MEM Technology & Innovation Management 3

Question 1

A 'patent thicket' in technology management refers to:

Accepted Answer

An overlapping web of patents that makes it difficult for firms to commercialize new technology without licensing many rights

Answer

Patent thickets create barriers to market entry by requiring innovators to navigate numerous overlapping IP rights held by multiple parties.

Question 2

According to the Utterback-Abernathy model, during the 'fluid phase' of an industry's evolution:

Accepted Answer

There is high product innovation with many competing designs

Answer

The fluid phase features high uncertainty, many competing product designs, and experimentation before a dominant design emerges.

Question 3

Which of the following best describes a 'platform ecosystem' in innovation management?

Accepted Answer

A core technology or standard that enables third-party complementors to build products and services around it

Answer

Platform ecosystems (e.g., iOS, Android) provide a foundation that third-party developers and complementors use to create additional value.

Question 4

A company uses a '70-20-10' innovation budget allocation. What does the '10' typically represent?

Accepted Answer

Transformational or breakthrough innovations

Answer

The 10% allocation targets transformational, high-risk bets on entirely new markets or business models with long time horizons.

Question 5

What is the primary purpose of a 'stage-gate' process in new product development?

Accepted Answer

To provide structured review points where projects are evaluated and either advanced, revised, or killed

Answer

Stage-gate (Cooper) creates decision checkpoints between phases, ensuring resources are allocated only to projects with sufficient technical and commercial merit.

MEM - Master of Engineering Management Practice Test

MEM - Master of Engineering Management Practice Test

MEM Technology & Innovation Management 3