5.2 Innovation

What is the primary purpose of innovation?

• To maintain traditional product designs

• To solve problems and create value

• To reduce manufacturing complexity

• To eliminate competition

What is an example of modular innovation?

• Replacing a rotary dial with push buttons on phones

• Invention of the first smartphone

• The development of cloud computing services

• Creating entirely new product categories

What type of innovation replaces existing products and disrupts established markets?

• Sustaining innovation

• Modular innovation

• Disruptive innovation

• Incremental innovation

Which innovation involves improving existing products to increase performance?

• Radical innovation

• Incremental innovation

• Architectural innovation

• Process innovation

What is a characteristic of architectural innovation?

• It modifies individual components while keeping core concepts intact

• It creates entirely new products with no ties to previous designs

• It focuses solely on aesthetic changes

• It only applies to manufacturing processes

What is the primary feature of radical innovation?

• Minor adjustments to existing technologies

• Overhauling the core concept of a product

• Focusing solely on environmental impact

• Optimizing production efficiency

What is diffusion in the context of innovation?

• The process of spreading knowledge about new products

• The development of marketing strategies

• The consolidation of manufacturing techniques

• The decline of obsolete technologies

Which stage of Rogers' diffusion curve includes the majority of consumers?

• Innovators

• Early adopters

• Early majority

• Laggards

What does IP (Intellectual Property) protect?

• Physical goods only

• Trade secrets

• Manufacturing patents exclusively

• Ideas, designs, and creations of the mind

What does the term 'patent pending' indicate?

• The patent has been approved

• The invention is under evaluation for patent approval

• The patent has expired

• The invention is public domain