Deck 17: Learning to Manage Innovation and Entrepreneurship

Question 1

Which of the following would NOT be a good measure of innovation performance?

A)Number of new ideas (product/ service/ process) generated at start of innovation system
B)Number or percentage of overruns on development time and cost budgets
C)Level of employer contribution to employee pension
D)Development man-hours per completed innovation

Answer 1

C

Question 2

Which of the following would you NOT expect to hear people saying in an innovative organization?

A)There is top management commitment and support for innovation
B)There is a clear link between the innovation projects we carry out and the overall strategy of the business
C)If innovation happens round here, it's a lucky accident not a planned activity
D)We have processes in place to help us manage new product development effectively from idea to launch

Answer 2

C

Question 3

Benchmarking can only be used to compare between firms of the same size and working in the
same sector.

Answer 3

False

Question 4

Which of the following would you NOT expect to hear in an innovative organization?

A)We don't believe in talking to customers - they only make our life difficult
B)We are good at understanding the needs of our customers/end-users
C)We work well with universities and other research centres to help us develop our knowledge
D)We collaborate with other firms to develop new products or processes

Question 5

Which of the following would you NOT expect to hear in a successful innovating company?

A)We have good 'win-win' relationships with our suppliers and we pick up a steady stream of ideas from them
B)We look ahead in a structured way (using forecasting tools and techniques) to try and imagine future threats and opportunities
C)We work closely with 'lead users' to develop innovative new products and services
D)All of the above

Question 6

Which of these statements might you NOT expect people to make in an innovative organization?

A)We have a supportive climate for new ideas - people don't have to leave the organization to make them happen
B)We encourage people in this department to keep themselves to themselves - that way we keep control
C)People work well together across departmental boundaries
D)Our reward and recognition system supports innovation

Question 7

Innovation can't take place in public sector services because they don't have to make a profit.

Question 8

An organization might use a 'stage gate' system for innovation development in order to…

A)provide common rules of the game for product development within Coloplast
B)make clear decisions at the right moment
C)clarify responsibility for different asepcts of the project
D)All of the above

Question 9

Innovation success is directly related to R&D (research and development) spending
- the more you spend, the more innovations you get.

Question 10

Which of the following would you NOT expect to hear people saying about an innovative organization?

A)Our organization structure does not stifle innovation but helps it to happen
B)There is a strong commitment to training and development of people
C)Our reward and recognition system supports innovation
D)Suggesting changes or improvements is frowned upon

Question 11

A bubble chart is:

A)A graphical method for comparing risks and rewards in different innovation projects
B)A reference table for soap manufacturing
C)A graph showing the rate of inflation in high risk businesses - such as 'dotcom' ventures
D)None of the above

Question 12

Which of the following approaches can assist with effective change management?

A)A clear change management strategy at top level
B)Early involvement
C)Create an open climate, in which individual anxieties and concerns can be expressed
D)All of the above

Question 13

Patents are the best way to measure innovation.

Question 14

Which of the following is often associated with innovation success?

A)Understanding user needs
B)Good project management skills
C)Regular review of progress against clear stop/go criteria for the project
D)All of the above

Question 15

Successful innovation always depends on getting wild ideas from people working in a 'skunk works' environment.

Question 16

Innovation requires a formal investment in R&D.

Question 17

A Delphi panel is

A)an architectural feature of ancient Greek temples
B)a method for exploring possible futures by combining expert predictions
C)a group of venture capitalists
D)a special type of car door