Question 1

Which of the following would NOT be a good measure of innovation performance?&#10;A)Number of new ideas (product/ service/ process) generated at start of innovation system&#10;B)Number or percentage of overruns on development time and cost budgets&#10;C)Level of employer contribution to employee pension&#10;D)Development man-hours per completed innovation

Accepted Answer

The level of employer contribution to employee pension is not directly related to innovation performance and is therefore not a good measure. The other options are all indicators of innovation performance and can provide valuable insights.

Question 2

Which of the following would you NOT expect to hear people saying in an innovative organization?&#10;A)There is top management commitment and support for innovation&#10;B)There is a clear link between the innovation projects we carry out and the overall strategy of the business&#10;C)If innovation happens round here, it's a lucky accident not a planned activity&#10;D)We have processes in place to help us manage new product development effectively from idea to launch

Accepted Answer

An innovative organization would not have the attitude that innovation is a lucky accident. They would actively promote and plan for innovation.

Question 3

Benchmarking can only be used to compare between firms of the same size and working in the&#10;same sector.

Accepted Answer

Benchmarking can be used to compare between firms of different sizes and working in different sectors. However, it is important to identify the relevant benchmarking partners that have similar processes or outcomes.

Question 4

Which of the following would you NOT expect to hear in an innovative organization?&#10;A)We don't believe in talking to customers - they only make our life difficult&#10;B)We are good at understanding the needs of our customers/end-users&#10;C)We work well with universities and other research centres to help us develop our knowledge&#10;D)We collaborate with other firms to develop new products or processes

Accepted Answer

A culture of not valuing customer feedback or input is not conducive to innovation. Innovation is often driven by identifying and solving customer problems or needs. A lack of collaboration and open-mindedness would also be counterproductive to innovation, which is why options B, C, and D are all expected in an innovative organization.

Question 5

Which of the following would you NOT expect to hear in a successful innovating company?&#10;A)We have good 'win-win' relationships with our suppliers and we pick up a steady stream of ideas from them&#10;B)We look ahead in a structured way (using forecasting tools and techniques) to try and imagine future threats and opportunities&#10;C)We work closely with 'lead users' to develop innovative new products and services&#10;D)All of the above

Accepted Answer

All of the above are characteristics of a successful innovating company, so none of them should be excluded.

Question 6

Which of these statements might you NOT expect people to make in an innovative organization?&#10;A)We have a supportive climate for new ideas - people don't have to leave the organization to make them happen&#10;B)We encourage people in this department to keep themselves to themselves - that way we keep control&#10;C)People work well together across departmental boundaries&#10;D)Our reward and recognition system supports innovation

Accepted Answer

Innovation requires collaboration and breaking down silos, so it would be unlikely for a truly innovative organization to encourage people to keep to themselves and maintain control.

Question 7

Innovation can't take place in public sector services because they don't have to make a profit.

Accepted Answer

Innovation can take place in public sector services even if they don't have to make a profit. Government agencies and organizations can still benefit from improved services, cost savings, and better outcomes for citizens. In fact, many public sector innovations have been driven by a desire to provide better services or address societal challenges, rather than a profit motive.

Question 8

An organization might use a 'stage gate' system for innovation development in order to&#8230;&#10;A)provide common rules of the game for product development within Coloplast&#10;B)make clear decisions at the right moment&#10;C)clarify responsibility for different asepcts of the project&#10;D)All of the above

Accepted Answer

A stage gate system provides a structured approach to product development, with a set of common rules that apply to all projects. It also enables clear decision-making at key stages in the process, and assigns responsibility for different aspects of the project to different individuals or teams. Therefore, all of the above choices are correct.

Question 9

Innovation success is directly related to R&D (research and development) spending&#10;- the more you spend, the more innovations you get.

Accepted Answer

While R&D spending can certainly contribute to innovation success, there are many other factors that also play a role, such as company culture, leadership, and market demand. It is possible for a company with a smaller R&D budget to still have significant innovation success if they focus on these other factors. Likewise, a company with a large R&D budget may not necessarily experience innovation success if they lack these other important components.

Question 10

Which of the following would you NOT expect to hear people saying about an innovative organization?&#10;A)Our organization structure does not stifle innovation but helps it to happen&#10;B)There is a strong commitment to training and development of people&#10;C)Our reward and recognition system supports innovation&#10;D)Suggesting changes or improvements is frowned upon

Accepted Answer

If an organization is innovative, it is expected that suggesting changes or improvements is not only accepted but encouraged. Therefore, hearing that it is frowned upon would be contradictory to an innovative culture.

Question 11

A bubble chart is:&#10;A)A graphical method for comparing risks and rewards in different innovation projects&#10;B)A reference table for soap manufacturing&#10;C)A graph showing the rate of inflation in high risk businesses - such as 'dotcom' ventures&#10;D)None of the above

Accepted Answer

The answer of A bubble chart is:&#10;A)A graphical method for...

Question 12

Which of the following approaches can assist with effective change management?&#10;A)A clear change management strategy at top level&#10;B)Early involvement&#10;C)Create an open climate, in which individual anxieties and concerns can be expressed&#10;D)All of the above

Accepted Answer

The answer of Which of the following approaches can assist...

Question 13

Patents are the best way to measure innovation.

Accepted Answer

The answer of Patents are the best way to measure...

Question 14

Which of the following is often associated with innovation success?&#10;A)Understanding user needs&#10;B)Good project management skills&#10;C)Regular review of progress against clear stop/go criteria for the project&#10;D)All of the above

Accepted Answer

The answer of Which of the following is often associated...

Question 15

Successful innovation always depends on getting wild ideas from people working in a 'skunk works' environment.

Accepted Answer

The answer of Successful innovation always depends on getting wild...

Question 16

Innovation requires a formal investment in R&D.

Accepted Answer

The answer of Innovation requires a formal investment in R&D....

Question 17

A Delphi panel is&#10;A)an architectural feature of ancient Greek temples&#10;B)a method for exploring possible futures by combining expert predictions&#10;C)a group of venture capitalists&#10;D)a special type of car door

Accepted Answer

The answer of A Delphi panel is&#10;A)an architectural feature of...

Deck 17: Learning to Manage Innovation and Entrepreneurship