Quiz - Innovation

Topics: Innovation, Invention, Technology Pages: 3 (502 words) Published: October 14, 2012
Quiz No 3Version: A

Name__________________Student Number______________

1. The globalization of markets and the importance of innovation are independent of one another.

2. Flexible manufacturing technologies have increased the importance of production economies of scale.

3. Innovation and new technology have led to longer product life cycles as better quality products are being produced.

4. The increased pace of innovation has only had a negligible effect on market segmentation and product obsolescence.

5. Slow innovation results in diminishing margins and product obsolescence.

6. Technological innovation can have a positive impact on our quality of life through improved goods and services.

7. Technology’s effects on society are always positive.

8. Technology in its purest form is not knowledge, but rather faith that things will get better.

9. Firms that charge headlong into new product development usually have short development cycles.

10. Studies have revealed that innovation is a freewheeling process that is unconstrained by rules and plans.

11. Sometimes knowing a field too well can stifle creativity.

12. The organization’s structure, routines, and incentives can thwart individual creativity, but not amplify it.

13. Sometimes paying people for suggestions undermines creativity because it focuses their shift on extrinsic motivation.

14. Though a generalist by nature, inventors are specialists in the field in which they invent.

15. Innovation often originates with those who create solutions for their own needs.

16. The qualities that make people inventive do not necessarily make them entrepreneurial.

17. Manufacturers typically create new product innovations in order to profit from the sale of the innovation to customers.

18. Firms consider their in-house R&D to be their least important source of innovation, but still feel it is necessary...
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