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Summary of chapter 01-26 (Lecture 1 - 7) AND Exam answers 2023
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A summary of the lectures CEN1 lectures, PowerPoint, EXAM, and book. (Minor ISBD, IBS)
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Included in CEN1 IBS exam 2023.Giving by Drs. Eric A. Voerman
Make sure to explain your answers, if you can argue why your answer is correct you’ll probably
get the points. If you also argue why it is not another option he’d probably still give you points.
- 2EC Written exam, 10 open questions.
A monopoly is a situation in which a single company or entity has exclusive control over the
supply of a particular product or service in a market. This gives the monopolist significant
power to control the price, quality, and availability of the product or service. Monopolies are
generally seen as detrimental to competition and innovation and are often subject to antitrust
regulation to prevent abuses of market power.
Distribu.ve (distribu.on) innova.on refers to the introducAon of a new product or service that
enables greater access or affordability to a previously exclusive or expensive good. Here are
some examples of distribuAve innovaAon:
1. Mobile banking apps - Mobile banking apps have enabled people who were previously
unbanked or underbanked to access financial services and manage their money more
easily.
2. Solar power - The availability of solar panels and solar power systems has enabled
individuals and communities to generate their own electricity, reducing their reliance on
traditional power sources and reducing their energy costs.
3. 3D printing - The development of 3D printing technology has made it possible for
individuals and small businesses to produce complex products and parts that were
previously only accessible to large manufacturing companies.
4. Hydrogen in the future?
Henry Ford invented the moving assembly line this has influence everywhere, for example how
phones or shipping are made possible at a cheap price.
• ONo Benz is the person who invented the car. NOT Henry Ford
The post it example is the example of the company Industrial glue that made sAcky notes for
fun, and that markeAng saw a possibility in the product and now they make millions a year
The shampoo example is an example of a shampoo company making the hole of the shampoo
boNle 10% larger and therefore earning 10% more profit every year. Bigger hole, bigger profit.
The toyota improvement example is an example of Toyota giving the employee who comes up
with an improvement for the company 10% of what that improvement saved.
• This way people stayed sharp on what to improve within the company/assembly line
©Dion Gerbers 1
, Technology-driven innova.on refers to the process of using technological advancements to
create new products, services, or processes that improve efficiency, producAvity, and value for
consumers. It involves using technology as a primary driver for innovaAon
• Examples are self-driving cars, Ai, 3D prinAng, or blockchain technology.
Ai stands for ar.ficial intelligence, AI technologies are designed to learn from and adapt to their
environment, improving their performance over Ame.
Checklist thinking refers to the pracAce of relying on a predetermined list of i steps to guide
decision-making and problem-solving. It involves breaking down complex tasks into a series of
smaller steps that can be checked off as they are completed. It helps to not forget things.
Benchmarking is a process of comparing the performance, pracAces, or outcomes of a
parAcular process, product, or service against a standard or best pracAce. It is used to idenAfy
areas of improvement and increase efficiency, effecAveness, and compeAAveness.
Here are some examples of benchmarking in different contexts:
1. Business: Benchmarking is commonly used in business to compare a company's
performance against its compeAtors or industry standards.
• For example, a company may benchmark its sales, markeAng, customer service,
or producAon processes against similar companies to idenAfy areas of
improvement and gain a compeAAve advantage.
2. Education: In education, benchmarking involves comparing student performance against
a set of standards or benchmarks.
• For example, a teacher may use benchmark assessments to track student
progress and identify areas where additional support may be needed.
3. Finance: Benchmarking is used in the finance industry to compare the performance of
different investment portfolios or funds.
• For example, an investment firm may benchmark its portfolio returns against a
stock market index to determine the performance
4. Healthcare: Benchmarking is used in healthcare to compare the quality and efficiency of
care provided by different hospitals, clinics, or healthcare providers.
• For example, a hospital may benchmark its patient outcomes, such as mortality
rates against national or regional standards to identify areas for improvement.
Corporate entrepreneurship refers to the process of creaAng new business ventures or
developing new products, services, or processes within an established company. It involves the
applicaAon of entrepreneurial principles and pracAces to a larger, more established
organizaAon.
• It involves a willingness to take risks, explore new opportuniAes, and challenge the
status quo within the organizaAon.
• For example, internal startups, corporate venturing, and innovaAon iniAaAves
©Dion Gerbers 2
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