Quiz Innovation Essay Example

Quiz Innovation Essay Example Quiz Innovation Essay Quiz Innovation Essay Quiz No 3Version: A Name__________________Student Number______________ 1. The globalization of markets and the importance of innovation are independent of one another. 2. Flexible manufacturing technologies have increased the importance of production economies of scale. 3. Innovation and new technology have led to longer product life cycles as better quality products are being produced. 4. The increased pace of innovation has only had a negligible effect on market segmentation and product obsolescence. 5. Slow innovation results in diminishing margins and product obsolescence. 6. Technological innovation can have a positive impact on our quality of life through improved goods and services. 7. Technology’s effects on society are always positive. 8. Technology in its purest form is not knowledge, but rather faith that things will get better. 9. Firms that charge headlong into new product development usually have short development cycles. 10. Studies have revealed that innovation is a freewheeling process that is unconstrained by rules and plans. 11. Sometimes knowing a field too well can stifle creativity. 12. The organization’s structure, routines, and incentives can thwart individual creativity, but not amplify it. 13. Sometimes paying people for suggestions undermines creativity because it focuses their shift on extrinsic motivation. 14. Though a generalist by nature, inventors are specialists in the field in which they invent. 15. Innovation often originates with those who create solutions for their own needs. 16. The qualities that make people inventive do not necessarily make them entrepreneurial. 17. Manufacturers typically create new product innovations in order to profit from the sale of the innovation to customers. 18. Firms consider their in-house RD to be their least important source of innovation, but still feel it is necessary to possess. 19. The most frequent collaborations are between firms and their customers, suppliers, and local universities. 20. A complementor is a company or individual that produces goods or services that enhance the value of another product. 21. The path a technology follows through time is termed its technology map. 22. Product innovation can enable process innovation. 23. The radicalness of an innovation is absolute. 24. Radical innovation entails changing the overall design of the system or the way that components interact with each other. 25. In order to initiate a component innovation, a firm requires knowledge about the way components link and integrate to form the whole system. 26. A technology’s S-curve of performance improvement is unrelated to its S-curve of diffusion. 27. The S-curve in technological improvement is a plot of performance against effort and money invested in that technology. 8. Until a new technology has established a degree of legitimacy, it may be difficult to attract other researchers to participate in its development. 29. Technologies always get the opportunity to reach their performance limits before being replaced by a new technology. 30. â€Å"Moore’s Law† refers to the rapidly increasing density of transistors on integrated circuits that enabled microprocessor performance to increase dramatically. This increase in density is expected to always continue at the same rate.