L1 & 2- innovation

Question 1

innovation

Answer 1

invention of a product and its commercialisation (converting knowledge into p&s, captures value, doesn’t have to be successful)

Question 2

why innovate (govt centric)

Answer 2

economic & social value

Question 3

why innovate (business centric)

Answer 3

market, financial, people, and external forces related

Question 4

4 Ps innovation

Answer 4

product, process, people / position, paradigm

Question 5

product innovation

Answer 5

changes in p/s org offers

Question 6

process innovation

Answer 6

changes in ways p/s created and delivered

Question 7

people / position innovation

Answer 7

changes in context in the ways p/s are introduced

Question 8

paradigm innovation

Answer 8

changes in underlying mental models framing what org does

Question 9

innovation challenges

Answer 9

how far to follow tech opportunity, how much to open up to outside innovation ideas, how much to invest in prod vs process innovation

Question 10

innovation types

Answer 10

degree of novelty, main beneficiary, market maturity, market segment by income, source of innovation

Question 11

types of value

Answer 11

economic, functional, physical, emotional, social, cognitive, political

Question 12

developing innovation mgmt capabilities model

Answer 12

awareness of how to change (x) against awareness of need to change (y)

Question 13

disruptive innovators

Answer 13

most pro-active & creative firms. potential to become superior, create using price-performance ratio

Question 14

core capabilities

Answer 14

search, select, implement, capture (+ learning feedbacks at each stage)

Question 15

dynamic capabilities

Answer 15

sensing, learning, integrating, co-ordinating

Question 16

Rowthwell’s 5gens of innovation models

Answer 16

1st&2nd: linear, 3rd: coupling, 4th: parallel, 5th: systems integration & extensive networking

Question 17

running in packs vs going at it alone

Answer 17

running in packs more effective to develop & commercialise knowledge intensive techs.

Question 18

search phase method examples

Answer 18

biomimicry, innovation contests (Innocentive), online brainstorming (IBM)

Question 19

search phase capabilities

Answer 19

recognising,, acquiring, generating, learning, developing org

Question 20

select phase capabilities

Answer 20

aligning, choosing, executing, implementing

Question 21

search tools

Answer 21

brainstorming, market research, R&D, biomimicry, innovation jumps, innocentive

Question 22

select tools

Answer 22

portfolio mgmt, screening, voting contests