The Innovator's Method" Quiz

The Innovator's Method: Managing Uncertainty and Leading Innovation

Chapter 1:

• The Innovation Premium is the stock price premium paid by investors due to expectations of future growth through innovation.
• Start-ups lose the ability to create a customer when execution becomes the highest priority as they grow large.
• Two types of uncertainty influence a firm's ability to create a customer - demand uncertainty and technological uncertainty.
• Intuit's transformation through the Design for Delight (D4D) initiative included gaining deep customer empathy, going broad to go narrow, and experimenting rapidly with customers.
• The Innovator's Method consists of four steps: insight, problem, solution, and business model.
• Pain-storming is used to identify the main pain points and emotions of a customer's journey line.
• Four prototypes are used to converge on the solution best solving the job-to-be-done (JTBD).
• The Innovator's Method works for both external and internal customers.

Chapter 2:

• Taylor's principles of scientific management work well for efficiently performing tasks to sustain a customer but not to create a customer.
• Specialization works well in low uncertainty but not high uncertainty.
• The leader must become the chief experimenter, set the grand challenge, build broad and deep expertise in the innovator's method, and remove barriers to change.
• The chief experimenter focuses on forming leap-of-faith assumptions, rapidly testing those assumptions through experiments, and enabling decisions to be made by the best idea validated in the market.
• Chief experimenters differ from decision-making managers as they focus on testing assumptions through experiments.