Exam 12: Global Innovation and Intellectual Property

Which of the following is a difference between innovation and an invention?

The need for individuals to understand local market problems, to reach out to others globally to search for unique solutions to the problem, and to uncover the causal relationships found within that foreign knowledge to ensure it is correctly applied to the local problems is referred to as the _____.

RandomGoodies, a departmental store, wants to reach the lower-income segment of the market as it knows that most people in developing economies are unable to afford highly priced goods. To accomplish efficiency-enhancing innovation, the store limits the number of products in the store. It also sources its products from low-cost suppliers. Which of the following statements is true in this scenario?

Renu, who runs a drama academy, has conceptualized and created a drama sequence based on historical facts. The creation of this epic drama is unique and nothing close to what people have witnessed before. In this scenario, Renu's drama is eligible for a _____.

Which of the following is a difference between efficiency-enhancing innovations and market-creating innovations?

The research team at Life's On Laboratories have been working on the creation of new medicine that could effectively treat Alzheimer's disease at a faster rater without facing the side effects that are usually caused by the existing medicines. After a decade-long research, the team at Life's On successfully formulated a unique composition to treat the disease, which would make a significant contribution to the healthcare industry. In this scenario, the new and unique medicine developed by the research team at Life's On Labs exemplifies _____.

At RedForum Technologies, every employee from the mid-seniority level onward is expected to deliver at least seven working days a month toward the activities organized by the company to serve its corporate social responsibility. This initiative by RedForum highlights its _____.

The management at Graphon Systems believes in performance-improving innovations. It makes its design team work on the existing models of the company's products to innovate newer versions of the same products that would possess an enhanced look and have greater functional aspects. Which of the following statements is true in this scenario?

After an overseas research and development (R&D) location is selected, the next step is to select the right site leader. If you had to choose between a local who is unlikely to understand the company's culture but understands the country's culture and a person from the home country who understands the company's culture but not the local culture, whom would you choose as the site leader? Give reasons to support your answer.

Which of the following steps of the innovator's imperative helps to fertilize local ideas by improving the root structure?

When technical problems started occurring at the site where electronic devices were set up by the engineers of JKLT Tech, the engineers visited the site and examined how the local consumers were using the devices. This helped them identify the underlying issues that they otherwise wouldn't have been able to understand. Next, the engineers at the local unit wanted to consult the people at their headquarters to help them with examining the problem from a different perspective. This act by the engineers exemplifies the _____ step of the innovator's imperative.

Leminco Corp. has launched a specialized health drink for diet-conscious people. It wants to keep the formula of the drink a trade secret. Which of the following statements is true in this scenario?

In the context of the various modes that businesses use to keep their intellectual property safe, which of the following is most likely to be granted a copyright?

Suppose you are a technical lead in a company. You are approached by a team of small researchers who want your design team to work out a solution for one of their technical issues. You know that working out a solution would require you and your team to go beyond the usual workflow of the company. In the context of the innovator's imperative, briefly explain how you would go beyond the usual company workflow pattern in order to drive innovation.

In the context of the steps of the innovator's imperative, which of the following is a difference between going local and reaching out?

A _____ is the unique combination of a company's vision, values, norms, systems, symbols, language, assumptions, beliefs, and habits.

In the context of protecting intellectual property, which of the following is a disadvantage of having a trade secret for a tangible product?

In the context of the various modes that businesses use to keep their intellectual property safe, which of the following is a difference between a patent and a copyright?

Jillone Technocraft has developed a new kind of couch that can be converted into bedding without the efforts of having to pump air in or out. The new technology behind the making of this couch is unique and a complete innovation by the design team at Jillone. Although the company is not sure how effective it will be in attracting a new customer base, it is still confident and wants to take the risk. Which of the following is most likely the reason Jillone has chosen to incorporate market-creating innovation?

Frido Innovative Techno has several regional research and development centers spread across the world. The firm believes that its centers around the world can lead to continued innovation as the centers can concentrate on the demands within their particular regions. However, it has been observed that there is a serious lack of communication among the workers at the various regional centers. As a result, they are working on similar problems without sharing their results. Which of the following is most likely to happen in this scenario?