lesson 2 Flashcards
What is the definition of incremental innovation?
Incremental innovation refers to small, gradual improvements made to existing products, services, or processes.
True or False: Disruptive innovation creates new markets by providing a different value proposition.
True
Fill in the blank: __________ innovation involves a complete rethinking of current products or services.
Radical
What type of innovation focuses on enhancing customer experience through new features?
Sustaining innovation
Which type of innovation typically involves collaborations with external organizations?
Open innovation
Multiple choice: Which of the following is an example of process innovation? A) New smartphone design B) Improved manufacturing techniques C) A new marketing strategy
B) Improved manufacturing techniques
What is the main goal of social innovation?
To address social issues and improve the well-being of communities.
True or False: Business model innovation refers to changing the way a company creates, delivers, and captures value.
True
What type of innovation is characterized by the introduction of entirely new technologies?
Disruptive innovation
Fill in the blank: __________ innovation focuses on creating new products for entirely new markets.
Radical
Multiple choice: Which of the following best describes sustaining innovation? A) Innovations that improve existing products B) Innovations that create new markets C) Innovations that eliminate existing products
A) Innovations that improve existing products
What is a key characteristic of open innovation?
It encourages sharing ideas and collaborating with external partners.
True or False: Incremental innovation can occur without significant investment.
True
What is the primary focus of environmental innovation?
To reduce environmental impact and promote sustainability.
Fill in the blank: __________ innovation often leads to the creation of entirely new industries.
Disruptive
