Modified True or False. Write True if the statement is correct. If the statement is incorrect, write False, then give the correct answer. 1. Open innovation is complicated but essential framework for future innovation and for managing, even possibly guiding, disruption in an industry.
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- Which of the following statements is INCORRECT? a. Strategy innovation is a process of applying innovative thinking to the entire business model of a company, not just to its products or inventions. b. Innovation is just about opening up new markets. c. Strategy innovation is shifting a corporation’s business strategy in order to create new value for both the customer and the corporation. d. Strategy innovation involves changing the rules of how customers receive value and having a business model that delivers that value better than the competition. Which of the following statements are correct? I. In order for intellectual property to be properly managed and used to create a competitive advantage, top level management must be involved. II. The use of patents to enjoy a short-term technological lead is the best-known way to create competitive advantage with IP rights. III. Patents do not expire after application. IV. IPRs help to protect brand names. a.…Directions: Read each statement carefully. In a separate sheet of paper, write TRUE if the statement is correct and FALSE if the statement does not fit the description 1. CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention 2. Customer database information is also used in customer segmentation and profiling 3. An intimate knowledge and understanding of customer needs and wants can lead to ineffective customer service that can result in long-term customer loyalty. 4. Acquiring and keeping customers is the end goal of businesses because customers create demand. 5. Maintaining high levels of customer service quality may be simple due to variability of services. 6. Customer's lifetime value involves activities designed to enhance customer satisfaction, or the perception that a product has met or exceeded expectations. 7. Customer Relationship Management can take on many forms-salesperson assistance, product delivery, technical…An executive summary of a proposed business is reproduced below. Evaluate the executive summary using based on: COMPLETENESS OF INFORMATION (refer to slide 4 WK2 ppt), RELEVANCE OF BUSINESS/PRODUCT IDEA, PROFITABILITY, AND SUSTAINABILITY. Justify your evaluations. Business opportunity "More than half of all Smartphone users in Germany (56%) want app functionality for insurances, one in five is enthusiastic about the idea." As evident from a recent survey." Insurance companies are still inefficient in their use of digital capacity and are not yet ready for the digital age. According to the X trend study, mobile sales channels and modern, social communication channels will dramatically gain importance, by 2020. However, most insurance companies have undertaken no endeavors to prepare for this trend. RiskEraser offers a solution for insurance companies, to retain their customers in the insurance world 2.0. Customer behavior has changed extremely in the past few years and customers…
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- Write an article summary in memo format to Sandra Ellington that addresses two articles on future technology trends. Include an introduction, such as “As you requested, I am submitting two article summaries. . . .“ Identify the author, article title, journal or website name, and date of publication for each article. Explain the purpose of each article and summarize three or four of its most important findings. Include an appropriate subject line and add meaningful headings. Your boss would also like a concluding statement indicating your overall reaction to the articles.3.What is the primary difference between the direct and the indirect strategies? (L.O. 2) When would you be more inclined to use the direct strategy in delivering bad news? (L.O. 2) What is a buffer? Name five or more techniques to buffer the opening of a bad-news message. (L.O. 3) Why should you apologize to customers if you or your company erred? What is the best way to do it? (L.O. 3) 3.33) Which of the following is a potential disadvantage for companies described as prospectors? a) Focusing on Product offering b) Being responsive to change in the environment, c) Being less formalized in its organizational processes d) Inefficient use of resources
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