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WorksheetsMGT 315 - CHAPTER 6
Total questions: 14
Worksheet time: 2mins
What is the definition of innovation skills?
The creation of new products and technologies
The act of putting something new into action
The process of generating and implementing a new idea
The ability to create something novel
Who introduced the initial concept of innovation in 1934?
Joseph Schumpeter
Alexander Graham Bell
Wilbur and Orville Wright
Thomas Alva Edison
Which of the following is NOT a type of innovation mentioned in the text?
Transformational innovation
Radical innovation
Discontinuous innovation
Incremental innovation
What is the primary goal of incremental innovation?
To create entirely new markets
To develop new technologies
To improve existing products or services
To disrupt existing business models
How does innovation help businesses remain competitive?
By introducing innovative ways to capture target market attention
By reducing product prices
By limiting product offerings
By increasing employee turnover
What is the first step in the innovation process?
Advocacy and Screening
Idea Generation and Mobilization
Diffusion and Implementation
Commercialization
Which principle of business innovation emphasizes starting small?
Innovation Should Aim at Leadership
Innovation Should Be Simple and Focused
Innovation Should Start Small
Analyze the Sources of Innovation for Opportunities
What is an example of radical innovation mentioned in the text?
The introduction of the iPhone
The creation of a new coffee blend
Incremental improvements to a product
The development of a new marketing strategy
What does the term 'disruptive innovation' refer to?
Innovations that are only incremental
Innovations that create new markets
Innovations that simplify products for ignored markets
Innovations that improve existing products
According to the text, what is a characteristic of innovative businesses?
They tend to grow more slowly than their counterparts
They avoid entering new markets
They typically expand into new or adjacent categories
They focus solely on cost-cutting measures
What is the main difference between radical and incremental innovation?
Radical innovation is less risky than incremental innovation
Radical innovation creates new markets while incremental innovation improves existing products
Radical innovation focuses on cost-cutting measures
Radical innovation is more costly than incremental innovation
Which of the following best describes the term 'open innovation'?
Innovation that occurs within a single organization
Collaboration with external partners to enhance innovation
Innovation that is solely based on customer feedback
Innovation that focuses on reducing operational costs
What role does customer feedback play in the innovation process?
It helps in refining and improving ideas
It complicates the innovation process
It only matters after the product launch
It is irrelevant to the innovation process
Which of the following is a characteristic of open innovation?
Focusing only on product development
Relying solely on internal resources for innovation
Collaborating with external partners to enhance innovation
Keeping all innovations confidential
