The Advantages and Disadvantages Of Innovation and ‘r & D’

1. New innovations can be destructive as well as beneficial to business

True

False

Businesses that don't innovate successfully won't survive over those that do

Explanation

Businesses that don't innovate successfully won't survive over those that do

2. Innovation could be described as a new invention, a discovery or a change in a process.

True

False

The given statement is true because innovation refers to the creation or introduction of something new, whether it is an invention, a discovery, or a change in a process. It involves bringing fresh ideas, methods, or products to improve upon existing ones or to create something entirely novel. Innovation is crucial in various fields such as technology, science, business, and even in everyday life, as it drives progress and growth by pushing boundaries and finding better ways of doing things.

Explanation

The given statement is true because innovation refers to the creation or introduction of something new, whether it is an invention, a discovery, or a change in a process. It involves bringing fresh ideas, methods, or products to improve upon existing ones or to create something entirely novel. Innovation is crucial in various fields such as technology, science, business, and even in everyday life, as it drives progress and growth by pushing boundaries and finding better ways of doing things.

3. The R & D department is nowadays of no importance in business because the amount of competition, production processes and methods are on the decline.

True

False

The statement is false because the R&D department is still of great importance in business. While competition may be increasing, this actually makes it even more crucial for companies to invest in research and development in order to stay competitive. Additionally, advancements in technology and changes in consumer preferences require businesses to constantly innovate and improve their production processes and methods, making the R&D department essential for driving these improvements.

Explanation

The statement is false because the R&D department is still of great importance in business. While competition may be increasing, this actually makes it even more crucial for companies to invest in research and development in order to stay competitive. Additionally, advancements in technology and changes in consumer preferences require businesses to constantly innovate and improve their production processes and methods, making the R&D department essential for driving these improvements.

4. Which business in 1997 became innovative by introducing a new competitive advantage of being environmentally friendly?

BP Oil

Toyota

McDonald's

Muller

Toyota released the new hybrid car called Prius in 1997

Explanation

Toyota released the new hybrid car called Prius in 1997

5. Guess what range of innovation projects were judged to have made little, if any, contribution to achieving the objectives of a business

50-90%

0-5%

95-99%

10-20%

Innovation projects that are judged to have made little, if any, contribution to achieving the objectives of a business would fall within the range of 50-90%. This suggests that these projects have not been successful in significantly impacting the business's goals and outcomes. The range indicates that there is some level of contribution, but it is not substantial enough to be considered effective or impactful.

Explanation

Innovation projects that are judged to have made little, if any, contribution to achieving the objectives of a business would fall within the range of 50-90%. This suggests that these projects have not been successful in significantly impacting the business's goals and outcomes. The range indicates that there is some level of contribution, but it is not substantial enough to be considered effective or impactful.

6. Which of these are benefits to a business when buying new technology?

Higher efficiency

Low initial costs

Increased output

Less human error

Higher maintenance and repair costs

When a business invests in new technology, it can experience higher efficiency because the new technology is designed to streamline processes and automate tasks. This can save time and resources, ultimately leading to increased productivity and output. Additionally, new technology often reduces the likelihood of human error, as it can perform tasks with greater accuracy and precision. However, it is important to note that while new technology can offer these benefits, it may also come with higher maintenance and repair costs in the long run.

Explanation

When a business invests in new technology, it can experience higher efficiency because the new technology is designed to streamline processes and automate tasks. This can save time and resources, ultimately leading to increased productivity and output. Additionally, new technology often reduces the likelihood of human error, as it can perform tasks with greater accuracy and precision. However, it is important to note that while new technology can offer these benefits, it may also come with higher maintenance and repair costs in the long run.

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7. Which of these are technology innovations of 2010?

Parrot AR Drone Flying Video Game

150" plasma HDTV

Digital photo frames

Freeview HD recorder

The Parrot AR Drone Flying Video Game and Freeview HD recorder are both technology innovations of 2010. The Parrot AR Drone is a remote-controlled quadcopter that can be controlled using a smartphone or tablet, combining the fun of flying a drone with the interactivity of a video game. Freeview HD recorder, on the other hand, is a device that allows users to record and store high-definition television broadcasts from Freeview, a digital terrestrial television platform in the UK. Both of these innovations were introduced in 2010 and brought new and exciting technological advancements to the market.

Explanation

The Parrot AR Drone Flying Video Game and Freeview HD recorder are both technology innovations of 2010. The Parrot AR Drone is a remote-controlled quadcopter that can be controlled using a smartphone or tablet, combining the fun of flying a drone with the interactivity of a video game. Freeview HD recorder, on the other hand, is a device that allows users to record and store high-definition television broadcasts from Freeview, a digital terrestrial television platform in the UK. Both of these innovations were introduced in 2010 and brought new and exciting technological advancements to the market.

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