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Related Flashcards
Cards In This Set
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41. If a
new technology is theoretically possible but has no economic practicality, the
technology will probably not emerge.
True False |
TRUE
As a force
that drives technological development, a company must be able to convert
scientific knowledge into practice in engineering and economic terms.
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42. The
product life cycle is a predictable pattern followed by a technological
innovation, from its inception and development to market saturation and replacement.
True False |
FALSE
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43. Innovators
are adventurous and willing to take risks.
True False |
TRUE
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44. Being
the first to develop or adopt a new technology always leads to immediate
advantage and high profits.
True False |
FALSE
While such
potential may exist, technology leadership does impose high costs and risks
that followers do not have to bear. Being the leader thus can be more costly
than being the follower.
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45. The
appropriate time for an organization to adopt technological innovations is when
the costs and risks of switching to the technology are outweighed by the
benefits.
True False |
TRUE
This point
will be different for each organization, with some organizations benefiting
from a leadership, early adopter role, and others from a followership role,
depending on each organization's characteristics and strategies.
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46. Emerging
technologies are those that have proven effective, but they also provide a strategic
advantage because not everyone uses them.
True False |
FALSE
Emerging
technologies are still under development and thus are unproved.
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47. Base
technologies provide a competitive advantage.
True False |
FALSE
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48. The
exploding growth in piracy or fakery of patented pharmaceuticals, software, and
other products has added new barriers to economic viability.
True False |
TRUE
Globalization
has created a worldwide market for goods produced by low-cost counterfeiters
and pirates overseas, which have the added advantage that they do not have to
incur research and development expense, causing a barrier to economic viability
for the ‘real' manufacturers.
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49. Companies
who are seen as proactive "technology-push" innovators tend to have
cultures that are more outward-looking and opportunistic.
True False |
TRUE
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50. Early
adopters of new technologies tend to be more profitable.
True False |
TRUE
Early adopter
firms tend to be larger, more profitable, and more specialized. Thus they are
in an economic position to absorb the risks associated with early adoption while
profiting more from its advantages.
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51. A CTO
is the executive in charge of training strategy and development.
True False |
FALSE
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52. Key
roles in acquiring and developing new technologies are the technical innovator,
product developer and executive champion.
True False |
FALSE
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53. Bureaucracy
is the best friend of innovation.
True False |
FALSE
Bureaucracy is
an enemy of innovation. Its main purpose is maintaining orderliness and
efficiency, not pushing the creative envelope.
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54. The
forces that drive technological development include
A. resource availability and product innovation. B. entrepreneurial initiative and the capability to convert practice into knowledge. C. a need or demand and product innovation. D. resource availability and a need or demand. E. the capability to convert practice into knowledge and economic practicality. |
D. resource
availability and a need or demand.
Resource availability, a need or demand, entrepreneurial initiative and the ability to convert knowledge into practice are all forces that drive technological development. |
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55. Which
group of adopters of a new technology is critical to the technology's
success?
A. Early adopters B. Late majority C. Innovators D. Early majority E. Laggards |
A. Early
adopters
This group is critical to the success of a new technology, because its members include well-respected opinion leaders. |
