In an Attempt to Eliminate Spectacles from the Market, Lensamt

question 107

Multiple Choice

In an attempt to eliminate spectacles from the market, Lensamt, a company that manufactures and supplies contact lenses, launched an advertising campaign to popularize its products. To counter this and stay in the market, the spectacle manufacturers introduced new offers and discounts on spectacles. In the context of innovation streams, which of the following concepts does this scenario best illustrate?

• A) Design competition
• B) Technological lockout
• C) Technological substitution
• D) Design iteration

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Definitions:

Current Service Levels

The existing extent and quality of services provided by an organization or team, prior to any improvements or changes.

Outsourcing Contract

A legal document that outlines the terms and conditions under which a company contracts out parts of its business processes or services to a third-party provider.

Managing Outsourcing

The process of overseeing and coordinating contracts with external organizations to perform certain business functions or tasks.

Cost-Benefit Analysis

The relationship between the costs of a program and its benefits.