Revival of Mechanical Watches
In the 1990's did the industry shift back to Quartz or Mechanical?
Mechanical
Name 1 of the 4 types of innovation introduced in the reading.
Incremental Innovation, Disruptive Innovation
, Continuous Innovation, Revolutionary Innovation
True or False: The free market model promotes faster innovation than the coordinated market model.
True
What is one way governments help support innovation?
Governments provide funding for research
Which country made the majority of mechanical watches?
Switzerland
True or False: Disruptive innovation can completely change a market by introducing a new, more efficient technology.
True
Fill in the blank _ was forced to move out of Germany, that stifled innovation.
Einstein, Oppenheimer
How does a country’s culture affect its use of patents?
In more individualistic cultures, like the USA, people are more likely to use patents to protect and profit
How did the Swatch Brand innovate to match industry standard? (3 different answers)
Trendy Design
Affordable Pricing
Heavy Marketing
True or False: Incremental innovation involves small improvements to existing products rather than major changes.
True
Fill in the blank: Japan and Germany are examples of countries with a __ market model.
Coordinated
Why might a company choose not to get a patent for a new invention?
To avoid drawing attention to the invention and keep competitors from copying it.
How did advancements in mechanical engineering impact the watch industry?
Allowed watchmakers to refine mechanical watch movements, boosting their appeal to consumers
What type of innovation does the rise of smartphone belong to.
Disruptive
What is one advantage of the free market model for innovation?
Encourages risk-taking and entrepreneurship.
Which of the two's innovation slowed down after World War II? (Germany or USA)
Germany’s innovation slowed down, while the USA increased its innovation with government support.
Why was the revival of mechanical watches in the 1990s surprising to industry experts?
Quartz technology was more accurate and affordable, leading many experts to believe that mechanical watches would become obsolete.
How does the Swiss watch industry demonstrate a unique approach to innovation?
Combines incremental and design-focused innovations, emphasizing craftsmanship
What actions can government take to promote innovation?
Subsidiary aid, regulation law
Which two cultural characteristics are linked to higher innovation rates?
Cultures that emphasize individualism and risk-taking are often linked to higher rates of innovation.