MCQ on Innovation

Which of the following is an important innovation?

 Vaccine for CORONA virus

 IPL

 Online teaching 

 All of the above 

Which of the following agency take care IPR related matters? 

 World Economic Forum 

 WIPO

 World Bank 

 None of the above 

Which of the following may not be a characteristics of innovation? 

 Novel idea

 Low cost

 Commercial implementation 

 None of the above 

According to latest Global Innovation Index of WIPO, what is the rank of India? 

 25

 48

 52

 57

Which of the following is most important for innovation? 

 Proper lab facility 

 Monetary resource 

 Novel idea

 A cohesive team 

Which of the following statement is NOT quoted in the Peter F Drucker’s definition of Innovation?

 Innovation is the specific tool of entrepreneurs.

 It is the means by which entrepreneurs exploit change as an opportunity for a different business or a different service.

 Innovation is the practical implementation of ideas that result in the introduction of new goods or services

 None of the above

Which one of the following is a challenge to innovation in the current business environment?

 Resistance to change

 Able Workforce

 Confident leadership

 None of the above

Which one among following is NOT an important I’s in the process of innovation that differentiate it from invention?

 Idea

 Implementation

 International Outlook

 Impact

Which one of the following is a myth of innovation?

 Innovation begins with curiosity

 Innovation is iterative and an outcome of series of experiments

 Innovation is just about risk taking

 Efficient innovation involves risk taking, assessment and mitigation.

Which of the following is not an element of VUCA?

 Volatility

 Unclear

 Complexity

 Ambiguity

What are the reasons for resistance to change?

 Fear of failure

 Inertia

 Lack of confidence

 All of the above

Which of the statements is not correct with respect to Frugal innovation?

 Frugal innovation denotes a new frame of mind: one that sees resource constraints not as a liability but as an opportunity

 Frugal innovation favours rigidity over efficiency

 Frugal organizations don't seek to wow customers with technically sophisticated products

 Frugal innovation strives to create good quality solutions that deliver the greatest value to customers at the lowest cost.

Which one of the following is not a type of innovation according to industry system?

 Product innovation

 Process innovation

 Personnel Innovation

 Business Model innovation

Which among the following is an important school of creative thinking?

 Design Thinking

 Behaviour Thinking

 Linear Thinking

 Profit Thinking

Which of the following statement is false regarding the series of macro-economic events in the history of development?

 Industrialization in Europe

 South America becoming a major economic power

 Industrialization in Japan based on Quality principles

 Low-cost manufacturing from China