General

Question 1

What global Challenges where discussed in the lecture – 4 points

Answer 1

1. National Egoism
2. urbanization and transport infrastructure
3. demographic changes
4. politics and ‘asianrising’
5. shortage of resources and increase in raw material costs
6. globalization
7. disruptive migration crisis
8. climate change and ecological awareness

Question 2

What global challenges and threads do you foresee? Please explain and give if possible facts and sources for your facts.

Each Challenge and thread 0,5 points (max 3 points)
Each explanation with fact and source 1 -2 points

Answer 2

a. Growth in China is decreasing. German car and machine tool companies will sell less products to this market:
b. Food will be scarce
c. Water will be scarce
d. Nature catastrophies will increase
e. The Demand for rare earths will be higher than the offer
f. Semiconductors market
g. The electric car will replace the fuel engine, this will kill a huge part of the german industrie

Question 3

Describe possible Scenarios for 2020 – 4 points

Answer 3

a. Hard Times : National egoism, defensive behavior, conflicts, accelerating climate change
b. New Power: High dynamics, great global political creative will, change, enormous pressure to innovate
c. High Tech Pragmatism: Pragmatism, technology, quality, new services, no revolutions
d. Asian innovation: Conquest of new markets, innovative key technologies

Question 4

Name 3 types of innovation. Why is it important to differentiate? - 1,5 point

Answer 4

1. Product
2. Process
3. Business Model

Axe: to expand the horizon

Differentiation is necessary because you have to focus on one single type and cannot cover everything.

Question 5

What is the secret for successful innovations? - 1 points

Answer 5

5% Inspiration
95% Transpiration

Innovation = successful implementation of an invention and commercial use –> turning knowledge into money

Invention = new knowledge, new product or new process –> turning money into knowledge

Innovation Management = systematic generation, control and exploitation of inventions

Question 6

Name the 8 essentials described in the video of McKinsey. – 4 points

Answer 6

ADACMSEE

1. Aspire (Put numbers on it)
2. Choose (Place clear bets)
3. Discover (Insights over ideas)
4. Evolve (Or risk extinction)
5. Accelerate (Make horse not camels)
6. Scale (Go big – selectively)
7. Extend (Be the partner of choice)
8. Mobilize (Go beyond structures)

Question 7

What is the difference between efficiency and effectiveness and what is harder to achieve? 1,5 points

Answer 7

• *Efficiency** = doing things right = managing risks
• *Effectiveness** = doing the right things = using opportunities effectively
• *Harder**: Effectiveness, because often not known and new

Question 8

Please name the elements of the innovation machine and describe the role of the element culture – 3 points

Answer 8

5 Elements:

1. Strategy
2. Structures
3. Tools
4. Culture
5. Process

Culture connects, influences and can benefit all other elements

Culture is the most important = Habit: Influences all other elements
Basic settings and behavior to develop all other elements
Connects all other factors
All have to be customer oriented for success