Innovation

Question 1

…. involves the conversion of new knowledge into a new product, process or service.

Answer 1

Invention

Question 2

…. involves the conversşon of new knowledge into a new product, process or service and the putting these into actual use.

Answer 2

Innovation

Question 3

Not every …. becomes an ….

Answer 3

• invention
• innovation

Question 4

Generativity is enabled through 3 characteristics of digital technology/innovations:

Answer 4

• Homogenization of data
• Reprogrammability
• Self-referintial nature

Question 5

Innovation dilemmas:

Answer 5

• Technology push or market pull
• Product or process innovation
• Open or closed innovation
• Technological or business model innovation

Question 6

…. refers to new knowledge created by technologists or scientists push the innovation process.

Answer 6

Technology push

Question 7

…. reflects a view of innovation that sees the importance of actual use. Users, instead of producers, are at the fore.

Answer 7

Market pull

Question 8

…. relates to the features of the final product or service to be sold.

Answer 8

Product innovation

Question 9

…. relates to the way in which the product/service is produced and distributed.

Answer 9

Process innovation

Question 10

…. typically favour product innovation.

Answer 10

New developing industries

Question 11

…. typically favour process innovation.

Answer 11

Maturing industries

Question 12

…. involves the deliberate import and export of knowledge by an organization in order to accelerate and enhance its innovation.

Answer 12

Open innovation

Question 13

The balance between open and closed innovation depends on three key factors:

Answer 13

• Competitive rivalry
• One-shot innovation
• Tight-linked innovation

Question 14

Characterisitics of disruptive businesses:

Answer 14

• lower gross margins
• smaller taret maarkets
• simpler products