Read the following passage carefully and select the best answers using the text: 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 fiber developed by the textile industry has potential for building materials and medical equipments. 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. There are two possible approaches. Either a company can invest in R & D that replaces an older generation of technology- the ‘break through’ approach- or its focus on combining existing technologies into hybrid technologies- the ‘technology fusion’ approach. It blends incremental technical improvements from sevarel previously separate field of technology to create products that revolutionize In a world where the old maxim ‘one technology one industry’ no longer applies, a singular breakthrough stategy is inadequate; companies need to include both the breakthrough and fusion approaches in their technology strategy. 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. Why do western companies avoid the ‘technology fusion’ approach?
Solution
Correct Answer: Option A
Practice More Questions on Our App!
Download our app for free and access thousands of MCQ questions with detailed solutions