Quiz 2

1. What is the innovation process?

• A) The method by which organizations introduce new ideas, products, or services

• B) The way companies reduce product prices

• C) The study of market trends

• D) The process of copying competitor innovations

2. Why is the innovation process important for companies?

• A) It increases operational costs

• B) It helps companies stay competitive and respond to market demands

• C) It guarantees immediate success

• D) It eliminates the need for customer feedback

3. Which of the following is a common challenge in the innovation process?

• Lack of clear goals

• Too much collaboration

• Unlimited resources

• Absence of competition

• Too many gossips

4. One major challenge in the innovation process is:

• Having too many employees

• Resistance to change within the organization

• Overfunding of innovation projects

• Lack of existing products

• Have social media influencer

5. Which of the following is NOT one of the four main steps in the innovation process?

• Idea generation

• Commercialization

• Price adjustment

• Development

Which is NOT part of the four steps of the innovation process

• Sponsorship

• Idea Generation

• Testing

• Implement

What is design thinking?

• A process of refining existing ideas

• A human-centered approach to innovation focusing on understanding user needs

• A method to improve manufacturing efficiency

• A method to improve manufacturing efficiency

One of the key stages in design thinking is:

• Prototype testing

• Product launch

• Market evaluation

• Promotion

Why is design thinking important in the innovation process?

• It ensures that ideas are completely original

• It eliminates competition in the market

• It speeds up product development

• Focuses on solving problems from the user's perspective

What is the role of intellectual property (IP) in the innovation process?

• prevents companies from innovating

• allows anyone to freely use new innovations

• ensures all innovations remain confidential within the company

• protects new ideas, inventions, and processes from being copied by competitors