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Question 1. 1. (TCO 1) List the four components that
describe the entrepreneurial innovation model. Which component is the most
critical to success? Defend your choice. (Points : 25)

Question 2. 2. (TCO 2) How is corporate venturing used as an
aid to search for innovation opportunities? Explain the relationship of the
organization’s strategic plan and vision statement to the corporate venturing
methodology. (Points : 25)

Question 3. 3. (TCO 3) Analyze the importance of overall
business advertising and government regulation (local, state, and federal) as
tools for generating new concepts. Provide an example of how advertising or
government regulation generated an innovative product or service. (Points : 25)

Question 4. 4. (TCO 4) What is product liability? How might
it impact a firm? (Points : 25)

Question 5. 5. (TCO 5) When engaged in strategic management
activities, a choice is often made between innovation leadership and innovation
followership. Compare and contrast these two activities. When might management
teams find an innovation leadership role a possible disadvantage? Describe at
least two reasons for the possible disadvantage. (Points : 25)

Question 6. 6. (TCO 6) Some product development activities
are risky and some are more conventional. Compare and contrast conventional
project management with the management of risky projects, and identify at least
five differences. Of the differences between the project types identified,
which difference would you rank as most significant and why would you rank the
difference as such? (Points : 25)

Question 7. 7. (TCO 7) When a product is launched, the
strategic plan is generally focused on success. Not all product launches
succeed, however, and failure is sometimes encountered. Should a strategic plan
have a section devoted to terminating the launch if certain criteria are met,
or should the plan contain provision for the launch to continue until the
market determines success or failure? Defend your response. (Points : 25)

Question 8. 8. (TCO 8) When developing a marketing plan, we
should consider market differentiation. What does market differentiation mean?
Explain why relative quality in conjunction with market differentiation is
important to our marketing effort. (Points : 25)

Question 9. 9. (TCO 9) Prototyping is often used to test
products and product ideas. Define prototyping and explain the benefits
obtained from prototyping. What limits the number of iterations associated with
a prototyping test? How would you use a prototype model in an operation for
which you were responsible? (Points : 25)

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Title: devry-sbe420-final-exam-2015

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