General Awareness: Business Innovation Quiz

1. Which of the following is NOT a recognized form of business innovation?

a. Process innovation
b. Programme innovation
c. Product innovation
d. Strategic innovation

The correct answer is c. Product innovation

2. Who said: "Innovation distinguishes between a leader and a follower"?

a. Steve Jobs
b. Rupert Murdoch
c. Bill Gates
d. Martha Stewart

The correct answer is a. Steve Jobs

3. What is 'Six Sigma'?

a. A mathematical model for increasing output while lowering costs
b. A system of quality management
c. A form of industrial dispute arbitration
d. An ad-hoc grouping of the world's six most valuable companies

The correct answer is b. A system of quality management

4. Jack Welch is regarded as one of the great business innovators of the modern era. Of which company was he CEO?

a. Pfizer
b. IBM
c. Wal-Mart
d. General Electric

The correct answer is d. General Electric

5. 'Kaizen' is a hugely influential philosophy of business management. Where was it first developed?

a. China
b. South Korea
c. Japan
d. Taiwan

The correct answer is c. Japan

6. The production system of which car giant is often held up as a model of business innovation?

a. Fiat
b. Volkswagen
c. Peugeot
d. Toyota

The correct answer is d. Toyota

7. Complete the following quote from Larry Ellison, co-founder and CEO of software giant Oracle: 'When you innovate you've got to be prepared for everyone telling you you're...'

a. Nuts
b. Brilliant
c. Wrong
d. Losing the plot

The correct answer is a. Nuts

8. Which of the following is a major US award for excellence and innovation in business?

a. The Henry Ford Industrial Pioneer Award
b. The Larry Roberts Commercial Achievement Award
c. The Peter Drucker Business Champion Award
d. The Malcolm Baldrige National Quality Award

The correct answer is d. The Malcolm Baldrige National Quality Award

9. The aerospace arm of Rolls-Royce has revolutionized the sale of aircraft engines by offering a fixed-fee maintenance back-up service with all its engines. What is that service called?

a. Pay by the Day
b. Report and Support
c. Power by the Hour
d. Repair in the Air

The correct answer is c. Power by the Hour

10. Inventor James Dyson, one of Britain's most famous business innovators, is best-known for his bagless vacuum cleaner. Which of the following is NOT a James Dyson invention?

a. The Motorball
b. The Trolleyball
c. The Wheelboat
d. The Ballbarrow

The correct answer is a. The Motorball