Question 1

Incremental technological change refers to a fundamental shift in technology that revolutionizes products or the way in which they are produced.

Accepted Answer

Incremental technological change refers to small, gradual improvements in technology that build upon existing products or processes, rather than completely revolutionizing them.

Question 2

The growth stage of the product life cycle comes immediately after the mature stage.

Accepted Answer

The growth stage comes after the introduction stage and before the mature stage in the product life cycle.

Question 3

Patents confer a monopoly right on their owner.

Accepted Answer

Patents grant their owners the exclusive right to manufacture, use, and sell an invention for a certain period of time, typically 20 years from the filing date of the patent application. This exclusive right is a form of monopoly.

Question 4

Copyrights last for much longer periods than patents, often the lifetime of the work's creator
and beyond.

Accepted Answer

Copyrights typically last for the lifetime of the work's creator plus a certain number of years after their death, which varies by country. In the US, for example, copyrights can last up to 70 years after the creator's death. This is much longer than a patent, which typically lasts for 20 years from the date of application.

Question 5

The new product development plan submitted during stage 2 of a stage-gate development funnel is reviewed by a cross-functional team of managers to review its fit with the goals and strategies of the organization.

Accepted Answer

The answer of The new product development plan submitted during...

Question 6

According to Philip Anderson and Michael Tushman, technological discontinuities result due to incremental innovation.

Accepted Answer

According to Anderson and Tushman, technological discontinuities typically result from radical innovations, not incremental ones.

Question 7

Demand for a product peaks during the mature stage of the product life cycle.

Accepted Answer

During the mature stage of the product life cycle, demand for the product is typically high due to increased consumer awareness and competition, as well as established distribution channels.

Question 8

The critical path method is generally used to identify the best marketing strategy for the product.

Accepted Answer

The critical path method is a project management tool used to identify the sequence of tasks that need to be completed to reach the project's goals on time. It is not specifically used for marketing strategy development.

Question 9

Intrapreneurs are entrepreneurs inside an organization who are responsible for the success or failure of a project.

Accepted Answer

Intrapreneurs are employees of an organization who act like entrepreneurs by taking ownership and responsibility for a project, and are therefore responsible for its success or failure.

Question 10

As compared to quantum innovations, incremental innovations are more likely to cause major changes in an environment and to increase uncertainty.

Accepted Answer

Incremental innovations involve small improvements or modifications to existing products, services or processes, which usually have a lower level of uncertainty and risk. Quantum innovations, on the other hand, involve a fundamentally new approach or technology, and therefore have much higher levels of uncertainty and potential impact.

Question 11

Trademarks give their owner the sole legal right to use certain names or symbols and control the use to which they are put.

Accepted Answer

Trademarks are registered intellectual property that give the owner exclusive rights to use certain names, symbols or logos in connection with the goods or services they provide. This means that other businesses cannot use the same or similar marks in ways that could cause confusion among customers or dilute the value of the brand. The trademark owner can also sue to enforce their rights and stop others from using their marks without permission.

Question 12

Copyrights last for much smaller periods than patents.

Accepted Answer

Copyrights generally last for the life of the author plus an additional 70 years after their death, which is significantly longer than the typical 20-year term for patents.

Question 13

Copyrights are typically granted to people who create intellectual property, such as written or visual works such as books, videogames, poems, and songs.

Accepted Answer

This is correct. Copyrights are legal protections granted to creators of original works of authorship, including written and visual works such as books and videogames, as well as musical compositions and films.

Question 14

The embryonic stage comes after the growth stage in a product life cycle.

Accepted Answer

The embryonic stage comes before the growth stage in a product life cycle.

Question 15

During the growth stage of the product life cycle many consumers enter the market and buy the product for the first time.

Accepted Answer

During the growth stage, the product becomes more widely adopted and attracts new customers who are trying the product for the first time.

Question 16

A patent is valid for a period of 75 years from the date it is issued by the U.S. Patent Office.

Accepted Answer

A patent is valid for a period of 20 years from the date of filing of the patent application, or in the case of certain types of patents, 15 years from the date of issue. After that period, the invention falls into the public domain and can be used by anyone without permission or payment to the inventor.

Question 17

TQM is an example of an incremental innovation.

Accepted Answer

TQM (Total Quality Management) is a management approach that aims to improve quality and performance in organizations by involving all employees in continuous improvement efforts. It is considered an incremental innovation because it involves continuous improvements in processes and systems, rather than a radical or disruptive change.

Question 18

An organization in which innovation is going on at all hierarchical levels and across all functions and divisions is known as a collateral organization.

Accepted Answer

A collateral organization is actually one in which different departments or units may have similar goals but operate independently of each other. This can hinder collaboration and innovation across the entire organization. A more appropriate term for an organization that fosters innovation at all levels and functions is a "innovative organization" or a "creative organization".

Question 19

The most important determinant of the length of a product's life cycle is the rate of technological change.

Accepted Answer

The rate of technological change is the most significant factor in determining the length of a product's life cycle. As technology advances, new and improved products are created, which can quickly replace existing products, leading to shorter product life cycles. Conversely, slower technological advancements may result in longer life cycles for products.

Question 20

Quantum technological change refers to the improvements that are continuously made to particular technologies over time.

Accepted Answer

Quantum technological change specifically refers to the development and application of quantum technologies, which are fundamentally different from traditional technologies and therefore require a different approach to improvement and advancement.

Quiz 13: Innovation, Intrapreneurship, and Creativity