Innovation Management Process Quiz
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Questions and Answers

Which type of innovation completely disrupts existing business or economy and creates a new business model?

  • Continuous innovation
  • Sustaining innovation
  • Incremental innovation
  • Radical innovation (correct)

    • What is the type of innovation that exists in the current market and improves existing value networks instead of creating new ones?

  • Evolutionary innovation
  • Sustaining innovation (correct)
  • Disruptive innovation
  • Breakthrough innovation

    • Which innovation type partially disrupts and creates new value networks, but does not completely disrupt existing business models?

  • Incremental innovation
  • Disruptive innovation (correct)
  • Revolutionary innovation
  • Radical innovation

    • What is the Close World Principle related to in the context of innovation?

    <p>Idea generation</p> Signup and view all the answers

    Which theory suggests that technologies and markets are initially uncertain and require learning before they can be fully exploited?

    <p>Disruptive Technology Theory</p> Signup and view all the answers

    During which phase of the idea lifecycle does the application of creative ideas, knowledge, or technology lead to a product or service accepted by markets and society?

    <p>Idea implementation</p> Signup and view all the answers

    What does the Idea Lifecycle involve?

    <p>Testing ideas with a real audience</p> Signup and view all the answers

    Which of the following is a key pillar of Innovation Management related to people and teams?

    <p>Culture</p> Signup and view all the answers

    What is the primary focus of Digital Transformation (DX)?

    <p>Transforming the organization using digital tools</p> Signup and view all the answers

    In the context of Innovation Management, what does Capabilities refer to?

    <p>Methods and abilities of people and teams</p> Signup and view all the answers

    What is the difference between Structures and Capabilities in Innovation Management?

    <p>Structures enable use of capabilities, while capabilities are methods and abilities</p> Signup and view all the answers

    What does the Close World Principle mainly relate to?

    <p>Innovation Management processes</p> Signup and view all the answers

    What is the key difference between digitization and digitalization, based on the text?

    <p>Digitization is the process of extending human capacity, while digitalization involves identifying, evaluating, and exploiting opportunities to create value.</p> Signup and view all the answers

    What is the purpose of a Digital Business Model (BM) Strategy according to the text?

    <p>It defines how a business will compete in a market with its products or services.</p> Signup and view all the answers

    What is a Unique Value Proposition (UVP) based on the text?

    <p>A message that conveys why a business is different and worth paying attention to.</p> Signup and view all the answers

    What does the term 'Early Adopters' refer to in the context of Customer Segments?

    <p>Users who adopt digital technologies before they become mainstream.</p> Signup and view all the answers

    What does 'Revenue Streams' refer to based on the text?

    <p>The sources from which a business generates revenue through its products or services.</p> Signup and view all the answers

    What is the primary focus of Channels in the context of a Digital Business Model?

    <p>Identifying the path through which a business reaches its customers with its offerings.</p> Signup and view all the answers

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