Test Bank Chapters 1-13

Strategic Management: Creating Competitive Advantages

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Chapter 14 - Innovation and Entrepreneurship Chapter 14 Innovation and Entrepreneurship Multiple Choice Questions 1. (p. 370) A recent study by Boston Consulting Group found that the executives indicated their three biggest problems with innovation. Which of the following is NOT one of those biggest problems according to the study? A. Leveraging suppliers for new ideas B. Appropriately balancing risks, timeframes and returns C. Generating potentially viable ideas D. Moving quickly from idea generation to initial sales Difficulty: Hard Learning Objective: 1 2. (p. 370) _________ is the creation of new products or processes through the development of new knowledge or from new combinations of existing knowledge. A. Process development B. Invention C. Innovation D. Improvement Difficulty: Easy Learning Objective: 1 3. (p. 371) __________ is the initial commercialization of invention by producing and selling a new product, service or process. A. Improvement B. Process development C. Innovation D. Invention Difficulty: Easy Learning Objective: 1 14-1
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Chapter 14 - Innovation and Entrepreneurship 4. (p. 371) Which of the following is NOT a primary method of innovation? A. Competitive innovation B. Process innovation C. Service innovation D. Product innovation Difficulty: Medium Learning Objective: 1 5. (p. 371) ________ refers to simple changes or adjustments in existing products, services or processes. A. Continuous innovation B. Incremental innovation C. Process innovation D. Continuous improvement Difficulty: Medium Learning Objective: 1 6. (p. 371) _________, called kaizen in Japanese, is the process of relentlessly trying to find ways to improve and enhance a company's products and processes from design through assembly, sales and service. A. CCC21 B. Incremental innovation C. Continuous improvement D. Six Sigma Difficulty: Medium Learning Objective: 2 14-2
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Chapter 14 - Innovation and Entrepreneurship 7. (p. 372) CCC21 stands for: A. Competitive Cost Competency in the 21 st century B. Construction of Cost Competitiveness for the 21 st century C. Cost Chain Competition for the 21 st century D. Continuous Cost Competitiveness in the 21 st century Difficulty: Hard Learning Objective: 2 8. (p. 373) ________ is a continuous improvement approach many companies have adopted to spur incremental innovation in their businesses. It is a very rigorous and analytical approach in quality and continuous improvement. A. CCC21 B. Balanced scorecard C. Strategic matrix analysis D. Six Sigma Difficulty: Medium Learning Objective: 2 9. (p. 377) __________ are inherently more risky than ___________. A. Disruptive innovations; breakthrough innovations B. Incremental innovations; breakthrough innovations C. Breakthrough innovations; incremental innovation D. Functional innovations; process innovations Difficulty: Medium Learning Objective: 3 14-3
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Chapter 14 - Innovation and Entrepreneurship 10. (p. 376) A(n) ___________ is an innovation in a product, process, technology or the cost
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Test Bank Chapters 1-13 - Chapter 14 - Innovation and...

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