Which of the following best describes the andldquo;Innovation Trapandrdquo;?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in Randamp;D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer?

EduRev

All Courses

Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity

Open App

UPSC Exam > UPSC Questions > Which of the following best describes the &ld...

Join the Discussion on the App

Which of the following best describes the “Innovation Trap”?

a)
A situation where a company focuses too much on incremental improvements and neglects radical innovations.
b)
A strategy where companies prioritize short-term gains over long-term growth.
c)
A scenario where a company invests heavily in R&D but fails to bring successful products to market.
d)
A condition where companies become too risk-averse and avoid any form of innovation.

Correct answer is option 'A'. Can you explain this answer?

FREE This question is part of

Test: Weekly Current Affairs: April 15th to 21st, 2024

Attempt Test

Attempt this Test

Most Upvoted Answer

Which of the following best describes the “Innovation Trap&rdquo...

What is the Innovation trap?
- It refers to a situation where organizations strive to innovate but inadvertently fall into patterns of thinking and behaviour that stifle genuine creativity and progress. This trap often arises when organizations prioritize conformity, rely too heavily on past successes, or resist challenging the status quo.
Explanation using example:
- Kodak’s downfall can be attributed to its reluctance to embrace digital photography despite inventing the first digital camera in 1975. Instead of capitalizing on this innovation, Kodak continued to focus on its traditional film business, believing that digital photography was just a passing fad. This lack of foresight and innovation allowed competitors like Canon and Nikon to gain a foothold in the digital camera market.

Answered by Notes Wala · View profile

Attention UPSC Students!

To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Lucent for GK

History for UPSC CSE

Indian Polity for UPSC CSE

View all answers Start learning for free

< Previous Question Next Question >

Explore Courses for UPSC exam

Similar UPSC Doubts

Read the information given below carefully and answer the following question.From ‘apparel to aerospace’, ‘steel to software’, the pace of technological innovation is quickening. No longer can companies afford to miss generation of technology and expect to remain competitive. Adding to the pressure, innovations are increasingly crossing industry boundaries; a new fibre developed by the textile industry has potential for building materials and medical equipment. Some companies are adept at using a diversity of technologies to create new products that transform markets. But many others are floundering because they rely on a technology strategy that no longer works in such a fast-changing environment. The difference between success and failure is not how much a company spends on research and development (R&D), but how it approaches it. There are two possibleapproaches. Either a company can invest in R&D that an older generation of technology the ‘break through’ approach-or its focus on combining existing technologies into hybrid technologies – the ‘technologies fusion’ approach. It blends incremental technical improvements from several previously separate field of technology to create products that revolutionise markets. In a world where the old maxim ‘one technology one industry’ no longer applies, a singular breakthrough strategy is inadequate; companies need to include both the breakthrough and fusion approaches in their technology strategy. Relying on breakthroughs alone fails because it focuses the R&D efforts to narrowly, ignoring the possibilities of combining technologies. Yet many western companies still rely almost exclusively – on the breakthrough approach. The reasons are complex: a distrust of outside innovations and not-invented here engineering and arrogance and aversion to sharing research results.Q.What does the author want to highlight by using the example ‘apparel to aerospace’ and ‘steel to software’?

View answer

Read the information given below carefully and answer the following question.From ‘apparel to aerospace’, ‘steel to software’, the pace of technological innovation is quickening. No longer can companies afford to miss generation of technology and expect to remain competitive. Adding to the pressure, innovations are increasingly crossing industry boundaries; a new fibre developed by the textile industry has potential for building materials and medical equipment. Some companies are adept at using a diversity of technologies to create new products that transform markets. But many others are floundering because they rely on a technology strategy that no longer works in such a fast-changing environment. The difference between success and failure is not how much a company spends on research and development (R&D), but how it approaches it. There are two possibleapproaches. Either a company can invest in R&D that an older generation of technology the ‘break through’ approach-or its focus on combining existing technologies into hybrid technologies – the ‘technologies fusion’ approach. It blends incremental technical improvements from several previously separate field of technology to create products that revolutionise markets. In a world where the old maxim ‘one technology one industry’ no longer applies, a singular breakthrough strategy is inadequate; companies need to include both the breakthrough and fusion approaches in their technology strategy. Relying on breakthroughs alone fails because it focuses the R&D efforts to narrowly, ignoring the possibilities of combining technologies. Yet many western companies still rely almost exclusively – on the breakthrough approach. The reasons are complex: a distrust of outside innovations and not-invented here engineering and arrogance and aversion to sharing research results.Q.Which of the following features of technology has been highlighted most prominently by the author of the passage?

View answer

From ‘apparel to aerospace’, ‘steel to software’, the pace of technological innovation is quickening. No longer can companies afford to miss generation of technology and expect to remain competitive. Adding to the pressure, innovations are increasingly crossing industry boundaries; a new fibre developed by the textile industry has potential for building materials and medical equipment. Some companies are adept at using a diversity of technologies to create new products that transform markets. But many others are floundering because they rely on a technology strategy that no longer works in such a fast changing environment. The difference between success and failure is not how much a company spends on research and development(R&D), but how it approaches it. There are two possible approaches. Either a company can invest in R&D that uses an older generation of technology, the ‘breakthrough’ approach-or its focus on combining existing technologies into hybrid technologies - the ‘technologies fusion’ approach. It blends incremental technical improvements from several previously separate fields of technology to create products that revolutionise markets. In a world where the old maxim ‘one technology one industry’ no longer applies, a singular breakthrough strategy is inadequate; companies need to include both the breakthrough and fusion approaches in their technology strategy. Relying on breakthroughs alone fails because it focuses the R&D efforts to narrowly, ignoring the possibilities of combining technologies. Yet many western companies still rely almost exclusively - on the breakthrough approach. The reasons are complex: a distrust of outside innovations and not-invented here engineering and arrogance and aversion to sharing research results.Which of the following features of technology has been highlighted most prominently by the author of the passage?

View answer

From ‘apparel to aerospace’, ‘steel to software’, the pace of technological innovation is quickening. No longer can companies afford to miss generation of technology and expect to remain competitive. Adding to the pressure, innovations are increasingly crossing industry boundaries; a new fibre developed by the textile industry has potential for building materials and medical equipment. Some companies are adept at using a diversity of technologies to create new products that transform markets. But many others are floundering because they rely on a technology strategy that no longer works in such a fast changing environment. The difference between success and failure is not how much a company spends on research and development(R&D), but how it approaches it. There are two possible approaches. Either a company can invest in R&D that uses an older generation of technology, the ‘breakthrough’ approach-or its focus on combining existing technologies into hybrid technologies - the ‘technologies fusion’ approach. It blends incremental technical improvements from several previously separate fields of technology to create products that revolutionise markets. In a world where the old maxim ‘one technology one industry’ no longer applies, a singular breakthrough strategy is inadequate; companies need to include both the breakthrough and fusion approaches in their technology strategy. Relying on breakthroughs alone fails because it focuses the R&D efforts to narrowly, ignoring the possibilities of combining technologies. Yet many western companies still rely almost exclusively - on the breakthrough approach. The reasons are complex: a distrust of outside innovations and not-invented here engineering and arrogance and aversion to sharing research results.What, according to the author, is adding to the pressure on the companies?

View answer

With reference to the Atal Innovation Mission (AIM), consider the following statements:1. It is an initiative of CSIR.2. It recently launched the fourth edition of‘Innovations for You’ coffee table book featuring 75 successful women entrepreneurs of India.Which of the statements given above is/are correct?

View answer

Top Courses for UPSCView all

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Lucent for GK

History for UPSC CSE

Indian Polity for UPSC CSE

CSAT Preparation

Top Courses for UPSC

View all

Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer?

Share with a Friend

Answer this doubt

Question Description
Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer?.

Solutions for Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following best describes the “Innovation Trap”?a)A situation where a company focuses too much on incremental improvements and neglects radical innovations.b)A strategy where companies prioritize short-term gains over long-term growth.c)A scenario where a company invests heavily in R&D but fails to bring successful products to market.d)A condition where companies become too risk-averse and avoid any form of innovation.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.

Explore Courses for UPSC exam