5.4 Stakeholders in Innovation

Question 1

Lone Inventor

Answer 1

An individual working inside/ outside of an organization who is committed to the creation of a novel product

Question 2

Product Champion

Answer 2

an influential individual, within an organization, who develops enthusiasm for a particular idea or invention

Question 3

Entrepreneur

Answer 3

An individual who brings an invention into a market and is often responsible for financing the development

Question 4

Why would the inventor act as a product champion and/or entrepreneur?

Answer 4

An inventor may act as a product champion/ entrepreneur because their idea is too novel or unfamiliar that companies would be hesitant to take a risk on it

Question 5

How can the inventor act as a product champion and/or entrepreneur?

Answer 5

convincing another company of the importance of their invention by championing it in order to gain backing for it

Question 6

Multi-disciplinary team

Answer 6

A team that develops a design with expertise in all disciplines and different skills

Question 7

Advantages of multi-disciplinary teams

Answer 7

1. wide range of expertise/ knowledge
2. consider certain ideas through different lenses

Question 8

Disadvantages of multi-disciplinary teams

Answer 8

1. possibility of miscommunication between team members
2. difficult to adapt to different working styles/ speeds