Question 1

The goal of a successful strategic experiment is to ultimately become an innovation from which the business derives value.

Accepted Answer

The purpose of a strategic experiment is to test a new idea or approach and see if it has the potential to become an innovation that adds value to the business. If the experiment is successful, it can be scaled up and integrated into the company's overall strategy, leading to long-term growth and success.

Question 2

Strategic visioning occurs within a larger organizational framework of innovation to support an organization's need to reinvent its products and services.

Accepted Answer

False

Question 3

Venture funds are typically used for initiatives that focus on opportunities that can scale.

Accepted Answer

Venture funds are typically used for businesses or initiatives that have the potential to grow rapidly and scale quickly. This includes startups or early-stage companies that are developing innovative products or services with the potential for high returns on investment. Venture funds are not typically used for initiatives that have a limited growth potential or are not likely to provide a significant return on investment.

Question 4

In most firms, strategic experimentation does not occur within a larger organizational framework of innovation.

Accepted Answer

Strategic experimentation often occurs within a larger organizational framework of innovation, as firms seek to innovate and adapt through trial, error, and learning processes.

Question 5

Radical change is primarily viewed as are, risky, and episodic.

Accepted Answer

Radical change is often seen as a significant departure from the status quo, with potentially unforeseeable consequences and outcomes, and is usually not a continuous or ongoing process, but rather a discrete event or series of events.

Question 6

Business innovation infrequently involves experimentation.

Accepted Answer

Business innovation often involves experimentation as companies try new ideas, approaches, and technologies to improve their products, services, and operations. Experimentation can involve testing new products or services, implementing new processes or systems, or introducing new marketing or branding strategies to attract customers. Through experimentation, companies can learn what works and what doesn't, identify potential risks and opportunities, and make data-driven decisions to drive innovation and growth.

Question 7

The governance of venture funds can be instrumental to the business in achieving strategic alignment.

Accepted Answer

Governance structures and processes can ensure that the venture fund's goals and decision-making are aligned with the overall strategy of the business, leading to increased chances of success.

Question 8

The role of IT is bifurcating into separate roles: commodity service and strategic visioning.

Accepted Answer

The answer of The role of IT is bifurcating into...

Question 9

Positive results from a strategic experiment should be viewed as an affirmation to rush an innovation to market but not as justification for further experimentation.

Accepted Answer

Positive results from a strategic experiment indicate potential, but further experimentation is often necessary to refine the innovation, understand its market fit, and identify potential issues before rushing to market.

Question 10

Technological innovation can be devastating to the business unless it creates value perceived by customers.

Accepted Answer

The answer of Technological innovation can be devastating to the...

Question 11

The first step in a strategic IT experiment should be to identify the critical questions that need to be answered then design these questions into the experiment.

Accepted Answer

This is because in order for the experiment to be effective, it needs to be focused and targeted towards answering specific questions or addressing specific problems. Therefore, identifying critical questions is an important first step in designing a strategic IT experiment.

Question 12

Linking strategic experimentation and innovation will lead to customer value.

Accepted Answer

Strategic experimentation involves trying out new ideas and approaches to enhance innovation in an organization. Innovation, in turn, leads to the development of new products, services, and processes that meet customer needs and create value for them. Therefore, linking strategic experimentation and innovation will lead to customer value.

Question 13

The business need to innovate is necessary for long-term organizational survival

Accepted Answer

Innovation helps organizations to adapt to changing market dynamics, stay competitive, and meet the evolving needs of customers. Without innovation, organizations may become stagnant and eventually decline or fail. Therefore, the business need to innovate is necessary for long-term organizational survival.

Question 14

Strategic IT experiments should be manageable and targeted but, at the same time, built so they can scale up easily.

Accepted Answer

Strategic IT experiments should be manageable and targeted in order to ensure a higher chance of success, but they also need to be built in a way that allows for easy scalability if they prove to be successful.

Question 15

Innovation comes about through strategic experimentation as opposed to organizational change.

Accepted Answer

Innovation can result from both strategic experimentation and organizational change, as both approaches can lead to new ideas, processes, or products. Organizational change can create an environment that fosters innovation by altering structures, cultures, or processes to encourage creativity and new thinking.

Question 16

The goal of a strategic experiment is to learn, however, experiments should conclude if nothing useful was learned from the experiment.

Accepted Answer

The goal of a strategic experiment may be to learn, but if nothing useful is learned, the experiment should still conclude as there is no point in continuing with it. This allows resources to be directed towards other experiments that may yield more valuable insights.

Question 17

When organizations commit resources, build infrastructure, articulate procedures, and provide incentives all in an effort to instill a culture of innovation, this collection of activities is called a strategic experiment.

Accepted Answer

The collection of activities described here is actually called an innovation strategy, not a strategic experiment.

Question 18

Innovation comes about through market disruption as opposed to organizational change.

Accepted Answer

Innovation can arise from both market disruption and organizational change. Organizational change can lead to new processes, products, or business models within a company, fostering innovation internally. Market disruption, on the other hand, often involves external forces or new entrants changing industry dynamics, which can also drive innovation.

Question 19

Because IT experimentation deals with technology, it is very hard for IT to be misled by very new and untested technology.

Accepted Answer

IT experimentation can be misled by very new and untested technology because it may not have been thoroughly vetted and could have unforeseen issues or vulnerabilities. It is important for IT professionals to thoroughly test and evaluate new technology before implementing it in their systems.

Question 20

Strategic experiments are enabling conditions offered by IT to support innovation.

Accepted Answer

The answer of Strategic experiments are enabling conditions offered by...

Quiz 10: Strategic Experimentation With IT