Question 1

A PERT/CAM network would most likely be used during ________.

Accepted Answer

PERT/CAM network (Program Evaluation and Review Technique/Critical Path Method) is commonly used in project management to plan, schedule, and manage tasks involved in a project. It helps to identify the critical path of the project, which is a sequence of tasks that need to be completed on time for the project to be completed within the deadline. Therefore, PERT/CAM network would most likely be used during project management.

Question 2

Amazon.com's addition of CD's and gifts represents ________.

Accepted Answer

The addition of new product categories (CDs and gifts) by Amazon.com is not a revolutionary change as the company was already selling books online. It is also not a quantum innovation as it does not introduce a completely new technology or business model. Instead, it is an incremental innovation as it expands the range of products offered by the company without fundamentally changing its business model.

Question 3

VCRs are currently at which stage in the product life cycle?

Accepted Answer

VCRs are currently in decline stage of the product life cycle as they have been replaced by newer technologies such as Blu-Ray players, streaming devices, and digital downloads. Sales of VCRs have significantly decreased and are no longer being produced by major manufacturers.

Question 4

Smartphones and iPods are currently at which stage in the product life cycle?

Accepted Answer

The answer of Smartphones and iPods are currently at which...

Question 5

The leaders of innovation and new product development in established organizations are called ________.

Accepted Answer

Intrapreneurs are individuals who lead innovation and new product development within established organizations. They possess an entrepreneurial mindset and take risks to drive growth and change within their organizations. Team leaders, entrepreneurs, and project managers may also be involved in innovation and new product development, but the specific role of leading these efforts within an established organization is typically referred to as intrapreneurship.

Question 6

What is a knowledge creating organization?

Accepted Answer

A knowledge creating organization is one in which innovation is occurring at all levels of the organization. This includes not only research and development departments but also front-line workers who have unique insights and ideas. Intrapreneurs, or employees who act as entrepreneurs within the company, can also contribute to the creation of new knowledge and innovation. While providing a knowledge service like a web search engine can be helpful, it does not necessarily make the organization a knowledge creating one.

Question 7

Which of the following products or industries has the longest product life cycle?

Accepted Answer

Electric power has been in use for over a century and its demand continues to grow, making it a product with a very long life cycle. This is due to the fact that it is a basic necessity for modern society and is essential for many industries as well.

Question 8

A stage-gate development funnel typically has ________ gates.

Accepted Answer

The answer of A stage-gate development funnel typically has ________...

Question 9

How long is the product life cycle estimated to be in the PC industry today?

Accepted Answer

The answer of How long is the product life cycle...

Question 10

Which of the following products or industries has the shortest product life cycle?

Accepted Answer

The answer of Which of the following products or industries...

Question 11

In which part of the stage-gate model would a proposal be reviewed in terms of its technical feasibility or its fit with the organizational strategy?

Accepted Answer

The answer of In which part of the stage-gate model...

Question 12

What is the first step in the project management process?

Accepted Answer

The first step in the project management process is to develop a clear plan to take the product from its concept phase to market. This involves defining the project scope, objectives, and deliverables, as well as identifying resources, timelines, and risks. Without a clear plan in place, it is difficult to effectively manage and execute the project. The other options listed (B, C, and D) are important components of project management, but they typically come later in the process after the initial planning stage.

Question 13

How long is the product life cycle estimated to be in the auto industry today?

Accepted Answer

The product life cycle in the auto industry is estimated to be 5 years, which means that a new model is usually introduced every 5 years. This is due to increasing competition, changing consumer preferences, and advancements in technology. While some models may have a longer lifespan, the overall trend in the industry is towards shorter product life cycles. Choices A, B, and D are incorrect as they do not reflect the current reality in the auto industry.

Question 14

Why did The Gap have trouble managing the innovation process?

Accepted Answer

The answer of Why did The Gap have trouble managing...

Question 15

What does the term "creative destruction" refer to?

Accepted Answer

"Creative destruction" refers to the process where new, innovative companies or products displace older, less efficient ones in the market. This can be seen as a positive force for progress and innovation in a capitalist economy.

Question 16

If the typical consumer for a product purchases the product as a replacement, such as upgrading a computer or getting a new car, that product is considered to be in what stage of the life cycle?

Accepted Answer

When consumers purchase a product as a replacement, it indicates that the product has already penetrated the market and reached a level of saturation. This typically happens in the maturity stage of the product life cycle.

Question 17

A stage-gate development funnel typically has ________ stages.

Accepted Answer

The answer of A stage-gate development funnel typically has ________...

Question 18

"Creative destruction" is when:

Accepted Answer

Creative destruction refers to the process by which new and innovative companies or technologies disrupt and displace older, less efficient ones. This is often seen as a necessary part of progress and economic growth, but can also result in job loss and other negative effects. Option A is incorrect because it describes a situation where the creative process becomes too important, rather than disrupting existing businesses. Option C is partially correct, but the key aspect of creative destruction is the emergence of new entities rather than an organization making its own product lines obsolete. Option D is also incorrect, as entrepreneurs may start their own companies for a variety of reasons unrelated to creative destruction.

Question 19

Which innovation technique is most likely to ensure that projects receive the necessary funding?

Accepted Answer

The stage-gate development funnel is a structured process that helps to ensure that projects receive the necessary funding. It involves a series of stages, each of which has specific criteria that must be met before the project can proceed to the next stage. This process helps to ensure that projects are well-defined and have a clear path to success before they receive funding.

Question 20

Automobiles are currently at which stage in the product life cycle?

Accepted Answer

Automobiles have been around for over a century and are now in the maturity stage of the product life cycle. This means that the market is saturated and growth has slowed down, but the product is still widely used and there is a large market for replacement purchases and upgrades.

Quiz 13: Managing Innovation, Intrapreneurship, and Creativity

A PERT/CAM network would most likely be used during ________.

Amazon.com's addition of CD's and gifts represents ________.

VCRs are currently at which stage in the product life cycle?

Smartphones and iPods are currently at which stage in the product life cycle?

The leaders of innovation and new product development in established organizations are called ________.

What is a knowledge creating organization?

Which of the following products or industries has the longest product life cycle?

A stage-gate development funnel typically has ________ gates.

How long is the product life cycle estimated to be in the PC industry today?

Which of the following products or industries has the shortest product life cycle?

In which part of the stage-gate model would a proposal be reviewed in terms of its technical feasibility or its fit with the organizational strategy?

What is the first step in the project management process?

How long is the product life cycle estimated to be in the auto industry today?

Why did The Gap have trouble managing the innovation process?

What does the term "creative destruction" refer to?

If the typical consumer for a product purchases the product as a replacement, such as upgrading a computer or getting a new car, that product is considered to be in what stage of the life cycle?

A stage-gate development funnel typically has ________ stages.

"Creative destruction" is when:

Which innovation technique is most likely to ensure that projects receive the necessary funding?

Automobiles are currently at which stage in the product life cycle?