Management of Technology Practice Exam
Course Introduction
Management of Technology explores the strategic and operational aspects of integrating technology into organizations to drive innovation and competitive advantage. The course covers key concepts such as technology forecasting, technology acquisition, research and development management, and assessing the impact of emerging technologies on business models. Students learn how to align technological capabilities with organizational goals, manage technological change, and address challenges related to intellectual property, commercialization, and sustainability. Through case studies and real-world examples, the course emphasizes effective decision-making and leadership in technologically dynamic environments.
Recommended Textbook
Strategic Management of Technological Innovation 4th Edition by Melissa A. Schilling
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Page 2
Chapter 1: Introduction
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Q1) Externalities are costs that are borne by individuals other than those responsible for creating them.
A)True
B)False
Answer: True
Q2) The majority of effort and money invested in technological innovation comes from non-industrial firms.
A)True
B)False
Answer: False
Q3) The innovation process is often conceived of as a funnel,because most potential new product ideas make it through the development process.
A)True
B)False
Answer: False
Q4) Globalization of markets has reduced the importance of innovation.
A)True
B)False
Answer: False
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Chapter 2: Sources of Innovation
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Q1) The decline in the government share of spending on R&D is largely due to the rapid increase in industry R&D funding rather than a real decline in the absolute amount spent.
A)True
B)False
Answer: True
Q2) A variety of rice created by Biocrop Inc.,through recombinant DNA technology,was found to be rich in both carbohydrates and proteins.After the success of this rice variety,the particular technology was implemented by less-developed countries to increase the nutrient level of fruits,pulses,and greens in order to feed their malnourished children.This is an example of _____.
A) technological cluster
B) technological spillover
C) technological convergence
D) technological determinism
Answer: B
Q3) Knowledge that cannot be readily codified is called explicit knowledge.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Types and Patterns of Innovation
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Q1) Explain what Schumpeter meant by the term creative destruction.
Answer: The s-curve model suggests that technological change is cyclical: Each new s-curve ushers in an initial period of turbulence,followed by rapid improvement,then diminishing returns,and ultimately is displaced by a new technological discontinuity.The emergence of a new technological discontinuity can overturn the existing competitive structure of an industry,creating new leaders and new losers.Schumpeter called this process creative destruction,and argued that it was the key driver of progress in a capitalist society.
Q2) A bicycle manufacturing company adopted a new type of inventory management system.This inventory system improved the productivity of its manufacturing unit and the quality of the bicycles.This is an example of _____ innovation.
A) product
B) radical
C) architectural D) process
Answer: D
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Chapter 4: Standards Battles and Design Dominance
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Q1) Which of the following is true of monopoly cost curve?
A) Monopoly costs to market share curve is more s-shaped than network externality returns to market share curve.
B) The steepness of the monopoly cost curve is largely a function of the firm's discretionary behavior.
C) It is not possible for a network externality returns curve to cross a monopoly cost curve.
D) A firm choosing to exploit its monopoly power is flattening the monopoly costs curve.
Q2) 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
Q3) Products that have a large installed base are likely to attract more developers of complementary goods.
A)True
B)False
Q4) What is vaporware? What are its advantages?
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Chapter 5: Timing of Entry
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Q1) New innovations typically tend to:
A) be adopted very slowly at first.
B) have a rapid initial takeoff.
C) provide high sales revenue when they are first introduced.
D) be adopted as soon as they are introduced.
Q2) Which of the following is an advantage of being a later entrant into a market?
A) Firms can capture scarce resources.
B) Firms do not have to invest in exploratory research.
C) Firms have to develop their own supply and distribution channels.
D) Firms are unaffected by switching costs.
Q3) When a market is characterized by mature enabling technologies,a firm should enter the market late.
A)True
B)False
Q4) A delayed entry into a market with a new technology is preferred when:
A) support by complementary goods providers is initially high.
B) enabling technologies are initially less mature.
C) customer uncertainty is low in the beginning.
D) the scope for improving over previous technologies is high.
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Chapter 6: Defining the Organizations Strategic Direction
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Q1) Many people dream of opening their own restaurant someday and restaurant supply houses provide easy finance options for equipment purchases.Also,a high growth is projected for the restaurant industry sector.According to Porter's five-force model,this is one of the reasons why the _____ in this industry is so high.
A) failure rate
B) exit barrier
C) threat of potential entrants
D) technological breakthrough
Q2) Ceramic Customs Co.requires a specific type of ceramic to make custom-made tiles.Since only one supplier makes that particular ceramic,the firm is forced to source all of its supplies from it.The firm tried negotiating the price at which it purchases the material,but failed to get any reduction on the cost.This is because:
A) the supplier has more bargaining power than the firm.
B) the supply is unlimited.
C) the supply exceeds the demand.
D) the industry has barriers to entry.
Q3) A music downloading software and an MP3 player are substitutes for one another.
A)True
B)False
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Page 8
Chapter 7: Choosing Innovation Projects
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Q1) Derivative projects offer fundamental improvements in the cost,quality,and performance of a technology over preceding generations.
A)True
B)False
Q2) Upon calculation of its costs and cash inflows,if the net present value (NPV) of a project is greater then zero then it generates wealth.
A)True
B)False
Q3) NewDigger Inc.makes backhoes for digging ditches and trenches.It has developed an acid which when poured on the ground,digs trenches of various depths depending on how much is applied.The firm has recently started using this product commercially.This would probably be considered a(n) _____ project for NewDigger.
A) derivative
B) platform
C) breakthrough
D) advanced R&D
Q4) What is the internal rate of return of a project? How is it calculated? What are the drawbacks of using this method?
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9
Chapter 8: Collaboration Strategies
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Q1) When each partner contributes capital and owns a specified right to a percentage of the proceeds from the alliance,the collaborative relationship is referred to as _____.
A) equity ownership
B) relational governance
C) alliance contracts
D) solo internal development
Q2) Combining the capabilities and other resources of partner firms,but not necessarily transferring those resources between the partners is referred to as _____.
A) capability transfer
B) capability complementation
C) resource modification
D) disintermediation
Q3) When technology is progressing rapidly,firms are more likely to:
A) commit themselves to fixed assets.
B) focus on developing the necessary skills in-house.
C) use linkages with other specialized firms to access resources they do not possess.
D) avoid becoming more narrowly specialized.
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Chapter 9: Protecting Innovation
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Q1) The degree to which a firm is able to capture the rents from its innovation is known as its monopolization potential.
A)True
B)False
Q2) A service mark distinguishes the provider of a service rather than a product.
A)True
B)False
Q3) Roboturbo has decided to make its technology of manufacturing robots open so that external companies can contribute to the development of the technology.It is most likely that as a result of this decision:
A) a much larger pool of talent and resources will try to improve the technology.
B) a greater degree of coordination of research efforts for this technology will develop.
C) the direction of the technology development will be more unified.
D) Roboturbo will be able to control the entry and timing of technology enhancements.
Q4) What is a trademark? How can the rights to a trademark or service mark be established?
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Page 11
Chapter 10: Organizing for Innovation
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Q1) According to Joseph Schumpeter,small firms are likely to have better-developed complementary activities such as marketing or financial planning that enable them to be more effective innovators than larger firms.
A)True
B)False
Q2) In the context of innovation productivity,a firm's overall size is not an easy-to-manipulate attribute.
A)True
B)False
Q3) Explain why a mechanistic organizational structure stifles creativity.
Q4) ErgoWorld manufactures office furniture.The company is considering adopting a modular production system.A modular system offers greater value to ErgoWorld when: A) most customers are likely to agree on a single product configuration.
B) customers prefer to upgrade their products by replacing their entire system.
C) customers are willing to pay a premium price for extreme customization and personalization.
D) customers have heterogeneous demands which are expected to be met in a cost-effective way.
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Chapter 11: Managing the New Product Development Process
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Q1) One of the drawbacks of Quality Function Deployment (QFD) is that it hinders cross-functional communication.
A)True
B)False
Q2) In failure modes and effects analysis (FMEA),potential problems in a system are classified according to the time at which they occurred.
A)True
B)False
Q3) In the context of FMEA,which of the following formulas is used to calculate the risk priority number?
A) Risk priority number = total profits from new products/total expenditures
B) Risk priority number = total profits from new products - total expenditures
C) Risk priority number = successful projects/total project portfolio
D) Risk priority number = severity X likelihood of occurrence X inability of controls to detect
Q4) What is Quality Function Deployment (QFD)? What are its advantages?
Q5) Explain the value of the stage-gate process in new product development.
Q6) What are the risks of championing?
Q7) What is partly parallel development process? Is it universally used?
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Chapter 12: Managing New Product Development Teams
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Q1) Managers of lightweight teams are normally junior or middle management employees.
A)True
B)False
Q2) Functional teams typically have a project manager or dedicated liaison personnel.
A)True
B)False
Q3) Which of the following is true of functional teams?
A) Functional teams consist of members from multiple areas in the firm such as R&D, marketing, manufacturing, distribution, and so on.
B) The functional team structure provides little opportunity for cross-functional coordination.
C) Functional teams are not appropriate for derivative projects that affect only a single function.
D) Functional teams are usually permanent.
Q4) What are the advantages and disadvantages of having a heterogeneous new product development team?
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Chapter 13: Crafting a Deployment Strategy
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Q1) If a firm invests in continuous innovation and willingly cannibalizes its existing products with more advanced products,the firm can:
A) lose a significant number of customers to competitors.
B) make its products more backward compatible.
C) prevent competitors from achieving a significant technological lead.
D) gain greater trust from distributors who have huge stocks of the existing product.
Q2) 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.The best pricing strategy for Sports 360 will be:
A) premium pricing.
B) market skimming.
C) survival pricing.
D) a freemium program.
Q3) Firms should always be racing to launch their products as early as possible.
A)True
B)False
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