SBE 330 Final Exam Answers
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(TCO 1) What characteristics describe innovative
organizations? If you were attempting to transform an average organization into
an innovative organization, what is the most significant obstacle you might
encounter?
(TCO 2) How is corporate venturing used as an aid
to search for innovation opportunities? Explain the relationship of the
organization’s strategic plan and vision statement to the corporate venturing
methodology.
(TCO 3) Compare and contrast assembly
customization with design customization. Why are efforts to maintain barriers
to existing or new competitors using assembly customization of limited
effectiveness?
(TCO 4) What is product liability? How might it
impact a firm?
(TCO 5) When engaged in strategic management
activities, a choice is often made between innovation leadership and innovation
followership. Compare and contrast these two activities. When might management
teams find an innovation leadership role a possible disadvantage? Describe at
least two reasons for the possible disadvantage.
(TCO 6) When developing products, what does the
term relative advantage mean? Explain why management teams should be concerned
about a new product’s relative advantage.
(TCO 7) When a product is launched, the strategic
plan is generally focused on success. Not all product launches succeed,
however, and failure is sometimes encountered. Should a strategic plan have a
section devoted to terminating the launch if certain criteria are met, or
should the plan contain provision for the launch to continue until the market
determines success or failure? Defend your response.
(TCO 8) When developing a marketing plan, we
should consider market differentiation. What does market differentiation mean?
Explain why relative quality in conjunction with market differentiation is
important to our marketing effort.
(TCO 9) Products fail for many reasons, and
testing can identify possible failure points before launch. When preparing a
budget for product testing, explain why or why not you would invest the time
and money to identify delighters, those things that make customers happy even
if customers do not explicitly demand these features. If you would, what
technique would you use to identify delighters?
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