Smartwork inc. produces popular electronic devices, such as notebook computers. for the design of their products, this firm used ideas generated in-house and from university professors. both sources of ideas created significant value. even though smartwork was not the first to think of all the ideas they used, they became the first to successfully commercialize these ideas. also, smartwork has been known to buy intellectual property when doing so suits their needs. this scenario describes a(n)

The scenario describes RADICAL INNOVATION.
The company invests in ideas that are expected to have significant effects on the market and not on specific products. The company is eager to commercialize products that have not been introduced into the market. 

Yikes. that sucks dide

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.