Student
Chapter 01
Introduction
True/False
1. The globalization of markets and the importance of innovation are independent of one another.
Answer: False
Difficulty: Easy
Page: 1
2. Flexible manufacturing technologies have increased the importance of production economies of scale.
Answer: False
Difficulty: Easy
Page: 1 3. Innovation and new technology have led to longer product life cycles as better quality products are being produced.
Answer: False
Difficulty: Moderate
Page: 2
4.. The increased pace of innovation has only had a negligible effect on market segmentation and product obsolescence.
Answer: False
Difficulty: Easy
Page: 2
5. Slow innovation results in diminishing margins and product obsolescence.
Answer: True
Difficulty: Moderate
Page: 2 6. Technological innovation can have a positive impact on our quality of life through improved goods and services.
Answer: True
Difficulty: Moderate
Page: 4
7. Technology’s effects on society are always positive.
Answer: False
Difficulty: Easy
Page: 4
8. Technology in its purest form is not knowledge, but rather faith that things will get better.
Answer: False
Difficulty: Easy
Page: 4
9. Firms that charge headlong into new product development usually have short development cycles.
Answer: False
Difficulty: Moderate
Page: 4
10. Studies have revealed that innovation is a freewheeling process that is unconstrained by rules and plans.
Answer: False
Difficulty: Easy
Page: 4
11. The majority of effort and money invested in technological innovation comes from industrial firms.
Answer: True
Difficulty: Moderate
Page: 4
12. GDP does relate very directly to the amount of goods consumers can purchase.
Answer: True
Difficulty: Easy
Page: 4
13. Practically all innovative ideas become successful products.
Answer: False
Difficulty: Easy
Page: 5
14. If an idea can be shown to be technologically feasible, it is guaranteed to be
Introduction
True/False
1. The globalization of markets and the importance of innovation are independent of one another.
Answer: False
Difficulty: Easy
Page: 1
2. Flexible manufacturing technologies have increased the importance of production economies of scale.
Answer: False
Difficulty: Easy
Page: 1 3. Innovation and new technology have led to longer product life cycles as better quality products are being produced.
Answer: False
Difficulty: Moderate
Page: 2
4.. The increased pace of innovation has only had a negligible effect on market segmentation and product obsolescence.
Answer: False
Difficulty: Easy
Page: 2
5. Slow innovation results in diminishing margins and product obsolescence.
Answer: True
Difficulty: Moderate
Page: 2 6. Technological innovation can have a positive impact on our quality of life through improved goods and services.
Answer: True
Difficulty: Moderate
Page: 4
7. Technology’s effects on society are always positive.
Answer: False
Difficulty: Easy
Page: 4
8. Technology in its purest form is not knowledge, but rather faith that things will get better.
Answer: False
Difficulty: Easy
Page: 4
9. Firms that charge headlong into new product development usually have short development cycles.
Answer: False
Difficulty: Moderate
Page: 4
10. Studies have revealed that innovation is a freewheeling process that is unconstrained by rules and plans.
Answer: False
Difficulty: Easy
Page: 4
11. The majority of effort and money invested in technological innovation comes from industrial firms.
Answer: True
Difficulty: Moderate
Page: 4
12. GDP does relate very directly to the amount of goods consumers can purchase.
Answer: True
Difficulty: Easy
Page: 4
13. Practically all innovative ideas become successful products.
Answer: False
Difficulty: Easy
Page: 5
14. If an idea can be shown to be technologically feasible, it is guaranteed to be