Innovation Management Quiz

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What is innovation?

The profitable implementation of new ideas

Why should companies innovate?

To gain competitive advantage

What are the drawbacks of innovation?

Disturbs both operations and logistics

What are the critical factors for innovation process design?

<p>Innovation strategy, organisational structure, process and project management, 'Design &amp; Engineering' methodologies, supporting technologies</p> Signup and view all the answers

What can innovation refer to?

<p>Market, service, process, product, value, business model, etc.</p> Signup and view all the answers

What is the primary goal of innovation?

<p>Create value and gain competitive advantage</p> Signup and view all the answers

What are the key factors for innovation process design?

<p>Innovation strategy, organizational structure, and process management</p> Signup and view all the answers

What are the potential drawbacks of innovation?

<p>Disturbs both operations and logistics, costly, and risky</p> Signup and view all the answers

What does innovation refer to?

<p>Market, service, process, product, value, and business model</p> Signup and view all the answers

What should the innovation process be in order to be effective?

<p>Continuous, seamless, efficient, and correctly designed beforehand</p> Signup and view all the answers

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