Innovation

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Marco Kofel

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Marco Kofel

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This flashcard set delves into the principles of innovation at a university level, focusing on key concepts like statements, ideas, and products. It explores the reasons behind successful innovations, the importance of customer reactions, and the role of creative sessions and techniques. The set is particularly useful for students and professionals in micro-economics who want to understand the criteria for idea screening, the impact of megatrends, and the rules governing creative processes. It also highlights the significance of ROI and the Not-Invented-Here syndrome in fostering innovation.

Karten

Lernende

Sprache

Englisch

Kategorie

BWL

Stufe

Universität

Erstellt / Aktualisiert

25.01.2022 / 29.01.2022

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Please mark the statement which is correct:

Innovation is based on creativity. Thus, it cannot be generated systematically.

Innovation shall focus on making customers more successful.

The most successful way of Innovation is to continuously improve existing products because the customers are already familiar with them.

It is for sure that inventions that were made accidentally will be less successful than inventions developed systematically.

Please mark the statement which is correct:

The conception of a new solution is an invention and thus not part of an innovation.

An innovation has to be new to the world.

The question, whether an idea is an innovation or not can be answered by checking the technological state of the art before rolling out the idea.

An invention which is launched to the market and turns out to be successful can be considered as an innovation.

Please mark the statement which is false:

Systematic observation of customers may be a valuable source for innovative ideas.

There are studies stating that most of the ideas generated within the company are generated in workshops, where creativity techniques are applied.

For the generation of ideas it is helpful to be incubated from outside. This is the reason why many ideas arise outside the company.

You never can plan the point of time when people generate good ideas. The reason is the unpredictable duration of the so called incubation stage.

Please mark the statement which is correct:

When looking for innovations, successful companies focus on interviewing existing customers because they provide the most reliable information on true customer needs.

Customers react with enthusiasm when they are offered products or product features, respectively, they did not expect.

If a company meets needs the customers have not articulated before, the customer will be “wowed” in any case.

It is not possible to predict the future correctly. For this reason future customer needs are irrelevant for the search of innovations.

Please mark the statement which is correct:

New technologies cannot be sources for Innovations because Innovation has to be driven by the market needs.

Megatrends focus on developments over two or more decades. For this reason they provide suitable starting points for Innovations.

Market services are a combination between markets and technologies. For this reason they don’t represent “independent” search fields for Innovation.

When looking for search fields for Innovation it is not suitable to analyse the tasks customers have to fulfil, because they may change in the course of time.

Please mark the statement which is correct:

In order not to limit the diversity of ideas to be generated in a Brainstorming session, the problem to be solved should be specified as broad as possible.

As the Osborn Check-List can be worked off step-by-step it does not provide any random stimuli.

So called “creative” people can establish analogies more easily.

Morphological Boxes are based on the principle of analytical decomposition. Their elaboration therefore requires no creativity.

Please mark the statement which is false:

The size of a group usually has an impact on the results of a creativity session.

Ideas generated towards the end of a brainstorming session – after roughly 20 to 30 minutes – usually have the highest value (from a qualitative point of view).

One general rule for every creative session is that participants are free to directly criticize the ideas of the others in order to optimize them as fast as possible.

In order to completely exploit the idea potential of a group, it is meaningful to ask participants for additional ideas some days after a creativity workshop.

Please mark the statement which is false:

The Idea Selection is carried out stepwise – from idea screening over rough selection to evaluation and prioritization.

The most important criterion of idea screening is the expected Return on Investment (ROI).

With growing information base available, the assessment of innovation potential and ideas becomes stricter. First, qualitative criteria are predominant. Later, also quantitative criteria are assessed.

Even a solid and stepwise evaluation and assessment of an idea is no guarantee for turning it into a successful innovation.

Please mark the statement which is correct:

It is meaningful to establish a distinct department within a company in order to improve its Innovation Management.

The Innovation Manager is responsible for the entire Innovation Output in order to relieve the line organization.

Innovation tasks should be assigned as extensively as possible to the existing line organization.

Innovation Management should be positioned as low as possible within the hierarchy in order to ensure ties with the basis of the company.

Please mark the statement which is false:

Research shows that job rotation has an impact on a company's innovative strength.

The innovation performance of completely new teams is continuously declining due to the Not-Invented-Here syndrome.

According to studies, the increase in participation in innovation by employees is increased primarily through non-monetary incentives.

The way in which the innovation process is designed can influence the innovation culture in the company.

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