Podcast
Questions and Answers
What is one of the key roles of an effective innovation strategy in an organization?
What is one of the key roles of an effective innovation strategy in an organization?
- Encouraging isolation in innovation activities
- Creating competition among different sections
- Clarifying goals and priorities (correct)
- Maintaining individual goals and priorities
Why must even innovative businesses continue to strategize and innovate?
Why must even innovative businesses continue to strategize and innovate?
- To keep customers engaged over the long term (correct)
- To reduce the need for collaboration
- To maintain a focus on past successes
- To align with short-term goals
What is a recommended approach for businesses to align their priorities with customer needs in product innovation?
What is a recommended approach for businesses to align their priorities with customer needs in product innovation?
- Create a team dedicated to product innovation
- Undertake effective market research (correct)
- Ignore market research and focus solely on technological developments
- Use reactive approaches exclusively in product development
Which activity can help businesses leverage new tools for developing products?
Which activity can help businesses leverage new tools for developing products?
What is emphasized as important regarding prototyping in product development?
What is emphasized as important regarding prototyping in product development?
How can an effective innovation strategy help prevent businesses from priding themselves on past success?
How can an effective innovation strategy help prevent businesses from priding themselves on past success?
What are some drivers for innovation mentioned in the text?
What are some drivers for innovation mentioned in the text?
In developing and emerging economies, what is the basis for the innovation and learning process?
In developing and emerging economies, what is the basis for the innovation and learning process?
What are some potential impacts that drive the innovation process?
What are some potential impacts that drive the innovation process?
What are some challenges firms face that can act as drivers for innovation?
What are some challenges firms face that can act as drivers for innovation?
What can be a consequence of increased competition as a driver for innovation?
What can be a consequence of increased competition as a driver for innovation?
Which factor is NOT mentioned as a driver for innovation in the text?
Which factor is NOT mentioned as a driver for innovation in the text?
According to Gary Hamel, what is one way incumbents need to conduct radical business innovation?
According to Gary Hamel, what is one way incumbents need to conduct radical business innovation?
One reason why small start-ups increasingly depend on large firms is for:
One reason why small start-ups increasingly depend on large firms is for:
Which of the following is NOT listed as a reason why large firms increasingly depend on small start-ups?
Which of the following is NOT listed as a reason why large firms increasingly depend on small start-ups?
What is one of the new developments in innovation that raises new issues and problems?
What is one of the new developments in innovation that raises new issues and problems?
Which of the following is NOT mentioned as a way universities are becoming active drivers of innovation?
Which of the following is NOT mentioned as a way universities are becoming active drivers of innovation?
What does the text suggest about the current market environment?
What does the text suggest about the current market environment?
