Netw583 Midterm

2261 Words Feb 7th, 2016 10 Pages
1. | Question : | (TCO A) Which of the following is most clearly an example of process innovation? | | | Student Answer: | | a pizza chain is able to develop a method of baking pizza that enables pizzas to be baked in 10 minutes rather than the standard 20 minutes during the late 1980s | | | | a potato chip company introduces a line of its potato chips with a new type of seasoning. | | | | a major motion picture studio releases a new 3D movie. | | | | a tire manufacturer develops a tire that re-inflates itself instantly when it is punctured | | Instructor Explanation: | Chapter 3 | | | | Points Received: | 4 of 4 | | Comments: | | | |

Question 2. | Question : | (TCO A) Which of the following
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1. Computer-aided design and computer-aided manufacturing have made it easier and faster for firms to design and produce new products, while flexible manufacturing technologies have made shorter production runs economical and have reduced the importance of production economies of scale. 2. These technologies help firms develop and produce more product variants that closely meet the needs of narrowly defined customer groups, thus achieving differentiation from competitors. | | Instructor Explanation: | As markets become more global, increased competition from foreign competitors puts pressure on firms to innovate. Domestic companies may need to come up with more efficient means of production, and will also tend to compete through innovation to differentiate their goods and services. As communication increases through the internet and global media, consumers will have more choices in making purchase decisions. Competition will become fiercer and companies will need to find a competitive advantage through innovative processes and products.

| | | | Points Received: | 30 of 30 | | Comments: | | | |

Question 2. | Question : | (TCO A) At a retreat by the Salisbury City Council, community leaders held a discussion on attracting and developing new businesses and increasing employment rates in the city. One leader suggested that the city consider sponsoring a business incubator. Explain what an incubator is and how this might help the city

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