Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Innovation Management > Chapter 1: 10 Types Of Innovations > Flashcards

Chapter 1: 10 Types Of Innovations Flashcards

1
Q

Profit Model Innovation

A

How you make money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Network Innovation

A

How you connect with others to create value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Structure Innovation

A

How you organize and align your talent and assets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Process Innovation

A

How you use signature or superior methods to conduct business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Product Performance Innovation

A

How you develop distinguishing features and functionality

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Product System Innovation

A

How you create complementary products and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Service Innovation

A

How you support and amplify the value of your offerings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Channel Innovation

A

How you deliver your offerings to customers and users

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Brand Innovation

A

How you represent your offerings and business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Customer Engagement Innovation

A

How you foster compelling interactions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Simple Innovations

A

Use of 1 or 2 types of innovations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Sophisticated Innovations

A

Use of multiple types of Innovations (3+)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Profit Model Innovation Example

A

Netflix ”Subscription model”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Network Innovation Example

A

Target working with renowned external designers to differentiate from competition

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Structure Innovation Example

A

Whole Foods ”robust feedback system for internal teams”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Process Innovation Example

A

Zara’s ”fast fashion strategy”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Product Performance Innovation Example

A

Pampers ”first to introduce disposable diaper technology, continuing to innovate for over 50 years”

18
Q

Product System Innovation Example

A

Gillette ”Venus for Women with complementary products such as shaving cream, disposable shaving utencils”

19
Q

Service Innovation Example

A

Coolblue’s ”Obsession for customer satisfaction. SLOGAN ‘Alles voor een glimlach’ ”

20
Q

Channel Innovation Example

A

Nespresso ”Members only club”

21
Q

Brand Innovation Example

A

Virgin ”brand extension into different markets ranging from soft drinks to space travel”

22
Q

Customer Engagement Innovation Example

A

Wii’s ”Experience based usage, with focus more on interaction than on-screen”

23
Q

Which innovation, when correctly executed, allows a company to capitalise it’s own strengths while harnessing the capabilities and assets of others?

A

Network Innovation

24
Q

Open Innovation

A

Companies utilise each other’s resources and technologies, also sharing risks and rewards with each other

25
Q

Special Sauce

A

Non-replicable innovations

26
Q

To what Innovation does ”Special Sauce” refer to?

A

Process Innovation

27
Q

Which innovation, when correctly executed, allows a company to build ecosystems that captivate and delight customers and defend against competitors?

A

Product System Innovations

28
Q

Which Innovation type involves entirely new products as well as updates and line extensions?

A

Product Performance Innovation

29
Q

Which innovation, when correctly executed, allows a company to create valuable connections between otherwise distinct and disparate offerings?

A

Product System Innovation

30
Q

Which innovation, when correctly executed, allows a company to elevate ”bland” products into compelling experiences that create returning customers?

A

Service Innovation

31
Q

Which innovation, when correctly executed, enhances utility, performance and apparent value of an offering?

A

Service Innovation

32
Q

Which innovation, when correctly executed, reveals features and functionality consumers might otherwise overlook?

A

Service Innovation

33
Q

Which innovation, when correctly executed, creates distinct brand identity that consumers recognise?

A

Brand Innovation

34
Q

Which innovation, when correctly executed, allows a company to make consumers daily lives more memorable/fullfilling/delightful?

A

Customer Engagement Innovation

35
Q

Which Innovations are considered Configuration Innovations?

A

Profit Model Innovation, Network Innovation, Structure Innovation, Process Innovation

36
Q

Are Configuration Innovations considered internal or external?

A

Internal

37
Q

Which Innovations are considered Offering Innovations?

A

Product Performance Innovation, Product System Innovation

38
Q

Are Offering Innovations considered internal or external?

A

Mix of both Internal and External

39
Q

Which Innovations are considered Experience Innovations?

A

Service Innovation, Channel Innovation, Brand Innovation, Customer Engagement Innovation

40
Q

Are Experience Innovation considered internal or external?

A

External

Innovation Management (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions