Open Innovation and Closed Innovation Are Two Innovation Principles Addressed

question 25

Multiple Choice

Open innovation and closed innovation are two innovation principles addressed in the book. Which concepts and ideas are connected to open innovation? (four are correct)

• A) The smart people in our industry work for us.
• B) In order to benefit from research and development, we must discover, develop and release products on the market on our own.
• C) If we use both internal and external ideas in the best manner, we'll come out ahead.
• D) If we pave the way in research in our branch, we'll come out ahead.
• E) We will benefit when the competition uses our innovations, and will use the competition's innovations when it strengthens us.
• F) We must work with smart people both in our company and in other companies.
• G) We must control our innovation process, so that the competition is unable to benefit from our ideas.
• H)We do not have to do the research in order to benefit from the research results others have uncovered.

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Definitions:

Amortized

The gradual reduction of a debt over a period of time by making regular payments of interest and principal.

31st Payment

The payment made as the thirty-first installment in a series of payments or financial obligations.

Amortized

The process of spreading out a loan into a series of fixed payments over time, which covers both the principal and the interest.

Compounded Monthly

Interest calculation strategy where interest is added to the principal sum every month, allowing the investment to grow at a faster pace.