L3 Business - 4 Topics Quiz

Innovation is best defined as:

• Copying existing products

• Creating new ideas, products, or processes

• Lowering product quality

• Outsourcing production

Allbirds switching to eucalyptus fibre shoes (Tree Dashers) is an example of:

• Product innovation

• Process innovation

• Financial innovation

• Cultural innovation

ZURU Toys using automation to speed up production is:

• Product innovation

• Process innovation

• Cost cutting

• Trademarking

Innovating based on sustainability trends helps a business to:

• Reduce customer loyalty

• Lose market share

• Increase competitiveness

• Increase costs

A workplace culture that encourages new ideas is called:

• Quality Assurance

• Cultural innovation

• Change resistance

• Cost innovation

Which business is best known for service innovation?

• Air New Zealand

• ZURU

• Allbirds

• Whittaker’s

Crowdfunding used by Allbirds to launch the Wool Runner is an example of:

• Cultural innovation

• Funding innovation

• Ethical innovation

• Product copying

One advantage of innovation is:

• Decreased differentiation

• Increased competitive advantage

• Higher defect rates

• Staff demotivation

A patent protects:

• Company logos

• Written work

• Inventions/technology

• Staff training manuals

Copyright protects:

• Musical and written work

• Product shape

• Secret recipes

• Supply chain data