Technology Management and Innovation Flashcards
6 cards from real BSE practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Technology Management and Innovation flashcards as text
What is Stage-Gate (Phase-Gate) process used for in technology and product development?
Answer: A structured process with review gates between development phases to control project advancement
The Stage-Gate process divides product development into stages separated by gates where cross-functional teams evaluate progress and decide to continue, redirect, or kill the project.
In open innovation, what is the key difference compared to traditional closed innovation?
Answer: Open innovation leverages external knowledge, partnerships, and ideas alongside internal R&D
Open innovation, popularized by Henry Chesbrough, uses external sources such as universities, startups, and customers as inputs to the innovation process alongside internal R&D.
What is a 'make vs. buy' decision in technology management?
Answer: Deciding whether to develop a technology internally or acquire it from an external source
The make vs. buy decision evaluates whether a company should develop a technology capability internally or source it externally through purchase, licensing, or partnership.
Which concept describes the tendency for a dominant technology design to emerge from competition among competing designs and become the industry standard?
Answer: Dominant Design
Dominant design theory, developed by Abernathy and Utterback, describes how a single design eventually emerges as the industry standard, shifting competition from product to process innovation.
What is 'design thinking' in the context of innovation management?
Answer: A human-centered problem-solving approach that emphasizes empathy, ideation, and prototyping
Design thinking is a creative problem-solving methodology that starts with deep empathy for users, generates diverse ideas, and rapidly prototypes and tests solutions.
In the context of engineering organizations, what is 'technology transfer'?
Answer: The process of moving technology knowledge from where it is developed to where it will be used or commercialized
Technology transfer involves the systematic sharing of knowledge, skills, and technologies from research institutions or developers to commercial users, enabling broader application and economic benefit.