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Introduction to Retail Innovation Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Creative destruction is the process by which innovation produces improved processes and better products, making old products obsolete and ultimately destroying the prior economic order. Who created the theory of creative destruction?

Question 2 2. The model which streamlines workflows, and eliminates waste, to keep costs low while maintaining quality is known as:

Question 3 3. The following are negative effects of innovation except:

Question 4 4. The following is an example of an incremental innovation:

Question 5 5. Innovation can be:

Page 2

Question 6 6. The knowledge economy can be defined as _____.

Question 7 7. Define change-savvy.

Question 8 8.

One of the best ways to deal with change is to _____.

Which of these fits the blank?

A. Simply notice that you are in the midst of change and that change is a part of you.

B. Welcome change as a positive opportunity.

C. Realize that change will happen once in a while, and when you fight it, you feel better about yourself.

D. Face your feelings about the change.

Question 9 9. A person who acts as a catalyst for change is called a(n) _____.

Question 10 10. Which of these products would be most likely to drive change in the world?

Page 3

Question 11 11. QR codes were first created for which of the following purpose?

Question 12 12. This major - and fairly recent - innovation changed the retail landscape entirely:

Question 13 13. How did Starbucks capitalize on the idea of retail innovation?

Question 14 14. Retail innovation offers all of the following benefits to retailers EXCEPT which?

Question 15 15. Retail innovation is all about change that provides _____ to consumers.

Introduction to Retail Innovation Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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