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Principles of Management

Chapter Review Questions

Principles of ManagementChapter Review Questions

Chapter Review Questions

  1. How do we define technology and innovation, and how are they related?
  2. What are the four areas that need to be managed by the firm if it is going to take advantage of the technology it has and the technology it needs to create?
  3. What are the five Cs of managing innovation, and how do they help direct a firm’s innovation activities?
  4. How does an organization enhance its agility? When is more agility needed in the firm?
  5. Compare and contrast the advantages and disadvantages of the three approaches for technology and innovation development.
  6. What circumstances indicate a firm should consider an external process for developing/acquiring technology?
  7. How does a firm determine the type of external process for developing/acquiring technology it should pursue?
  8. What are the benefits of using internal sources for developing new technologies, products, and/or processes? What are the potential disadvantages?
  9. How does an entrepreneurial firm identify and utilize a value proposition?
  10. How does knowledge management impact the management of technology and innovation?
  11. Followship is critical to MTI—how does the quality of followship in the organization impact the ability of leadership to create value?
  12. How does the management of technology and innovation help a firm create value? Why should the firm strive to have a unique value proposition?
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