BSE Technology Management and Innovation 3

Question 1

What is the primary purpose of conducting a 'technology audit' in an engineering organization?

Accepted Answer

To assess the current state of technology assets, capabilities, and gaps relative to strategic needs

Answer

To verify financial compliance of technology investments

Answer

To review employee compliance with technology use policies

Answer

To audit software licenses for legal compliance

Question 2

Which framework describes the 'innovator's dilemma' where successful companies fail because they focus too much on existing customers and miss disruptive innovations?

Accepted Answer

Christensen's Innovator's Dilemma

Answer

Porter's Five Forces Framework

Answer

Moore's Crossing the Chasm

Answer

Rogers' Diffusion of Innovations

Question 3

In product development, what is the primary benefit of rapid prototyping?

Accepted Answer

To quickly create physical or digital models to test concepts, gather feedback, and reduce development risk

Answer

To produce the final product as quickly as possible for sale

Answer

To accelerate mass production by automating the manufacturing process

Answer

To reduce the number of engineers needed on a development project

Question 4

What does the term 'first-mover advantage' mean in technology management?

Accepted Answer

The competitive benefit gained by being the first to enter a new market or adopt a new technology

Answer

The benefit of being the last company to enter a mature market

Answer

The advantage of moving manufacturing operations first to lower-cost regions

Answer

The first company to receive regulatory approval for a new product

Question 5

What is the key principle behind 'agile' innovation management approaches compared to traditional sequential (waterfall) models?

Accepted Answer

Agile delivers value incrementally through iterative cycles with continuous customer feedback

Answer

Agile requires more upfront planning and documentation than waterfall

Answer

Agile eliminates the need for project managers on development teams

Answer

Agile is exclusively used for software development and cannot apply to physical engineering

Question 6

What is the role of a 'chief technology officer' (CTO) in an engineering organization?

Accepted Answer

To lead the organization's technology strategy, R&D direction, and technical vision

Answer

To manage day-to-day IT infrastructure and helpdesk operations

Answer

To oversee financial reporting for technology investments

Answer

To recruit and hire all technical staff across the organization