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MANG 4710 Innovation Management Exam Questions With Correct Answers

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©BRIGHTSTARS EXAM SOLUTIONS 11/16/2024 10:16 AM 1 | P a g e MANG 4710 Innovation Management Exam Questions With Correct Answers Organizational Architecture - answerRepresents the way a firm has constructed itself over time. This comprises its internal design, including its functions and the relationships it has built up with suppliers, competitors, customers, etc. Figure 1.1: Overview of the innovation process - answerThe innovation process is a mixture including creative individuals, firms' operating functions and activities, and the firms' architecture and external linkages Entrepreneurship - answerAn individual who spots an opportunity and develops a business. It is understood that entrepreneurs often seem to have innate talents. Design - answerAbout developing or creating something. Concerned with the emergent arrangement of concrete details that embody a new idea. Figure 1.2: the interaction between development activities and design environment - answerStarting with engineering, product, and fashion, with research, knowledge, and experience will enable the organization to inform the areas of engineering solutions,, form concepts, and design trends. Invention - answerthe process of converting intellectual thoughts into a tangible new artifact (usually a product or process) Innovation as a management process - answerInnovation is the management of all the activities involved in the process of idea generation, technology development, manufacturing and marketing of a new (or improved) product or manufacturing process or equipment Product Innovation - answerThe development of a new or improved product Process Innovation - answerThe development of a new manufacturing process such as Pilkington's float glass process Organizational Innovation - answerA new venture division; a new internal communication system; introduction of a new accounting procedure ©BRIGHTSTARS EXAM SOLUTIONS 11/16/2024 10:16 AM 2 | P a g e Management Innovation - answerTQM (total quality management) systems; BPR (business process re-engineering); introduction of SAPR3 Production Innovation - answerQuality circles; just-in-time (JIT) manufacturing system; new production planning software, e.g. MRP II; the new inspection system Commercial/marketing Innovation - answerNew financing arrangements; new sales approach, e.g. direct marketing Service Innovation - answerInternet-based financial services Technology - answerKnowledge applied to products or production processes Serendipity - answerluck, finding good things without looking for them Linear Models - answerSimple, sequential process of innovation Open Innovation - answerThe use of cheap and instant information flows that places even more emphasis on the linkages and relationships of firms. It is from these linkages and the supply chain in particular that firms have to ensure that they have the capability to fully capture and utilize ideas Technology-Push - answerSimple linear sequential process; emphasis on R&D; the market is a recipient of the fruits of R&D Market-pull - answerSimple linear sequential process; emphasis on marketing; the market is the source for directing R&D; R&D has a reactive role Dominant Design - answerAbernathy and Utterback (1978) illustrate that an innovation system goes through three stages before a dominant design emerges Coupling model - answerEmphasis on integrating R&D and marketing Architectural innovation - answerRecognition of the role of film-embedded knowledge in influencing innovation Network Model - answerEmphasis on knowledge accumulation and external linkages Open innovation - answerChesbrough's (2003) emphasis on further externalization of the innovation process in terms of linkages with knowledge inputs and collaboration to exploit knowledge outputs Disruptive Innovation - answerInnovations that are radical in nature that reinforced the incumbent's position in a certain industry

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©BRIGHTSTARS EXAM SOLUTIONS

11/16/2024 10:16 AM


MANG 4710 Innovation Management Exam
Questions With Correct Answers


Organizational Architecture - answer✔Represents the way a firm has constructed itself over
time. This comprises its internal design, including its functions and the relationships it has built
up with suppliers, competitors, customers, etc.

Figure 1.1: Overview of the innovation process - answer✔The innovation process is a mixture
including creative individuals, firms' operating functions and activities, and the firms'
architecture and external linkages

Entrepreneurship - answer✔An individual who spots an opportunity and develops a business. It
is understood that entrepreneurs often seem to have innate talents.

Design - answer✔About developing or creating something. Concerned with the emergent
arrangement of concrete details that embody a new idea.
Figure 1.2: the interaction between development activities and design environment -
answer✔Starting with engineering, product, and fashion, with research, knowledge, and
experience will enable the organization to inform the areas of engineering solutions,, form
concepts, and design trends.

Invention - answer✔the process of converting intellectual thoughts into a tangible new artifact
(usually a product or process)

Innovation as a management process - answer✔Innovation is the management of all the
activities involved in the process of idea generation, technology development, manufacturing
and marketing of a new (or improved) product or manufacturing process or equipment

Product Innovation - answer✔The development of a new or improved product

Process Innovation - answer✔The development of a new manufacturing process such as
Pilkington's float glass process

Organizational Innovation - answer✔A new venture division; a new internal communication
system; introduction of a new accounting procedure

1|Page

, ©BRIGHTSTARS EXAM SOLUTIONS

11/16/2024 10:16 AM

Management Innovation - answer✔TQM (total quality management) systems; BPR (business
process re-engineering); introduction of SAPR3

Production Innovation - answer✔Quality circles; just-in-time (JIT) manufacturing system; new
production planning software, e.g. MRP II; the new inspection system

Commercial/marketing Innovation - answer✔New financing arrangements; new sales approach,
e.g. direct marketing

Service Innovation - answer✔Internet-based financial services

Technology - answer✔Knowledge applied to products or production processes

Serendipity - answer✔luck, finding good things without looking for them

Linear Models - answer✔Simple, sequential process of innovation

Open Innovation - answer✔The use of cheap and instant information flows that places even
more emphasis on the linkages and relationships of firms. It is from these linkages and the
supply chain in particular that firms have to ensure that they have the capability to fully capture
and utilize ideas

Technology-Push - answer✔Simple linear sequential process; emphasis on R&D; the market is a
recipient of the fruits of R&D

Market-pull - answer✔Simple linear sequential process; emphasis on marketing; the market is
the source for directing R&D; R&D has a reactive role

Dominant Design - answer✔Abernathy and Utterback (1978) illustrate that an innovation
system goes through three stages before a dominant design emerges

Coupling model - answer✔Emphasis on integrating R&D and marketing

Architectural innovation - answer✔Recognition of the role of film-embedded knowledge in
influencing innovation

Network Model - answer✔Emphasis on knowledge accumulation and external linkages

Open innovation - answer✔Chesbrough's (2003) emphasis on further externalization of the
innovation process in terms of linkages with knowledge inputs and collaboration to exploit
knowledge outputs

Disruptive Innovation - answer✔Innovations that are radical in nature that reinforced the
incumbent's position in a certain industry

2|Page

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