Match These Types of Innovation with Their Descriptions (Based on Francis

question 60

Multiple Choice

Match these types of innovation with their descriptions (based on Francis and Bessant 2005) .
-Product innovation.

• A) The way they are introduced to market
• B) Product/service offered
• C) Improvement to a part of product/service
• D) Underlying business models

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the influence of personality and underestimate the impact of situational factors on other people's behavior.

False Consensus Effect

The tendency for people to overestimate the extent to which their beliefs, opinions, preferences, values, and habits are normal and typical of those of others.

Counterfactual Thinking

The human tendency to create possible alternatives to life events that have already occurred, something akin to imagining "what might have been."

Availability Heuristic

A cognitive bias wherein individuals judge the probability of events based on how easily examples come to mind.