NETW 583 Strategic Management of Technology Final Exam MCQs 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 Final Exam MCQs Latest Verified Review 2023 Practice Questions and Answers for Exam Preparation, 100% Correct with Explanations, Highly Recommended, Download to Score A+ (TCO A) The relationship between speed of innovation and product obsolescence is direct (as innovation speed increases, products become obsolete more quickly). inverse (as innovation speed increases, products become obsolete more slowly). indirect (there is an effect, but it cannot be directly determined). nonexistent (there is no relationship at all). (TCO A) While rapid innovation often benefits society, it often makes success for companies more complicated as they strive to keep up with the latest innovations. profitable as long as they do not innovate themselves, but rather use innovations of others to their advantage. easier since innovation always makes things simpler. less likely because customers will not be willing to pay as much for goods and services. (TCO B) In the 1970s, Church & Dwight developed Arm & Hammer Baking Soda Deodorants. Within 6 months, the product was very successful and another company released Arm & Hamer Deodorant to try to capture some of the market created by Church & Dwight. Can Church & Dwight prevent the maker of Arm & Hamer from selling their product? Probably, because the other company's brand name is very similar to the trademark of Church & Dwight. No, the other company's brand is different enough to withstand any challenge. No, you cannot protect a brand name legally, only the product itself. It is impossible to say using the information provided. (TCO B) The scientists at Gerusa are former award-winning Soviet scientists who have all focused their attention on a cancer treatment. Working together, they have come up with remarkable solutions. The knowledge base they have is explicit. is easily imitable. is socially complex. has a low degree of appropriability. (TCO C) For several years, Mountain Home University had used IBM computers. Recently, Apple Computers offered them a better machine at lower a price for one of the University's labs; however Mountain Home did not buy them because the ___ costs were too high. transactional opportunity marginal switching (TCO C) Natal Technologies is developing a superior ultrasound machine for which it is required to invest $800,000. Based on the company's analysis, the product will generate $200,000 from the first year till perpetuity. According to this, the payback period is ______. 10 years 6 years 3 months 4 years (TCO C) Sheila Kessler is a retired millionaire who still likes to invest in new businesses and help other people get started in business. She would be called a(n) loan shark. angel investor. first generation mentor. venture investor. (TCO D) Schumpeter said that large firms are likely to have a more difficult time raising funds. lower returns with lower sales volumes because fixed costs of R&D are high. better-developed complementary activities that enable them to be more innovative. poorer global reach due to bureaucracy. (TCO E) An antichampion is a person who is out to sabotage a new project. one who plays the role of the devil's advocate. a person who uses subjective criteria. a person in a competing firm who sabotages market tests by promoting his company's products more heavily than normal. (TCO E) Your boss does not favor the use of cross-functional teams. How would you respond to this? The use of cross functional teams can result in products that do not satisfy customers' needs. A cross-functional interface can help better ensure a product's quality and price. Cross-functional teams usually result in products that cannot be engineered. Cross-functional teams necessitate the need for back and forth iterations between different stages in the product development process leading to longer cycle times. (TCO F) Which of the following is an advantage of making a new generation of technology backward compatible? Consumers will have to buy completely new complements. Consumer switching costs may be lower because they anticipate using their existing complements. Competitors will be unable to imitate the company's strategy of making the technology backward compatible. It is typically less expensive to make a new generation of technology backward compatible than to not make it backward compatible. (TCO F) Mallard Prosthetics was a leader in the prosthetic arm market and profits from its prosthetics were very high. When Mallard developed a computerized prosthetic that would render its previous prosthetics obsolete, it decided to withhold it from the market probably so that competitors would have time to catch up.