innovation
– Define technological innovation with example.
2- Why is it important to firms?
3- What are the types of innovation? Provide example of each type.
4- Why do firms in high technology industries need to develop technology strategies?
5- Identify one recent innovation. Explain how the innovations used knowledge to apply tools, materials, processes, and techniques to come up with new solutions to problems. (250 word minimum)
6- In 1975 Saturday, Night Live did a parody on razor blades. The commercial came out shortly after the first two-bladed razor was introduced. In the parody, a new Triple Trac Razor – a razor with three blades because the consumer is gullible enough to believe what he sees on TV commercials – was introduced. In reality, the first three-blade razor was introduced in the 1990s. Currently, razors are selling with as many as five blades. Take a look at the industry and try to assess how much of the improvement is true innovation. (250 words minimum)
