Module 4 Planning & Evaluation and Innovation Across Organizations Flashcards
What are the four functions of management in innovation planning?
The four functions are planning, organizing, leading, and controlling.
What is the key principle in planning and evaluating innovation initiatives?
The key principle is encouraging experimentation and learning to address uncertainty.
What is a virtual firm in the context of innovation?
A virtual firm is a firm that works across organizational boundaries, such as in alliances or joint ventures, to execute innovation projects.
What are systemic innovations?
Systemic innovations require integration across multiple components or firms to be effective.
What are autonomous innovations?
Autonomous innovations can be developed and implemented independently without requiring coordination across components or firms.
What is strategic alignment in alliances and joint ventures?
Strategic alignment refers to ensuring that all partners in an alliance or joint venture share common goals and objectives.
What are the key challenges in evaluating innovation initiatives?
Challenges include managing biases in evaluating results and balancing short-term metrics with long-term learning.
What are the two main reasons firms use virtual approaches to innovation?
Firms use virtual approaches to access external resources and capabilities, and to reduce risk by sharing responsibilities across firms.
Why do alliances and joint ventures often fail?
Alliances and joint ventures often fail due to misalignment of goals, poor governance, inadequate resource sharing, or cultural differences.
What are the four key elements in designing alliances and joint ventures?
The four key elements are strategic alignment, governance, resource sharing, and organization building.
