Innovation Management

Clear Vision Inc. Has been the market leader for vision care products such as eyeglasses and lenses. It has also recently developed the use of laser technology to correct eye defects. Because of its prior related experiences, it has been successful in recognizing the value of new information and using it to develop new technologies ahead of others. This phenomenon is called:

The degree to which a system's components can be separated and recombined is called _____.

Customers who face the same general needs of the marketplace but are likely to experience them months or years earlier than the rest of the market and stand to benefit disproportionately from solutions to those needs are referred to as _____.

Since much innovation arises from experimentation and improvisation, the _____ organization structure is typically considered better suited for innovation despite its possible detriment to efficiency.

The value of an electronic reader is related to the availability of books, journals, magazines, etc. In a format that can be read by the electronic reader. For an electronic reader, these are _____ goods.

In the _____ process, a product is divided into many smaller features or functionalities, and these are rapidly created into minimum viable products and presented to the customer for feedback, enabling rapid incremental adaptation.

According to Joseph Schumpeter, small firms are likely to have better-developed complementary activities such as marketing or financial planning that enable them to be more effective innovators than larger firms.

The customization of products and processes to a local market makes them particularly difficult to transfer to divisions serving different markets.

A lack of cross-functional communication can lead to a poor fit between product attributes and customer requirements.

Suppliers can contribute ideas for product improvement or increased development efficiency.

Large firms often make greater use of formalization and standardization because as the firm grows it becomes more difficult to exercise direct managerial oversight.

A cross-functional team is one that has members of different ethnic backgrounds in a single functional area.

A loosely coupled structure is best suited for activities that involve exchange of tacit knowledge.

In industries characterized by network externalities, the value of a technological innovation to users will be a function only of its stand- alone benefits and cost.

When an industry has network externalities, the value of a good to a user is more likely to go up linearly rather than increase in an s- shape.

Modularity becomes less valuable in a product system when there are diverse technological options available to be recombined and heterogeneous customer preferences.

Increasing returns to adoption means that the more a technology is adopted, the more valuable it becomes.

Which of the following statements is true of learning effects?

June is a member of a new product development team. Her supervisor asks her about her experience in the team, and she replies, "Our team seems to be suffering from homophily." This statement means that:

Social loafing occurs when, as the size of a team decreases, individuals perceive that they will not receive full credit for their contribution to the group effort and so they make a strong commitment to increase their efforts.