Question: QUESTION 1: All else equal, Disruptive innovations' main characteristics are that they initially outperform on traditional performance criteria and also satisfy the need of a

QUESTION 1: All else equal, Disruptive innovations' main characteristics are that they initially outperform on traditional performance criteria and also satisfy the need of a niche market. Do you agree with this statement (Yes) (No)? (2 Pts). Explain why? (5 Pts)

QUESTION 2: All else equal, a firm that innovates through imitation of a standardized product can expect to produce a product for a niche market, since the general market for the standardized product will be dominated by early adopters. Do you agree with this statement (Yes/No)? (2 Pts). Explain why? (5 Pts)

QUESTION 3: How and why does the emergence of standards (i.e., following the acceptance of a dominant design) influence innovation dynamics between competitors in a technological field or industry? (5 pts)

QUESTION 4: Identify three ways a firm can try to increase the overall value of its technology and its likelihood of becoming the dominant design? (10 Pts)

QUESTION 5: Describe the trade-off between exploration and exploitation (10 Pts)

QUESTION 6: Looking forward, is virtual reality a "winner-take-all" or "winner-take-most" (i.e., the market would have room for 2 or 3 competitors in the long-run) market or not? Will this market become highly concentrated? Provide 3 key considerations for or against this market outcome (10 Pts)

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