TEST 2

Question 1

Lego: Why did they almost go bankrupt?

Answer 1

Because they tried to shy away from the original brick model

Question 2

Lego: Why was their innovation story so unique?

Answer 2

Because they started out making wooden toys and then went into plastic bricks

Question 3

Corporate Startup: Innovation Thesis

Answer 3

Innovation must be part of and aligned with the overall strategic goals of the company

Question 4

Innovation Thesis

Answer 4

Clearly sees a company’s view of the future and the strategic objectives of innovation

Question 5

What are the 4 platforms of innovation radar?

Answer 5

Offerings (What), Presence (Where), Customers (Who), Processes (How)

Question 6

What are the 10 types of innovation?

Answer 6

Profit Model, Network, Structure, Process, Product Performance, Product System, Service, Channel, Brand, Customer Engagement

Question 7

What is a Profit Model?

Answer 7

The way in which you make money

Question 8

What is Structure?

Answer 8

Alignment of your talent and assets

Question 9

What is Network?

Answer 9

Connections with others to create value

Question 10

What is Process?

Answer 10

Signature or superior methods for doing your work

Question 11

What is Product Performance?

Answer 11

Distinguishing features and functionality

Question 12

What is Service?

Answer 12

Support and enhancements that surround your offerings

Question 13

What is Product System?

Answer 13

Complementary products and services

Question 14

What is Channel?

Answer 14

How your offerings are delivered to customers and users

Question 15

What is a Brand?

Answer 15

Representation of your offerings and business

Question 16

What is Customer Engagement?

Answer 16

Distinctive interactions you foster

Question 17

What are the Seven Sources of Innovation?

Answer 17

Knowledge, Unexpected, Demography, Process Needs, Perception, Incongruities, Industry and Market

Question 18

What are the three topics in Innovation Ambition Matrix?

Answer 18

Core, Adjacent, Transformational

Question 19

What is Core Innovation?

Answer 19

Optimizing existing products for existing customers

Question 20

What is Adjacent Innovation?

Answer 20

Expanding from existing business into “new to the company” business

Question 21

What is Transformational Innovation?

Answer 21

Developing breakthroughs and inventing things for markets that don’t yet exist?

Question 22

What is an example of Transformational Innovation?

Answer 22

iTunes

Question 23

What is an example of Adjacent Innovation?

Answer 23

Swifter

Question 24

What is an example of Core Innovation?

Answer 24

100 Calories Packs

Question 25

What is the Golden Ratio?

Answer 25

70/20/10 vs 10/20/70 Higher share performance vs distribution of returns

Question 26

What is the purpose of managing your innovation portfolio?

Answer 26

- Gives managers a framework for surveying all the initiatives the business has underway - Gives managers a way to discuss the right overall ambition for the company's innovation portfolio

Question 27

What is open innovation?

Answer 27

Pulls innovation from both internal and external sources

Question 28

What is an example of open innovation concept?

Answer 28

Lego, NASA, P&G

Question 29

What is the Innovation Readiness Gap?

Answer 29

Framework allows companies to access their relative strength on 10 essential factors related to their processes and capabilities

Question 30

What is the PND evolution of the value chain in Garmin?

Answer 30

- Shift from static maps to dynamic maps - Updates/ Expansion of satellite systems

Question 31

What are PND Industry challenges?

Answer 31

Falling Prices, Installation of dashboard systems, Smartphones with mapping capabilities

Question 32

What is the innovation talent wheel?

Answer 32

Illustrates the 10 key traits of effective innovation teams

Question 33

What are the innovation team characteristics?

Answer 33

Networking, Orchestrating, Motivating, Selling, Generating, Uncovering, Pioneering, Absorbing, Deciding, Tabulating

Question 34

What are the EBO Criteria?

Answer 34

Strategic alignment, Cross-IBM leverage, New source of customer value, $1B plus revenge potential, Market Leadership, Sustained Profit

Question 35

How many Horizons are in the Horizons of Growth Model?

Answer 35

3

Question 36

What is Horizon Model 1?

Answer 36

Existing Business Model: Process Innovation

Question 37

What is Horizon Model 2?

Answer 37

New Opportunities via Business Model Innovation

Question 38

What is Horizon Model 3?

Answer 38

New/Disruptive Business Model

Question 39

What kind of business plan is Horizon 1?

Answer 39

Known

Question 40

What kind of business plan is Horizon 2?

Answer 40

Partially known

Question 41

What kind of business plan is Horizon 3?

Answer 41

Unknown

Question 42

What was CNN+?

Answer 42

App that was launched as an add on of CNN

Question 43

What happened to CNN+?

Answer 43

When launched, it did not do as well as it hoped, newly merged Warner Brothers Discovery begins public trading

Question 44

What is the Discovery Driven Planning Process?

Answer 44

Precursor to Lean startup

Question 45

What are the 5 disciplines of the Discovery Driven Planning Process?

Answer 45

1. Definition of success for the plan or initiative, including a "reverse" income statement 2. Benchmarking against market and competitive parameters 3. Specification of operational requirements 4. Documentation of assumptions 5. Specifications of key checkpoints

Question 46

How did Ford do their Structural Reorganization?

Answer 46

Completely changed, said legacy organization had been holding them back.

Question 47

What are some strategic considerations?

Answer 47

Timeline, Customer, Cost/Possible efficiencies, Brand Leverage