Innovation & Continuous Improvement: Competitive & Strategic Advantages

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is a strategic or competitive advantage of either innovation or continuous product improvement?

I. Increases in profits

II. Increased brand value

III. The ability to ward off competitors

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1. Continuous process improvement refers to _____.

2. Which of the following companies is best known for leading the way in innovative tech gadgets?

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About This Quiz & Worksheet

Continuous process improvement and innovation are two separate ways that businesses can stay competitive. With this quiz/worksheet, you can answer questions on the advantages of these methods via topics like a strategic benefit(s) of innovation or continuous product improvement and an explanation of continuous process improvement.

Quiz & Worksheet Goals

The quiz will address the following points of interest:

  • Company that's famous for being a leader in innovative tech gadgets
  • Example of continuous process improvement
  • Example of a certain product that embodies the benefits of continuous process improvement

Skills Practiced

  • Defining key concepts - make sure you can correctly define continuous process improvement
  • Making connections - use your understanding of innovation and how it's connected to a company that's famous for producing tech gadgets
  • Information recall - access the knowledge you've gained regarding the competitive benefit(s) of innovation or continuous product improvement

Additional Learning

You can keep learning about effective business strategies in the accompanying lesson titled Innovation & Continuous Improvement: Competitive & Strategic Advantages. These topics will be considered:

  • Definition of innovation in a business context
  • Companies that put out innovative products
  • Things that are helped with continuous process improvement
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