Many Times When an Established Company Ignores Disruptive Innovation,the Result

question 66

Multiple Choice

Many times when an established company ignores disruptive innovation,the result is

• A)The innovation goes away.
• B)The innovation is adopted by a small niche.
• C)The established company suffers loss of market share.
• D)The government supports innovation.
• E)The established company eventually creates a substitute.

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Definitions:

GDP

Gross Domestic Product, the total value of all goods and services produced within a country's borders in a specific time period, used as a broad measure of economic performance.

Absolute Advantage

The ability of a party to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.

Comparative Advantage

The capability of an entity to generate a product or service with a smaller opportunity cost compared to another entity.

Comparative Advantage

The talent of a country or business to create a certain product or service more efficiently, incurring lower opportunity costs than competing entities.