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Product innovations are commonly associated with a differentiation strategy.

A) True
B) False

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________ means individuals with highly innovative DNA traits have the ability to connect seemingly unrelated questions,problems,and ideas from different fields that allows them the opportunity to creatively see opportunities others miss.


A) Associating
B) Integrating
C) Visioning
D) Allocating

E) C) and D)
F) All of the above

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Which of the following is not an advantage of collaborating with strategic partners in order to innovate?


A) obtaining skills and new knowledge from outside sources
B) making firms identify their own strengths and weaknesses
C) managers clarifying what an innovation project requires to be successful and who will accomplish it
D) decreasing economies of scale

E) A) and B)
F) A) and D)

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Pierre Omidyar saw the opportunity that led to eBay when he linked three items: (1) a personal fascination with creating more efficient markets,(2) the desire of his fiancée to locate hard-to-find collectible Pez dispensers,and (3) the ineffectiveness of local classified ads in locating such items.This is an example of which innovator DNA trait?


A) questioning
B) associating
C) experimenting
D) networking

E) C) and D)
F) B) and C)

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B

Which of the following is not a dilemma faced by corporations trying to manage the innovation process?


A) launching incremental versus preemptive innovations
B) emphasizing marketing versus management innovations
C) choosing between experience and initiative
D) choosing between internal rather and external staffing

E) A) and B)
F) A) and C)

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Which of the following is not one of the methods companies can use to enhance their competitive position via innovativeness?


A) fostering creativity and experimentation
B) investing in new technology,R&D,and continuous improvement
C) copying the business practices or techniques of successful competitors
D) departing from existing technologies to develop products and practices that go beyond the current state of the art

E) B) and D)
F) None of the above

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C

One of the following is not a type of risks that executives must address.Which is it?


A) business risk taking
B) financial risk taking
C) personal risk taking
D) product-market risk taking

E) B) and D)
F) All of the above

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Define the five dimensions of an entrepreneurial orientation and why are they important?

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Entrepreneurial orientation (EO)refers t...

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New technology is an important source of new ideas because it


A) is seen by the customer as being important.
B) provides the manpower that firms need to make new products and services.
C) automatically reduces organizational waste.
D) provides the raw material that firms use to make innovative products and services.

E) B) and C)
F) All of the above

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Which of the following statements about skunkworks is false?


A) They are independent work groups.
B) They are autonomous.
C) They refer to a specialized type of outside contractor that corporations use to develop entrepreneurial ideas.
D) They are used to leverage existing strengths in new arenas to identify new opportunities.

E) A) and B)
F) All of the above

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One of the following statements about innovativeness is false.Which is it?


A) Innovativeness refers to making decisions and taking risks without certain knowledge of probable outcomes.
B) Innovativeness refers to efforts of a firm to find new opportunities and novel solutions.
C) Innovativeness involves creativity and experimentation.
D) Innovativeness is aimed at developing new products,services,and processes.

E) C) and D)
F) None of the above

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________ are the benefits gained by firms that are the first to enter new markets,establish brand identity,and/or adopt new technologies.


A) Competitive aggressiveness
B) Technological capabilities
C) First-mover advantages
D) Breakthrough innovations

E) C) and D)
F) None of the above

Correct Answer

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Which of the following is not characteristic of a disruptive innovation?


A) It is usually more sophisticated technologically.
B) It appeals to less demanding customers.
C) It is typically a less expensive solution for meeting a need.
D) It usually takes root in a new market or the low-end of an existing market.

E) B) and C)
F) A) and C)

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One of the potential pitfalls of real options analysis is that managers may have the incentive and know-how to game the system.

A) True
B) False

Correct Answer

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Some of the most common applications of real options are with property and insurance.A real estate option grants the holder the right to buy or sell a piece of property at an established price sometime in the future.If the price of the property goes ________,the owner of the option is likely to buy it.If the market value of the property ________ the strike price,the option holder is unlikely to execute the purchase.


A) down;goes above
B) down;drops below
C) up;drops below
D) up;goes above

E) A) and B)
F) All of the above

Correct Answer

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Another way to evaluate a corporate venture is in terms of the four criteria from the balanced scorecard.Which of the following is not one of those criteria?


A) customer perspective
B) supplier perspective
C) internal business perspective
D) financial perspective

E) A) and B)
F) None of the above

Correct Answer

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If managers believe that their abilities can reduce the risks inherent in decision making to a much greater extent that they actually can,they might demonstrate ________ and trust only their own judgment rather than conduct sufficient analysis.


A) agency problems
B) reasoning by analogy
C) managerial conceit
D) escalation of commitment

E) A) and D)
F) A) and C)

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C

Fair Oaks Farms,one of the largest dairy farms in the country,is rapidly becoming a zero-carbon-footprint dairy.Starting with the 430,000 gallons of manure produced daily,a number of innovations designed to capture value from the manure and assorted by-products are leading to greater efficiencies and at the same time are environment-friendly.This is an example of a firm defining its ________ envelope.


A) environmental
B) internal
C) financial
D) strategic

E) B) and D)
F) C) and D)

Correct Answer

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Process innovations are often associated with a low-cost leadership strategy.

A) True
B) False

Correct Answer

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Whereas ________ often emerge as heroes,________ run the risk of losing status by opposing popular projects.


A) managers;employees
B) product champions;exit champions
C) exit champions;product champions
D) shareholders;managers

E) B) and D)
F) All of the above

Correct Answer

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