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Inno Test
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Questions in this quiz (96)
1Ch 2
1. Moore’s Chasm comes between which adopter categories?- Aa. Late Majority and Laggards
- Bb. Innovators and Early Adopters
- Cc. Early Majority and Late Majority
- Dd. Early Adopters and Early Majority
2Ch 2:
2. Inkjet printer manufacturers make most of their money on the cartridges. What Value Capture mechanism does this illustrate?- Aa. The pricing process
- Bb. The payer
- Cc. The basis of payment
- Dd. The price carrier
3Ch 2
3. Dominant Design is the term used to describe- Aa. The product design adopted by the first market entrant
- Bb. The most cost-effective design
- Cc. The design that becomes adopted by most participants
- Dd. The design used by the dominant player in the market
4Ch 2
4. The diffusion of solar panels in Africa has been helped by a payment scheme where the customer makes a small down payment and buys a code for a small sum to unlock the system for a month at a time. What are the two main diffusion factors at work here? b and _ is correct (multiple correct answers didn't work )- Aa. Relative advantage
- Bb. Trial-ability
- Cc. Observability
- Dd. Compatibility
- Ee. Complexity
- Ff. Risk
5Ch 2
5. Which Diffusion Factor prevented the early adoption of fluorescent lights for domestic use?- Aa. Relative advantage
- Bb. Trial-ability
- Cc. Observability
- Dd. Compatibility
- Ee. Complexity
- Ff. Risk
6Ch 2
6. The main criticism of Kondratiev’s Long Wave theory of innovation is- Aa. Lack of evidence
- Bb. Complexity
- Cc. Both a. and b.
- Dd. No predictive power
- Ee. Imprecise definition
- Ff. Both d.and e.
- Ge. All of the above
7Ch 2
7. The term Creative Destruction is attributed to- Aa. Schumpeter
- Bb. Reidel
- Cc. Christensen
- Dd. Burke
8Ch 2
8. What proportion of Economic growth can be attributed to Technical Innovation, according to Solow?- Aa. 12%
- Bb. 88%
- Cc. 48%
- Dd. 60%
9Ch 2
9. What was the main reason for the adoption of the VHS video tape format in the face of 2 major competitors?- Aa. Technical superiority
- Bb. Earlier launch leading to dominant market share
- Cc. Greater reliability
- Dd. Lower price
- Ee. More software available
10Ch 2
10. What is Absorptive Capacity?- Aa. A company’s ability to adopt innovations from outside
- Bb. A company’s ability to adjust to new information from the market
- Cc. The ability to manage a high level of change
- Dd. A company’s ability to accept initial losses on an innovative product
11Ch 2
11. The development of Linux is an example of which kind of Open Innovation?- Aa. Multiple
- Bb. Outside-in
- Cc. Inside-out
- Dd. Reciprocal
- Ee. Coupled
12Ch 2
12. What are Complementary Assets?- Aa. The business capabilities that a company uses to support an innovation
- Bb. The business capabilities a company needs to acquire to support an innovation.
- Cc. The capabilities a company has beyond those of the competition
- Dd. The capabilities a company brings into a collaboration that the partner lacks.
- Ee. Fundamental assets required to implement an innovation
13Ch 3
1. Which of the following describes a typical mature economy (in percentages of GDP?- Aa. Agriculture 50%; industry 40%; service 10%
- Bb. Agriculture 1%; industry 24%; service 75%
- Cc. Agriculture 35%; industry 35%; service 20%
- Dd. Agriculture 15%; industry 70%; service 15%
14Ch 3
2. Which country currently has the highest percentage of GDP generated by services?- Aa. Nigeria
- Bb. France
- Cc. USA
- Dd. UK
- Ee. Australia
15Ch 3
3. Which service company currently invests the most in R&D ($)?- Aa. NTT
- Bb. Royal Bank of Scotland
- Cc. Google
- Dd. Facebook
- Ee. None of the above – Mercedes invests the most in services
16Ch 3
4. What is service augmentation?- Aa. The people who buy a typical service
- Bb. The front-office team that deliver a service
- Cc. A method for delivering internet services
- Dd. The way in which a service is delivered (which influences customer satisfaction)
- Ee. The way service problems are escalated to management
17Ch 3
5. Which of the following is not a part of the servicescape?- Aa. The ambient conditions in a supermarket
- Bb. The uniforms of an airline’s cabin crew
- Cc. A bank’s ATM
- Dd. A back-office computer system
18Ch 3
6. Which of the following is not part of the servicescape of a university?- Aa. The toilets
- Bb. Lecture theatres
- Cc. Sports facilities
- Dd. Tutorial rooms
- Ee. Student accommodation in a private house
19Ch 3
7. What are the five generic characteristics of services?- Aa. fast food; financial services; recreation; hospitality; medical therapy
- Bb. intangibility; customer contact; inhomogeneity; feasibility; multi-faceted nature
- Cc. intangibility; customer contact; inhomogeneity; perishability; multi-faceted nature
- Dd. financial viability; customer contact; inhomogeneity; perishability; cross-functional
- Ee. intangibility; customer friendly; homogeneity; perishability; multi-faceted nature
20Ch 3
8. What does it mean that for customers that service products are intangible?- Aa. The service itself cannot simply be perceived by touch
- Bb. Customers may find it hard to express their needs
- Cc. As the service is intangible, the service scape also influences customer perceptions
- Dd. Front-office personnel are more friendly and flexible
- Ee. All a, b and c above
21Ch 3
9. How can customer contact in services be managed?- Aa. By considering personal contacts; the timing; and the data to be exchanged
- Bb. By considering contactless payments; time; and the information to be exchanged
- Cc. By considering the contact time; the intimacy; and the cash to be exchanged
- Dd. By considering the contact time; the intimacy; and the information to be exchanged
22Ch 3
10. What is service scripting?- Aa. The language used on a restaurant’s menu
- Bb. When front-office employees are instructed to say specific things to customers
- Cc. The words used in a car repair manual
- Dd. Satnav instructions to drivers
23Ch 3
11. What makes a service customer most satisfied?- Aa. When they receive an excellent product, friendly service at a good price
- Bb. When the service personnel are unfriendly but the service is cheap
- Cc. When the food is excellent but the restaurant is messy
- Dd. Queues for self-service machines at an airport
- Ee. Their favourite tune as background music during a long wait for an elevator
24Ch 3
12. What are four areas where CitizenM Hotels has reduced the costs of their operations?- Aa. No restaurants; low staff qualification; inflexible ambassadors; modular rooms
- Bb. No restaurants; no staff; self-service; modular rooms
- Cc. No restaurants; low staffing levels; flexible ambassadors; modular rooms
- Dd. King-sized beds; low ceilings; flexible ambassadors; modular rooms
- Ee. King-sized meals; twin beds; good locations; exclusive rooms
25Ch 4
1. What is meant by Performance Features in the Kano diagram?- Aa. Features that have reached the limit of capability
- Bb. Features that are necessary but do not give competitive advantage
- Cc. Features whose improvement always increases customer satisfaction
- Dd. Features that exceed the performance of competitors
26Ch 4
2. What is meant by Feature Fatigue?- Aa. A customer’s reaction to an excess of features
- Bb. When further improvements in a feature are no longer increase customer satisfaction
- Cc. When further improvement in a feature become difficult to achieve with current methods
- Dd. When a delighter feature is copied by competitors
27Ch 4
3. What is the ultimate origin of successful Delighter features?- Aa. Unacknowledged customer needs
- Bb. Examples from other markets.
- Cc. “Out of the box” thinking
- Dd. Newly available capabilities
28Ch 4
4. Which of these is/was an example of a Sustaining (as opposed to Disruptive) Innovation?- Aa. Low cost airlines such as Ryanair versus traditional carriers such as B.A.
- Bb. Digital Cameras
- Cc. LED lights
- Dd. Antibiotics
29Ch 4
5. What is a Blue Ocean Strategy?- Aa. An innovation strategy that offers a new value proposition
- Bb. An entirely new strategy for the organisation.
- Cc. An extremely radical idea
- Dd. A strategy that still needs to be proven in practice
30Ch 4
6. What are the elements of a Business Model Canvas?- Aa. Time, Cost, Customers, Risk
- Bb. Infrastructure, Risk, Money, Cost
- Cc. Infrastructure, Money, Offer, Customers
- Dd. Offer, Time, Customers, Competition
31Ch 4
7. Which of these is an example of Disruptive Innovation?- Aa. Commercial Spacetravel
- Bb. Electric motors for cars
- Cc. Streaming of music on demand (eg Spotify)
- Dd. Electronic Advertising boards
32Ch 4
8. Which of these is an example of a Systemic Innovation (Architectural)?- Aa. TV remote control
- Bb. Automatic transmission in vehicles brakes
- Cc. Containerisation
- Dd. The zip fastener
33Ch 4
9. Which of these products/companies benefits most from Network effects?- Aa. Amazon
- Bb. Uber
- Cc. Facebook
- Dd. YouTube
34Ch 4
10. What is meant by the Extendible Core of a potentially disruptive innovation?- Aa. The part whose enhancement offers the greatest immediate benefit
- Bb. The part whose enhancement offers the greatest long-term benefit
- Cc. The aspect of the business model that could be enhanced by cooperation
- Dd. The aspect of the business model that could be enhanced to allow a move up-market
35Ch 4
11. What is a Scenario Plan?- Aa. A map of the most promising route forward
- Bb. A description of the most likely future state
- Cc. A consistent view of one possible future state
- Dd. A complete plan for developing a coherent strategy
36Ch 4
12. Ideally, who should compile a Topic roadmap?- Aa. A specialist department with experience of roadmapping.
- Bb. Those with the appropriate specialist knowledge
- Cc. Independent consultants working with higher management
- Dd. The managers responsible for the business concerned
37Ch 5
1. Which of the following best describes a market research focus group?- Aa. A meeting of top sales people to discuss revenues
- Bb. A moderated workshop with lead users
- Cc. A moderated discussion involving 6-9 selected customers discussing products
- Dd. A moderated discussion where key suppliers discuss their technologies
38Ch 5
2. What are the main limitations of ethnographic market research?- Aa. It takes time and effort to organize, conduct and analyse
- Bb. Customers prefer focus groups
- Cc. Customers have to be paid more than for focus groups
- Dd. The cost of video equipment
39Ch 5
3. Which of the following best describes tacit knowledge?- Aa. Knowledge which is easy to articulate, easy to share, and easy to document
- Bb. Knowledge which has been forgotten long ago
- Cc. Knowledge which is hard to articulate, hard to share, and easy to document
- Dd. Knowledge which is hard to articulate, hard to share, and hard to document
40Ch 5
4. How does repertory grid technique (RGT) uncover tacit knowledge?- Aa. Through putting the interviewee into a trance-like state
- Bb. Through asking the same question multiple time and hoping for a different answer
- Cc. Through asking the same question multiple time and requiring different answers
- Dd. Through deep analysis of random statements
- Ee. By dealing a set of cards that the interviewee does not know
41Ch 5
5. What are the four stages of problem solving according to Wallas?- Aa. Preparation; insulation; illumination; and verification
- Bb. Preparation; incubation; illumination; and iteration
- Cc. Preparation; investigation; illumination; and verification
- Dd. Preparation; incubation; illumination; and verification
42Ch 5
6. What are the three types of business creativity?- Aa. Directed; free; and thinking outside-the-box creativity
- Bb. Exploratory, normative, and serendipitous creativity
- Cc. Exploratory, associated, and serendipitous creativity
- Dd. Exploratory, normative, and restructured creativity
- Ee. Exploratory, threshold, and serendipitous creativity
43Ch 5
7. Which of the following statements is incorrect?- Aa. Diverse groups are often more creative
- Bb. Giving employees direction supports creativity
- Cc. Matching the right group of individuals with the right challenge helps
- Dd. Suitable resources for creativity should be available (including time and money)
- Ee. Everyone should have the same frame of reference
44Ch 5
8. What are the advantages of brainwriting compared to brainstorming?- Aa. All ideas are documented
- Bb. The first idea that emerges strongly influences all subsequent discussions
- Cc. All ideas are considered and no single person or idea dominates
- Dd. Front-office personnel can also be involved
- Ee. It works with cross-functional teams
45Ch 5
9. How does attribute association improve a product?- Aa. By considering how to modify, subtract, multiply, divide, or unify attributes
- Bb. By considering how make products more attractive using industrial design
- Cc. By considering how to modify, subtract, multiply, divide, or reject attributes
- Dd. By considering how to make products cheaper
46Ch 5
10. What is TRIZ?- Aa. A creativity technique: technical resolution in zest
- Bb. A database of solutions to problems based on nature
- Cd. A database of product attributes
- De. A database of famous products
47Ch 5
11. What is reverse engineering?- Aa. Buying a competitor’s product, to identify their patents
- Bb. Products developed for the developing world but later reaching global markets
- Cc. Products developed for lead users but later reaching more customers
- Dd. Buying a competitor’s product, to identify their ideas
- Ee. Products developed for B2B customers becoming relevant for B2C customers
48Ch 5
12. Which of the following four inventions could be patented?- Aa. An invention that engineers have already presented at a global conference
- Bb. A new method of doing business
- Cc. The design of a restaurant
- Dd. Something novel; involving an inventive step; with practical application(s)
49Ch 6
1. If the yearly cost of money is 15 % what is the discount factor for income after 3 years?- Aa. 0.84
- Bb. 0.71
- Cc. 0.66
- Dd. 0.45
50Ch 6
2. What is the NPV for the following project?
- Aa. $190
- Bb.$ 63
- Cc.$ 133
- Dd. $73
51Ch 6
3. What is the time to break even for the above project?- Aa. 3 years
- Bb. 4 years
- Cc. 5 years
- Dd. 6 years
- Ee. 7 years
524. What is meant by the Internal Rate of Return (IRR)?
- Aa. The profit on a project divided by the project cost
- Bb. The discount rate that would make the Net Present Value zero
- Cc. The minimum required profit on innovation projects
- Dd. The total profit on a project over its lifetime divided by the lifetime in years
53Ch 6
5. What is meant by Group Think?- Aa. The tendency for groups to debate for too long
- Bb. The improved accuracy that comes from diverse inputs
- Cc. The improved motivation from working in a group
- Dd. A counterproductive desire for conformity in a group
54Ch 6
6. What is meant by Anchoring in the context of decision making?- Aa. The tendency for an estimate to be biased by a suggested example
- Bb. How an estimate made by a group is made more accurate by the members’ knowledge
- Cc. The placing of agreed boundaries on an estimation process
- Dd. The reduction of bias by previous knowledge.
55Ch 6
7. Roughly how many samples are needed to make an estimate accurate to 1%?- Aa. 50
- Bb. 100
- Cc. 200
- Dd. 1000
56Ch 6
8. What is the Estimated Commercial Value (ECV) of the following multi-stage project?
- Aa. £5.35M
- Bb. £7.45M
- Cc. £12.10M
- Dd. £ 13.25M
57Ch 6
9. The boss opens a project selection meeting boss announces his choices. What heuristic biases may this introduce to the decision process? d is correct and _ (multiple answers not possible)- Aa. Framing
- Bb. The Halo effect
- Cc. The law of small numbers
- Dd. Anchoring
- Ee. Group think
- Ff. Availability
58Ch 6
10. Which of these can be used to obtain an approximate measure of return on investment?- Aa. The Opportunity score
- Bb. The Feasibility score
- Cc. The Opportunity score multiplied by the Feasibility score
- Dd. The Opportunity score divided the Feasibility score
- Ee. The sum of Opportunity and Feasibility scores.
59Ch 6
11. The outer scaling statements for a scoring system should be chosen so that- Aa. All projects may be expected to score between them
- Bb. Most projects may be expected to score between them
- Cc. Projects falling within them should be acceptable
- Dd. Projects falling outside them are expected to be too risky to consider
60Ch 6
12. How many attributes of an innovation can be displayed on a Bubble Diagram?- Aa. 2
- Bb. 3
- Cc. 4
- Dd. 5
61Ch 7
1. What are the elements of a Service Blueprint?- Aa. Value, Form, Nature, Outcome
- Bb. Value, Cost, Form, Outcome
- Cc. Requirement, Value, Management, Duration
- Dd. Form, Management, Staffing, Outcome
62Ch 7
2. When jobs of random length arrive at a single server, a queue of one job length on average, will form when the server is busy for approximately what proportion of the time?- Aa. 95%
- Bb. 90%
- Cc. 70%
- Dd. 50%
63Ch 7
3. What are the elements of the Project Management triangle?- Aa. Cost, Time, Risk
- Bb. Staff, Specification, Uncertainty
- Cc. Staff, Customers, Management
- Dd. Cost, Specification, Time
64Ch 7
4. What does the ‘roof’ in QFD record?- Aa. Conflicts between features
- Bb. Conflicts between levels of specification
- Cc. Opportunities for improvement
- Dd. Excess requirements
65Ch 7
5. Which of these project characteristics points to using Staged rather than Agile Project Management?- Aa. A tight timescale
- Bb. Political exposure
- Cc. Co-located team members
- Dd. Many technical disciplines are involved
66Ch 7
6. What is the typical length of a Sprint?- Aa. One day
- Bb. One week
- Cc. A few weeks
- Dd. 3 months
67Ch 7
7. What determines the best duration of a work package?- Aa. The size of the team
- Bb. The amount of work to be done
- Cc. The separation of the stage gates
- Dd. The accuracy of control required
68Ch 7
8. What is generally the optimum number of Stage Gates?- Aa. Three
- Bb. Five
- Cc. Four to eight
- Dd. As many as time allows
69Ch 7
9. Who holds responsibility for ensuring that the results of a peer review are implemented?- Aa. The reviewing team
- Bb. The reviewed team
- Cc. Immediate line management
- Dd. Higher management
70Ch 7
10. What is meant by Planning Poker?- Aa. The fact that some project requirements emerge only late in the project
- Bb. The practice of estimating project parameters by asking participants to reveal their estimates simultaneously.
- Cc. Making important planning assumptions on slim evidence
- Dd. The practice of building contingencies into a plan without the knowledge of the team.
71Ch 7
11. Which of these factors is more problematic in open innovation projects than in subcontract or acquisition situations?- Aa. Cultural issues
- Bb. Clarity of responsibilities
- Cc. Crisis management
- Dd. Ownership of IPR
72Ch 7
12. Project managers should keep contact with influential senior managers who are not immediately involved with the project because:- Aa. They can become hostile if the project develops so as to affect their interests
- Bb. They may seek to divert project staff to other tasks
- Cc. They be useful sources of advice
- Dd. They may be useful allies if the project gets into difficulties.
73Ch 8
1. What is the Cultural Web?- Aa. The cross-functional network working on new products
- Bb. A moderated workshop with key customers
- Cc. The intrigue in deciding which innovation projects should be selected
- Dd. A tool for diagnosing and managing culture
74Ch 8
2. Which of the following is correct?- Aa. Culture is challenging to manage
- Bb. Culture has no impact on innovation performance
- Cc. Culture is only dependent on a company’s home country
- Dd. Cultural change only requires a change of organization
75Ch 8
3. Which manager is most likely to create a culture of innovation?- Aa. Manager A has a good story to tell, which will change company culture
- Bb. Manager B wants to make the company to imitate Google or Apple
- Cc. Manager C is considering which ideas from other organizations can help him
- Dd. Manager D has decided to focus on downsizing
76Ch 8
4. What are the three phases an employee goes through on taking a new position?- Aa. Introduction; innovation; and stabilization
- Bb. Introduction; innovation; and stabilization
- Cc. Socialization; innovation; and stabilization
- Dd. Stabilization; innovation; and socialization
77Ch 8
5. Which type of team would probably be best for improving the quality of a component?- Aa. A functional team from finance
- Bb. A functional team from manufacturing
- Cc. A functional team from marketing
- Dd. A skunkworks (autonomous) team
78Ch 8
6. Which type of team would probably be best for developing a radical innovation?- Aa. A cross-functional virtual team
- Bb. A functional team from marketing
- Cc. A cross-functional team based in headquarters
- Dd. A skunkworks (autonomous) team
79Ch 8
7. What is the main difficulty with cross-functional teams?- Aa. They may not give the project manager enough power
- Bb. They may not bring enough knowledge together
- Cc. They do not involve enough functional areas
- Dd. They may not all be in the same location
80Ch 8
8. What are the main limitations of autonomous teams?- Aa. They are freed from the bureaucracy of the parent organization
- Bb. They develop their own culture and require skilled managers
- Cc. They require more space than traditional cross-functional teams
- Dd. They work well for radical new products but not for business model innovation
81Ch 8
9. Which phases did Tuckman identify that a team goes through?- Aa. Forming; norming; storming; and performing
- Bb. Forming; storming; norming; and mastering
- Cc. Forming; testing; norming; and performing
- Dd. Forming; storming; norming; and performing
82Ch 8
10. Which of the following should a CEO of a large organization do to drive innovation?- Aa. Reorganize the company and drop all rewards as ‘innovation is part of the job’
- Bb. Consider using a skunkworks to develop a radical idea
- Cc. Articulate his or her ideas of the products to be developed
- Dd. Ask everyone to submit ideas and think ‘outside-the-box’
83Ch 8
11. What might happen when an autonomous team misses a Belbin ‘completer-finisher’?- Aa. The team will reach the performing phase faster
- Bb. The team will have fewer ideas
- Cc. The team will have fewer problems with storming
- Dd. The team will select fewer ideas
- Ee. The team will struggle with implementation
84Ch 8
12. Which process would be best for an autonomous team developing a radical product?- Aa. The company’s well-tested Stage-gate process
- Bb. A spiral process which omits business model innovation
- Cc. A consultancy’s advanced Stage-gate process
- Dd. A spiral process which considers business model innovation
85Ch 9
1. Given Cost, Vision and Process, which of these is the remaining element in the Change Equation?- Aa. Acceptance
- Bb. Dissatisfaction
- Cc. Motivation
- Dd. Leadership
86Ch 9
2. What is the key deficiency of R&D expenditure as a measure of Innovation capability?- Aa. It measures only the technical side of innovation.
- Bb. Accurate figures are seldom available
- Cc. It does not measure the quality of the work done
- Dd. It is a measure of input, not results
87Ch 9
3. Percentage of sales from new products is one possible measure of innovation. Which of the following is the key advantage of this measure?- Aa. Higher managers readily identify with it
- Bb. New products are motivational for the sales force
- Cc. It is a measure of innovation output
- Dd. New products are the most important form of innovation.
88Ch 9
4. Kaplan and Norton’s tool is called:- Aa. Broad Assessment Framework
- Bb. Balanced Measure
- Cc. Balanced Scorecard
- Dd. Innovation Scorecard.
89Ch 9
5. Which of these is an advantage of using the number of patents as a measure of innovation?- Aa. Patents measure truly original ideas
- Bb. Every new idea is valuable
- Cc. Data on competitors is readily available
- Dd. Patents are clearly identified with the inventors and so can be used as a clear basis for rewards.
90Ch 9
6. An innovation audit is best conducted by?- Aa. An experienced general manager
- Bb. A trusted non-manager
- Cc. An external consultant
- Dd. An online survey
91Ch 9
7. Which of the following statements about an innovation audit is incorrect?- Aa. The results can easily be compared across different companies
- Bb. The results can be used to help plan changes to culture
- Cc. The results include many employees’ suggestions for improvements
- Dd. The results can be analysed by functional areas
92Ch 9
8. Which of the following statements about an innovation audit is correct?- Aa. The results can easily be compared across different companies
- Bb. The five elements of the Pentathlon are completely independent
- Cc. In a typical company the results are valid for many years
- Dd. Managers’ opinions on innovation may differ from those of employees
93Ch 9
9. Which of the following statements about innovation management is correct?- Aa. Innovation management is mainly about R&D
- Bb. Finance departments have no influence on innovation
- Cc. Industrial design is the most important function at the fuzzy front-end
- Dd. Many companies get caught in the so-called incremental innovation trap
94Ch 9
10. What statement on the Pentathlon Framework is incorrect?- Aa. It identifies the five main areas of innovation management
- Bb. It identifies the main areas of innovation management and the main outputs
- Cc. It only diagnoses the current cultural paradigm of an organization
- Dd. It only identifies the current status and cannot predict future performance
- Ee. It includes idea generation; portfolio management; and implementation
95Ch 9
11. Which of the following suggestions is unlikely to increase innovation performance?- Aa. Increasing the number of ideas generated
- Bb. Selecting the projects with the best potential
- Cc. Implementing the best ideas that bring significant ROI
- Dd. Adopting Google’s idea of playing table tennis at lunchtimes
96Ch 9
12. Which of the following statements about managing innovation is correct?- Aa. It requires very different skills as it involves complex processes and people
- Bb. It is mainly based on engineering principles
- Cc. It requires processes and these are more important than rewards and recognition
- Dd. It requires strict processes that will always kill creativity
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- Business/Economics Quiz on Inno Test, created by John Smith on 24/02/2018.
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- John Smith
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