Tema 4 Models and tools for innovation management
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Questions and Answers

What is the primary focus of the Financial Perspective in innovation scorecards?

  • Optimizing internal business processes for efficiency
  • Enhancing customer satisfaction through R&D outputs
  • Ensuring R&D investments lead to financial performance (correct)
  • Increasing team capacity for innovation
  • What does the Learning and Growth Perspective aim to achieve?

  • Optimize processes for product development
  • Ensure customer needs are met effectively
  • Enhance the R&D team's capacity for innovation (correct)
  • Increase market share of innovative products
  • Which model emphasizes the importance of feedback loops between phases?

  • Open innovation model
  • Community of Practice model
  • R&D 'as a Lab' Model (correct)
  • Dynamic capabilities model
  • What does the SECI model specifically combine with knowledge management?

    <p>Socialization and dimensions of knowledge (B)</p> Signup and view all the answers

    What key process does the Dynamic capabilities model focus on?

    <p>Adapting and evolving business strategies (D)</p> Signup and view all the answers

    In the context of innovation, what does the term 'Community of Practice' refer to?

    <p>A group sharing knowledge to improve skills in a specific area (C)</p> Signup and view all the answers

    Which phase involves writing reports, memories, or databases in the SECI model?

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

    What does the Open innovation model include beyond inbound innovation?

    <p>Outbound innovation to society (A)</p> Signup and view all the answers

    Flashcards

    Innovation Scorecard

    Performance measurement tool for R&D, using financial, customer, process, and learning perspectives to assess and improve R&D activities.

    R&D "as a Lab" Model

    R&D model with clear separation of inputs and outputs, emphasizing continuous feedback between phases for improvement.

    Dynamic Capabilities

    The ability of an organization to adapt effectively, combining resources and capabilities to exploit new opportunities.

    Open Innovation Model

    Idea exchange model that encourages collaboration and knowledge sharing, both internally and externally. It can involve acquiring knowledge from external sources and sharing internal ideas with the broader community.

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    SECI Model

    A framework of knowledge creation that involves four phases: Socialization (sharing tacit knowledge), Externalization (converting tacit knowledge into explicit knowledge), Combination (combining explicit knowledge), and Internalization (making explicit knowledge tacit, through practice).

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    Community of Practice

    A group of people who share common interests, knowledge, and practices, collaborating to improve their expertise in a specific field.

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    R&D Lab Approach

    A specific approach to innovation where R&D is treated as a laboratory for experimentation, continuous improvement, and feedback loops.

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    Ordinary Capabilities

    This focuses on achieving improvements in efficiency and effectiveness by doing the same thing but in a better way. These capabilities focus on refining existing procedures and processes.

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    Study Notes

    Innovation Scorecards/Reports

    • Provide a comprehensive view of the innovation situation.
    • Evaluate innovation from various perspectives:
      • Financial: Measures R&D ROI, break-even time.
      • Customer: Assesses customer satisfaction with innovative products, market share.
      • Internal Processes: Focuses on efficiency of R&D processes, like product development cycle time, transfer of technology.
      • Learning & Growth: Emphasizes the development of R&D team skills, employee training, filed patents.

    R&D "as a Lab" Model

    • Structures R&D work with a clear framework.
    • Emphasizes feedback loops between different phases.

    Dynamic Capabilities Model

    • Ordinary capabilities: Improving existing processes.
    • Dynamic capabilities: Adapting to changes.
      • Example (iPod): Sensing opportunity (new user-friendly item), seizing (UI development), transforming (Windows compatibility) yielding positive results.

    Open Innovation Model

    • Focuses on both inward and outward innovation (societal impact).

    SECI Model

    • A knowledge creation model.
    • Four stages:
      • Socialization: Sharing knowledge informally (e.g., interactions between marketing and sales).
      • Externalization: Translating tacit knowledge to explicit knowledge (e.g., creating reports, databases).
      • Combination: Combining different explicit knowledge sources (e.g., merging reports, creating manuals).
      • Internalization: Applying combined knowledge to practical use in daily work.

    Community of Practice (CoP) Model

    • Helps people collaborate and learn within a specific area.
    • Knowledge sharing is a key aspect.
    • Examples include forums, repositories, and platforms like GitHub.

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    Description

    Explore various models and metrics used to evaluate innovation within organizations. This quiz covers innovation scorecards, R&D frameworks, dynamic capabilities, and open innovation strategies. Test your knowledge on how these concepts drive success in research and development.

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