Chapter 13: Self Test

Chapter 13: Self Test

		Part of the search question is about picking up rather weak signals about emerging – and sometimes radically different – triggers for innovation. Which of the following statements describes a forward looking innovative firm? (Several choices may be correct.)


				We deploy ‘probe and learn’ approaches to explore new directions in technologies and markets
				We have mechanisms to bring in fresh perspectives – for example, recruiting from outside the industry
				We work with ‘fringe’ users and very early adopters to develop our new products and services
				We rely on tried and tested approaches to understanding the market
				We discourage people from attending conferences since it distracts them from their core productive activity
				We have active links into long-term research and technology community – we can list a wide range of contacts

		Organizations need to build capability to manage innovation by active learning approaches. Which of the following would you associate with such capability-building? (Several choices may be correct.)


				We take time to review our projects to improve our performance next time
				We learn from our mistakes
				We systematically compare our products and processes with other firms
				We never go over old mistakes - what's done is done, you just have to move on
				We meet and share experiences with other firms to help us learn
				We are good at capturing what we have learned so that others in the organization can make use of it

		Portfolio management is:


				a sophisticated filing system for the office?
				a way of balancing a spread of high, medium and low risk innovation projects?
				a tool for managing stocks and shares?
				a staff training scheme?

		Which of the following is NOT a consequence of a lack of portfolio management in new product development?


				High failure rates, or success of unimportant projects and opportunity cost against more important projects
				Weak decision criteria - too many ‘average’ projects selected, little impact downstream in market
				Key researchers leave because of poor financial rewards
				Resource starvation and impacts on time and cost – overruns

		Innovation success is directly related to firm size - the bigger the firm, the higher the probability of innovation success.


				True
				False

		A stage gate system is: (Several choices may be correct.)


				an approach to project management in new product development
				a physical door or other barrier between secret and non-secret R&D facilities
				a fast lane ticketing system for airlines
				a marketing tool for new products or services

		Stratgeic leadership is a key influence on innovation success. Which of the following statements might suggest an organization has such leadership? (Several choices may be correct.)


				Our top team have a shared vision of how the company will develop through innovation
				Our innovation strategy is clearly communicated so everyone knows the targets for improvement
				Senior management are on performance-related pay
				Management create ‘stretch goals’ that provide the direction but not the route for innovation
				People in the organization know what our distinctive competence is - what gives us a competitive edge

		Which of the following is NOT associated with successful implementation of innovation projects?


				Systematic process for progressing new products
				Early involvement of all relevant functions
				Cross-functional team working
				High salaries for R&D directors

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