Student

Chapter 01
Introduction

True/False

1. The globalization of markets and the importance of innovation are independent of one another.

Answer: False
Difficulty: Easy
Page: 1

2. Flexible manufacturing technologies have increased the importance of production economies of scale.

Answer: False
Difficulty: Easy
Page: 1 3. Innovation and new technology have led to longer product life cycles as better quality products are being produced.

Answer: False
Difficulty: Moderate
Page: 2

4.. The increased pace of innovation has only had a negligible effect on market segmentation and product obsolescence.

Answer: False
Difficulty: Easy
Page: 2

5. Slow innovation results in diminishing margins and product obsolescence.

Answer: True
Difficulty: Moderate
Page: 2 6. Technological innovation can have a positive impact on our quality of life through improved goods and services.

Answer: True
Difficulty: Moderate
Page: 4

7. Technology’s effects on society are always positive.

Answer: False
Difficulty: Easy
Page: 4

8. Technology in its purest form is not knowledge, but rather faith that things will get better.

Answer: False
Difficulty: Easy
Page: 4

9. Firms that charge headlong into new product development usually have short development cycles.

Answer: False
Difficulty: Moderate
Page: 4

10. Studies have revealed that innovation is a freewheeling process that is unconstrained by rules and plans.

Answer: False
Difficulty: Easy
Page: 4

11. The majority of effort and money invested in technological innovation comes from industrial firms.

Answer: True
Difficulty: Moderate
Page: 4

12. GDP does relate very directly to the amount of goods consumers can purchase.

Answer: True
Difficulty: Easy
Page: 4

13. Practically all innovative ideas become successful products.

Answer: False
Difficulty: Easy
Page: 5

14. If an idea can be shown to be technologically feasible, it is guaranteed to be