Exam 17: Managing Technology and Innovation

Innovation will spread faster if it has which of the following?

Early adopters of new technologies tend to be

The two fundamental types of innovation include

Scenario B. Your organization is at a critical growth stage with regard to its technology. A team of three people have been assigned specific jobs by the CTO. The assignments are: 1. Study the key technologies which are critical for the organization. Find out which technologies are industry standards and which are currently being developed. 2. Look at other companies that are successful and identify ways in which your organization can emulate the practices of the other companies. 3. Find out what's coming in your industry. Be an "industry detective"--everything from reading up on industry reports to attending meetings and listening closely to what people are talking about. -In the scenario described above,job 1 is an example of

Which of these technologies are still under development and thus are unproved?

Ivory International,a machine tool manufacturing company is very concerned about competitive advantage in their industry.They should know that ______ technologies provide little competitive advantage.

A focused organizational effort to create a new product or process via technological advances is called

Calipre International carefully watches the actions of its most innovative competitor and learns from it.Calipre is most likely following a low-cost strategy by

A predictable pattern followed by a technological innovation starting from its inception and development to market saturation and replacement is called a(n)

The product life cycle is a predictable pattern followed by a technological innovation,from its inception and development to market saturation and replacement.

For which of the following reasons might a firm choose to trade technology?

Scenario D. Power Man Nutrition develops performance based foods and beverages for athletic and active individuals. In a recent product development meeting, Bob suggested that Power Man acquire a newly developed, technology for infusing vitamin and mineral blends into food, created by PharmCo. Bob believes that Power Man should attain this technology because it would be easiest to acquire the technology straight from PharmCo. Gary, although supportive of this idea, feels that the method of infusing blends in the next generation of Power Man bar should be kept exclusive. Gary knows it may take longer to produce the technology and the power bar, but feels that the competitive advantage and exclusivity of the technology is worth the wait. Finally, Joy suggested that Power Man should work jointly with PharmCo to create a brand new technology and product. Joy liked Bob's idea of incorporating the latest technology however, Joy feels that Power Man does not possess sufficient financial resources to purchase the technology outright. -Joy's argument that Power Man does not have adequate financial resources to purchase the technology suggests that she favors which method of acquiring technology?

Scenario C. Suppose you work for a software design firm. The organization is very large and you work in a small department that is charged with initiating new ideas for software products for the children's market. You believe that children want the option of less realistic and more imagination-based computer programs. This is not the current trend in your industry but despite that, you develop a software package, appealing to boys and girls, which fosters creativity and uses the child's imagination to create make-believe futures for themselves. The children get to imagine themselves as a professional baseball player or as a CEO. Your manager is surprised by the idea when you show her the developed product. However, she believes that it is a good idea, but will be hard to sell to upper management. On your first presentation to senior management, your idea is "killed." However, there is one Vice President who was not at the presentation. You and your manager make an appointment, pitch the idea and are thrilled when the VP says he will go back to the leadership of the organization to fight for your product. -In this scenario,the Vice President's role would be described as the

Which of the following describes an executive champion?

One advantage of technology leadership is a first-mover advantage.

Emerging technologies are those that have proven effective,but they also provide a strategic advantage because not everyone uses them.

Top Tools learns from the leader in the tool field,Custom Tools.As a technology follower,Top Tools most likely establishes product differentiation by

______ suggests whether there is a good financial incentive for "pulling off" a technological innovation.

Often isolated and highly conservative in their views,______ are extremely suspicious of innovation and change.

Technology is embedded in every product,service and procedure used or produced.