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Know About Technologies Flashcards Flashcards by ProProfs

source : proprofs.com

Know About Technologies Flashcards Flashcards by ProProfs

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41. If a
new technology is theoretically possible but has no economic practicality, the
technology will probably not emerge. True False

TRUE
As a force
that drives technological development, a company must be able to convert
scientific knowledge into practice in engineering and economic terms.

42. The
product life cycle is a predictable pattern followed by a technological
innovation, from its inception and development to market saturation and replacement. True False

43. Innovators
are adventurous and willing to take risks. True False

44. Being
the first to develop or adopt a new technology always leads to immediate
advantage and high profits. True False

FALSE
While such
potential may exist, technology leadership does impose high costs and risks
that followers do not have to bear. Being the leader thus can be more costly
than being the follower.

45. The
appropriate time for an organization to adopt technological innovations is when
the costs and risks of switching to the technology are outweighed by the
benefits. True False

TRUE
This point
will be different for each organization, with some organizations benefiting
from a leadership, early adopter role, and others from a followership role,
depending on each organization’s characteristics and strategies.

46. Emerging
technologies are those that have proven effective, but they also provide a strategic
advantage because not everyone uses them. True False

FALSE
Emerging
technologies are still under development and thus are unproved.

47. Base
technologies provide a competitive advantage. True False

48. The
exploding growth in piracy or fakery of patented pharmaceuticals, software, and
other products has added new barriers to economic viability. True False

TRUE
Globalization
has created a worldwide market for goods produced by low-cost counterfeiters
and pirates overseas, which have the added advantage that they do not have to
incur research and development expense, causing a barrier to economic viability
for the ‘real’ manufacturers.

49. Companies
who are seen as proactive “technology-push” innovators tend to have
cultures that are more outward-looking and opportunistic. True False

50. Early
adopters of new technologies tend to be more profitable. True False

TRUE
Early adopter
firms tend to be larger, more profitable, and more specialized. Thus they are
in an economic position to absorb the risks associated with early adoption while
profiting more from its advantages.

51. A CTO
is the executive in charge of training strategy and development. True False

52. Key
roles in acquiring and developing new technologies are the technical innovator,
product developer and executive champion. True False

53. Bureaucracy
is the best friend of innovation. True False

FALSE
Bureaucracy is
an enemy of innovation. Its main purpose is maintaining orderliness and
efficiency, not pushing the creative envelope.

54. The
forces that drive technological development include A. resource
availability and product innovation.B. entrepreneurial
initiative and the capability to convert practice into knowledge.C. a
need or demand and product innovation.D. resource
availability and a need or demand.E. the
capability to convert practice into knowledge and economic practicality.

D. resource
availability and a need or demand.Resource
availability, a need or demand, entrepreneurial initiative and the ability to
convert knowledge into practice are all forces that drive technological
development.

55. Which
group of adopters of a new technology is critical to the technology’s
success? A. Early
adoptersB. Late
majorityC. InnovatorsD. Early
majorityE. Laggards

A. Early
adopters

This group is
critical to the success of a new technology, because its members include
well-respected opinion leaders.

Adoption of alternative fuel vehicle fleets - A

Adoption of alternative fuel vehicle fleets – A – Early adopter firms tend to be more favourable towards new technologies (Kaplan et al., 2016), and public fleets are in essence brought together in order to comply with regulations, as government agencies are expected to be seen as leaders in fostering governments' environmental policies and spearhead the creation of the AFV market. Earlythe classical model of the diffusion of a new technology (Gr i l i c h e s [1957]) emphasizes adopters' incentives. the greater an advance the latest technology is compared to earlier alternatives, the more rapidly it will tend to diffuse. Yet adopt-ers of many new technologies wait rather than adopt immediately.1 they are heldHowever, the risk impact for late majority firms and laggards may be much higher (see figure 4). Figure 4. Risk exposure (for firms that act late) The risk impact and vulnerability for late majority firms and laggards may be much higher as compared to early adopters of alternative data.

PDF Choice: Browsers1 – Disruptive Technologies & the Innovator's Dilemma it was introduced and paid a high price to be among the first to have this new product. Early adopters – Young and restless; early adoptersLike many emerging technologies, data analysis is just beginning to have a significant impact on the practice of law. With the right tools and an appreciation of the future potential, early adopters can gain an edge on competitors and make an impact on clients.The early majority, on the other hand, is likely to be targeted through more general marketing approaches and it is hoped that their connection with the early adopters will drive word-of-mouth sales. Designers may end up catering to the early majority through product iteration and offering improvements to the product.

PDF  Choice: Browsers1

PDF InFocus – Deloitte – Of the adopters of new technologies,the members of early majority: A) are deliberate and take longer to decide to use something new. B) include organizations to which others look for leadership. C) tend to be isolated and highly conservative. D) are critical to the success of a new technology.Firms may also cluster together in close proximity during the early stages of the industry life cycle to have access to key materials or technological expertise, as in the case of the U.S. SiliconIf the defender and analyzer firms are compared with the early adopters of new technology, the early adopters tends to be more specialized and profitable. In addition, early adopters of new technology are critical to the technologies success because of their expertise.

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