Question 1

Rising labor costs, higher shipping costs, and public criticisms about destroying local jobs can cause global firms to return to their home countries.

Accepted Answer

A) True 
 B)False

Question 2

Competitive advantage can be achieved through _____ by finding ways and using technology to adjust and tailor products and services to fit customer needs in ways that are difficult for one's competitor to match.

Accepted Answer

A)  quality 
B)  costs 
C)  flexibility 
D)  delivery 
E)  durability

Question 3

Which of the following examples displays a firm with a competitive advantage achieved through quality?

Accepted Answer

A)  An organization that is famous for its durable products 
B)  A corporation that reduces its expenses by finding new production processes 
C)  A firm that delivers goods and services faster than its competitors 
D)  An organization that gains profits by charging less prices 
E)  A company that tailors its goods and services to fit consumer needs and preferences

Question 4

The R&D department of Meredith Inc., a tire manufacturing, discovers a new material to be used as an alternative to rubber that brings down the manufacturing costs. This allows the company to offer its products at a price lower than the market price. The newly discovered material is the company's:

Accepted Answer

A)  disruptive innovation. 
B)  competitive advantage. 
C)  natural capital. 
D)  environmental capital. 
E)  competitive environment.

Question 5

Older generations are digital ____ because they have ____.

Accepted Answer

A)  immigrants; grown up in technology-enriched homes, schools, and friendship environments 
B)  immigrants; had to learn technology to work, socialize, date, and think about what's important in their lives 
C)  natives; grown up in technology-enriched homes, schools, and friendship environments 
D)  natives; had to learn technology to work, socialize, date, and think about what's important in their lives

Question 6

Innovation refers to the:

Accepted Answer

A)  lack of information regarding what exists in the environment. 
B)  people and groups with whom an organization interacts. 
C)  process of taking a new idea and putting it into practice. 
D)  return of jobs from foreign locations as companies establish new domestic operations. 
E)  things that an organization does extremely well and that gives it an advantage.

Question 7

Brazen Inc. introduced a new line of deodorized clothes produced with natural ingredients such as flowers and fruits, to reduce the impact of the environmental hazards caused by the production of deodorants. This implies that Brazen Inc. was engaging in _____.

Accepted Answer

A)  process innovation 
B)  business model innovation 
C)  product innovation 
D)  skimming 
E)  performance innovation

Question 8

Which of the following is the final step wheel of innovation?

Accepted Answer

A)  Imagining 
B)  Experimenting 
C)  Assessing 
D)  Designing 
E)  Scaling

Question 9

Which of the following steps in the innovation process involves building initial models, prototypes, or samples?

Accepted Answer

A)  Imagining 
B)  Experimenting 
C)  Assessing 
D)  Designing 
E)  Scaling

Question 10

The specific ____ includes the people and groups with whom an organization interacts.

Accepted Answer

The answer of The specific ____ includes the people and...

Question 11

_____ innovation pulls new products and services from settings, where they are often created under pricing constraints, and pushes them into use elsewhere.

Accepted Answer

A)  Disruptive 
B)  Reverse 
C)  Luxurious 
D)  Product 
E)  Business model

Question 12

Which of the following steps in the innovation process involves thinking about new possibilities?

Accepted Answer

A)  Imagining 
B)  Experimenting 
C)  Assessing 
D)  Designing 
E)  Scaling

Question 13

Four Rollers Corp., an automobile company, benefits by spending less than its competitors on labor, operations, promotions, and features offered. This enables the firm to charge relatively lower prices on its goods from its customers. Which of the following is a competitive advantage of the firm?

Accepted Answer

A)  High quality 
B)  Low costs 
C)  Flexibility 
D)  Delivery 
E)  Adaptability

Question 14

In a country, the web access through mobile devices doubled each year since 2009 and during 2010, on an average, 2 million people used Facebook each day. Which of the following environmental condition does this information portray?

Accepted Answer

A)  Economic condition 
B)  Legal-political condition 
C)  Natural condition 
D)  Socio-cultural condition 
E)  Technological condition

Question 15

Garsynth Corporation specializes in preparing eco-friendly products out of solid waste, old newspapers, and waste plastic. The firm employs individuals belonging to the weaker economic sections of the city. The company has engaged in _____ innovation.

Accepted Answer

A)  product 
B)  red ocean 
C)  reverse 
D)  breakthrough 
E)  social business

Question 16

Which of the following are characterized by ease of multitasking, desire for immediate gratification, continuous contact with others, and less concern with knowing things than with knowing where to find out about things?

Accepted Answer

A)  digital immigrants 
B)  digital natives 
C)  generational cohorts 
D)  green job candidates 
E)  reputations managers

Question 17

Innovation is a low priority when executives and leaders try to steer organizations through complex and uncertain environments.

Accepted Answer

A) True 
 B)False

Question 18

____ is the outsourcing of jobs to foreign locations.

Accepted Answer

The answer of ____ is the outsourcing of jobs to...

Question 19

Generational cohorts consist of people born within a few years of one another and who experience somewhat similar life events during their formative years.

Accepted Answer

A) True 
 B)False

Question 20

Business model innovations result in new ways of making money for the firm.

Accepted Answer

A) True 
 B)False

Exam 4: Environment, Technology, and Sustainability

Rising labor costs, higher shipping costs, and public criticisms about destroying local jobs can cause global firms to return to their home countries.

Competitive advantage can be achieved through _____ by finding ways and using technology to adjust and tailor products and services to fit customer needs in ways that are difficult for one's competitor to match.

Which of the following examples displays a firm with a competitive advantage achieved through quality?

The R&D department of Meredith Inc., a tire manufacturing, discovers a new material to be used as an alternative to rubber that brings down the manufacturing costs. This allows the company to offer its products at a price lower than the market price. The newly discovered material is the company's:

Older generations are digital because they have .

Innovation refers to the:

Brazen Inc. introduced a new line of deodorized clothes produced with natural ingredients such as flowers and fruits, to reduce the impact of the environmental hazards caused by the production of deodorants. This implies that Brazen Inc. was engaging in _____.

Which of the following is the final step wheel of innovation?

Which of the following steps in the innovation process involves building initial models, prototypes, or samples?

The specific ____ includes the people and groups with whom an organization interacts.

_____ innovation pulls new products and services from settings, where they are often created under pricing constraints, and pushes them into use elsewhere.

Which of the following steps in the innovation process involves thinking about new possibilities?

Four Rollers Corp., an automobile company, benefits by spending less than its competitors on labor, operations, promotions, and features offered. This enables the firm to charge relatively lower prices on its goods from its customers. Which of the following is a competitive advantage of the firm?

In a country, the web access through mobile devices doubled each year since 2009 and during 2010, on an average, 2 million people used Facebook each day. Which of the following environmental condition does this information portray?

Garsynth Corporation specializes in preparing eco-friendly products out of solid waste, old newspapers, and waste plastic. The firm employs individuals belonging to the weaker economic sections of the city. The company has engaged in _____ innovation.

Which of the following are characterized by ease of multitasking, desire for immediate gratification, continuous contact with others, and less concern with knowing things than with knowing where to find out about things?

Innovation is a low priority when executives and leaders try to steer organizations through complex and uncertain environments.

____ is the outsourcing of jobs to foreign locations.

Generational cohorts consist of people born within a few years of one another and who experience somewhat similar life events during their formative years.

Business model innovations result in new ways of making money for the firm.