The cons of investment in research and development include

it takes time, money and resources away from core business

Implementing new technology can lead to

higher efficiencies and thus productivity

An issue with having an innovative product is that

it requires much more marketing

A learning organisation has at least

mental models, a shared vision, personal mastery

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Management strategies to seek new opportunities

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Questions 15

Answers

1
The cons of investment in research and development include
business can never be the first to have an original idea
laboratory facilities are hard to find
scientists are not well respected
it takes time, money and resources away from core business
2
Implementing new technology can lead to
higher efficiencies and thus productivity
customized manual work flow
repeated work conflicts
workplace incidents
3
Niche market products are an example of
market saturation
predatory pricing
cost focus
differentiation
4
An issue with having an innovative product is that
it requires much more marketing
technology costs a lot
more training is required
no one believes it is your idea
5
A common difficulty in developing a learning organisation is that
cultural change takes time
managers do not know how to implement the process
money is wasted on seminars
staff do not want to learn
6
Business should seek new opportunities to
move out of a market in decline
expand profits
move out of a market with overly strong competition
all of these reasons
7
Personal mastery can also be called
professional development
collaborative co-creation
skills auditing
expert access
8
When dealing with mental models managers must
hire new staff
retrain workers
mentor inductees
challenge assumptions
9
Producing goods overseas allows businesses to access the benefits of
economic protectionism
different holiday periods
international celebration days
free trade agreements
10
A learning organisation has at least
mental models, a shared vision, personal problems
mental models, personal mastery, systems learning
mental models, a shared vision, personal mastery
mental models, a shared vision, team mastery
11
Developing new products can be done through
word of mouth
research and development
mimicking competitors
collaborative staff
12
The term ‘learning organisation’ was coined by
Abraham Maslow
Henry Ford
Peter Senge
Kurt Lewin
13
The term used for something within Australia is
domestic
home based
domicile
unilateral
14
True or false: ‘Selling Australian made products overseas is called importing’
True
False
15
A small, specific area of the market is called a
segmentia
section
pie piece
niche

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