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Innovation Chapter 5: Rapid Experimentation and Value Addition

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Innovation Chapter 5: Rapid Experimentation and Value Addition

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Questions and Answers

What is the primary purpose of using the tool described in the text?

To defend the past business from competitors
To identify new opportunities to create value for customers (correct)
To focus on current customer relationships
To analyze customer feedback

What is the first step in the process described in the text?

Identify emerging threats
Identify key customer types by value received (correct)
Analyze new technologies
Define current value for each customer

What is the purpose of listing value elements in Step 2?

To identify key customer types
To summarize the value proposition
To identify emerging threats
To define current value for each customer (correct)

What is the result of Step 2 in the process?

A summary statement of the value proposition (A) Signup and view all the answers

What is the purpose of identifying emerging threats in the process?

To understand the potential factors that might determine the current value proposition (B) Signup and view all the answers

Which of the following is NOT a source of potential threats to the current value proposition?

Current customer relationships (D) Signup and view all the answers

What is the outcome of using the tool described in the text?

A new perspective on the business from the customer's point of view (A) Signup and view all the answers

What is the purpose of identifying key customer types?

To understand the different kinds of value they receive from the business (B) Signup and view all the answers

What is the relationship between the customer's perspective and the tool described in the text?

The tool is used to imagine new ways forward from the customer's perspective (D) Signup and view all the answers

What is the ultimate goal of the process described in the text?

To create value for customers (C) Signup and view all the answers