When the concept of fast-casual dining (e.g. Chipotle, 5 Guy…

When the concept of fast-casual dining (e.g. Chipotle, 5 Guys, etc.) was introduced into the restaurant industry, several new startups were founded and competition ensued. During this period, restaurants competed to offer the public the fast-casual model that would be embraced more than any others in the market. Put differently, competitors competed to achieve the _____________________.

Klivinich is a manufacturer of oral hygiene products. In add…

Klivinich is a manufacturer of oral hygiene products. In addition to manufacturing and selling oral hygiene products, Klivinich also focuses on educating its customers on oral hygiene and dental problems. All its employees are trained to answer questions and help customers with oral hygiene and dental problems. This has helped Klivinich _____.

Brandack is a leading manufacturer of storage devices. Durin…

Brandack is a leading manufacturer of storage devices. During a span of every five years, it produces one high-performance storage device. At the beginning of the five-year period, the device’s performance improvement is slow. However, the improvement becomes rapid over time, and toward the end of the five-year period, it gradually begins to drop. In the context of technology cycles, this scenario best illustrates _____.

Bob’s Assembly is a hardware manufacturer. It specializes in…

Bob’s Assembly is a hardware manufacturer. It specializes in builders’ hardware for doors, cabinets, windows, and bathrooms. Bob’s Assembly products are economical and more durable than 95% of its competitors’ products. This scenario illustrates the concept of _____.

Kathym, a company that sells women’s handbags, gives all its…

Kathym, a company that sells women’s handbags, gives all its junior designers the opportunity to come up with their own original designs. The managers believe that providing them with challenging tasks will keep the designers interested and help them innovate. In the context of managing sources of innovation, which of the following concepts does this scenario best illustrate?

E-commerce as an industry has grown dramatically over the pa…

E-commerce as an industry has grown dramatically over the past 20 years, owing to technological advances and sociocultural shifts in buying habits. The number of competitors in the industry has also grown dramatically because the cost of entry is much lower than brick-and-mortar retail, technological requirements are low, and regulation is minimal. Existing companies should understand that the _______________________________ is very high in their industry.