A fundamental change in business strategy

Why is customer feedback important in innovation?

It helps refine and improve products

Which of the following best describes disruptive innovation?

Innovation that creates a new market and disrupts existing ones

What is the purpose of a business model?

To describe how a company creates, delivers, and captures value

What role does technology play in innovation?

It enables and accelerates innovation

What is an example of an open innovation strategy?

Collaborating with external partners

What is an example of incremental innovation?

Updating a smartphone’s camera quality

Which is a characteristic of radical innovation?

It fundamentally changes an industry

It allows for testing and iteration

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INN QUIZ1

20 termsStudBud Administration

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Questions 20

Answers

1
Which of the following is NOT a type of innovation?
Incremental innovation
Radical innovation
Passive innovation
Disruptive innovation
2
15
Government regulations
Lack of market need
Excessive competition
Too much funding
3
Which element is NOT part of the Business Model Canvas?
Employee Benefits
Customer Segments
Value Proposition
Revenue Streams
4
Which of these is NOT a common source of innovation?
Ignoring market needs
Customer feedback
Market trends
Technological advancements
5
18
A fundamental change in business strategy
An advertising technique
A minor design tweak
A temporary marketing campaign
6
19
McDonald's
IBM
Amazon
Dropbox
7
17
Launch-Without-Feedback
Perfect-Then-Launch
Spend-Big-To-Grow
Build-Measure-Learn
8
Why is customer feedback important in innovation?
It is unnecessary for established companies
It eliminates competition
It helps refine and improve products
It guarantees immediate success
9
Which of the following best describes disruptive innovation?
Gradual improvement of existing products
An innovation that only benefits existing customers
Innovation that creates a new market and disrupts existing ones
A marketing strategy
10
What is a key characteristic of a startup?
Large initial investments
Guaranteed success
Rapid growth potential
Immediate profitability
11
16
High expenses
Lack of competition
Market demand
Strict corporate rules
12
What is the purpose of a business model?
To describe how a company creates, delivers, and captures value
To describe employee roles
To dictate company policies
To limit innovation
13
What is the primary focus of INN262?
Cybersecurity
Innovation
Data Science
Software Development
14
What does MVP stand for in product development?
Maximum Value Proposition
Most Valuable Player
Market Viability Plan
Minimum Viable Product
15
What role does technology play in innovation?
It prevents market competition
It enables and accelerates innovation
It makes traditional business models obsolete
It replaces the need for creativity
16
What is an example of an open innovation strategy?
Collaborating with external partners
Ignoring competitor strategies
Keeping all research in-house
Avoiding customer involvement
17
What is an example of incremental innovation?
Developing artificial intelligence
Updating a smartphone’s camera quality
Inventing the internet
Creating the first smartphone
18
Which is a characteristic of radical innovation?
It only affects small businesses
It fundamentally changes an industry
It is a minor improvement on existing products
It has no market impact
19
20
It prevents market changes
It guarantees success
It eliminates competitors
It allows for testing and iteration
20
Which company is known for disruptive innovation?
A traditional newspaper
A bookstore
A local taxi service
Uber

INN QUIZ1 Flashcards | StudBud