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An innovation ecosystem is a f...View Answer
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A) Standards emerge exclusively from bottom-up through competition in the marketplace.
B) As the size of a market expands, a standard signals the market's agreement on a common set of engineering features and design choices.
C) Standards are exclusively imposed top-down by government or other standard-setting agencies such as the Institute of Electrical and Electronics Engineers.
D) After a standard is established in an industry, the basis of competition tends to move away from process innovations toward product innovations.
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Invention describes the transformation o...View Answer
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A) The consumer demand increases.
B) The prices of goods begin to rise.
C) The basis of competition moves away from process innovation.
D) The number of competitors decreases.
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A) Combining the best of internal and external R&D will more likely lead to a competitive advantage.
B) Almost 40 percent of sales comes from 80 percent of product selection found in the short head.
C) The low end of a market is highly vulnerable to competitive attacks.
D) Since the best people, the smartest people in the industry work for P&G, the best discoveries must be invented at P&G.
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A) Diseconomies of scale
B) Resource ambiguity
C) Thin markets
D) Buyer resistance
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A) idea generation.
B) invention.
C) idea testing.
D) imitation.
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A) exits the industry by bankruptcy or liquidation.
B) invests significant resources in product innovations.
C) buys out its rivals to strengthen its strategic position.
D) reduces investments in product support.
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A) They make up the largest market segment.
B) They are the customer segment in the maturity stage of the industry lifecycle.
C) They are highly price conscious buyers.
D) They enjoy using beta versions of products and providing feedback to companies.
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A patent is a form of intellectual prope...View Answer
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A) Laggards
B) Technology enthusiasts
C) Early adopters
D) Early majority
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A) There are only a few competitors in the 3D television market.
B) The number of buyers in the market is high.
C) The prices of 3D televisions will be lowest during this stage.
D) The barriers to entry are low in the industry.
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A) When it cannot attract technological enthusiasts to try the beta versions of its products
B) When it creates strong network effects during the growth stage
C) When it fails to successfully launch a mass-market version of its product
D) When the early majority create herding effects for its products
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A) They make up the largest customer segment for any business.
B) They tend to enter the market frequently during the decline stage.
C) They do not like waiting too long for new technology to release.
D) They are customers who adopt a new product even if it is not necessary.
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Laggards are customers who adopt a new p...View Answer
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A) When production is increased by 80 percent, the decrease in cost is close to 20 percent due to economies of scale.
B) To gain a competitive advantage, it is necessary for a business to internalize 80 percent of its R&D, and outsource the remaining 20 percent.
C) For an incumbent firm, 80 percent of its revenue comes from existing customers, and new customers account for the remaining 20 percent.
D) Almost 80 percent of sales in a given product category come from only 20 percent of the offerings in that category.
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A) The framework believes that the life cycle of industries is unpredictable.
B) The framework does not explain everything about changes in industries.
C) The framework is based on the tenet that industries can be rejuvenated even in the declining stage.
D) The framework believes that the number and size of competitors remain constant throughout the life cycle.
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A) regressive innovation
B) radical innovation
C) architectural innovation
D) disruptive innovation
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A) decreasing capability of external suppliers and vendors.
B) lack of reliability on venture capital.
C) increasing need to internally control research and development.
D) increasing supply and mobility of skilled workers.
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A) their business decisions are independent of the other parties in their innovation ecosystem.
B) radical innovation will disturb the existing power distribution within the firms.
C) incumbent firms do not have formal organizational structures and processes like the way new entrants do.
D) incremental innovations help firms sustain a permanent competitive advantage, whereas radical innovations only help gain a temporary advantage.
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