Klausurvorbereitung after Briefing Flashcards
Name 6 Types of innovation
- Product
- Business Model
- Process
- Business Process
- Social
- Service Innovation
Draw and Explain the Stage-Gate Process from Cooper
Folie 12 seiner Zusammenfassung
Draw the Diffusion of Innovations (incl. The Chasm; what idea)
Folie 9
Draw and Explain the Capability Maturity S-Curve
Folie 10
What is Innovation?
Innovation is understood as the first economic or social use or the first economic and/or social application of inventions to achieve company goals, society goals and/or meet new requirements, unarticulated needs, or existing market needs
Innovations gleichung
Invention + Commercial and/or social exploitation
Draw the Demarcation - Innovation/R&D/Technology Management
Siehe Seite 7
What are Innovation drivers and sources
- Technology advances
- Changing customer needs
- Intensified competition
- Changing business environment
Innovation Strategy? Do we have one ? Do wee need one?
Search - How to find opportunities?
Select - What we are going to do and why?
Implement - How to guarantee the successful implementation?
Capture - How to assure that we will benefit?
Who is the Creator of Innovators Dilemma:
Clayton Christensen
What is the Innovator’s Dilemma?
When faced with a DISRUPTIVE INNOVATION most ESTABLISHED BUSINESS FAIL to react adequately and crash, no matter what RESOURCES they have.
Draw and explain the Threat of disruption
SIehe Seite 8
Whats an example for Sustaining technology? Whats around it?
e.g. Xerox -> Defended their monopoly with photo copier; Did not market disruptive technologies like others (apple,microsoft)
- Current Market
- Based on new request of existing customer
- Used to improve the product
- Basis are existing technology of the product
What is Disruptive technology ( New-Market Disruption)
- New market
- Basis of a new (revolutionary) product
- Has new features
- For new customers
DT are disturbing or even eliminate existing market structures to create new markets with new players
The power of Disruption: KODAK Case
- Failed shift towards digital phtography
- underestimated smartphones
Schumpeters Theory - Richtig Anordnen
Siehe 9
Diffusion of innovations - WHats around Rate of adoption
+ Relative Advantage
+ Observeability
+ Compability
+ Triability
- Perceived Complexity
- Risk of the innovation
Activity - Enabler and Output of innovation
input {Enabler} -> Innovation (company) -> Output {measureable}
What could be MEASUREABLE input parameters?
-> # of cooperations with universities
What could be MEASUREABLE OUTPUT paramters?
-> # filled patents
Innovation Strategy - Possible Elements inclusive Questions
- Alignment with Corporate Strategy: How will innovation help to create value for the customer?
- Objectivies: What specific target will we achieve through innovation?
- Technology: Which technologies do we focused on?
- Markets: Which markets do we seek to innovate in?
- Innovation Culture: Which kind of internal culture will we seek to create?
- Innovation Process: Which systems and structures will help us to innovate?
- Internal capabilities: Which innovation skills and capabilities will we develop in our people?
- Partners: Which external parties willl we seek to collab with, and how?
Draw the Technology Performance Limits
Siehe 10
Draw the Innovation Strategy Summary
Siehe 10
How to get Information about hidden needs?
- Empathic Design
- Lead Customers
- Experimentation
- Ethnographic market research
- Involving the user
Creativity exists as a function of three components
- Expertise
- Creative Thinking
- Motivation
An Idea to be original is not enough, What else must the idea be?
- Useful
- Appropriate
- Actionable
What are ingredients for a creative organization?
- Access to Knowledge
- Management of Knowledge
- Company Culture
- “Slack” Time
WHere is knowledge in the Organisation located? Whats important
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Where is the sweet spot located? What influences it?
Desirability: (start here)
- Do they want this?
- Whats the Unique Value Proposition?
- Will it fit into people’s lives?
Viability:
- Should we do this?
- Can we build a sustainable business?
- What are the costs?
Feasibility:
- Can we do this?
- Does a technology exist which can fulfill needs?
- Is production feasible in the context of time, cost and space requirements?
What is the NPV?
Present value of an investments future net cash flows (DCFs) minus the initial investment. If positive the investment is worth making
NPV in parctice: Near-future cash flow is more valuable than far-future income because of discounting, i.e. 1 Euro earned this year is more valuable than 1 euro earned 4 years from now
NPV Excel Aufgabe
Siehe Excel
How does a Simplified Scoring Matrix look like?
Siehe 12
What is Culture?
shared ways of thinking, feeling and acting that people usually learn in childhood and that persist into adulthood
Draw the Hofstede Culture triangle
Individual -> -Personality- <- Learned & inherited
Group/category specific -> -Culture- <- Learned
Universal -> -Human nature <- Inherited
How to assess the company culture?
Via Cultural Web
In the middle: Paradigm (Mindset)
Around:
- Organizational Structure
- Power Structure
- Symbols
- Stories
- Routines and rituals
- Control Systems
Whats Mindset? Dartscheibe
Mindset describes the ways of thinking, convictions and behavior patterns or the inner attitude of people. Often the word mentality is used as a synonym. Minset is a crucial for a successful and happy life and everyone can develop their mindset for such a life.
Dart
Bull nach außen
Process and methods: <- Moderate potential/easy tangible
Company culture: <- big potential/limited tangible
Mindset: <- extreme big potential/difficult tangible
Draw the Manging Motivation: Flow as source of innovation
Siehe 13
Draw the BMC
Siehe 14
Draw the Stacey Matrix
Siehe 14
Name business models
- Razor and blade
- Power by the hour
- Freemium
- Subscription based
Draw a BMC for Nespresso
Siehe 14
Design Thinking -> Problem Solving in 6 Steps
Problem Space:
Understand
Observe
POV/Synthesis
Solution Space:
Ideate
Prototype
Test
Which of the following is NOT a driver for innovation
A. Changing Market Needs
B. Competition
C. New technologies
D. Regulation
A. Changing Market Needs
B. Competition
C. New technologies
D. Regulation ❎
Which of the following is NOT part of the flow diagram
A. Boredom
B. Flow
C. Stress
D. Need
A. Boredom
B. Flow
C. Stress
D. Need ❎
Process for innovation management is useless since innovations come from genius
A. Wahr
B. Falsch
A. Wahr
B. Falsch ❎
A new software platform which reduces patient waiting time in a hospital can be seen as a process innovation
A. Wahr
B. Falsch
A. Wahr ❎
B. Falsch
The S-Cruve says that every technology has a performance limit
A. Wahr
B. Falsch
A. Wahr ❎
B. Falsch
Sustaining technologies and related products often transform an expensive product into a cheap product
A. Wahr
B. Falsch
A. Wahr ❎
B. Falsch
Established companies are good at starting new business with disruptive technologies
A. Wahr
B. Falsch
A. Wahr
B. Falsch ❎
Which of the following might NOT be a trigger for innovations?
A. Channing government regulation on pollution control
B. Dividends paid to shareholders during the past two years
C. Experimental research work on new materials
D. Customer complaints on quality issues of existing product
A. Channing government regulation on pollution control
B. Dividends paid to shareholders during the past two years ❎
C. Experimental research work on new materials
D. Customer complaints on quality issues of existing product
Which of the following is NOT a good criteria for a scoring matrix in the early selection phase?
A. Strategic alignment
B. Customer need
C. NPV
D. Market growth
A. Strategic alignment
B. Customer need
C. NPV
D. Market growth ❎
Which of the following team structure is best for disruptive innovations?
A. Cross-functional teams
B. Autonomous teams
C. Heavyweight teams
D. Anonymous teams
A. Cross-functional teams
B. Autonomous teams ❎
C. Heavyweight teams
D. Anonymous teams
Innovators Dilemma means: Should we buy a start-up or start an independent business unit?
w /f
A. Wahr
B. Falsch ❎
Disruptive technologies often start out of a market niche
A. Wahr
B. Falsch
A. Wahr ❎
B. Falsch
Sustaining technologies focus on a new market
w/f
A. Wahr
B. Falsch ❎
Highest performing companies have well established process which often kill new ideas
A. Wahr
B. Falsch
A. Wahr ❎
B. Falsch
Which of the following persons provided theories to describe motivation of people?
A. Christensen
B. Porter
C. Csikszenmihalyi
D. Hofstede
A. Christensen
B. Porter
C. Csikszenmihalyi ❎
D. Hofstede
Best innovation output is achieved if people are … ?
A. Extrinsic motivated
B. Introverted
C. Intrinsic motivated
D. Extensive motivated
A. Extrinsic motivated
B. Introverted
C. Intrinsic motivated ❎
D. Extensive motivated
Managers often face the problem: should we make our current customer happy or should we go for new markets?
A. Wahr
B. Falsch
A. Wahr ❎
B. Falsch
