Deck 11: Effective Innovation Plans

Question 1

An effective innovation plan does not need to include a marketing plan.

Answer 1

False

Question 2

A comprehensive innovation plan is not necessary for existing organizations.

Answer 2

False

Question 3

Bankers stress the financial aspects of the plan and place little emphasis on market, innovator or other issues.

Answer 3

True

Question 4

There are ten components of an innovation plan.

Question 5

The action planning and implementation phases of an innovation plan are often the most manageable.

Question 6

A well done force field analysis will allow you to align the critical resources necessary for the success of the project.

Question 7

The last step in innovation action planning is to identify a group who also has an interest in improving your workgroup.

Question 8

The assessment tool can help you and your I- Team self-evaluate the innovation plan before it is submitted to senior executives.

Question 9

Entrepreneurs and innovators are often so in love with their ideas that they can't understand why everyone is not begging to help them put the idea into action.

Question 10

The Description of the Innovation is the most important section of your innovation plan because it has to convince the reader that the innovation will succeed

Question 11

A process that allows ventures to stay on track through preparation, expectation, and dedication to the objective.

A) Development
B) Improvement
C) Planning
D) Organizing

Question 12

What is one of the most important qualities an innovation must have for the purpose of the readers?

A) Complete
B) Methodized
C) Powerful
D) Comprehensive

Question 13

The written document that details the proposed innovation and its commercial potential as a venture.

A) Innovative approach
B) Development strategy
C) Solution proposal
D) Innovation plan

Question 14

According to the test, a successful innovation plan consist of how many components?

A) 10
B) 5
C) 11
D) 7

Question 15

What section should provide background information about your industry, a general report of your innovative concept, and the specific mission that you are trying to achieve?

A) Operations segment
B) Description of the innovation
C) Executive summary
D) Harvest strategy

Question 16

No admission of possible road blocks and no contingency or alternative plans is an indicator of what type of pitfall?

A) No Commitment
B) Failure to Anticipate Issues
C) No Market Niche
D) No Realistic Goals

Question 17

What offers entrepreneurs an opportunity to self-evaluate the innovation plan as it is developed?

A) Essential, additive, obstreperous
B) Improvement plan appraisal
C) Innovation plan assessment
D) None of the above

Question 18

The process of taking good ideas and breaking them into manageable steps that can be accomplished and measured.

A) Action planning
B) Brainstorming
C) Innovation development
D) Activity planning

Question 19

________________ are all actions that relate to one another in some way.

A) Action groups
B) Innovation sets
C) Action clusters
D) Engagement groups

Question 20

_____________ is the segment of planning that includes selling the business, going public and offering stock, or merging with another business.

A) Milestone schedule
B) Executive Summary
C) Marketing plan
D) Harvest Strategy

Question 21

Discuss the common pitfalls in planning discussed in the text. What are their indicators and possible solutions to overcome them?

Question 22

List and describes the ten segments that make up a complete and organized innovation plan.

Question 23

List and discuss the important of the ten key questions to consider when you are writing and revising an innovation plan masterpiece

Question 24

The last critical step in any innovation plan is action planning. Discuss why this step is so important.