Section 5 - 5.6 research and development

Question 1

Adapt creativity

Answer 1

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

Question 2

Creativity

Answer 2

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

Question 3

Development

Answer 3

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

Question 4

Incremental innovation

Answer 4

refers to minor improvements to products or work processes

Question 5

Innovation

Answer 5

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

Question 6

Innovative creativity

Answer 6

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

Question 7

Paradigm innovation

Answer 7

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

Question 8

Open innovation

Answer 8

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

Question 9

Process innovation

Answer 9

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

Question 10

Product innovation

Answer 10

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

Question 11

Prototypes

Answer 11

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

Question 12

Radical innovation

Answer 12

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

Question 13

Research

Answer 13

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

Question 14

Research and development(R&D)

Answer 14

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