NEW
Font size
Worksheets5.8Innovation and R&D Quiz
Total questions: 24
Worksheet time: 8mins
Lower staff turnover is a direct benefit of expenditure on:
Marketing campaigns
Research and development (R&D)
Employee training programs
Sales promotions
A reason why many good ideas do not get commercialized is:
High staff turnover
Lack of creativity
Legal and administrative barriers deterring R&D expenditure
Lack of market demand
Incremental innovation involves:
Creating entirely new products
Adjusting, developing, and improving an existing product or process
Disrupting an industry with breakthrough innovations
Using outdated methods to improve efficiency
One reason why many good ideas do not get commercialized is:
Excessive marketing costs
R&D expenditure is often too expensive for firms
Lack of skilled workers
Poor leadership in firms
Adaptive innovation focuses on:
Completely new or significantly improved methods of production or work practices
Minor adjustments to existing products
Reducing costs of production
Creating prototypes
The market being too small to justify the R&D expenditure is:
A key driver for innovation
A reason why so many good ideas do not get commercialized
The result of poor financial planning
A characteristic of monopolistic competition
Intellectual property rights (IPR) refer to:
Legal protection of tangible assets of a business
The legal protection of intangible assets of an individual or organization
Insurance policies for businesses
Copyright laws
Creativity, R&D, and adaptability are:
Not essential for innovation to happen
The only requirements for success in business
Necessary but insufficient for innovation
Critical only for large multinational companies
Disruptive innovation refers to:
Gradual improvements to existing products
Innovation that involves radically creating entirely new products and/or processes
Adapting existing processes to new markets
Minor changes in business operations
A prototype is:
A concept developed for marketing purposes
A trial, pre-launch version of a product used in the R&D process
A finished product ready for sale
A product that failed in testing
In highly competitive markets, competitive rivalry can drive firms to:
Reduce R&D expenditure to save costs
Focus only on marketing
Spend more on R&D to survive and compete in the long term
Ignore innovation and focus on price wars
Research and development (R&D) is more important in:
The primary sector
The tertiary sector
The secondary sector
All industries equally
Patents are used to protect:
Published works of art, such as music, paintings, fiction, and movies
Inventions of a business
Customer data and privacy
Marketing strategies
Research and development (R&D) can be a major source of:
Short-term revenue
Competitive advantage for a business
Employee retention
Supply chain efficiency
The most extreme form of innovation is called:
Disruptive innovation
Incremental innovation
Adaptive innovation
Research and development (R&D) is vital to:
All industries, not just large multinational companies
Only the technology sector
The financial services industry
Government-funded organizations
When customers turn away from rival brands because of a more innovative and appealing product being available, this is known as:
Brand rivalry
Customer loyalty
Competitive differentiation
Market adaptation
Successful R&D can help a business to:
Reduce its workforce
Achieve a first-mover advantage, improve its corporate image, and improve productivity
Focus on cost-cutting measures
Avoid competition
A disadvantage of research and development (R&D) expenditure is:
It is irrelevant in competitive markets
It leads to reduced employee satisfaction
The opportunity cost of spending the money on R&D
Increased administrative workload
Patents are used to protect:
A company's marketing strategies
The inventions of a business
Customer reviews and feedback
Trade agreements
A trademark is:
A certificate of compliance for a product
A registered sign or symbol that distinguishes a firm's goods or services from those of other businesses
A patent protecting technological advancements
A legal document for mergers
Protection of intellectual property enables creators or owners to:
Avoid competition in the market
Profit from their creations and inventions
Receive government funding
Increase production efficiency
Patent protection of intellectual property can give the creator or inventor:
Guaranteed financial success
A first-mover advantage
Exclusive access to all market opportunities
Reduced R&D costs
Disruptive innovation involves:
A succession of small upgrades or improvements to a firm's products
Major breakthroughs in technology or processes
Gradual adjustments to existing practices
Reducing product quality to save costs
