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Know About Technologies Flashcards Flashcards by ProProfs

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Know About Technologies Flashcards Flashcards by ProProfs



41. If a
new technology is theoretically possible but has no economic practicality, the
technology will probably not emerge. True False

As a force
that drives technological development, a company must be able to convert
scientific knowledge into practice in engineering and economic terms.

42. The
product life cycle is a predictable pattern followed by a technological
innovation, from its inception and development to market saturation and replacement. True False

43. Innovators
are adventurous and willing to take risks. True False

44. Being
the first to develop or adopt a new technology always leads to immediate
advantage and high profits. True False

While such
potential may exist, technology leadership does impose high costs and risks
that followers do not have to bear. Being the leader thus can be more costly
than being the follower.

45. The
appropriate time for an organization to adopt technological innovations is when
the costs and risks of switching to the technology are outweighed by the
benefits. True False

This point
will be different for each organization, with some organizations benefiting
from a leadership, early adopter role, and others from a followership role,
depending on each organization’s characteristics and strategies.

46. Emerging
technologies are those that have proven effective, but they also provide a strategic
advantage because not everyone uses them. True False

technologies are still under development and thus are unproved.

47. Base
technologies provide a competitive advantage. True False

48. The
exploding growth in piracy or fakery of patented pharmaceuticals, software, and
other products has added new barriers to economic viability. True False

has created a worldwide market for goods produced by low-cost counterfeiters
and pirates overseas, which have the added advantage that they do not have to
incur research and development expense, causing a barrier to economic viability
for the ‘real’ manufacturers.

49. Companies
who are seen as proactive “technology-push” innovators tend to have
cultures that are more outward-looking and opportunistic. True False

50. Early
adopters of new technologies tend to be more profitable. True False

Early adopter
firms tend to be larger, more profitable, and more specialized. Thus they are
in an economic position to absorb the risks associated with early adoption while
profiting more from its advantages.

51. A CTO
is the executive in charge of training strategy and development. True False

52. Key
roles in acquiring and developing new technologies are the technical innovator,
product developer and executive champion. True False

53. Bureaucracy
is the best friend of innovation. True False

Bureaucracy is
an enemy of innovation. Its main purpose is maintaining orderliness and
efficiency, not pushing the creative envelope.

54. The
forces that drive technological development include A. resource
availability and product innovation.B. entrepreneurial
initiative and the capability to convert practice into knowledge.C. a
need or demand and product innovation.D. resource
availability and a need or demand.E. the
capability to convert practice into knowledge and economic practicality.

D. resource
availability and a need or demand.Resource
availability, a need or demand, entrepreneurial initiative and the ability to
convert knowledge into practice are all forces that drive technological

55. Which
group of adopters of a new technology is critical to the technology’s
success? A. Early
adoptersB. Late
majorityC. InnovatorsD. Early
majorityE. Laggards

A. Early

This group is
critical to the success of a new technology, because its members include
well-respected opinion leaders.

PDF  Technology Readiness and Segmentation Profile of Mature

PDF Technology Readiness and Segmentation Profile of Mature – likely to be early adopters of new technologies and belong to either the Explorers or Pioneers' segments (Parasuraman & Colby, 2001, p.60). The Explorers are highly motivated and confident in their ability to make technology work. They are younger, generally male, have a higher income, and are better educated than members of other segments.We set out recently to investigate what drives, and holds back, the diffusion of technology-enabled business practices, using a mix of academic literature, studies from multinational organizations such as the Organisation for Economic Co-operation and Development (OECD) and the World Economic Forum, and in-depth interviews with business leaders and other experts.A confluence of developments is driving this new wave of AI development. Computer power is growing, algorithms and AI models are becoming more sophisticated, and, perhaps most important of all, the world is generating once-unimaginable volumes of the fuel that powers AI—data.Billions of gigabytes every day, collected by networked devices ranging from web browsers to turbine sensors.

Accelerating the diffusion of technology-enabled business – Or one could evaluate the effects on non-adopting firms in a given region arising from the adoption of the new technologies by other firms in the same region. 40 At the level of countries, questions are posed for the impact on exports and imports by non-adopters due to adoption in other countries. At each of these levels – national, regionalThe early majority, on the other hand, is likely to be targeted through more general marketing approaches and it is hoped that their connection with the early adopters will drive word-of-mouth sales. Designers may end up catering to the early majority through product iteration and offering improvements to the product.the classical model of the diffusion of a new technology (Gr i l i c h e s [1957]) emphasizes adopters' incentives. the greater an advance the latest technology is compared to earlier alternatives, the more rapidly it will tend to diffuse. Yet adopt-ers of many new technologies wait rather than adopt immediately.1 they are held

Accelerating the diffusion of technology-enabled business

How artificial intelligence can deliver real value to – When compared to defender and analyzer firms, early adopters of new technologies tend to be less proactive. less profitable. less opportunistic. more risk averse. more specialized. more specialized.A.high switching costs for early adopters. firm either moves to new segment or cannibalizes its own product with more advanced one e.g. 3M do this; pioneers introducing new communications or information technologies tend to be especially aggressive in pricing BecauseYet they've been joined by a number of professional services firms (Deloitte, Accenture, PwC), early adopters in other industries (Gap, Lear, OppenheimerFunds), and even General Electric, the

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