Refer to the Scenario Below to Answer the Following Questions

question 113

Multiple Choice

Refer to the scenario below to answer the following questions.
Innovation Variables at Lightspeed (Scenario)
Edwin Lee leads a cross-functional product development team at Lightspeed.com, a software company with employees in 10 countries around the world) The members of Edwin's team are hard-working and highly creative, but he wonders if there are ways to stimulate more innovation from the team. As the company has grown, so too has the bureaucracy. Numerous rules and policies have been introduced, and decision making has become highly centralized. This has resulted in resource limitations and tight project deadlines. Fortunately, with the use of web cams and other Internet technology, Edwin is able to hold frequent meetings with his global cross-functional team. And despite some structural limitations, the company's culture does seem to foster creative solutions. Diverse opinions are encouraged, and even the most unrealistic, ''off-the-wall'' solutions are accepted without criticism. Mistakes are treated as learning opportunities-a good thing, since there have definitely been some mistakes!
-Which cultural variable relates to the acceptance of mistakes at Lightspeed?

• A) acceptance of ambiguity
• B) tolerance of the impractical
• C) tolerance of risk
• D) tolerance of conflict
• E) open system focus

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Definitions:

Quantities

Specific amounts or numbers of items or substances.

Price-Discriminating Monopolist

A monopolist that charges different prices to different consumers or groups of consumers, often based on their willingness to pay.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, illustrating the sensitivity of demand to price changes.

Separate Markets

Distinct spaces or platforms where goods, services, or financial instruments are traded independently, often with little to no interaction or effect on each other.