Business Strategy: Innovation, Entrepreneurship, And Platforms

This question bank verified by Studydeets

Questions Bank

What Is Strategy
Strategic Leadership: Managing the Strategy Process
External Analysis: Industry Structure, Competitive Forces, and Strategic Groups
Internal Analysis: Resources, Capabilities, and Core Competencies
Competitive Advantage, Firm Performance, and Business Models
Business Strategy: Differentiation, Cost Leadership, and Blue Oceans
Business Strategy: Innovation, Entrepreneurship, and Platforms
Corporate Strategy: Vertical Integration and Diversification
Corporate Strategy: Strategic Alliances, Mergers, and Acquisitions
Global Strategy: Competing Around the World
Organizational Design: Structure, Culture, and Control
Corporate Governance and Business Ethics

All Questions

Question 1

Free

True/False

The pace of innovation has slowed in the 21st century.

Choose correct answer/s

True

False

Check answer

Question 2

Free

True/False

The best way for a firm to keep its proprietary technologies, recipes, or formulas secret is to obtain a patent.

Choose correct answer/s

True

False

Check answer

Question 3

Free

True/False

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

Choose correct answer/s

True

False

Check answer

Question 4

Free

True/False

Innovation and strategic entrepreneurship can only occur within new businesses.

Choose correct answer/s

True

False

Check answer

Question 5

Free

True/False

Social entrepreneurs forego the pursuit of profits to achieve social and environmental goals.

Choose correct answer/s

True

False

Check answer

Question 6

True/False

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

Choose correct answer/s

True

False

To unlock the question

Question 7

True/False

According to the crossing-the-chasm framework, the biggest chasm between customer segments is between early adopters and the mass market made up of the early majority and the late majority.

Choose correct answer/s

True

False

To unlock the question

Question 8

True/False

Innovation that targets new markets with existing technologies is known as disruptive innovation.

Choose correct answer/s

True

False

To unlock the question

Question 9

True/False

Pipeline businesses are typically better than platform businesses at incorporating user feedback and taking advantage of network effects.

Choose correct answer/s

True

False

To unlock the question

Question 10

True/False

Network effects always lead to a virtuous cycle in which an increasing number of customers improves the quality of a product or service, thereby attracting more customers and continuing the cycle.

Choose correct answer/s

True

False

To unlock the question

Question 11

Multiple Choice

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

Choose correct answer/s

Netflix moved from content development to upgrading its data analytics to provide faster online streaming.

Netflix applied big data analytics to its user preferences to provide highly personalized viewing recommendations.

Netflix moved from online streaming to online DVD rentals via the Internet.

Netflix applied first mover advantages to lock up talent needed to produce original content for DVD rentals and online streaming.

To unlock the question

Question 12

Multiple Choice

The typical four-step innovation process begins with

Choose correct answer/s

the modification and recombination of an existing product or process.

the presentation of an idea as findings derived from basic research.

the commercialization of an invention by entrepreneurs.

a competitor's attempt to imitate an innovation.

To unlock the question

Question 13

Multiple Choice

What is an invention?

Choose correct answer/s

the transformation of an idea into a new product or process

a unique idea that has not been thought of before

the transformation of an idea into a successful product

a unique idea that has been patented

To unlock the question

Question 14

Multiple Choice

When ReGen Pharmaceuticals released a new drug to treat insomnia, its chemical composition was disclosed at the back of the drug's cover. However, any attempts by competitors to copy the chemical composition would result in infringement of ReGen Pharmaceuticals intellectual property rights. Thus, the drug is protected by a

Choose correct answer/s

promissory bill.

patent.

franchise.

royalty.

To unlock the question

Question 15

Multiple Choice

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.

Choose correct answer/s

20 years

25 months

15 months

25 years

To unlock the question

Question 16

Multiple Choice

As a research scholar, Denise had built a helicam as part of her project. The helicam could capture aerial images. Realizing the potential use of this product in movie production and military and rescue operations, she started a new venture where she could customize these helicams to fit the specific needs of the buyers and sell them. Denise can be best described as a(n)

Choose correct answer/s

entrepreneur.

category captain.

franchisor.

early adopter.

To unlock the question

Question 17

Multiple Choice

A. G. Lafley at Procter & Gamble (P&G) had implemented an open-innovation model, which had greatly benefitted the company. In the light of this information, we can conclude that A. G. Lafley is a(n)

Choose correct answer/s

venture capitalist.

category captain.

intrapreneur.

early adopter.

To unlock the question

Question 18

Multiple Choice

How has Apple been able to sustain its competitive advantage in the smartphone industry?

Choose correct answer/s

by reducing its network effects

by targeting its new products and services toward laggards

by driving the price for the end user to zero

by regularly introducing incremental improvements in its products

To unlock the question

Question 19

Multiple Choice

Which of the following is a competitive benefit experienced by the first mover firm in an industry?

Choose correct answer/s

The first mover will be able to achieve a less steep learning curve.

The first mover will be able to reduce the switching costs.

The first mover will not have to patent its products or technology.

The first mover will be able to reduce costs through economies of scale.

To unlock the question

Question 20

Multiple Choice

The four-step innovation process ends with

Choose correct answer/s

idea generation.

invention.

idea testing.

imitation.

To unlock the question