Deck 6: Business Innovation

Question 1

In highly competitive buyers' markets companies cannot afford to be diverted by innovation

Answer 1

False

Question 2

Innovation is about the development of new products not new operating practices

Answer 2

False

Question 3

Porter argues that firms can pursue three different generic strategies

Answer 3

True

Question 4

Tellis found that innovation champions have three basic characteristics

Question 5

There are four levels of innovation

Question 6

Closed sources are the main ways of originating and developing innovations

Question 7

It is now accepted that networking with other firms and organisations is the best way to practice innovation

Question 8

The innovation process has three phases

Question 9

Selecting innovative ideas with promise can be aided by applying selection models such as the Idea Funnel and Stage- Gate review.

Question 10

Knowledge transfer (KT) is a potent method of boosting open- innovation activity

Question 11

Hard systems thinking is the only professional approach to solving business problems

Question 12

Innovation bottlenecks are largely the result of conservative attitudes