Course Introduction
Innovation Management
Textbook Exam Questions
Innovation Management explores the processes, strategies, and skills necessary for organizations to create, implement, and sustain innovations that drive competitive advantage. The course covers the identification of opportunities for innovation, the development of new products, services, or processes, and the management of creativity within teams and organizations. Students learn frameworks for fostering an innovative culture, managing the innovation pipeline, and overcoming barriers to change. Case studies and real-world examples illustrate how leading organizations manage innovation at all stages, from idea generation through execution and commercialization. The course equips students with practical tools and methodologies to analyze challenges and lead innovation initiatives across various industries.
Recommended Textbook
Strategic Management of Technological Innovation 5th Edition by Schilling
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Page 2
Chapter 1: Introduction
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Sample Questions
Q1) Innovation and new technologies have led to longer product life cycles and slower product obsolescence.
A)True
B)False
Answer: False
Q2) Which of the following is an advantage of flexible manufacturing technologies?
A) They have made shorter production runs economical.
B) They have increased the importance of production economies of scale.
C) They eliminate the need for differentiation from competitors.
D) They have reduced the importance of technological innovation in industries.
Answer: A
Q3) Virtual Inc.,a manufacturing company,has recently entered the cell phone industry.This industry is characterized by rapid technological innovations.Which of the following is most likely to be true for Virtual?
A) The life cycle of its cell phones will be very long.
B) It will face rapid product obsolescence.
C) It will face low market segmentation in the cell phone industry.
D) It will have a lower need for product differentiation.
Answer: B
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Chapter 2: Sources of Innovation
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Sample Questions
Q1) If an individual knows a field too well,it can stifle his ability to come up with solutions that require an alternative perspective.
A)True
B)False
Answer: True
Q2) Erison Group,an advertising company,wants to hire someone as its creative head.Who among the following would be best suited for this position?
A) An individual who completely adheres to the existing logic and paradigms and has extensive knowledge of the field
B) An individual who has low tolerance for ambiguity and avoids taking risks
C) An individual who has a moderate degree of knowledge of the field but is intrinsically motivated
D) An individual who prefers to look at problems in conventional ways
Answer: C
Q3) Collaborative research is prohibited in high-technology sectors.
A)True
B)False
Answer: False
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4
Chapter 3: Types and Patterns of Innovation
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Sample Questions
Q1) Digital cameras replaced film cameras.Therefore,digital cameras are an example of
A) modular innovation
B) incremental technology
C) component innovation
D) discontinuous technology
Answer: D
Q2) When gutter shields were developed,they replaced gutter cleaning services hired by homeowners to keep leaves and debris out of their gutters.In other words,the same need was met by an entirely new technology.This is an example of a(n)_____ technology.
A) complementary
B) component
C) discontinuous
D) incremental
Answer: C
Q3) The path a technology follows through time is termed as technology trajectory. A)True
B)False
Answer: True
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Page 5
Chapter 4: Standards Battles and Design Dominance
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Q1) As firms develop complementary technologies to improve the productivity or ease of utilization of the core technology,the technology becomes less attractive to other firms.
A)True
B)False
Q2) A legally induced adherence to a dominant design is not possible.
A)True
B)False
Q3) Increasing returns to adoption imply that technology trajectories are characterized by _____,meaning that relatively small historical events may have a great impact on the final outcome.
A) the ratchet effect
B) the funnel effect
C) corrugated anomalies
D) path dependency
Q4) How is a dominant design likely to influence the nature of the technological discontinuity that will eventually replace it?
Q5) Explain the concepts of network externalities and installed base.
Q6) What is vaporware? What are its advantages?
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Chapter 5: Timing of Entry
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Sample Questions
Q1) Explain why sometimes the follower and not the first mover of a new technology is more successful in the marketplace.
Q2) Early leaders are firms that are the first to enter a market.
A)True
B)False
Q3) A disadvantage of using parallel development processes is that it greatly lengthens the new product development time.
A)True
B)False
Q4) Alpen Inc.is a manufacturing firm that holds the patent for a new food processing machine that is considerably safer and more efficient than the others available in the market.Being the only firm that manufactures this product,Alpen charges a very high price for it.This is referred to as _____.
A) monopoly rent
B) technology lag
C) incumbent inertia
D) absorptive capacity
Q5) What assumptions underlie the use of timing of entry strategies into the market for new products?
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Chapter 6: Defining the Organizations Strategic Direction
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Q1) Explain the influences on the threat of potential entrants into a market according to Porter's five-force model.
Q2) The Corner Shop Corp.is a leading supermarket chain in Chicago.According to Michael Porter's model of a value chain,which of the following activities of the firm is a primary activity?
A) A training session for the floor attendants at The Corner Shop outlets
B) An advertising campaign for a new The Corner Shop outlet
C) The accounting function at The Corner Shop outlets
D) The hiring of lawyers to ensure that the firm adheres to labor laws
Q3) According to Porter's five-force model,if suppliers of a particular good are very abundant,_____.
A) their bargaining power will be less
B) their level of differentiation will be very high
C) their level of vertical integration in the industry will be high
D) their annual employee turnover rates will be less
Q4) Path dependency refers to the abilities that make a firm more agile and responsive to change.
A)True
B)False
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Chapter 7: Choosing Innovation Projects
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Q1) According to the net present value method of discounted cash flow analysis,the time required to break even on a project using discounted cash flows is known as period of return.
A)True
B)False
Q2) In a survey,Sam was asked to rank,on a scale of 1 to 5,how important different cell phone features were to him.The result was then used by the surveying firm to assess the different attributes of the ranking.This survey would most accurately be termed a _____ analysis.
A) figurative
B) translational
C) fictional
D) conjoint
Q3) In the _____ method,in order to establish scales of customer preferences,individuals in a group are each given a stack of cards with an object or idea on each card.
A) derivative
B) conceptual
C) DEA
D) Q-sort
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Chapter 8: Collaboration Strategies
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Sample Questions
Q1) Which of the following is an advantage of collaborating at the development stage of a technology?
A) It increases asset commitment to obsolete products.
B) It ensures cooperation in the commercialization stage.
C) It increases a product's cycle time.
D) It facilitates the emergence of multiple competing standards for a product.
Q2) Licensing a technology from another firm is typically more expensive for a licensee than developing a new technology in-house.
A)True
B)False
Q3) What are the advantages and disadvantages of collaborating for research and product development?
Q4) Which of the following statements is true of a collective research organization?
A) It does not help firms to leverage their competencies.
B) It is a short-term commitment.
C) It is an effort to rapidly access capabilities or technology.
D) It allows a firm to share the cost and risk of basic research.
Q5) Product life cycles shorten with high-speed technological changes.
A)True
B)False
Page 10
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Chapter 9: Protecting Innovation
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Q1) If the knowledge underlying a particular technology is tacit,competitors will typically find it very easy to duplicate.
A)True
B)False
Q2) In the United States,utility patent owners are granted a term of _____ years of protection.
A) 35
B) 20
C) 90
D) 50
Q3) What is a trademark? How can the rights to a trademark or service mark be established?
Q4) If you live in a country that is a member of the Madrid Union and you register a trademark in your country,that trademark is protected throughout the world.
A)True B)False
Q5) In the United States,there are no laws to protect trade secrets.
A)True B)False
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Chapter 10: Organizing for Innovation
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Q1) ErgoWorld Inc.manufactures office furniture.The company is considering adopting a modular production system.A modular system would offer greater value to ErgoWorld if:
A) most customers are likely to agree on a single product configuration.
B) its customers prefer to upgrade their products by replacing their entire system.
C) its customers are willing to pay a premium price for extreme customization and personalization.
D) its customers have heterogeneous demands that need to be met in a cost-effective way.
Q2) Oxygenic Corp.uses photodynamic therapy to treat cancer and has major divisions in Germany,Russia,and the United States.The scientists in Russia develop the cancer treatment methods,treatment clinics are organized in Germany,and the U.S.division gathers the finance and markets the treatment methods.What type of strategy is being employed by Oxygenic,and what are the advantages and disadvantages of this type of strategy?
Q3) A loosely coupled structure is best suited for activities that involve exchange of tacit knowledge.
A)True
B)False
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12
Chapter 11: Managing the New Product Development Process
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Q1) What are the risks of championing?
Q2) Suppliers can contribute ideas for product improvement or increased development efficiency.
A)True
B)False
Q3) In the context of project development,an "antichampion" is:
A) a person who wishes to sabotage a new project.
B) a person who plays the role of the "devil's advocate."
C) a person who uses subjective criteria to evaluate a new project.
D) a person in a competing firm who sabotages market tests by promoting his company's products more heavily than normal.
Q4) A _____ of a product is an early working prototype of the product released to users for testing and feedback.
A) beta version
B) substitute
C) spiral model
D) sigma model
Q5) What is quality function deployment (QFD)? What are its advantages?
Q6) What is a partly parallel development process? Is it universally used?
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Chapter 12: Managing New Product Development Teams
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Q1) In the forming of virtual teams,what criteria must be used to select team members?
Q2) Managers of lightweight teams are normally junior or middle management employees.
A)True
B)False
Q3) Write a short note on functional teams.
Q4) Lightweight teams are appropriate for derivative projects where high levels of coordination and communication are not required.
A)True
B)False
Q5) The CEO of Bright Electronics Inc.has put together an autonomous new product development team.He is now trying to decide the type of leader who should be appointed to head the team.What should he look for in the leader of this team to improve its chances of success?
Q6) As the size of a team increases,the potential for social loafing decreases.
A)True
B)False
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Page 14
Chapter 13: Crafting a Deployment Strategy
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Q1) When Sports 360,a sports bar in New York,saw yet another sports bar open up across the street,it knew that it would have to lower its price again to stay in business.The city already had too many sports bars,and Sports 360 intended on being one of those left after the inevitable shake out.In this situation,the best pricing strategy for Sports 360 would be:
A) premium pricing.
B) market skimming.
C) survival pricing.
D) a freemium program.
Q2) Gemini Car Inc.buys car components from various manufacturers and assembles them into cars,which it sells under its own brand name.From the given information,Gemini Car is most accurately an example of a(n):
A) pirate operator.
B) original equipment manufacturer.
C) disintermediation factor.
D) category captain.
Q3) Firms should always be racing to launch their products as early as possible.
A)True
B)False
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Page 15