Which of the Following Statements Accurately Brings Out the Difference

question 57

Multiple Choice

Which of the following statements accurately brings out the difference between closed innovation and open innovation?

• A) Firms following the open innovation model are much more likely to be prone to the not-invented-here syndrome than firms pursuing a closed innovation model.
• B) While open innovation focuses on building an effective business model to commercialize R&D, closed innovation focuses on being first to market.
• C) Firms following the open innovation model are more protective about their intellectual property than firms pursuing a closed innovation model.
• D) While open innovation means introducing new technologies to new markets, closed innovation refers to introducing new technologies to existing markets.

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Definitions:

Sample

A subset of a larger population selected for measurement or observation, intended to represent the larger group.

Standard Deviation

Standard deviation is a measure that quantifies the amount of variance or dispersion of a set of data values, indicating how much the values differ from the mean of the set.

σ

The symbol representing the standard deviation in statistics, a measure of the amount of variation or dispersion in a set of values.

Dispersion

A statistical measure that describes the spread of or variation in a set of data values.