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Exam 7: Business Strategy: Innovation, Entrepreneurship, and Platforms

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Question 1

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For ideas and inventions to be innovative, they must first be commercialized.

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Question 2

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In the United States, the time period for the right to exclude others from the use of a patented technology is ________ from the filing date of a patent application.

A) 20 years
B) 25 months
C) 15 months
D) 25 years

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Question 3

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The strategic objective of a first mover during the introduction stage of the industry life cycle is to

The four-step innovation process ends with

The customers entering the market in the growth stage are primarily

The leading producer of cell phone backup batteries, Jumpstart, has achieved great success because they produce high-quality battery backups that are not too expensive. Even so, another company that produces lower-quality batteries at the same price has also achieved some success, but not as much as Jumpstart. Also, in general, the price of backup batteries has declined because of economies of scale and learning. In addition, Jumpstart has added complementary assets, such as a carrying case. Considering all of these factors, the backup battery industry is most likely in the

A(n) ________ leverages new technologies to attack existing markets.

When a firm pursues a maintain strategy, it

Canon was able to redesign the copying machine so that it didn't need professional service-reliability was built directly into the machine, and the user could replace parts, such as the cartridge. What Xerox had not envisioned was the possibility that the components of the copying machine could be put together in an altogether different way that was more user-friendly. This example describes

DigitalHealth Electronics Inc. is a company that builds diagnostic devices. It was the first company to develop a compact MRI scanner by reconfiguring the components of the MRI technology. This smaller and user-friendly version of the huge MRI scanner created demand from small hospitals, nursing homes, and private practice doctors who were earlier dependent on the scanning machines in large hospitals. Which of the following types of innovations does this scenario best illustrate?

Foot Friendly is a manufacturer of athletic shoes. It has released an improved version of its premier running shoe in markets in which the company already operates. Which of the following types of innovations does this scenario best illustrate?

Intel's Celeron chip and Atom chip are initiatives to

Which of the following customer segments as described in the chasm framework make up the mass market?

Process innovation typically overtakes product innovation in importance during the shakeout stage of the industry life cycle.

Innovation and strategic entrepreneurship can only occur within new businesses.

How is process innovation different from product innovation?

Edna Gomez is the founder of the restaurant chain Good and Green. She ensures that the products in her stores are ethically and responsibly sourced. Most products are therefore 100 percent organic and all packaging is manufactured from recycled material. Also, her company sources ingredients from farms within 100 miles from her locations. Edna's belief is that her restaurants should be able to support the community at large. Which of the following terms best describes Edna Gomez?

Which of the following statements accurately brings out the difference between technology enthusiasts and early adopters?

Marble Inc. is a new firm that entered the smartwatch industry during the growth stage of the industry life cycle. It managed to become one of the top-three smartwatch manufacturers during the shakeout stage due to its low-cost structure. What features should Marble emphasize in its product marketing to ensure it successfully crosses the chasm into the maturity stage?

Which of the following business models in the landscaping industry is likely to scale most efficiently?