Module 1

Question 1

innovation = x + exploitation

Answer 1

invention

Question 2

What are the steps of the innovation process?

Answer 2

1. idea
2. discovery
3. research
4. development
5. invention
6. market launch

Question 3

Which step turns invention to innovation?

Answer 3

Market launch

Question 4

What are the limitations of the innovation process?

Answer 4

• strongly simplified
• order of phases may vary
• no sharp border between phases
• feedback loops excluded

Question 5

Innovation …
* … can be very profitable
* … is ____ (uncertainty in technology, demand, competition)
* … can be very costly
* … almost always leads to ____ by other players
* … often happens outside routine business operations
* … is a process of “creative destruction”
* … often evokes ____ and runs into obstacles
* … usually requires ____ of many actors

Answer 5

risky
imitation
resistance
cooperation

Question 6

A few answers to Apple:
* ____ ≠ innovation
* Collaboration
* ____ model innovation
* Creative ____
* ____ effects
* Complementary products & services

Answer 6

invention
business
imitation
network