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.

Understand various pricing strategies and their ethical implications.

Recognize the role of marketing in maintaining ethical standards and the impact of its deviation.

Define social responsibility and distinguish between its different forms.

Comprehend the advantages and challenges of self-regulatory programs in enforcing marketing ethics.

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Definitions:

Monopoly

A market structure in which a single seller controls all production and sale of a particular product or service.

Sherman Act

A landmark federal statute in the field of United States antitrust law prohibiting monopolistic behaviors.

Clayton Act

A U.S. antitrust law, passed in 1914, aimed at preventing anticompetitive practices in their incipiency, including price discrimination, exclusive dealing agreements, and mergers and acquisitions that substantially lessen competition.

Per Se Violation

An action that by its very existence carries with it liability, as opposed to an action that violates a rule of reason.