Module 2

Question 1

Innovation

Answer 1

the creation of new customer value by developing solutions that meet new needs, uncover and satisfy unarticulated needs, or address old needs in new ways

Question 2

Innovations do the following (at least one)

Answer 2

It fulfills a new or emerging need that is only recently being realized by the organization or market.
2. It fulfills needs that customers are (as yet) unable to articulate
3. It fulfills old needs in new ways that lead to major performance or functionality improvements.

Question 3

Types of Innovation

Answer 3

Core Offering - product/service provided
Delivery -
Process-
Financial

Question 4

Forms of Innovation

Answer 4

Execution Driven
Customer Driven
Competency Driven
Pure Research

Question 5

Barriers to Innovation

Answer 5

1. Inadequate funding or resource dedication
2. An inability or unwillingness to tolerate reasonable risk
3. A vertically siloed organizational structure
4. An inability or unwillingness to prioritize innovation
5. An inability or unwillingness to create adequate incentives and rewards