Question 1

Which of these types of new product innovations is least common?:&#10;A)New to the world&#10;B)New product lines&#10;C)Extensions to existing product lines&#10;D)Cost reductions

Accepted Answer

"New to the world" products are the least common type of new product innovations because they represent entirely new markets or create markets where none existed before. These innovations require significant research and development, carry higher risks, and are less frequent compared to other types of innovations such as product line extensions or cost reductions, which build on existing products or processes.

Question 2

'Open innovation' can only operate across web-based platforms - true or false?

Accepted Answer

Open innovation can also take place through face-to-face interactions and other forms of communication beyond web-based platforms.

Question 3

Accidents and mistakes can be a powerful source of innovation - true or false?

Accepted Answer

False

Question 4

'Bottom of the pyramid' innovation refers to ancient Egyptian approaches to new product development - true or false?

Accepted Answer

'Bottom of the pyramid' innovation actually refers to modern approaches to new product development that focus on creating affordable and accessible products and services for low-income consumers in emerging markets. It has no connection to ancient Egyptian approaches.

Question 5

Unskilled employees can never be a source of innovation - true or false?

Accepted Answer

Unskilled employees can be a source of innovation if they are given the opportunity to learn and their ideas are encouraged and valued by the organization. Innovation can come from anyone, regardless of their level of skill or experience.

Question 6

Which of these is not a stage in the Abernathy/Utterback model of innovation life cycle?:&#10;A)Fluid&#10;B)Transitional&#10;C)Holiday&#10;D)Specific

Accepted Answer

The Abernathy/Utterback model identifies two main stages of innovation life cycle - fluid and specific - along with a transitional phase in between. The model also suggests that there can be cyclical shifts between these stages. However, there is no mention of a holiday stage in this model.

Question 7

Which of these is not a form of customization?&#10;A)Design&#10;B)Fabrication&#10;C)Assembly&#10;D)Travel

Accepted Answer

Travel is not a form of customization. Design, fabrication, and assembly all involve creating or modifying a product to meet specific needs or preferences. Travel, on the other hand, is a form of leisure activity or business trip that may involve personalization but not customization in the traditional sense.

Question 8

Copying and imitating others is not a source of innovation - true or false?

Accepted Answer

While copying and imitating others may not be considered original innovation, it can still be a valuable source of learning and improvement. It can also lead to the adaptation and improvement of existing ideas, which can in turn lead to true innovation. Therefore, the answer is false.

Question 9

Innovation does not always need to push the frontier - sometimes established ideas in one sector can represent powerful new directions for another.True or false?

Accepted Answer

This statement is true. Established ideas from one sector can often inspire new ideas and directions in another sector, leading to innovative solutions and breakthroughs. Examples of such cross-sector innovation include using machine learning techniques from computer science to analyze medical data for better diagnosis and treatment, or utilizing design principles from architecture to create more efficient and functional urban spaces.

Question 10

Copying and imitating others is not a source of innovation - true or false?

Accepted Answer

Copying and imitating others can lead to innovation when the copied ideas are combined and modified in new ways, leading to new products and processes. However, direct copying without any modification is not considered innovation.

Question 11

Which of these approaches is not a way of harnessing open innovation across the internet?&#10;A)Innovation contests&#10;B)Innovation communities&#10;C)Online storage&#10;D)Innovation markets

Accepted Answer

The answer of Which of these approaches is not a...

Deck 6: Sources of Innovation