Strategic management of innovation and technological change
A)Cannot be managed
B)Can contribute to a firm's competitive advantage
C)Exists only in technology-intensive industries
D)Tries to influence or direct technological change before it occurs

Question

Quizplus · Accepted Answer

Strategic management of innovation and technological change can contribute to a firm's competitive advantage by enabling it to create new products or processes more efficiently, improve existing products or processes, and reduce costs. This is relevant to any industry, not just technology-intensive ones. Option A is incorrect because innovation and technological change can be managed through a variety of methods such as research and development, collaborations, and acquisitions. Option D is incorrect because strategic management of innovation and technological change involves adapting to or influencing technological change after it has occurred, rather than attempting to control it before it happens.

Strategic Management of Innovation and Technological Change