NETW 583 Strategic Management of Technology Week 4 Midterm Exam (Version 3) Latest Verified Review 2023 Practice Questions and Answers for Exam Preparation, 100% Correct with Explanations, Highly Recommended, Download to Score A+

NETW 583 Strategic Management of Technology Week 4 Midterm Exam (Version 3) Latest Verified Review 2023 Practice Questions and Answers for Exam Preparation, 100% Correct with Explanations, Highly Recommended, Download to Score A+ 1. Question: TCO A - The Solow Residual refers to You’re Answer: the increased amount of output achievable from a given quantity of labor and capital due to technological innovation. CORRECT The less developed nations of the world being left behind due to their slower development of technology. Obsolete products left on the market due to the accelerated product life cycle. The reduction in the amount of inventory needed by manufacturing firms due to technological improvements in inventory management. The extra leisure time consumers now enjoy as a result of technological innovation. Points Received: 5 of 5 2. Question: TCO A - Which of the following is true about technology trajectories? Your Answer: a technology is always replaced by a new technology after its trajectory has flattened (i.e., it has reached its performance limits) Most technology s-curves last about twenty years Some technologies have steeper s-curves than others CORRECT A technology’s progress along the s-curve cannot be sped up or slowed down Points Received: 5 of 5 3. Question: TCO B - When you buy a product on eBay you can pay for it using an online payment system called PayPal (which accepts credit cards or electronic funds transfers). The payment system is heavily secured using encryption technology. PayPal is offering simplicity, convenience and __________ utility levers according to the Kim and Mauborgne model. You’re Answer: cost INCORRECT Fun and image Environmental friendliness Risk CORRECT ANSWER Instructor Explanation: Page: 71 Points Received: 0 of 5 4. Question: TCO B - One advantage cell phone customers in the European Union (EU) had over U.S. customers early in the adoption of cells phones is that… Your Answer: they had a greater variety of cell phone technology to choose from They had a single standard cell phone format that would work in different countries such as Germany, France, and the U.K. CORRECT They always had cheaper rates than in the U.S. Phones were always free if you paid for service contracts. Instructor Explanation: Page: 70 Points Received: 5 of 5 5. Question: TCO A - At a retreat by the Salisbury City Council, community leaders held a discussion on attracting and developing new businesses and increasing employment rates in the city. One leader suggested that the city consider sponsoring a business incubator. Explain what an incubator is and how this might help the city meet its goals. Your Answer: Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by a cities incubator management plans and offered both in the incubator and through its network of contacts. Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term. Historically, a high majority of incubator firms stay in business. Other eastern cities Like Boston among others offer free cubical space to start up firms and alongside other entrepreneurships, I/E a Technology Entrepreneur will have access to other entrepreneurs like marketing and account firm start ups since they are across from the free cube. For example many of the East coast IT consulting firms were started in this manner and often utilized other firm’s adjacent form their cubicles to keep their own costs down, and have a mutually beneficial cross client relationships with the other business professionals. Many of these firms thrive today do the Networking relationships and agreements that have mutually benefited all parties. the government subsidies on the Incubator technology parks may be expensive however allowing a small business to thrive and grow leads to job creation , not only that but as rented office parks demand is high the property taxes help the local governments recoup as well as income taxes on employees as well as on the firms thus as the firm grows they reap the benefits of their investments , and making the firm well networked in the community helps root the firm to keep to the city they helped it grow, as a majority of its business relationships are form that locality. Instructor Explanation: An incubator is an institution designed to nurture the development of new businesses that might otherwise lack access to funding or advice. It allows companies to share costs and resources until they can stand on their own. If an incubator were started in Salisbury, it would help new businesses to grow and prosper. These businesses could then move out to locations of their own and hire local residents as employees. The city would not have to offer tax breaks or compete with other cities for the location of existing companies, but would be growing their own businesses. Page: 27 Points Received: 30 of 30 Comments: Good answer.