BSE Technology Management and Innovation 2

Question 1

What is Stage-Gate (Phase-Gate) process used for in technology and product development?

Accepted Answer

A structured process with review gates between development phases to control project advancement

Answer

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.

Question 2

In open innovation, what is the key difference compared to traditional closed innovation?

Accepted Answer

Open innovation leverages external knowledge, partnerships, and ideas alongside internal R&D

Answer

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.

Question 3

What is a 'make vs. buy' decision in technology management?

Accepted Answer

Deciding whether to develop a technology internally or acquire it from an external source

Answer

The make vs. buy decision evaluates whether a company should develop a technology capability internally or source it externally through purchase, licensing, or partnership.

Question 4

Which concept describes the tendency for a dominant technology design to emerge from competition among competing designs and become the industry standard?

Accepted Answer

Dominant Design

Answer

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.

Question 5

What is 'design thinking' in the context of innovation management?

Accepted Answer

A human-centered problem-solving approach that emphasizes empathy, ideation, and prototyping

Answer

Design thinking is a creative problem-solving methodology that starts with deep empathy for users, generates diverse ideas, and rapidly prototypes and tests solutions.

BSE - Mgt Bachelor of Science in Engineering Management Practice Test

BSE - Mgt Bachelor of Science in Engineering Management Practice Test

BSE Technology Management and Innovation 2