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Exam 7: Business Strategy: Innovation, Entrepreneurship, and Platforms

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Question 21

Multiple Choice

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When the market for photo film negatives declined with the arrival of digital cameras, Momento Films Inc., a manufacturer of film negatives, bought out most of its rivals that were planning to exit.This allowed the company to get rid of all the excess capacity and acquire a monopolistic market power in the declining industry.Which of the following strategies has Momento Films adopted in this scenario?

A) Harvest strategy
B) Maintain strategy
C) Consolidated strategy
D) Differentiation strategy

E) A) and B)
F) C) and D)

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Question 22

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Which of the following customer segments as described in the chasm framework make up the mass market?

A) The early and late majority together
B) The early adopters alone
C) The technology enthusiasts and laggards together
D) The technology enthusiasts alone

E) A) and B)
F) B) and D)

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Question 23

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Though Wave Electronics Inc.still sells its VCR players, a product in its decline stage, the investments made by the company on improving or marketing the product are very low.The company has allocated the least amount of human and financial capital to this department.Which of the following strategies has Wave Electronics adopted in this scenario?

The typical four-step innovation process begins with:

Discuss the factors favoring the success of disruptive innovation.

A _____ is best described as a form of intellectual property that gives the inventor exclusive rights to benefit from commercializing a technology for a specified time period in exchange for public disclosure of the underlying idea.

What are the competitive benefits that first movers in an industry experience?

Norce Autos Inc.allows its customers, suppliers, researchers, and the community in general to contribute their ideas toward new product developments.Customers and other interested stakeholders can let the company know what new features they want to see in their next car.If the company faces any technical complexities that its internal R&D team cannot solve, it posts the problem on its website and allows people from the external community to provide solutions.In this scenario, Norce Autos Inc.is primarily leveraging its:

Briefly discuss the steps in the innovation process.

What do you mean by social entrepreneurship?

What does the innovation process begin with?

Which of the following is a feature of the maturity stage of the industry life cycle?

A(n) _____ leverages new technologies to attack existing markets.

Does Procter & Gamble's "Connect + Develop" use an open innovation or closed innovation model? Provide reasons to support your answer.

How does the long tail business model allow online retailers to overcome the problem of thin markets?

In emerging economies, the LCD television industry is in that phase of the industry life cycle in which the previously increasing market demand becomes limited.The competitive intensity within the industry is high, and inefficient firms have begun to exit the industry.This has allowed only a few major companies to come out as cost leaders and hold the shrinking market.Which of the following stages of the industry life cycle is the LCD television industry currently in?

The strategic objective of businesses during the shakeout phase of the industry life cycle will primarily be to:

Why is it easier for new entrants to involve in radical innovations when compared to incumbent firms?

How was Wikipedia able to outperform both Encyclopedia Britannica and Microsoft Encarta?

SyncTouch Inc.is a manufacturer of cell phones.It has released an improvised version of its smartphone in markets in which the company already operates.Which of the following types of innovations does this scenario best illustrate?