Innovation Management Chapter 8: Open Innovation
30 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is one of the main reasons why firms need to adopt an open innovation strategy?

  • To become a closed innovation firm
  • To access external knowledge and capabilities (correct)
  • To increase the drop-out rate of R&D projects
  • To reduce the cost of innovation

    • What is the main difference between open innovation and closed innovation?

  • The number of R&D projects undertaken
  • The size of the R&D team
  • The level of technology used
  • The use of internal vs. external knowledge (correct)

    • Why do firms need to open their doors to external ideas?

  • To reduce the cost of innovation
  • To become a closed innovation firm
  • To increase the drop-out rate of R&D projects
  • To improve their innovation process (correct)

    • What is the main challenge of generating new ideas in R&D projects?

    <p>Generating a high rate of good ideas</p> Signup and view all the answers

    What is the main goal of collaboration in open innovation?

    <p>To reach common goals</p> Signup and view all the answers

    What is the main advantage of using external knowledge in innovation?

    <p>It leads to better outcomes</p> Signup and view all the answers

    What is the primary goal of a strategic alliance between two firms?

    <p>To achieve mutual goals such as product development and market access</p> Signup and view all the answers

    What is the main characteristic of a joint venture?

    <p>It creates a new legal entity to achieve mutual goals</p> Signup and view all the answers

    What is innovation outsourcing?

    <p>Delegating the idea generation to other firms with high expertise or low cost</p> Signup and view all the answers

    What is an example of co-creation?

    <p>Ikea asking customers to help propose new furniture concepts</p> Signup and view all the answers

    What is the main focus of incubators?

    <p>Supporting external ideas and transforming them into small firms</p> Signup and view all the answers

    What is the main difference between incubators and accelerators?

    <p>Incubators focus on early-phase startups, while accelerators focus on speeding up market growth of existing businesses</p> Signup and view all the answers

    What is the primary purpose of Open Innovation Challenges?

    <p>To generate creative ideas from a global or local community</p> Signup and view all the answers

    What is a crucial aspect of managing Open Innovation activities?

    <p>Having clear goals and communications</p> Signup and view all the answers

    Why is it essential to have a method for ranking ideas in Open Innovation?

    <p>To define the most promising ideas to develop</p> Signup and view all the answers

    What is the first step in running an Open Innovation Challenge?

    <p>Define the innovation goals for the business</p> Signup and view all the answers

    What is an essential aspect of the challenge details?

    <p>The title of the challenge</p> Signup and view all the answers

    What is a challenge related to intellectual property rights in Open Innovation?

    <p>It is hard to know the origin of all ideas or if they are stolen</p> Signup and view all the answers

    What is a potential issue with Open Innovation if not managed properly?

    <p>Unclear goals</p> Signup and view all the answers

    Why is it crucial to carefully craft the OI agreement with external participants?

    <p>To define the idea's ownership and prevent challenging situations</p> Signup and view all the answers

    What is a key factor in engaging talented participants in Open Innovation?

    <p>Rewarding and recognizing good ideas</p> Signup and view all the answers

    What is the purpose of supporting documents and images in the challenge details?

    <p>To give clear instructions about how to participate in the challenge</p> Signup and view all the answers

    What is the purpose of the Innovation Funnel in Open Innovation?

    <p>To define the most promising ideas to develop</p> Signup and view all the answers

    What is an option for running an Open Innovation Challenge?

    <p>Using innovation management software</p> Signup and view all the answers

    What is the main purpose of technology transfer?

    <p>To apply technology to a new use or user</p> Signup and view all the answers

    What is an example of a model of technology transfer?

    <p>Licensing model</p> Signup and view all the answers

    What is a benefit of open innovation?

    <p>It can significantly speed up the innovation process</p> Signup and view all the answers

    What is a challenge of open innovation?

    <p>It can lead to challenges if the process is not managed effectively</p> Signup and view all the answers

    What is the 4A framework used for?

    <p>To explore the processes involved in inward technology transfer</p> Signup and view all the answers

    What is the main characteristic of technology transfer?

    <p>It involves the application of technology to a new use or user</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser