MTP Exam 2 Study Guide CH 7-12 exam with complete solutions.

Technology Cycle A cycle that begins with the birth of a new technology and ends when that technology reaches its limits and is replaced by a newer, substantially better technology. Innovation Streams Patterns of innovation overtime that can create sustainable competitive advantage Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More S-Curve Pattern of Innovation A pattern of technological innovation characterized by slow initial progress, then rapid progress, and then slow progress again as a technology matures and reaches its limits INTEL is an example of this pattern of Innovation. Technological Substitution The purchase of new technologies to replace older ones. "Smartphones have replaced these older technologies: landlines, pay phones, walkie-talkies, timers and alarm clocks, photo albums, GPS and maps, address books, calendars, newspapers and magazines." Creative Work Environments A culture that workers perceive creative thoughts and ideas are welcomed. Experiential approach to Innovation An approach to innovation that assumes a highly uncertain environment and uses intuition, flexible options, and hands-on experience to reduce uncertainty and accelerate learning and understanding. Has 5 Aspects: Design Iteration: Cycle of repetition in which a company tests a prototype of a new product or service, improves on that design, and then builds and tests the improved prototype. Product Prototype: Full-scale, working model that is being tested for design, function, and reliability. Testing: Systematic comparison of different product designs or design iterations. Milestones: Formal project review points used to assess progress and performance. (A 12-month schedule has milestones at 3, 6, and 9 month points on the schedule to see how everyone and everything is progressing.) Multifunctional Teams: Work teams composed of people from different departments. Compressions approach to innovation Assumes that innovation is a predictable process, that incremental innovation can be planned using a series of steps, and that compressing the time it takes to complete those steps can speed up innovation. Has 5 Aspects: Planning: Squeeze or compress development time as much as possible, and the gen