Management of Technology and Innovation Exam Review
Course Introduction
Management of Technology and Innovation explores the strategies, processes, and tools organizations use to foster technological advancement and drive innovation. The course examines how firms identify, develop, and implement new technologies to maintain competitiveness in rapidly changing markets. Students learn about technology life cycles, innovation frameworks, research and development management, and the integration of technology with business strategy. Case studies and real-world examples highlight best practices in managing innovation teams, protecting intellectual property, assessing technology trends, and navigating the challenges of commercialization. The course equips future managers and entrepreneurs with the skills to lead innovation-driven growth and effectively manage technological resources.
Recommended Textbook
Strategic Management of Technological Innovation 5th Edition by Schilling
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13 Chapters
520 Verified Questions
520 Flashcards
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Page 2
Chapter 1: Introduction
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Sample Questions
Q1) 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
Q2) Most innovative ideas do not become successful new products.
A)True
B)False
Answer: True
Q3) A firm's organizational structure and control systems have no influence on the generation of innovative ideas.
A)True
B)False
Answer: False
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Chapter 2: Sources of Innovation
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Sample Questions
Q1) The degree to which innovative activities are geographically clustered is independent of the national differences in the way technology development is funded or protected.
A)True
B)False
Answer: False
Q2) _____ are individuals or organizations that transfer information from one domain to another in which it can be usefully applied.
A) Knowledge brokers
B) Incubation workers
C) Complementors
D) Category captains
Answer: A
Q3) Knowledge that is explicit requires more frequent and close interaction to be meaningfully exchanged than knowledge that is tacit.
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) Iris is quite skeptical about new innovations and is most likely to adopt something new only after experiencing peer pressure to adopt the new innovation.However,she is not so risk averse that she will wait until all uncertainty of a new technology has been resolved; she is willing to accept a little uncertainty if her peers already use the product.Which of the following adopter categories does Iris belong to?
A) Early adopters
B) Innovators
C) Late majority
D) Laggards
Answer: C
Q2) Once a new product design becomes a dominant design:
A) the product is no longer profitable.
B) it becomes difficult for competitors to imitate.
C) the architecture on which the industry can focus its efforts is destabilized.
D) the product design is adopted by the majority of producers.
Answer: D
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5
Chapter 4: Standards Battles and Design Dominance
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Sample Questions
Q1) What is absorptive capacity? Why do firms that fall behind the technology frontier find it difficult to catch up?
Q2) Oswen Technologies Inc.,a software development company,spent a lot of money in advertising software products that were not in the market.However,the firm hoped to bring these products to the market at a later date.The software products advertised before their availability are termed _____.
A) puffery
B) vaporware
C) first refusal units
D) advertising rollouts
Q3) In a market characterized by network externalities,the benefit from using a good decreases with an increase in the number of other users of the same good.
A)True
B)False
Q4) How is a dominant design likely to influence the nature of the technological discontinuity that will eventually replace it?
Q5) Explain how the more a technology is adopted,the better it becomes.
Q6) What is vaporware? What are its advantages?
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Chapter 5: Timing of Entry
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Sample Questions
Q1) A firm intending to refine an earlier entrant's technology should avoid fast-cycle development processes.
A)True
B)False
Q2) When Fun Bun Inc.,an international fast-food chain,first moved into China,it had to teach farmers how to grow a particular variety of potatoes,and bakers had to be taught how to make hamburger buns.This is an example of:
A) corporate social responsibility.
B) an undeveloped supply channel.
C) incumbent inertia.
D) monopoly rents.
Q3) Why were other keyboards that claimed to be more efficient not able to replace the QWERTY keyboard? Explain how this illustrates the need to consider switching costs when introducing new technologies.
Q4) Many start-up firms demise because new innovations tend to be adopted very slowly at first.
A)True
B)False
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Chapter 6: Defining the Organizations Strategic Direction
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Sample Questions
Q1) Weekly News Inc.bought the paper mill that supplied paper for printing its magazine.This is an example of horizontal integration.
A)True
B)False
Q2) Explain the influences on the threat of potential entrants into a market according to Porter's five-force model.
Q3) Which of the following statements is true of Porter's five-force model?
A) It states that the attractiveness of an industry is unaffected by the industry's degree of rivalry.
B) It fails to acknowledge the role of substitutes for customers.
C) It is often used in practice to assess a specific firm's external environment.
D) It states that oligopolistic industries are less competitive if firms choose to engage in price wars.
Q4) What are core competencies?
Q5) Dynamic capabilities enable firms to quickly adapt to emerging markets or major technological discontinuities.
A)True
B)False
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Chapter 7: Choosing Innovation Projects
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Sample Questions
Q1) An efficiency frontier is the range of _____ that optimize a combination of features of a potential project.
A) product features
B) attribute arrangements
C) hypothetical configurations
D) conjoint dimensions
Q2) Coolers Inc.has developed a new generation of air conditioners.It has upgraded the old technology by making the air conditioners work on voice sensors instead of remote control.Though the technology is new,Coolers has decided to introduce the product in the market at a low cost.This project is a(n)_____ project for Coolers Inc.
A) platform
B) derivative
C) breakthrough
D) advanced R&D
Q3) The allocation of a finite quantity of resources over different possible uses is known as research rationing.
A)True
B)False
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Chapter 8: Collaboration Strategies
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Sample Questions
Q1) When technology is progressing rapidly,firms are more likely to:
A) commit themselves to fixed assets that will rapidly become obsolete.
B) avoid forming alliances for projects that are risky and complex.
C) use linkages with other specialized firms to access resources they do not possess.
D) avoid becoming more narrowly specialized.
Q2) Product life cycles shorten with high-speed technological changes.
A)True
B)False
Q3) Firms can use strategic alliances to exploit their own capabilities by leveraging them in another firm's development efforts.
A)True
B)False
Q4) A joint venture between two companies often results in a new separate company.
A)True
B)False
Q5) The pooling of supplementary resources can enable partners to achieve market power.
A)True
B)False
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Chapter 9: Protecting Innovation
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Sample Questions
Q1) To ensure that companies do not receive patents in countries where they do not intend to set up production of the invention,some countries have a "working requirement," according to which:
A) if the product is not profitable, it will not be granted a patent.
B) patents in a country will only be granted to people who have been working in the country for at least one year.
C) the invention must be manufactured in the country where the patent was granted within a specified period of time.
D) the workers who manufacture the product must be from the country where the patent was granted.
Q2) Albert has designed a license plate holder for automobiles that makes theft of the license plate practically impossible.He has limited income and feels that he needs to protect his patent in numerous countries so that he can sell his product there in the future.Discuss how Albert can accomplish this.
Q3) Technology trajectories are path dependent.
A)True
B)False
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Chapter 10: Organizing for Innovation
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Sample Questions
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) The customization of products and processes to a local market makes them particularly difficult to transfer to divisions serving different markets.
A)True
B)False
Q3) Explain why a mechanistic organizational structure stifles creativity.
Q4) Quasiformal structures foster interactions based on hierarchy rather than on interests.
A)True
B)False
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12
Chapter 11: Managing the New Product Development Process
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Sample Questions
Q1) Suppliers can contribute ideas for product improvement or increased development efficiency.
A)True
B)False
Q2) In the product development process,expenditures increase as uncertainty increases.
A)True
B)False
Q3) Which of the following statements is true of partly parallel development processes?
A) It enhances the probability that R&D will design products that are difficult to manufacture.
B) It requires costly iterations between design stages.
C) It shortens overall cycle time.
D) It initiates product design after concept development is complete.
Q4) A firm can benefit from developing "antichampions."
A)True
B)False
Q5) Explain the function of the go/kill gate in the stage-gate process for project development.
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Chapter 12: Managing New Product Development Teams
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Sample Questions
Q1) In a functional team approach to new product development,team members remain in their functional departments and may meet periodically to discuss the project.
A)True
B)False
Q2) A cross-functional team is one that has members of different ethnic backgrounds in a single functional area.
A)True
B)False
Q3) Heavyweight teams are suitable for platform projects.
A)True
B)False
Q4) 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?
Q5) A contract book must be developed before a project charter can be written.
A)True B)False
Q6) Write a short note on functional teams.
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Chapter 13: Crafting a Deployment Strategy
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Sample Questions
Q1) Super Alarm Inc.makes customized door security systems,which it sells under its own brand name.These security systems require installation,extensive customer education,and regular services._____ would be the most appropriate selling method for Super Alarm Inc.
A) Employing a direct sales force
B) Creating an online ordering system
C) Using a mail-order catalog system
D) Using a cannibalization strategy
Q2) Viral marketing is based on the fact that people are more receptive to,or have greater faith in,information that comes through personal contacts.
A)True
B)False
Q3) When Pearl Soft Shampoo was released by Clary Laboratories Inc.in the late 1970s,it was an innovative hair care concept because it repaired split ends.Even though the new product was an improvement on the previous ones,Clary Laboratories entered the market with low prices and dealer incentives.Discuss the possible reasons for this marketing strategy.
Q4) In the context of Gladwell's theories,define the terms connectors,mavens,and salespersons.
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