Disruptive Innovation Quiz

<p>11-12 points = 3.0 (D)</p> Signup and view all the answers

<p>16 (D)</p> Signup and view all the answers

<p>4.5 (C)</p> Signup and view all the answers

<p>The Innovator’s Dilemma (A)</p> Signup and view all the answers

<p>Max McKeown (B)</p> Signup and view all the answers

<p>It must be new (B)</p> Signup and view all the answers

<p>The execution of the idea (B)</p> Signup and view all the answers

<p>A purpose to solve a problem or meet a need (D)</p> Signup and view all the answers

<p>Creative Idea (A)</p> Signup and view all the answers

<p>Done + New (D)</p> Signup and view all the answers

<p>To highlight its novelty in a specific setting (D)</p> Signup and view all the answers

<p>It may be a step towards innovation but not fully classified as such (D)</p> Signup and view all the answers

<p>A novel marketing plan that fails (D)</p> Signup and view all the answers

<p>Ideation (C)</p> Signup and view all the answers

<p>Making employees feel valued (C)</p> Signup and view all the answers

<p>Testing assumptions in real life (C)</p> Signup and view all the answers

<p>Focus solely on management hierarchy (B)</p> Signup and view all the answers

<p>Creating prototypes (D)</p> Signup and view all the answers

<p>Clear vision and strategy understood by all (B)</p> Signup and view all the answers

<p>Business goals achievement (C)</p> Signup and view all the answers

<p>Facilitating the organization of innovation processes (B)</p> Signup and view all the answers

<p>To quickly test and validate different aspects of the business model (C)</p> Signup and view all the answers

<p>Embracing agile methodologies (B)</p> Signup and view all the answers

<p>They can share diverse perspectives and identify emerging trends (C)</p> Signup and view all the answers

<p>Aligning the model with organizational goals and capabilities (C)</p> Signup and view all the answers

<p>By providing streaming services that replaced physical rentals (A)</p> Signup and view all the answers

<p>To identify opportunities for refinement and adaptation (A)</p> Signup and view all the answers

<p>Direct connection between drivers and passengers (D)</p> Signup and view all the answers

<p>Market analyses (D)</p> Signup and view all the answers

<p>Harnessing the abilities and insights of individuals and teams (D)</p> Signup and view all the answers

<p>Radical innovation creates new technology and markets. (B)</p> Signup and view all the answers

<p>It offers unique and affordable lodging options for travelers. (D)</p> Signup and view all the answers

<p>Starting with small experiments and testing assumptions (D)</p> Signup and view all the answers

<p>Innovation involves the successful market delivery of an idea. (C)</p> Signup and view all the answers

<p>By introducing the concept of reusable rockets. (D)</p> Signup and view all the answers

<p>Creativity involves generating new and original ideas. (D)</p> Signup and view all the answers

<p>A market innovation that revolutionizes traditional practices. (D)</p> Signup and view all the answers

<p>It often leads to high degrees of uncertainty. (D)</p> Signup and view all the answers

<p>It encourages curiosity, collaboration, and experimentation. (D)</p> Signup and view all the answers

<p>Challenging traditional taxi service regulations and operations. (A)</p> Signup and view all the answers

<p>To set the vision and enable an empowering environment. (C)</p> Signup and view all the answers

<p>Reliance exclusively on advanced technologies. (A)</p> Signup and view all the answers

<p>Digitization only enhances existing processes without guaranteeing innovation. (C)</p> Signup and view all the answers

<p>To facilitate continuous improvement and adaptation. (A)</p> Signup and view all the answers

<p>Invention and innovation are entirely synonymous. (A)</p> Signup and view all the answers

The Oslo Manual is a guide for collecting, reporting and using data on innovation. It provides standardized methods for understanding and measuring innovation across different sectors and countries.

Innovation management refers to the processes, strategies, and tools used to create, develop, and implement new ideas and solutions within an organization.

A disruptive innovation is a new product or service that challenges and eventually replaces existing market leaders. It often targets a new market segment or customer group.

Blue ocean strategy involves creating uncontested market space by offering new value propositions that are different from the competition. It aims to create a new market and avoid direct competition.

The Innovation Book explains how to manage ideas and execution for outstanding results. It emphasizes the importance of both creativity and effective implementation.

Reinventing Organizations describes a new model of organization inspired by a higher stage of human consciousness. It encourages collaboration, self-management, and purpose-driven work.

Business Model Generation provides a framework for creating and testing new business models. It helps entrepreneurs and businesses design, visualize, and implement innovative solutions.

Dual Transformation focuses on how companies can reposition their existing business while simultaneously creating a new future. It emphasizes the need to manage both the present and the future effectively.

Innovation is a new idea put into action that adds value.

The idea must be new in the specific context where it is applied. Something common in one field might be new in another.

An idea is only innovative once it's been put into action. Simply having an idea isn't enough.

The innovation must solve a problem, fulfill a need, or satisfy a desire. It must have a clear purpose.

A new and implemented idea, but without a clear purpose or value addition, it's just novelty.

A new idea with a clear purpose and value, but not yet implemented, is just a creative idea.

Having two out of the three factors (new, done, value add) is not enough for innovation.

The process of creating something new to solve a problem, and successfully bringing it to the market.

The ability to generate original ideas, challenge assumptions, and connect seemingly unrelated concepts.

The process of implementing and executing creative ideas to achieve a desired outcome.

Simply using technology without significant change to the core process or product.

An organizational culture that encourages risk-taking, experimentation, and collaboration, leading to innovative ideas and solutions.

Leaders who set a vision, provide guidance and resources, and empower their team to drive innovation.

Continuous improvement through feedback from customers, users, and market trends.

The ability to think differently, challenge assumptions, and combine ideas to come up with new solutions.

Collecting feedback and iterating based on results is crucial. Small experiments help validate ideas before investing heavily.

Stay flexible and adapt quickly to changing market conditions. Embrace rapid changes rather than being rigid.

Seek inspiration beyond your company. Customers, experts, and academics offer valuable perspectives.

Create prototypes to test your ideas with real users. Get early feedback and refine before full-scale development.

Protect your unique innovations legally. Patents, trademarks, and copyrights can safeguard your business model.

Ensure your business model can scale as you grow. Consider long-term goals and resource requirements.

Continuously monitor market trends and customer feedback. Be prepared to adapt your business model as needed.

Innovation management involves all the activities needed to introduce new ideas, from brainstorming to implementation and execution.

A structured process that encourages employees to generate ideas, evaluate them, create prototypes, implement them, and ultimately assess the impact of the implemented ideas.

A culture that values and promotes new ideas, encourages risk-taking, and fosters an environment where employees feel comfortable sharing their thoughts and suggestions.

The phase where ideas are generated and brought to the table. This stage often involves brainstorming sessions, workshops, and idea contests.

This step involves evaluating all the generated ideas, selecting the most promising ones, and making decisions about which ones to move forward with.

Creating working models or prototypes based on the selected ideas. This allows for testing and refining the concept before full-scale implementation.

Putting the chosen innovation into practice. This involves deploying the solution within the company or the market.

Analyzing the results of the implemented innovation to assess its effectiveness, identify areas for improvement, and learn lessons for future innovation initiatives.

A methodology that emphasizes speed, experimentation, and learning from customer feedback in developing and launching new products or services.

Uber, a ride-sharing app, challenged the traditional taxi industry by directly connecting drivers and passengers, offering a more convenient and flexible option. Airbnb, a home-sharing platform, disrupted the hospitality industry by offering unique and often more affordable alternatives to hotels.

It involves creating entirely new markets with entirely new technologies. It is disruptive, high-risk, and potentially leads to significant change within a field.

SpaceX's reusable rockets revolutionized space exploration by making it more affordable and accessible. Traditional rockets were discarded after a single use, making space travel very expensive. Reusable rockets make it possible to travel into space more frequently and affordably.

It is a type of innovation where companies introduce new solutions or products that improve existing ones or address specific customer needs without fundamentally changing the industry or market.

Apple's iPhone, while a breakthrough in its time, was built on existing technologies like touchscreen displays and mobile internet access, but it combined them in a way that revolutionized the way we use phones.

It involves leveraging existing technologies and processes to improve efficiency, reduce costs, or enhance product quality. It aims to improve existing offerings within established markets.

Toyota introduced the Toyota Production System (TPS), which focused on continuous improvement, minimizing waste, and maximizing efficiency. It was a significant innovation in manufacturing by applying existing principles and tools in a new way.