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 the primary purpose of conducting a 'technology audit' in an engineering organization?
Answer: To assess the current state of technology assets, capabilities, and gaps relative to strategic needs
A technology audit systematically evaluates an organization's existing technologies and capabilities to identify strengths, weaknesses, and gaps that inform strategic technology investment decisions.
Which framework describes the 'innovator's dilemma' where successful companies fail because they focus too much on existing customers and miss disruptive innovations?
Answer: Christensen's Innovator's Dilemma
Clayton Christensen's Innovator's Dilemma explains how well-managed companies fail by over-serving mainstream customers and dismissing disruptive technologies that initially serve fringe markets.
In product development, what is the primary benefit of rapid prototyping?
Answer: To quickly create physical or digital models to test concepts, gather feedback, and reduce development risk
Rapid prototyping enables teams to quickly build and test physical or digital representations of a design to validate concepts, identify flaws, and incorporate user feedback before full investment.
What does the term 'first-mover advantage' mean in technology management?
Answer: The competitive benefit gained by being the first to enter a new market or adopt a new technology
First-mover advantage refers to the competitive benefits — brand recognition, customer loyalty, and technology leadership — that early market entrants can establish before competitors arrive.
What is the key principle behind 'agile' innovation management approaches compared to traditional sequential (waterfall) models?
Answer: Agile delivers value incrementally through iterative cycles with continuous customer feedback
Agile approaches break development into short iterations (sprints), delivering working increments frequently and incorporating ongoing user feedback to adapt to changing requirements.
What is the role of a 'chief technology officer' (CTO) in an engineering organization?
Answer: To lead the organization's technology strategy, R&D direction, and technical vision
The CTO is responsible for the organization's technological direction, overseeing R&D, identifying emerging technologies, and aligning technology strategy with business objectives.