Question 1

It is wise to manage the creative departments in a firm separately from the operational departments.

Accepted Answer

A) True 
 B)False  True

Question 2

Firms innovate because they are seeking

Accepted Answer

A) Market share. 
B) leadership of the industry. 
C) a competitive advantage. 
D) lower costs. 
A) Market share. 
B) leadership of the industry. 
C) a competitive advantage. 
D) lower costs. C

Question 3

Which exploitation strategy is best for an innovation depends entirely on whether the innovator prefers to licence out the underlying patent or copyright.

Accepted Answer

A) True 
 B)False  False

Question 4

Inventions are the creation of

Accepted Answer

A) new products based on new technology. 
B) new products or processes, often based on existing technology and know-how. 
C) usually several decades of research. 
D) individual scientists or engineers, working alone. 
A) new products based on new technology. 
B) new products or processes, often based on existing technology and know-how. 
C) usually several decades of research. 
D) individual scientists or engineers, working alone.

Question 5

Technological uncertainty means

Accepted Answer

A) uncertainty as to which technical standards will be adopted or emerge. 
B) the uncertainty from it not being possible to predict how long it may take or even whether a technical problem will be solved. 
C) the uncertainty of whether a rival is secretly developing the same technology more quickly. 
D) all of the above. 
A) uncertainty as to which technical standards will be adopted or emerge. 
B) the uncertainty from it not being possible to predict how long it may take or even whether a technical problem will be solved. 
C) the uncertainty of whether a rival is secretly developing the same technology more quickly. 
D) all of the above.

Question 6

Standards are important in an industry because

Accepted Answer

A) they underpin interoperability (where relevant)and facilitate industry growth. 
B) every industry needs a market leader. 
C) they are imposed by the government and have the force of law behind them. 
D) most industries cannot effectively function without standards. 
A) they underpin interoperability (where relevant)and facilitate industry growth. 
B) every industry needs a market leader. 
C) they are imposed by the government and have the force of law behind them. 
D) most industries cannot effectively function without standards.

Question 7

Having a patent is NOT much use if a rival is expert enough to quickly come up with an alternative way to achieve the same thing.

Accepted Answer

A) True 
 B)False

Question 8

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 9

The main factors in determining whether the innovator can make a good profit from an innovation are luck, and good timing.

Accepted Answer

A) True 
 B)False

Question 10

Cooperation with lead users is

Accepted Answer

A) a risk because they may imitate the innovation themselves. 
B) a burden to costs and times the time of key people, so is best avoided unless they insist. 
C) essential in some cases to ensure development follows a path which customers actually want. 
D) useful because it makes the customer feel important. 
A) a risk because they may imitate the innovation themselves. 
B) a burden to costs and times the time of key people, so is best avoided unless they insist. 
C) essential in some cases to ensure development follows a path which customers actually want. 
D) useful because it makes the customer feel important.

Question 11

The extent to which an innovation can be imitated by a competitor depends on

Accepted Answer

A) whether the competitors' experts are as clever as our experts. 
B) whether a competitor can get a photocopy of the patent details. 
C) how ruthless the competitor is. 
D) how possible it is for the competitors' experts to comprehend, codify and replicate the technology. 
A) whether the competitors' experts are as clever as our experts. 
B) whether a competitor can get a photocopy of the patent details. 
C) how ruthless the competitor is. 
D) how possible it is for the competitors' experts to comprehend, codify and replicate the technology.

Question 12

The effectiveness of the different laws used to protect property rights depends on

Accepted Answer

A) the country in which a firm wants to protect its property rights. 
B) the role of specialized state agencies in that protection. 
C) the state of the economy. 
D) the type of innovation that is being protected. 
A) the country in which a firm wants to protect its property rights. 
B) the role of specialized state agencies in that protection. 
C) the state of the economy. 
D) the type of innovation that is being protected.

Question 13

An innovation which comes to dominate the market does NOT always lead to superior profits for the innovator.

Accepted Answer

A) True 
 B)False

Question 14

Why is innovation no guarantee of success and fortune for the innovator?

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 sufficient value being created and a sufficient portion of that value being appropriated by the innovator. 
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 sufficient value being created and a sufficient portion of that value being appropriated by the innovator. 
D) Nothing is guaranteed in the corporate world and in life in general.

Question 15

If a firm or a person secures a patent, then commercial success is assured.

Accepted Answer

A) True 
 B)False

Question 16

Most inventions are based on new technology.

Accepted Answer

A) True 
 B)False

Question 17

Innovation must involve the attempted commercialisation of a new invention, or new idea.

Accepted Answer

A) True 
 B)False

Question 18

The choice of a strategy to exploit innovation depends on two factors:

Accepted Answer

A) luck and past experience in the industry. 
B) characteristics of the innovation and a firm's financial resources. 
C) characteristics of the innovation and a firm's resources and capabilities. 
D) the nature of the innovation, and how large the firm is. 
A) luck and past experience in the industry. 
B) characteristics of the innovation and a firm's financial resources. 
C) characteristics of the innovation and a firm's resources and capabilities. 
D) the nature of the innovation, and how large the firm is.

Question 19

Industry standard solutions always appear.

Accepted Answer

A) True 
 B)False

Question 20

Firms innovate because

Accepted Answer

A) the human race is naturally inventive. 
B) competitive advantages tend to erode over time - so new ones need to be found. 
C) consumers are always looking for the next new gadget. 
D) it gets boring doing the same old things. 
A) the human race is naturally inventive. 
B) competitive advantages tend to erode over time - so new ones need to be found. 
C) consumers are always looking for the next new gadget. 
D) it gets boring doing the same old things.

It is wise to manage the creative departments in a firm separately from the operational departments.

Firms innovate because they are seeking

Which exploitation strategy is best for an innovation depends entirely on whether the innovator prefers to licence out the underlying patent or copyright.

Inventions are the creation of

Technological uncertainty means

Standards are important in an industry because

Having a patent is NOT much use if a rival is expert enough to quickly come up with an alternative way to achieve the same thing.

The cycle of innovation has recently

The main factors in determining whether the innovator can make a good profit from an innovation are luck, and good timing.

Cooperation with lead users is

The extent to which an innovation can be imitated by a competitor depends on

The effectiveness of the different laws used to protect property rights depends on

An innovation which comes to dominate the market does NOT always lead to superior profits for the innovator.

Why is innovation no guarantee of success and fortune for the innovator?

If a firm or a person secures a patent, then commercial success is assured.

Most inventions are based on new technology.

Innovation must involve the attempted commercialisation of a new invention, or new idea.

The choice of a strategy to exploit innovation depends on two factors:

Industry standard solutions always appear.

Firms innovate because

The Concept of Stategy

Industry Analysis

Resources and Capabilities

The Nature and Sources of Competitive

Industry Evolution and Strategic Change

Corporate Stategy

Realizing Stategy

Global Strategies and the Multinational Corporation

Corporate Responsibility

Filters

Exam 6: Technology-Based Industries and the Management of Innovation

It is wise to manage the creative departments in a firm separately from the operational departments.

Firms innovate because they are seeking

Which exploitation strategy is best for an innovation depends entirely on whether the innovator prefers to licence out the underlying patent or copyright.

Inventions are the creation of

Technological uncertainty means

Standards are important in an industry because

Having a patent is NOT much use if a rival is expert enough to quickly come up with an alternative way to achieve the same thing.

The cycle of innovation has recently

The main factors in determining whether the innovator can make a good profit from an innovation are luck, and good timing.

Cooperation with lead users is

The extent to which an innovation can be imitated by a competitor depends on

The effectiveness of the different laws used to protect property rights depends on

An innovation which comes to dominate the market does NOT always lead to superior profits for the innovator.

Why is innovation no guarantee of success and fortune for the innovator?

If a firm or a person secures a patent, then commercial success is assured.

Most inventions are based on new technology.

Innovation must involve the attempted commercialisation of a new invention, or new idea.

The choice of a strategy to exploit innovation depends on two factors:

Industry standard solutions always appear.

Firms innovate because

The Concept of Stategy

Industry Analysis

Resources and Capabilities

The Nature and Sources of Competitive

Industry Evolution and Strategic Change

Corporate Stategy

Realizing Stategy

Global Strategies and the Multinational Corporation

Corporate Responsibility

Filters