Question 1

Quantum innovations are relatively uncommon.

Accepted Answer

Quantum innovations are still in the emerging phase and are not yet widely adopted in many industries. Thus, they are relatively uncommon.

Question 2

At gate one of the stage-gate development funnel, cross-functional managers create a product development plan.

Accepted Answer

False

Question 3

The main innovation problem at The Gap was that front-line managers were given too much authority to innovate.

Accepted Answer

True

Question 4

Creativity can be defined as simply going beyond the current boundaries.

Accepted Answer

Creativity involves expanding upon existing ideas or creating entirely new ones, which inherently involves pushing beyond current boundaries. Therefore, the statement is true.

Question 5

Your text discusses how the VCR industry slipped into the decline stage because of a failure to provide cost effective products.

Accepted Answer

The VCR industry declined primarily due to technological advancements and the rise of DVDs and digital formats, not solely because of a failure to provide cost-effective products.

Question 6

The principles around "project management" are designed more for manufacturing operations, and can actually hinder the creative process.

Accepted Answer

While project management principles may have originated in manufacturing operations, they have since been adapted and applied to a wide range of industries, including creative ones. When applied correctly, project management can help ensure that creative projects are completed efficiently and effectively. However, it is important to adapt the principles to the specific needs and nuances of the creative process in order to avoid stifling creativity.

Question 7

An "intrapreneur" is simply an entrepreneur working inside of an organization.

Accepted Answer

An intrapreneur is an employee who is given resources and freedom to create new products, services, or processes within their company. They have many of the same characteristics as an entrepreneur, but they work within an established organization.

Question 8

The stage-gate funnel is designed to foster innovation because left to their own devices, managers tend not to take on as many projects as they can handle.

Accepted Answer

The stage-gate funnel is designed to manage and control the innovation process, ensuring that resources are allocated efficiently and that only the most promising projects are pursued, rather than encouraging managers to take on more projects than they can handle.

Question 9

Without strong property rights, very few organizations would be willing to invest in innovation.

Accepted Answer

Strong property rights provide incentive for organizations to invest in innovation by providing legal protection for their intellectual property and ensuring that they can reap the benefits of their investments without fear of theft or infringement. Without this protection, organizations may be reluctant to invest in innovation as their ideas and products could be easily copied or stolen without consequence.

Question 10

Product life cycles are becoming shorter as managers focus their resources on innovation to increase customer responsiveness.

Accepted Answer

With the rapid advancements in technology and changing customer preferences, product life cycles are indeed becoming shorter. As a result, businesses are placing greater emphasis on innovation to keep up with competitors and meet the evolving needs of their customers.

Question 11

The growth stage in the product life cycle begins right after the product is introduced to the market.

Accepted Answer

The answer of The growth stage in the product life...

Question 12

The shorter the product life cycle, the more important innovation is to an industry or organization.

Accepted Answer

When the product life cycle is shorter, there is less time for a company to make profits from a product, and therefore, they need to constantly innovate and introduce new products to stay ahead of the competition. Thus, innovation becomes more important in industries or organizations with shorter product life cycles.

Question 13

A lightweight team leader is normally the head of a functional department.

Accepted Answer

A lightweight team leader is usually not the head of a functional department but rather a facilitator of a cross-functional team.

Question 14

A patent gives owners the rights to profit from their creation for a period of 75 years from the date the patent is issued.

Accepted Answer

A patent gives owners the rights to profit from their creation for a period of 20 years from the date the patent is filed.

Question 15

"Creative destruction" is when an organization gets so involved with R&D and creating new products that it neglects its core business activities.

Accepted Answer

"Creative destruction" is actually when new technologies or products disrupt and replace existing ones, leading to the decline or even extinction of the previous product or industry. It is not necessarily related to an organization neglecting its core business activities.

Question 16

It has been estimated that between 12 to 20% of R&D projects result in a product that gets to the market.

Accepted Answer

This is a commonly cited statistic, indicating that only a small percentage of research and development projects result in a successful product that reaches the market.

Question 17

Innovation is associated with a high level of risk.

Accepted Answer

Innovation by definition involves introducing something new or different, and often requires significant investment of time and resources. Therefore, there is a higher level of uncertainty and risk associated with innovation as compared to maintaining the status quo. However, successful innovation can also lead to great rewards and benefits, both for individuals and organizations.

Question 18

The invention of the microchip by Intel is considered to be a quantum innovation.

Accepted Answer

The invention of the microchip by Intel is considered to be a quantum innovation as it revolutionized the field of electronics and paved the way for the development of modern computers and other electronic devices.

Question 19

TQM is an example of an incremental innovation.

Accepted Answer

TQM (Total Quality Management) is a management philosophy that focuses on continuous improvement and customer satisfaction. It is an example of incremental innovation because it involves gradually improving existing processes and systems rather than creating something entirely new.

Question 20

The Gap used innovation to develop a more cost effective production process for its clothing line.

Accepted Answer

The answer of The Gap used innovation to develop a...

Quiz 13: Managing Innovation, Intrapreneurship, and Creativity