Leadership, culture, and process form a three legged stool

Which one of these methods to encourage creativity involves stretching your skills? Adventuring Confronting Portfolio of skill Opportunity identifying Rewarding

Portfolio of skill

Which of the following is not a primary way for innovative organizations to encourage creative thinking and perpetual challenging within the organization? Referring Confronting Portfolio of skills Adventuring Opportunity identifying

Referring

Tweaking is associated with which type of research? Basic Process Applied Systems integration Product

Systems integration

A first mover is a firm that is first to a market with a given product. True False

True

Aspects of the innovation process may come from different parts of an organization. True False

True

It is sometimes more beneficial to be a follower in an industry then a leader. True False

True

Process activities are related to how the firm reacts to trying new ideas. True False

True

The first question a firm considering an innovation strategy should ask is "should we innovate, or not"? True False

True

Two principle ways a company can acquire new technology are internal innovation and/or some type of alliance or purchase. True False

True

Intel labs are now seeking to develop a new type of computer chip that is more compact. This is an example of _____. basic research systems integration applied research product research industry research

applied research

Strategic group maps a firm's attention on those firms that: compose the total industry. substitute for the industry. are the same size. are most relevant as competitors. are in the same region.

are most relevant as competitors.

There are four ways that innovative organization encouraged creative thinking and perpetual challenging within the organization. They include all of the following except: adventuring. confronting. portfolio of skill. opportunity identifying. rewarding.

rewarding.

Downsizing refers to: firms selling machinery that is no longer useful. seeking to operate the same business in a smaller building. building smaller telephone units for customers. compressing more data in a smaller space. selling units or laying off employees of the firm.

selling units or laying off employees of the firm.

The lowest risk type of R&D is _____. basic research systems integration applied research product research industry research

systems integration

Sticky notes are a good example of _____. small innovations that make too much money the role of teamwork in innovation the central role of a single person in the innovation process how to rescue a failed product how a single product can rescue a troubled firm

the role of teamwork in innovation

It is beneficial to be a follower when _____. an industry is growing too fast an industry has high customer loyalty there are high customer educational costs the industry leader is the first mover there are few penalties for industry mistakes

there are high customer educational costs

A negative element to embracing internal innovation as a strategy includes a greater risk of failure to develop the right product at the right time. True False

true

It took how long to develop large flat screen panels for market? 6 months 1 year 3 years 5 years 20 years

20 years

The type of research Einstein used to develop his work with laser physics is: quantitative. applied. systems integration. qualitative. basic.

basic

The creation of new knowledge involves _____. basic research systems integration applied research product research industry research

basic research

Confronting as a means to encourage creative thinking involves: exploring an area outside of your comfort zone. deliberate debates. building a portfolio of skills. creative employees developing new projects. a camping trip by employees to build teamwork.

deliberate debates.

When Louis Gerstner took over IBM, he determined that planning should have all of the following activities except: ensuring external opportunities and threats were the focus of the planning not internal organizational issues. ensuring that the plan is focused on key implementation issues. structuring on going processes to re-examine fundamental strategic challenges. ensuring allocation decisions were not impacted by short term shifts in strategy. promoting widespread support and involvement in process.

ensuring allocation decisions were not impacted by short term shifts in strategy.

Adventuring as a means to encourage creative thinking involves: exploring an area outside of your comfort zone. deliberate debates. building a portfolio of skills. creative employees developing new projects. a camping trip by employees to build teamwork.

exploring an area outside of your comfort zone.

Benefits of innovation include all of the following except: greater control over process and outcomes. greater profit potential as a first mover. greater ability to evaluate competitors. greater understanding of the technology. greater ability to potentially develop the next generation of technology.

greater ability to evaluate competitors.

A mission statement: helps the firm stay focused as it begins to plan and implement its goals and objectives. summarizes where a business wants to go. requires fundamental rethinking and redesign. ​​increases the efficiencies or the effectiveness of an organization. is how the firm will carry out its goals and objectives.

helps the firm stay focused as it begins to plan and implement its goals and objectives.

Systems integration: is R&D that largely takes place outside of the firm. involves high risk/high return. involves adjusting the ways a firm organizes its systems, structures, and knowledge to increase leverage. adds to the basic understanding of a new field. is the most difficult type of innovation to accomplish.

involves adjusting the ways a firm organizes its systems, structures, and knowledge to increase leverage.