I&E Quiz

What is the primary goal of innovation?

• To create novelty
• To solve problems and create value
• To imitate competitors
• To reduce costs only
• To eliminate competition

Answer explanation

Innovation introduces new or improved ideas/products that solve problems and create value for users/businesses.

Which of the following is an example of radical innovation?

• Incremental updates to a smartphone
• Uber's ride-sharing model
• A new flavor of soda
• A minor improvement to a laptop battery
• A redesigned logo

Answer explanation

Radical innovations disrupt markets; Uber redefined transportation.

What is the first stage of the innovation process?

• Screening
• Idea Generation
• Development
• Commercialization
• Implementation

Answer explanation

Innovation begins with generating ideas based on market needs.

Which company used Lean Manufacturing to reduce waste?

• Tesla
• Toyota
• Apple
• Amazon
• Netflix

Answer explanation

Toyota pioneered Lean Manufacturing to improve efficiency.

What is the focus of Design Thinking?

• Profit maximization
• User-centered problem-solving
• Competitor analysis
• Cost reduction
• Marketing strategies

Answer explanation

Design Thinking emphasizes understanding user needs to develop solutions.

Which phase of Design Thinking involves brainstorming solutions?

• Empathize
• Define
• Ideate
• Prototype
• Test

Answer explanation

Ideation is the phase where multiple solutions are generated.

What was Airbnb's core problem identified through Design Thinking?

• High prices
• Lack of properties
• User trust issues
• Poor website design
• Limited locations

Answer explanation

Airbnb addressed trust issues with verified profiles and reviews.

Which tool maps user emotions and behaviors?

• SWOT Analysis
• Empathy Map
• Business Model Canvas
• Gantt Chart
• Pareto Chart

Answer explanation

Empathy Maps capture user thoughts, feelings, and behaviors.

What is the purpose of an MVP?

• To launch a perfect product
• To test core functionality with users
• To replace competitors
• To maximize initial profits
• To eliminate prototyping

Answer explanation

An MVP validates the product idea with minimal features.

Which company pivoted from DVDs to streaming?

• Tesla
• Netflix
• Amazon
• Uber
• Airbnb

Answer explanation

Netflix transitioned to streaming based on market trends.