Question 1

Within the context of Gary Hamel's "wheel of innovation," scaling concerns testing ideas in concept; discussing them with peers, customers, clients, or technical experts; and building initial models, prototypes, or samples.

Accepted Answer

Scaling involves implementing successful ideas into a larger market or organization. Testing, discussing, and building prototypes are preliminary phases of the innovation process that come before scaling.

Question 2

Highly innovative organizations have top managers who understand the innovation process, tolerate criticism and differences of opinion, take all possible steps to keep goals clear, and maintain the pressure to succeed.

Accepted Answer

Highly innovative organizations require top managers who understand the innovation process, accept diverse views, maintain clear objectives, and maintain pressure to succeed.

Question 3

The concept of reverse innovation got its start as global firms moved away from viewing innovation as a "home market" activity that creates new products and services for distribution to "foreign markets."

Accepted Answer

Reverse innovation refers to the process of developing new products or services targeted at customers in developing countries, and then bringing those innovations back to developed countries. This approach challenges the traditional view of innovation as a process that originates in developed countries and is later adapted to meet the needs of developing markets.

Question 4

An organization that does not provide health insurance to employees can be categorized as one with poor human sustainability.

Accepted Answer

Health insurance is an important aspect of employee benefits and not providing it can have negative consequences on employee well-being and overall job satisfaction, leading to poor human sustainability for the organization.

Question 5

Sustainable development places greater importance on the needs of the present generation than on the needs of future generations.

Accepted Answer

Sustainable development places equal importance on the needs of the present and future generations, taking into account the long-term impacts of present actions on the environment, economy, and society.

Question 6

The executives of Dunes Inc. pay equal attention toward maximizing profits of the firm, maintaining the well-being of its employees, satisfying its customers, and preserving the environment. This indicates that Dunes Inc. uses the triple bottom line approach.

Accepted Answer

The triple bottom line approach focuses on considering social, environmental, and financial factors equally important for the success and sustainability of a business. Therefore, if Dunes Inc. pays equal attention to maximizing profits, maintaining employee well-being, customer satisfaction, and preserving the environment, it indicates that they use the triple bottom line approach.

Question 7

Economic conditions in the general environment include ___.

Accepted Answer

Economic conditions in the general environment include inflation, income levels, gross domestic product, unemployment, and job outlook.

Question 8

Pfeffer's concern on human sustainability focuses on the importance of employees as they are organizational stakeholders.

Accepted Answer

Pfeffer emphasizes that employees are essential to the long-term success and sustainability of organizations, as they are the ones who create value and drive innovation. Therefore, organizations should prioritize the well-being and development of their employees as stakeholders.

Question 9

Invention is the generation of a novel idea or unique approach to solving problems or crafting opportunities.

Accepted Answer

The answer of Invention is the generation of a novel...

Question 10

General environment conditions exclude which one of the following categories?

Accepted Answer

The general environment includes economic, legal-political, natural environment, and technological conditions. Human relations conditions are not considered a category of the general environment.

Question 11

Which of the following represents the economic conditions in the general environment?

Accepted Answer

The unemployment rate is a key economic indicator that represents the percentage of people in the labor force who are currently unemployed but actively seeking employment. It reflects the overall health of the economy, and can have significant impacts on businesses and industries. The other options listed (patents, infrastructure, internet access, norms) are important factors in the general environment, but are not specific to economic conditions.

Question 12

Legal-political conditions in the general environment include ___.

Accepted Answer

Legal-political conditions are related to the laws and regulations enforced by the government, as well as the philosophy and objectives of the political parties in power. B, C, D, and E refer to other factors in the general environment, such as economic conditions, social values, technological developments, and environmental concerns.

Question 13

___ environment consists of economic, legal-political, socio-cultural, technological, and natural environment conditions.

Accepted Answer

The general environment refers to the larger societal forces that affect the whole industry and all the firms in it. It consists of economic, legal-political, socio-cultural, technological, and natural environment conditions. Task environment, on the other hand, includes the specific groups and organizations that affect the firm's ability to achieve its goals, such as customers, suppliers, competitors, regulators, and other stakeholders. Specific environment refers to the immediate industry and competitive environment in which the firm operates, including its market niche and its direct competitors. Stakeholder environment is the set of groups that can affect or are affected by the firm's decisions and actions. Finally, customer environment is the set of factors that affect buyers' behaviors and expectations towards the firm's products or services.

Question 14

Environmental capital is the supply of natural resources that we use to sustain life and produce goods and services for society.

Accepted Answer

Environmental capital includes resources such as air, water, soil, forests, and minerals that are essential for human well-being and economic development.

Question 15

The initial step of assessing in the innovation process involves commercializing innovation by turning it into actual products, services, or processes that increase profits by improving sales or lowering costs.

Accepted Answer

The initial step of assessing in the innovation process involves evaluating the potential of an idea or invention to determine its feasibility, marketability, and profitability. It involves analyzing factors such as market demand, competition, technological feasibility, and financial viability. Commercializing innovation comes later in the process, after the idea has been fully developed and tested.

Question 16

Technological conditions in the general environment include ___.

Accepted Answer

Technological conditions in the general environment refer to the development and availability of technology, including scientific advancements.

Question 17

Business model innovations result in new ways of making money for the firm.

Accepted Answer

Business model innovations involve changing the way a company creates, delivers, and captures value, which can result in new revenue streams and ways of making money.

Question 18

Natural environment conditions in the general environment include ___.

Accepted Answer

The natural environment conditions in the general environment refer to the state of the physical environment and any natural resources that are available. This includes things like air and water quality, climate, and the availability of natural resources. These factors can have an impact on business operations and the economy, which is why they are important to consider as part of the general environment analysis.

Question 19

Socio-cultural conditions in the general environment include ___.

Accepted Answer

Socio-cultural conditions in the general environment refer to aspects of society such as norms, customs, and social values regarding human rights, trends in education and related social institutions, and demographic patterns. These factors can affect the behavior and preferences of consumers, as well as the availability and suitability of labor and resources for businesses operating within the society. Factors like inflation, GDP, and job outlook (B), laws and regulations (A), technology (D), and natural environment concerns (E) are also important aspects of the general environment but fall outside of the socio-cultural category.

Question 20

Product innovations result in better ways of doing things.

Accepted Answer

The answer of Product innovations result in better ways of...

Quiz 4: Environment, Innovation, and Sustainability