What is the primary disadvantage of new business/entrepreneurship as a method for innovation?

Correct answer: It has the highest risk factor.

Explanation

This question focuses on the trade-offs of different innovation methods, specifically identifying high risk as the main drawback of pursuing innovation through a new entrepreneurial venture.

Other questions

Question 1

What is the definition of organizational technology as described in the chapter?

Question 2

According to the text, which of the following is NOT one of the '5 Cs' of innovation management?

Question 3

What is the term for an organization's logic of how technology will be used and what role it will have, such as deciding between a first-to-market or a follow-up strategy?

Question 4

What is the primary advantage of using an external process, like a merger or acquisition, for technological innovation?

Question 5

Which type of external innovation process involves a long-term alliance creating a new entity to carry out a specific product or process innovation, governed by a contractual relationship?

Question 6

What is the most common type of internal process for technology and innovation within an organization?

Question 7

In the context of MTI, what are the two key questions that a firm's value proposition must answer for an entrepreneurial venture?

Question 8

Which term describes knowledge that emerges from an individual's experience and is difficult to codify or write down?

Question 9

What is defined as the process of seeking or accepting influence, and is considered the mirror image of leadership?

Question 10

Which of the following is NOT listed as a characteristic of a good follower?

Question 11

In what year did Acer acquire 29.9 percent of Olidata?

Question 12

According to the chapter, what was the primary reason for Kodak's bankruptcy?

Question 13

Which of the following is NOT one of the three basic organizational processes for creating new technologies and innovations?

Question 14

What company is mentioned as having a policy of allowing employees time to work on their own innovative projects, which led to products like Google News?

Question 15

According to the chapter, under what circumstances are entrepreneurial activities that use a lean start-up process most successful?

Question 16

What is the term for the tendency of organizations to continue on their current trajectory, often by focusing on their current market and failing to innovate?

Question 17

What is NOT listed as a key component of an agile firm's strategy for managing technology and innovation in a dynamic environment?

Question 18

What percentage of Dolby Laboratories' revenues came from licensing its technology rather than producing competing products?

Question 19

Which of the following is identified as a disadvantage of internal R&D processes?

Question 20

In the opening case, when did Acer spin off its manufacturing operation to create Wistron Corp.?

Question 21

What is a key difference between leadership and followship as described in the chapter?

Question 22

Which of the following is NOT one of the three key questions that managers of technology and innovation must answer to keep pace with the future?

Question 24

The case of Henry Bessemer's steel-making process, where he could not codify his method for others but knew it from experience, is used to illustrate what concept?

Question 25

A BCG study on innovation found that to reach its potential, gender diversity needs to go beyond tokenism, with innovation performance only increasing significantly when the workforce included more than what percentage of women in management?

Question 26

What term describes the implementation of new ventures and idea generation in organizations?

Question 27

Which of the following is NOT one of the six critical areas that affect society and business and require good management of technology and innovation?

Question 28

In the opening case about Acer, what year did the company, then called Multitech, design Taiwan's first mass-produced computer product?

Question 29

When is it most appropriate for a firm to use external processes for acquiring innovation?

Question 30

In the case study about Guidance Software, what was their pioneering digital forensics tool called?

Question 31

Which company, in addition to Google, is cited as allowing employees time during the workweek to develop their own ideas, leading to the creation of Post-it Notes?

Question 32

Which of the following is NOT a limitation of forecasting mentioned in the chapter?

Question 33

What does the key term 'organizational learning' refer to?

Question 34

The process of taking an innovation or technology and trying to build more value by looking for ways to use it in different markets and places is known as what?

Question 35

What is the term for a promise by a company to a customer or market segment?

Question 36

In the Acer case study, which acquisition was key to their entrance into the smartphone market with the F900 and M900 models?

Question 37

What is the primary reason that a diverse team tends to be better at decision-making and problem-solving, according to a study in the Journal of Personality and Social Psychology?

Question 38

Which of these is NOT a skill that individuals within a firm need to enhance the management of technology and innovation processes?

Question 39

What term from the key list refers to the 'branch of knowledge that deals with the creation and use of technical means and the application of this knowledge for practical ends'?

Question 40

What is a major disadvantage of using mergers and acquisitions (M&A) for innovation?

Question 41

In what year did Acer sign a reciprocal patent licensing agreement with IBM, Intel, and Texas Instruments?

Question 42

Which of the following describes the key term 'strategic drift'?

Question 43

The text uses the case of Michael Dell starting his computer company in his dormitory room as an example of which innovation process?

Question 44

According to the case study on Guidance Software, their technology was NOT used in which of the following high-profile cases?

Question 45

What is described as an advantage of the New Business/Entrepreneurship method of innovation?

Question 46

In the Acer case study, which product launched in 2008 was described as the company's first mobile Internet device?

Question 47

When discussing the need for agility, the text gives an example of a change management failure when desktop computers were first introduced. What was NOT one of the reasons listed for this failure?

Question 48

According to a 2015 McKinsey report, companies in the top quartile for gender diversity were what percentage more likely to have financial returns above their industry mean?

Question 49

In the context of the '5 Cs' of innovation, what company is used as an example of failing to change due to its focus on mainframes while desktops and laptops were emerging?

Question 50

What is a major disadvantage of using a franchise agreement for innovation?