1. As a result of the rapid pace of innovation, the time between a product’s introduction and its withdrawal from the market
a. has become shorter.b. has become more predictable.
c. has become longer.d. has not changed at all.
2. The Solow Residual refers to
a. the increased amount of output achievable from a given quantity of labor and capital due to technological innovation.c. obsolete products left in the market due to the accelerated product life cycle.| b. the less developed nations of the world being left behind due to their slower development of technology.d. the reduction in the amount of inventory needed by manufacturing firms due to technological improvements in inventory management.| 3. After Yahoo! was introduced as an easy way to search the World Wide Web, it was followed by other search engines, some of which had improved or faster ways to search the web. This is an example of how one innovative idea can
a. ruin the business of someone else.b. slow down obsolescence.
c. stimulate more innovations and create a new market.d. never be truly copied. 4. If you were the director of R&D at a large pharmaceutical company, how might you apply the concept of “the innovation funnel?” a. Hire more people because most of them will turn out to be mediocre.c. Discourage more new ideas because most of them end up being useless and waste time and energy.| b. Encourage more new ideas because it takes thousands of new ideas to come up with one successful new product.d. The innovation funnel concept can not be used by a person in this position.| 5. The difference between Honda’s employee-driven idea system (EDIS) and a traditional suggestion box is that Honda’s system a. does not pay employees for ideas.c. requires those who submit ideas to follow through with the suggestion, overseeing its progress from concept to implementation.| b. screens ideas for practicality before paying employees.d. only ends up...