Chp 9 Flashcards
(20 cards)
What is product innovation?
a) Commercializing new value as a product or service
What life cycle stage is product innovation most common?
a) Early stage
Product innovation is most associated with which strategy?
b) Differentiation
What is process innovation?
a) Commercializing new activities for efficiency and reliability
What life cycle stage is process innovation most common?
b) Late stage
What is incremental innovation?
a) Uses existing value chain, known markets, early stages
What is amplifying innovation?
a) Extends existing value chain and resources
What is disruptive innovation?
a) Serves under-served market segments by reconfiguring resources
What is radical innovation?
b) Requires new value chain and targets unknown markets
What approach identifies incremental and amplifying innovation?
a) Inside-out
What approach identifies disruptive and radical innovation?
b) Outside-in
What does the ‘portfolio’ approach mean in innovation risk management?
b) Developing a range of innovation projects
What are ‘small bets’ in innovation risk management?
b) Limited funding across many ideas
What does ‘options’ mean in innovation risk management?
b) Placing small bets with opportunities to invest more after milestones
What is a platform strategy in innovation?
b) Base for multiple new businesses
What is the definition of innovation?
a) Commercialization of a new way of creating value
How can human resources support innovation?
a) Hire curious thinkers and reward innovation behaviors
Why create cross-functional innovation teams?
a) To explore and experiment with authority
Why collaborate with external partners for innovation?
b) To access capabilities not available internally
What is disruptive innovation aiming to deliver to customers?
a) Reduced functionality at lower price
