DDWG2243 (QUIZ Chapter 1) - 19/1/2019

Investing in process innovation helps firms lower their costs.

• TRUE

• FALSE

Most innovative ideas do not become successful new products.

• TRUE

• FALSE

According to the concept of innovation funnel, the number of successful products launched will be greater than the number of raw ideas generated.

• TRUE

• FALSE

According to the concept of the innovation funnel, one new idea is usually responsible for several new products.

• TRUE

• FALSE

Technological innovations decrease:

• The variety of goods consumers can purchase.

• The need for differentiation among competitors.

• The time required to design and produce new products.

• The use of common components between different models of the same product.

As a result of the rapid pace of innovation:

• product life cycles have become short.

• product development cycles have become long.

• market segmentation has reduced.

• product obsolescence has slowed down.

Which of the following is true of technological innovations?

• Technological innovations help increase a country’s gross domestic product.

• Technological innovations decrease the amount of output achievable from a given quantity of labor and capital.

• Technological innovations slow down the product development cycles and product obsolescence.

• Technological innovations increase production costs and reduce product differentiation.

Technology is in its purest essence _____.

• knowledge

• trial and error

• experimentation

• guesswork

The innovation process is often conceived of as a funnel because:

• most innovative ideas become successful new products.

• it decreases the amount of output achievable from a given quantity of labor and capital.

• it increases the importance of production economies of scale.

• there are many potential new product ideas and only a few make it through the development process.

Innovation technology may result in negative implication EXCEPT:

• pollution

• improved medical technologies

• erosion

• cyber crime