Question 1

The difference between invention and innovation is

Accepted Answer

A) Invention requires an inventor, innovation requires no individual person 
B) You must innovate before you invent 
C) Invention is the development of new knowledge, innovation is the commercialization of it 
D) An inventor is guaranteed a payment, an innovator is not 
A) Invention requires an inventor, innovation requires no individual person 
B) You must innovate before you invent 
C) Invention is the development of new knowledge, innovation is the commercialization of it 
D) An inventor is guaranteed a payment, an innovator is not

Question 2

Chester Carlson invented xerography, but was unable for many years to bring it successfully to market. Why?

Accepted Answer

A) He lacked courage 
B) He lacked managerial skills 
C) He became sick 
D) He lacked complementary resources 
A) He lacked courage 
B) He lacked managerial skills 
C) He became sick 
D) He lacked complementary resources

Question 3

Is innovation profitable?

Accepted Answer

A mixed picture is offered by empirical

Question 4

The Dyson dual cyclone bagless vacuum cleaner story describes:

Accepted Answer

A) An episodic fight against patent infringement, and the choice between internal commercialization vs. license 
B) The fight of Dyson against Amway and Hoover 
C) The tumultuous relationship between parent Maytag and its subsidiary Hoover 
D) The courage and consistency exhibited by British inventor James Dyson 
A) An episodic fight against patent infringement, and the choice between internal commercialization vs. license 
B) The fight of Dyson against Amway and Hoover 
C) The tumultuous relationship between parent Maytag and its subsidiary Hoover 
D) The courage and consistency exhibited by British inventor James Dyson

Question 5

Standards are important in an industry because:

Accepted Answer

A) They allow interoperability and industry growth, and are linked with network externalities 
B) They are established by the dominant player in the industry 
C) They are imposed by the government and have the force of law behind them 
D) High-tech industries are the only industries that cannot effectively function without standards 
A) They allow interoperability and industry growth, and are linked with network externalities 
B) They are established by the dominant player in the industry 
C) They are imposed by the government and have the force of law behind them 
D) High-tech industries are the only industries that cannot effectively function without standards

Question 6

Which way of exploiting an innovation leaves the largest degree of control for the innovator?

Accepted Answer

A) Licensing 
B) Joint venture 
C) Internal commercialization 
D) Strategic alliances 
A) Licensing 
B) Joint venture 
C) Internal commercialization 
D) Strategic alliances

Question 7

Some examples of property rights include:

Accepted Answer

A) Copyrights, patents, and trade secrets 
B) Patents, goodwill, and trademarks 
C) Know-how, skills, and trade secrets 
D) Trademarks, copyrights, and tangible assets 
A) Copyrights, patents, and trade secrets 
B) Patents, goodwill, and trademarks 
C) Know-how, skills, and trade secrets 
D) Trademarks, copyrights, and tangible assets

Question 8

Network externalities can be defined as the phenomenon where the value of a product to an individual depends on the number of other people connected to the network

Accepted Answer

A) True 
 B)False

Question 9

For a firm, a strategic window is a period of time when its capabilities need to be aligned with the available opportunities in the market

Accepted Answer

A) True 
 B)False

Question 10

Matsushita's VHS format won against Sony's Betamax format because:

Accepted Answer

A) VHS was significantly superior to Betamax 
B) VHS was slightly superior to Betamax 
C) Matsushita was able to gain acceptability of its standard in the market 
D) Sony opened its standard to all players too early 
A) VHS was significantly superior to Betamax 
B) VHS was slightly superior to Betamax 
C) Matsushita was able to gain acceptability of its standard in the market 
D) Sony opened its standard to all players too early

Question 11

Why is innovation no guarantee of success and fortune?

Accepted Answer

A) Success depends on the value created 
B) Implementation of innovation may be a failure due to internal organizational factors 
C) Success depends on the value created and the portion of that value that the innovator is able to appropriate 
D) Nothing is guaranteed in the corporate world and in life in general 
A) Success depends on the value created 
B) Implementation of innovation may be a failure due to internal organizational factors 
C) Success depends on the value created and the portion of that value that the innovator is able to appropriate 
D) Nothing is guaranteed in the corporate world and in life in general

Question 12

The cycle of innovation has recently:

Accepted Answer

A) Speeded up 
B) Slowed down 
C) Become more aggressive 
D) Become more uncertain 
A) Speeded up 
B) Slowed down 
C) Become more aggressive 
D) Become more uncertain

Question 13

The first automobile, introduced by Benz in 1885, embodied many inventions

Accepted Answer

A) True 
 B)False

Question 14

The Morse telegraph and compact discs are:

Accepted Answer

A) Inventions 
B) Innovations 
C) Both inventions and innovations 
D) Improvement of existing technologies 
A) Inventions 
B) Innovations 
C) Both inventions and innovations 
D) Improvement of existing technologies

Question 15

Codifiable knowledge means that:

Accepted Answer

A) It can be written down 
B) It can be replicated at no cost 
C) It complies with local laws and regulations 
D) It cannot be demonstrated 
A) It can be written down 
B) It can be replicated at no cost 
C) It complies with local laws and regulations 
D) It cannot be demonstrated

Question 16

How can a firm create the conditions for innovation?

Accepted Answer

Innovation is unpredictable and does not

Question 17

To ensure that creativity is productive, the most important factor appears to be a strong linkage between creative processes and market needs

Accepted Answer

A) True 
 B)False

Question 18

For a firm what is a "strategic window"?

Accepted Answer

A) A point in time where its strategic plan needs to be reviewed and redesigned 
B) A point in time where it is the strongest firm in the industry 
C) A period in time when its capabilities are aligned with the opportunities of the market 
D) None of the above 
A) A point in time where its strategic plan needs to be reviewed and redesigned 
B) A point in time where it is the strongest firm in the industry 
C) A period in time when its capabilities are aligned with the opportunities of the market 
D) None of the above

Question 19

Why is an evolutionary strategy's backward compatibility usually an advantage over a revolutionary strategy?

Accepted Answer

A) Companies should never throw away a proven technology - it may be vital 
B) Customers' and suppliers' stocks of hardware and knowledge about old products can still be useful 
C) All revolutionary strategies eventually evolve into evolutionary strategies 
D) Backward compatibility at this stage permits backward compatibility for ever 
A) Companies should never throw away a proven technology - it may be vital 
B) Customers' and suppliers' stocks of hardware and knowledge about old products can still be useful 
C) All revolutionary strategies eventually evolve into evolutionary strategies 
D) Backward compatibility at this stage permits backward compatibility for ever

Question 20

Creating the conditions conducive to innovation is the most important challenge that firms face in technology-based industries

Accepted Answer

A) True 
 B)False

The difference between invention and innovation is

Chester Carlson invented xerography, but was unable for many years to bring it successfully to market. Why?

Is innovation profitable?

The Dyson dual cyclone bagless vacuum cleaner story describes:

Standards are important in an industry because:

Which way of exploiting an innovation leaves the largest degree of control for the innovator?

Some examples of property rights include:

Network externalities can be defined as the phenomenon where the value of a product to an individual depends on the number of other people connected to the network

For a firm, a strategic window is a period of time when its capabilities need to be aligned with the available opportunities in the market

Matsushita's VHS format won against Sony's Betamax format because:

Why is innovation no guarantee of success and fortune?

The cycle of innovation has recently:

The first automobile, introduced by Benz in 1885, embodied many inventions

The Morse telegraph and compact discs are:

Codifiable knowledge means that:

How can a firm create the conditions for innovation?

To ensure that creativity is productive, the most important factor appears to be a strong linkage between creative processes and market needs

For a firm what is a "strategic window"?

Why is an evolutionary strategy's backward compatibility usually an advantage over a revolutionary strategy?

Creating the conditions conducive to innovation is the most important challenge that firms face in technology-based industries

The Concept of Strategy

Goals, Values and Performance

Industry Analysis: the Fundamentals

Further Topics in Industry and Competitive Analysis

Analyzing Resources and Capabilities

Developing Resources and Capabilities

Organization Structure and Management Systems: the Fundamentals of Strategy Implementation

The Nature and Sources of Competitive Advantage

Cost Advantage

Differentiation Advantage

Industry Evolution and Strategic Change

Competitive Advantage in Mature Industries

Vertical Integration and the Scope of the Firm

Global Strategies and the Multinational Corporation

Diversification Strategy

Implementing Corporate Strategy: Management of the Multibusiness Firm

Current Trends in Strategic Management

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Exam 12: Technology-Based Industries and the Management of Innovation

The difference between invention and innovation is

Chester Carlson invented xerography, but was unable for many years to bring it successfully to market. Why?

Is innovation profitable?

The Dyson dual cyclone bagless vacuum cleaner story describes:

Standards are important in an industry because:

Which way of exploiting an innovation leaves the largest degree of control for the innovator?

Some examples of property rights include:

Network externalities can be defined as the phenomenon where the value of a product to an individual depends on the number of other people connected to the network

For a firm, a strategic window is a period of time when its capabilities need to be aligned with the available opportunities in the market

Matsushita's VHS format won against Sony's Betamax format because:

Why is innovation no guarantee of success and fortune?

The cycle of innovation has recently:

The first automobile, introduced by Benz in 1885, embodied many inventions

The Morse telegraph and compact discs are:

Codifiable knowledge means that:

How can a firm create the conditions for innovation?

To ensure that creativity is productive, the most important factor appears to be a strong linkage between creative processes and market needs

For a firm what is a "strategic window"?

Why is an evolutionary strategy's backward compatibility usually an advantage over a revolutionary strategy?

Creating the conditions conducive to innovation is the most important challenge that firms face in technology-based industries

The Concept of Strategy

Goals, Values and Performance

Industry Analysis: the Fundamentals

Further Topics in Industry and Competitive Analysis

Analyzing Resources and Capabilities

Developing Resources and Capabilities

Organization Structure and Management Systems: the Fundamentals of Strategy Implementation

The Nature and Sources of Competitive Advantage

Cost Advantage

Differentiation Advantage

Industry Evolution and Strategic Change

Competitive Advantage in Mature Industries

Vertical Integration and the Scope of the Firm

Global Strategies and the Multinational Corporation

Diversification Strategy

Implementing Corporate Strategy: Management of the Multibusiness Firm

Current Trends in Strategic Management

Filters