3.01-02 POB Unit Goals & Innovation Practice Questions

If a company develops a new product, method, strategy, or process, it is known as a(n)

• innovation

• creative output

• reinvention

• connection

Rashaard is known at work for being able to generate unique ideas, approaches, and solutions to her business’s problems. Rashaard possesses

• curiosity

• flexibility

• creativity

• resilience

Which of the following is a category of innovation:

• Psychological

• Product

• Piloting

• Physical

McBrady & Co. comes up with a new method to manufacture its product that saves time, money, and effort. This is known as __________ innovation.

• Product

• Paradigm

• Process

• Positioning

A company decides to start marketing its health food bar as a candy bar. Which type of innovation is taking place?

• Practical

• Product

• Paradigm

• Positioning

Which type of innovation relies on a significant change in thinking such as evolution of the Internet?

• Product

• Paradigm

• Psychological

• Process

Which of the following is a reason why innovation is important:

• Innovation ensures a business will succeed.

• Innovation leads to creativity.

• Innovation helps the economy.

• Innovation eliminates competition.

Nat Brown's business is more successful than her competitors’ because she is innovative, which gives her a

• Competitive Advantage

• Creative Advantage

• Creative Destruction

• Competitive Destruction

DJ's 12-screen movie theater recently opened in your neighborhood. Just a couple of months

after it opened for business, the old single-screen drive-in movie theater nearby went out of business. This is an example of

• Competitive Advantage

• Creative Advantage

• Creative Destruction

• Competitive Destruction

Which of the following is a common risk of innovation:

• Economic downturn

• Paradigm shift

• Competitive advantage

• Loss of Jobs