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Identify three examples given in the article of how government policy has either promoted or hindered innovation
Bayh–Dole Act (USA, 1980); Laibin B project (China, 1996); and European construction industry regulations
Explain the difference between incremental and radical innovation using your own words and an example from business or technology.
Incremental innovation = small, step-by-step improvements (e.g., smartphone software updates). Radical innovation = disruptive breakthroughs (e.g., iPhone)
Define 'stringent policies' (e.g. The more stringent policies should promote more radical innovations than incremental innovations, controlling for the technology gap. )
having a very severe effect, or being extremely limiting rules
Define "absorptive capacity" (e.g.Likewise,a firm's absorptive capacity depends on its human capital, their abilities, and the capability of the firm to recognize valuable new technologies and the manner in which they can be exploited.)
an organisation’s ability to identify, assimilate, transform, and use external knowledge, research and practice
Define "precipitating events" (e.g. The market-based view of innovation suggests that information from the environment represented in the form of “precipitating events” can stimulate or hinder innovation activities (Zahra, 1991).)
a trigger, a catalyst that sets off a series of chain reactions, leading to significant consequences
Define "portfolio of policies" (e.g. We also propose that the creation of such conditions requires a portfolio of innovation policies.)
a strategic combination of various policy interventions designed to address multifaceted policy problems
According to the article, which factor is not part of Ashford’s framework for innovation? A) Willingness to change B) Capacity to change C) Opportunity to change D) Profitability of change
D) Profitability of change
Which act significantly changed the role of US universities in innovation? A) Sherman Antitrust Act B) Bayh–Dole Act C) National Cooperative Research Act D) Energy Innovation Hubs Program
B) Bayh–Dole Act
Incremental innovation is best described as: A) A radical breakthrough that disrupts markets B) A gradual improvement of existing processes or products C) An innovation based only on administrative changes D) A government-driven
B) A gradual improvement of existing processes or products
What is meant by absorptive capacity? A) The ability of a government to fund innovation B)A firm’s ability to recognize and use external knowledge C)The willingness of employees to accept change D)The level of risk a company can tolerate
B) A firm’s ability to recognize and use external knowledge
According to the article, one risk of Public–Private Partnerships is A)Lack of funding from governments B)Too much flexibility in innovation C)Long-term contracts that may discourage experimentation D) Absence of risk-sharing mechanisms
C) Long-term contracts that may discourage experimentation
