,7) Irrespective of the type of technological innovations, externalities that result from them are
always positive.
Answer: FALSE
Difficulty: 1 Easy
Topic: The Impact of Technological Innovation on Society
Accessibility: Keyboard Navigation
8) Technological innovation results in complete eradication of negative externalities.
Answer: FALSE
Difficulty: 1 Easy
Topic: The Impact of Technological Innovation on Society
Accessibility: Keyboard Navigation
9) If a pharmaceutical company discharges untreated chemical waste into local water bodies of a
community, it will impose a negative externality on the community members.
Answer: TRUE
Difficulty: 1 Easy
Topic: The Impact of Technological Innovation on Society
Accessibility: Keyboard Navigation
10) A firm's organizational structure and control systems seldom have an influence on the
generation of innovative ideas.
Answer: FALSE
Difficulty: 1 Easy
Topic: The Impact of Technological Innovation on Society
Accessibility: Keyboard Navigation
11) Most innovative ideas do not become successful new products.
Answer: TRUE
Difficulty: 1 Easy
Topic: Innovation by Industry: The Importance of Strategy
Accessibility: Keyboard Navigation
12) The majority of effort and money invested in technological innovation comes from
nonindustrial firms.
Answer: FALSE
Difficulty: 1 Easy
Topic: Innovation by Industry: The Importance of Strategy
Accessibility: Keyboard Navigation
, 13) The innovation process is often conceived of as a funnel because most potential new product
ideas make it through the development process.
Answer: FALSE
Difficulty: 1 Easy
Topic: Innovation by Industry: The Importance of Strategy
Accessibility: Keyboard Navigation
14) According to the concept of innovation funnel, the number of successful products launched
will be greater than the number of raw ideas generated.
Answer: FALSE
Difficulty: 1 Easy
Topic: Innovation by Industry: The Importance of Strategy
Accessibility: Keyboard Navigation
15) According to the concept of the innovation funnel, one new idea is usually responsible for
several new products.
Answer: FALSE
Difficulty: 1 Easy
Topic: Innovation by Industry: The Importance of Strategy
Accessibility: Keyboard Navigation
16) Which of the following is an advantage of flexible manufacturing technologies?
A) They have made shorter production runs economical.
B) They have increased the importance of production economies of scale.
C) They have eliminated the need for differentiation from competitors.
D) They have reduced the importance of technological innovation in industries.
Answer: A
Difficulty: 2 Medium
Topic: The Importance of Technological Innovation
Accessibility: Keyboard Navigation
17) As a result of the rapid pace of innovation:
A) product life cycles have become shorter.
B) product development cycles have become significantly longer.
C) market segmentation has reduced.
D) product obsolescence has slowed down.
Answer: A
Difficulty: 1 Easy
Topic: The Importance of Technological Innovation
Accessibility: Keyboard Navigation
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