Management of Technology and Innovation MCQs

What is the primary goal of managing technology and innovation? a) Minimizing technological advancements b) Maximizing employee turnover c) Enhancing organizational competitiveness and growth d) Ignoring market trends Answer: c) Enhancing organizational competitiveness and growth Which of the following is a key function of managing technology and innovation? a) Decreasing product quality b) Ignoring customer feedback c) Fostering a culture of creativity and experimentation d) Maximizing employee dissatisfaction Answer: c) Fostering a culture of creativity and experimentation What role does research and development (R&D) play in managing technology and innovation? a) Minimizing investment in new technologies b) Maximizing employee turnover c) Driving product and process innovation d) Discouraging market research Answer: c) Driving product and process innovation Which innovation strategy involves incremental improvements to existing products or processes? a) Radical innovation b) Disruptive innovation c) Sustaining innovation d) Open innovation Answer: c) Sustaining innovation What is the purpose of technology roadmapping in managing technology and innovation? a) To decrease uncertainty in technological advancements b) To estimate future market demand c) To align technology development with business goals d) To ignore market trends Answer: c) To align technology development with business goals How does intellectual property management contribute to managing technology and innovation? a) By discouraging innovation and creativity b) By maximizing employee dissatisfaction c) By protecting and monetizing intellectual assets d) By minimizing investment in research and development Answer: c) By protecting and monetizing intellectual assets What does the term “technology transfer” refer to in managing technology and innovation? a) The process of transferring technology from one organization to another b) The process of downsizing technological capabilities c) The process of minimizing market competition d) The process of avoiding technological advancements Answer: a) The process of transferring technology from one organization to another What is the role of innovation metrics in managing technology and innovation? a) To discourage creativity and experimentation b) To minimize investment in new technologies c) To measure and evaluate innovation performance d) To ignore market trends Answer: c) To measure and evaluate innovation performance Which innovation strategy involves developing new products or services that disrupt existing markets? a) Incremental innovation b) Sustaining innovation c) Disruptive innovation d) Closed innovation Answer: c) Disruptive innovation What is the significance of open innovation in managing technology and innovation? a) To discourage collaboration and knowledge sharing b) To minimize market competition c) To leverage external ideas and resources for innovation d) To maximize employee turnover Answer: c) To leverage external ideas and resources for innovation What is the purpose of technology scouting in managing technology and innovation? a) To maximize investment in obsolete technologies b) To identify emerging technologies and trends c) To minimize collaboration with external partners d) To discourage market research Answer: b) To identify emerging technologies and trends How does managing technology and innovation impact organizational agility? a) By maximizing resistance to change b) By minimizing employee satisfaction c) By fostering adaptability and responsiveness to market shifts d) By discouraging creativity and experimentation Answer: c) By fostering adaptability and responsiveness to market shifts What is the role of technology portfolio management in managing technology and innovation? a) To minimize investment in new technologies b) To ignore market trends c) To strategically allocate resources across a range of technology initiatives d) To discourage collaboration with external partners Answer: c) To strategically allocate resources across a range of technology initiatives How does managing technology and innovation impact organizational culture? a) By maximizing resistance to change b) By fostering a culture of creativity, experimentation, and risk-taking c) By minimizing collaboration with external partners d) By discouraging market research Answer: b) By fostering a culture of creativity, experimentation, and risk-taking What is the role of technology standards in managing technology and innovation? a) To minimize interoperability and compatibility b) To maximize fragmentation and inefficiency c) To facilitate interoperability and compatibility across different systems and platforms d) To discourage collaboration with external partners Answer: c) To facilitate interoperability and compatibility across different systems and platforms What is the purpose of technology forecasting in managing technology and innovation? a) To minimize investment in new technologies b) To increase uncertainty in technological advancements c) To anticipate future technology trends and developments d) To ignore market trends Answer: c) To anticipate future technology trends and developments How does managing technology and innovation impact competitive advantage? a) By maximizing resistance to change b) By fostering differentiation and market leadership c) By minimizing collaboration with external partners d) By discouraging market research Answer: b) By fostering differentiation and market leadership What role does technology commercialization play in managing technology and innovation? a) To minimize collaboration with external partners b) To maximize investment in obsolete technologies c) To bring innovative technologies to market and generate revenue d) To discourage market research Answer: c) To bring innovative technologies to market and generate revenue What is the purpose of technology audit in managing technology and innovation? a) To minimize investment in new technologies b) To increase uncertainty in technological advancements c) To assess and evaluate an organization’s technology assets and capabilities d) To ignore market trends Answer: c) To assess and evaluate an organization’s technology assets and capabilities How does managing technology and innovation impact risk management? a) By maximizing resistance to change b) By fostering risk-awareness and mitigation strategies c) By minimizing employee satisfaction d) By discouraging collaboration with external partners Answer: b) By fostering risk-awareness and mitigation strategies What is the role of technology partnerships in managing technology and innovation? a) To minimize collaboration with external partners b) To foster collaboration and access to complementary resources and expertise c) To maximize investment in obsolete technologies d) To ignore market trends Answer: b) To foster collaboration and access to complementary resources and expertise What is the purpose of innovation ecosystems in managing technology and innovation? a) To maximize investment in obsolete technologies b) To facilitate collaboration among various stakeholders, including startups, academia, and government agencies c) To minimize collaboration with external partners d) To ignore market trends Answer: b) To facilitate collaboration among various stakeholders, including startups, academia, and government agencies How does managing technology and innovation impact organizational resilience? a) By maximizing resistance to change b) By fostering adaptability and the ability to respond to disruptive forces c) By minimizing employee satisfaction d) By discouraging creativity and experimentation Answer: b) By fostering adaptability and the ability to respond to disruptive forces What is the role of technology governance in managing technology and innovation? a) To minimize investment in new technologies b) To establish policies, processes, and controls for technology-related decisions c) To maximize resistance to change d) To ignore market trends Answer: b) To establish policies, processes, and controls for technology-related decisions What is the significance of user-centric design in managing technology and innovation? a) To minimize investment in new technologies b) To foster innovation that meets the needs and preferences of end-users c) To maximize resistance to change d) To ignore market trends Answer: b) To foster innovation that meets the needs and preferences of end-users How does managing technology and innovation impact product development cycles? a) By minimizing investment in new technologies b) By accelerating the pace of product innovation and time-to-market c) By maximizing resistance to change d) By discouraging creativity and experimentation Answer: b) By accelerating the pace of product innovation and time-to-market What is the role of technology foresight in managing technology and innovation? a) To minimize investment in new technologies b) To anticipate and prepare for future technological developments and trends c) To maximize resistance to change d) To ignore market trends Answer: b) To anticipate and prepare for future technological developments and trends What is the purpose of technology assessment in managing technology and innovation? a) To minimize investment in new technologies b) To evaluate the feasibility, risks, and potential impacts of adopting new technologies c) To maximize resistance to change d) To ignore market trends Answer: b) To evaluate the feasibility, risks, and potential impacts of adopting new technologies How does managing technology and innovation impact organizational culture? a) By maximizing resistance to change b) By fostering a culture of experimentation, learning, and adaptability c) By minimizing collaboration with external partners d) By discouraging creativity and risk-taking Answer: b) By fostering a culture of experimentation, learning, and adaptability What is the role of technology intelligence in managing technology and innovation? a) To minimize investment in new technologies b) To gather, analyze, and disseminate information about emerging technologies and competitors c) To maximize resistance to change d) To ignore market trends Answer: b) To gather, analyze, and disseminate information about emerging technologies and competitors