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Exam 7: Business Strategy: Innovation and Entrepreneurship

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Question 51

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NextDoor is an instant messaging application for smartphones.New smartphone users find it easier to connect with friends and relatives through this mobile app when compared to other similar instant messaging applications.Hence,it has the largest user base in the industry.Thus,NextDoor app's value has increased primarily due to its

A) learning curve effects.
B) economies of scale.
C) economies of scope.
D) network effects.

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Question 52

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SyncTouch Inc.is a manufacturer of cell phones.It has released an improvised version of its smartphone in markets in which the company already operates.Which of the following types of innovations does this scenario best illustrate?

A) radical innovation
B) incremental innovation
C) architectural innovation
D) disruptive innovation

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Question 53

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Which of the following statements accurately brings out the distinction between the introduction and growth stages of the industry life cycle?

After Jeff Bezos read about how the Internet was growing by 2,000 percent a month,he set out to use the Internet as a new distribution channel and founded Amazon,which is now the world's largest online retailer.This is clearly an example of a(n)

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

Which of the following accurately describes how Netflix used innovation to gain a competitive advantage?

Which of the following most accurately describes a difference between incremental innovation and radical innovation?

Which of the following is an open innovation principle?

Which of the following statements is true of firms pursuing a closed innovation?

It is important for a firm to win over the early majority section of the market to ensure the commercial success of an innovation because they

Although TechnoWare Electronics Inc.still sells its VCR players,a product in its decline stage,the investments made by the company on improving or marketing the product are very low.The company has allocated the least amount of human and financial capital to this department.Which of the following strategies has TechnoWare Electronics adopted in this scenario?

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

Process innovation is more important than product innovation during the growth stage because

When Japanese carmakers attacked the existing U.S.automobile market by first offering small fuel-efficient cars,and then leveraging their low-cost and high-quality advantages into high-end luxury segments,they were engaging in

When does a firm fall into the large competitive chasm between early adopters and early majority?

Which of the following statements is true of technology enthusiasts?

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

By introducing Vscan,a small,wireless ultrasound device,GE Healthcare (General Electric) was primarily trying to

Which of the following scenarios would be characteristic of an entrepreneur?

When a firm pursues a maintain strategy,it