Section 5 - 5.6 research and development Flashcards

1
Q

Adapt creativity

A

is a category of incremental innovation that adjusts or develop something that already exists

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2
Q

Creativity

A

Is the process of generating new ideas, often stemming from divergent thinking IE the ability to create new ideas. Creativity is a vital prerequisite to innovation

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3
Q

Development

A

is the use of research findings to create products that might be commercialized. It can also mean improving existing processes or products

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4
Q

Incremental innovation

A

refers to minor improvements to products or work processes

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5
Q

Innovation

A

is the process of commercially pioneering new ideas and creations in the production process. It stems from successful R&D in order to meet the needs of customers in a profitable way

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6
Q

Innovative creativity

A

is radical in nature as it involves creating something that is new. Innovators redefine problems and cultural norms

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7
Q

Paradigm innovation

A

refers to innovative change, usually of a radical nature. Such innovations changed the nature of certain markets and/or organizational cultures E.g. Low cost airlines and e-commerce

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8
Q

Open innovation

A

refers to changing the context of a product. It focuses on repositioning the perception of an established product by the use of appropriate innovation strategies

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9
Q

Process innovation

A

refers to changes to the way production or delivery takes place i.e. how something is done. It aims to improve the method of production and the logistics of getting the product from the factory floor to the consumer

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10
Q

Product innovation

A

refers to new creations or the development and improvement of existing products e.g. the introduction of new products, superior functionality, better ease of use and improved reliability or performance

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11
Q

Prototypes

A

are trial or test products used in the R&D process. Prototypes are designed, tested and developed with the hope of eventual commercialization i.e. the product being launched

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12
Q

Radical innovation

A

refers to major and disruptive innovations that tend to involve higher risks. They can be a major source of competitive advantage

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13
Q

Research

A

Refers to the commercial investigation of the unknown, such as a new product or process

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14
Q

Research and development(R&D)

A

Is the technological and scientific research that helps to generate a flow of new ideas and processes e.g. modifications or improvements to existing products and launching new products

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