Which one of the following four statements is correct?
Invention and innovation amount to the same thing.
In manufacturing industry, process innovation can be a greater source of competitive advantage than product innovation.
A firm that pursues a policy of basic innovation to create a breakthrough product is likely to be more successful than the firm that relies on incremental approaches to innovation.
Innovations can be classified as either demand pull or technology push.
Which one of the following four statements is correct?
The UK R&D Scoreboard is a measure of R&D effectiveness.
Internationally the pharmaceuticals and biotechnology sector spend most on R&D.
An innovative design can always transform an ordinary product and increase sales.
Few firms engage in pure research.
Which one of the following four statements is correct?
Most owners of small firms can be classed as entrepreneurs.
A number of social factors can be identified which act as a supporting framework for entrepreneurs. The same social factors can also operate as barriers to entrepreneurship.
Successful entrepreneurs can be identified by a cluster of personality traits.
There are different kinds of entrepreneurs, such as craftsmen, opportunists and organization builders. However, they all share the same basic skills and personality characteristics.
Which one of the following four statements is correct?
Levels of innovation are motivated by cycles of economic growth and decline.
Firms that invest heavily in R&D are likely to be more profitable in the long term.
Patents can be used as accurate measures of innovation.
There is evidence to suggest that people will pay more for goods of superior technical quality.
Which one of the following four statements is correct?
Whilst governments can stimulate innovation via funding and other policies, the control of projects is more difficult due to their lack of detailed knowledge.
In a free market economy the state has little involvement in the innovation activity of private firms.
The state makes a vital contribution to innovation by underwriting expensive projects in pharmaceuticals and aerospace.
Patent law protects innovations and the firm’s investment in innovation by allowing them to keep them secret for 20 years.
Which one of the following four statements is correct?
The Japanese and the Germans are more innovative than the British.
In general US, Japanese and German firms reinvest a higher proportion of their profits in new product and process developments than do UK firms.
Because the Japanese file more patent applications than the British, it shows that they are more inventive.
Japanese and German economic growth is attributable to their approaches to innovation.
Which one of the following four statements is correct?
The UK spends around the same proportion of its GDP on R&D as other advanced industrial countries.
UK managers are less interested in innovation than those in other countries.
Investment in R&D in the UK has in the past been handicapped by relatively high interest rates on borrowing.
Investment rates in R&D are highest in those countries that value long-termism, as defined by Hofstede and lowest in those valuing short-termism.
Which one of the following four statements is correct?
There is a clear relationship between firm size and innovation.
Firms of less than 1000 employees account for almost half the innovations in the UK.
Small firms spend more on R&D as a proportion of total sales and they employ proportionally more staff in R&D functions than do larger firms.
Longitudinal studies show that an early emphasis on process innovation changes over time to a focus on product innovation.
Which one of the following four statements is correct?
In organic organizations knowledge is based throughout the organization and contribution to innovation is widespread.
In mechanistic organizations upward communication is discouraged.
Mechanistic organizations are unable to compete in modern markets.
Mechanistic organizations are not innovative because of their focus on experience and knowledge gained only within the organization.
Which one of the following four statements is correct?
Firms that are first to the market with an innovation are invariably more successful than those firms that pursue follower strategies.
Tacit knowledge is a more important source of information than explicit knowledge.
The first firm to patent an invention will control the market.
We can identify the characteristics of innovative firms and these characteristics can be used by managers to change the culture of a firm and develop innovative activity.