Question 1

In the presence of discontinuous change it is crucial to address the now before the how

Accepted Answer

When faced with discontinuous change, it is important to address the present situation and understand the current state of things before trying to figure out how to move forward. This approach allows for a better understanding of the situation and a more effective planning process.

Question 2

This text features a thirteen step model to guide organisations to build a climate and culture that is supportive of successful strategic innovation management.

Accepted Answer

The text explicitly states that it features a thirteen step model to guide organisations to build a climate and culture that is supportive of successful strategic innovation management. Therefore, the statement is true.

Question 3

Conventional approaches to strategy lack a cutting edge.

Accepted Answer

Conventional approaches to strategy are seen as outdated and unable to keep up with the rapidly changing business environment. Newer, more agile approaches are needed to stay competitive.

Question 4

The thirteen step model posits that there are five key stages to the strategic management process

Accepted Answer

The thirteen step model posits that there are, logically, thirteen key steps to the strategic management process, not five.

Question 5

Strategy seeks answers to three basic questions that define a business

Accepted Answer

Strategy does seek answers to three basic questions that define a business, which are "What is our business?", "Who is our customer?", and "What does the customer value?".

Question 6

Approaching strategic innovation involves attention to five critical actions

Accepted Answer

This is true. Strategic innovation requires attention to five critical actions: identifying opportunities, generating ideas, selecting and prioritizing ideas, implementing and executing ideas, and capturing value.

Question 7

An organisational strategic innovation structure blends culture, structure, process, systems and people with strong management and leadership

Accepted Answer

An organisational strategic innovation structure incorporates all of these components, including culture, structure, process, systems, and people, in order to facilitate innovation and achieve strategic goals. Effective management and leadership are also critical components of such a structure.

Question 8

In summary there are four factors that distinguish a sound innovation strategy

Accepted Answer

There are typically more than four factors that can distinguish a sound innovation strategy, such as alignment with business goals, customer focus, resource allocation, and adaptability, among others.

Question 9

Benchmarking other organisations is a guarantee of success

Accepted Answer

Benchmarking other organizations can provide insights and ideas but it is not a guarantee of success. Factors such as differences in industry, company culture, resources, and customer base can impact the success of implementing ideas from other organizations. It is important to adapt and tailor practices to fit the specific needs and goals of the organization.

Question 10

A disciplined holistic rather than ad hoc approach focusing on three people-management fundamentals is essential to build a successful innovative organisation

Accepted Answer

A disciplined holistic approach that focuses on three key people-management fundamentals (recruitment and selection, training and development, and performance management) is essential for building a successful innovative organization. This approach ensures that the organization has the right people in the right roles, that they are continuously developing their skills and capabilities, and that their performance is aligned with the organization's goals and objectives. This holistic approach avoids ad hoc approaches that may only focus on one or two of these fundamentals, leading to suboptimal results in terms of organizational innovation and competitiveness.

Question 11

There are four key issues of intent that organisations should address

Accepted Answer

There are three key issues of intent that organizations should address: strategic intent, financial intent, and social intent.

Question 12

There are three essential questions and one challenge acceptance for executives who want to create and implement an innovation strategy

Accepted Answer

This is true, as outlined in many innovation strategy frameworks and literature. The three essential questions typically revolve around identifying the company's core competencies, market needs and trends, and potential sources of innovation. The challenge acceptance refers to the need for executives to embrace and overcome the obstacles and risks associated with innovation.

Quiz 10: Building a Strategic Managing Innovation Model