CE Exam #1

Advancements in financial systems

Improvements in the efficiency, speed, and accessibility of financial transactions and services.

Advancements in logistical systems

Innovations in the movement and storage of goods, leading to greater efficiency and reach.

Prototyping (3D printing)

Technologies that enable rapid creation of product prototypes.

Boston Consulting Group matrix

A tool for analyzing a company's product portfolio based on market share and growth.

High-performance teams

Teams characterized by clear goals, open communication, and mutual trust.

Competitor analysis

Evaluating the strengths and weaknesses of competitors and their products.

Conflict management strategies

Techniques for addressing conflicts within teams or organizations.

Conformity

The influence of group norms on individual behavior.

Customer segment analysis

Identifying target customer groups and understanding their preferences.

Design Patent

Protection for the ornamental design of a functional item.

Disruptive effects of digitalization

Transformative impacts of digital technologies on industries.

Team diversity and creativity

The relationship between team diversity and innovative output.

Division of labor

The allocation of tasks among individuals to increase efficiency.

First to file

A patent system where the first inventor to file receives the patent.

GANTT Chart

A project management tool for visualizing project schedules.

Innovation advantages of large companies

Resources and capabilities that enable larger companies to innovate more effectively.

Intellectual property (IP)

Intangible assets that protect innovations, such as patents and copyrights.

Manufacturing trends in North America

Changes in manufacturing practices, including automation and advanced techniques.

Market entry: 'Best heats first'

The strategy of entering a market quickly and decisively.

Market estimates for new products

Forecasting the potential demand for a new product.

Market segment characteristics

Variables used to define market segments, like age and income.

NAICS codes

Codes used to classify businesses by industry.

Patent application process

The steps involved in submitting a patent application.

Patent Cooperation Treaty (PCT)

An international treaty that simplifies the patent application process in multiple countries.

Patent litigation

Legal disputes related to patents and their infringement.

Patent trends

Differences in patent activity across countries.

Patents (definition and types)

Exclusive rights granted for inventions, including utility, design, and plant patents.

Peer pressure in teams

The influence of majority opinion on team members' innovative contributions.

Plant patents

Protection for new varieties of asexually reproducing plants.

Portfolio analysis techniques

Methods for evaluating a company's collection of businesses or products.

Post-mortem meetings

Reviews conducted after project completion to identify lessons learned.

Primary vs secondary data

Original data collected firsthand versus data collected by another source.

Proactive business strategies

Anticipating and acting on future market needs.

Product life cycle

The stages a product goes through from introduction to decline.

Project leadership dynamics

The skills and challenges involved in leading project teams.

Project life cycle

The stages a project goes through from initiation to closure.

Project management challenges

Difficulties encountered in project planning and execution.

Project meeting ground rules

Guidelines for effective and productive project meetings.

Project milestones

Important events or achievements within a project's timeline.

Project plan components

Elements that outline a project's goals, tasks, and schedule.

Project risk analysis

Identifying and assessing potential risks to a project.

Project scheduling

Developing a timeline for project tasks and milestones.

Project scope

The key elements outlining a project's goals and deliverables.

Project time management

Processes required to manage the timely completion of a project.

Provisional Patent Application

A legal document establishing an early filing date for an invention.

R&D Collaborations

Partnerships to jointly conduct research and develop new products.

Reactive Business Strategies

Approaches where a company responds to market changes as they occur.

Strategic Group Analysis

Categorizing companies within an industry based on their business strategies.

Substitute Products

Different products that satisfy the same customer needs.

SWOT Analysis

A strategic planning tool that identifies strengths, weaknesses, opportunities, and threats.

Team Conflict Management

Addressing and resolving disagreements among team members.

Team Development Stages

Phases that teams go through as they form and evolve.

Team Management Roles

Functions that leaders perform to facilitate effective teamwork.

Trade Secrets

Confidential business information that provides competitive advantages.

Types of Corporate Diversification

Expanding into new markets or products, either related or unrelated.

U.S. Patent System Strengths and Weaknesses

Advantages and drawbacks of the U.S. patent system.

Utility Patent

Protection for functional aspects of an invention.