Discuss how Netflix has disrupted the TV industry correct answers Netflix disrupted the TV industry by changing the delivery of content to online streaming, allowing on-demand access, and developing programming based on algorithms
invention correct answers The transformation of an idea into a pr...
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Discuss how Netflix has disrupted the TV industry correct answers Netflix disrupted the TV
industry by changing the delivery of content to online streaming, allowing on-demand access,
and developing programming based on algorithms
invention correct answers The transformation of an idea into a product or process
innovation correct answers Commercialization of an invention by entrepreneurs
Provide two different reasons for why innovation diffuses correct answers Innovation diffuses
through the demand side through adoption and through the supply side through imitation
Provide four different stakeholders who may appropriate value from an innovation correct
answers 1. Suppliers
2. customers
3. Followers
4. Innovators
The profitability of an innovation depends upon (1) the value of the innovation, and (2) the
innovator's ability to appropriate the value of the innovation. Provide four factors that influence
this appropriation ability, which influence the profitability of innovation correct answers 1. Legal
Protection
2. Complementary resources
3. Imitability of the tech
4. Lead time
There is no simple answer on whether it is better to be a leader or a follower when innovating.
Provide an example in which the leader was successful and an example in which the follower
was successful. correct answers Leader: In the instant camera industry polaroid (leader) was so
successful that it became synonymous with picture
Follower: In the office PC industry, IBM (follower) was the more successful company
Provide two key sources of uncertainty in technology-based industries correct answers 1.
technological Uncertainty
2. market Uncertainty
provide three strategies for managing risk in technology-based industries, correct answers 1.
Cooperating with lead users
2. limiting risk exposure
3. flexibility
Explain why VHS tapes (with an arguably inferior technology) won against Beta tapes (with an
arguably superior technology correct answers VHS was more widely usable making it easier to
gain market acceptance
, Explain why the QWERTY configuration of the keyboard is inferior. Then, explain the
economic principle of why this inferior keyboard configuration persists up until now correct
answers QWERTY configuration for the keyboard was designed to slow typing down to avoid
jamming keys with typewriters. People were so used to it that it could not be changed.
Discuss standards battles and alternative technologies in the automobile industry. correct answers
The range for electric cars is to low causing range anxiety. There is little recharging
infrastructure especially in rural parts of america. Unlikely for electric cars to take off until there
is longer ranges, faster recharge times, and more recharging infrastructure.
What are the five phases of an industry life cycle? correct answers 1. Introduction
2. Growth
3. Shakeout
4. Maturity
5. Decline
Discuss the Apple iPhone example concerning network effects correct answers iMessage makes
the iphone more valuable. Having more apps makes the iphone more valuable.
Describe the concept of "crossing the chasm" and its application to the mobile phone industry
correct answers The chasm is the gap between the early adoption stage into the early majority.
Treo failed to cross the chasm wheras blackberry, galaxy, and iPhone succeeded.
Architectural Innovation correct answers Leverages existing technology into new markets
Alters the architecture of a product
A new product, with known components, used in a novel way
An example is xerography
incremental innovation correct answers Results from steady improvement.
Targets existing markets with existing technology
Example: Gillette blades from one to six
Radical innovation correct answers Draws on novel methods & materials
Forms from an entirely new knowledge base, recombination of existing knowledge
Targets new markets with new technology
X-ray technology
Disruptive innovation correct answers leverages new technology in existing markets
laptops
Explain why our Nucor case is an example of a disruptive technology correct answers This is an
example of disruptive technology because there is a new technology, minimills, being leveraged
in the already existing steel market
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