Module 9

Question 1

While the idea of the entrepreneur and
entrepreneurship has evolved to include the
attributes of innovation, opportunity discovery (or
construction) and value creation, my sense of
the basic gist of the term continues to focus on
this facet of human behavior: initiative taking.

Answer 1

Fayolle (2007)

Question 2

The process of entrepreneurship invariably
involves an individual or individuals investing
effort into something they had not previously
done before.

Answer 2

Fayolle (2007)

Question 3

is the specific tool of
entrepreneurs,

Answer 3

Innovation

Question 4

the means by which they
exploit change as an opportunity for a
different business or a different service

Answer 4

Innovation

Question 5

argued that innovation should be viewed as an economic or social phenomenon rather than a technological term. Innovation is not about making new inventions, but rather about recognizing how to take advantage of opportunities and changes:

Answer 5

Drucker (1985)

Question 6

consists in the purposeful and organized search for
changes, and in the systematic analysis of the
opportunities such changes might offer for economic or social innovation

Answer 6

Systematic innovation

Question 7

view that innovation arises
from new combinations of materials and forces

Answer 7

Schumpeter (1934)

Question 8

4 types of Innovation

Answer 8

Increment
Disruptive
Architectural
Radical

Question 9

Type of Innovation

Common to the degree
Trying to improve

Answer 9

Increment

Question 10

Type of Innovation

Creating and innovation based in
particular criteria

Answer 10

Architectural

Question 10

Type of Innovation

Creating innovation out of new
technology- existing market

Answer 10

Disruptive

Question 11

Type of Innovation

New technology and new market

Answer 11

Radical

Question 12

are the combination of learnable behaviors that
encompass attitudes (wanting to do), skills (how
to do), knowledge (what to do), practical experiences (proven learning), and natural talents of a person in order to effectively
accomplish an explicit goal within a specific context.

Answer 12

Individual Competencies

Question 13

are the synergistic combination of the individual competencies of team members within
organizations. There is a continuum that exists from low-functioning teams to high-functioning teams.

Answer 13

Collective Competencies

Question 14

are those that are collectively held and that include the learnable behaviors the entire organization must practice in order to achieve competence in relation to the organization’s purpose and its competitive environment.

Answer 14

Core Competencies

Question 15

A core competency
encompasses the ________ that create unique customer value

Answer 15

knowledge, skills, and
technology

Question 16

are small-scale
improvements on what is already being done,
often with the intention to improve efficiencies to
reduce costs, or improve products or services
offered.

Answer 16

Incremental innovations

Question 17

can be used to differentiate products for marketing purposes

Answer 17

Incremental innovations

Question 18

involve doing new things for existing customers and markets, and also doing things that extend product offerings to new customers and new markets

Answer 18

Evolutionary innovations

Question 19

are when businesses pursue new products, businesses,
customers, and markets.

Answer 19

Revolutionary innovations

Question 20

The impacts from these types of innovations can be much higher than from either incremental or evolutionary innovations

Answer 20

Revolutionary innovations

Question 21

innovation degrees

Answer 21

Incremental
Evolutionary
Revolutionary

Question 22

combined the innovation degrees with the innovation types to develop The Innovation Matrix

Answer 22

Matthews and Brueggemann (2015)

Question 23

A concept that encompasses forward and reverse innovation.

Answer 23

Innovation direction

Question 24

It is a notion that is based on the source and target of the innovation.

Answer 24

Innovation direction

Question 25

would have its source in
country X and the target in country X.

Answer 25

forward innovation

Question 26

would have its source in country Y and later targeted to a different country

Answer 26

reverse
innovation

Question 27

occurs when multiple actors in the ecosystem attempt to
innovate, which leads to the possibility that a new innovation developed by one company is ready at a different time than a dependent second innovation developed by another firm

Answer 27

co-innovation risk

Question 28

also occurs when multiple
firms in the value chain are simultaneously developing new products and services

Answer 28

Adoption chain risk

Question 29

Organizations should redefine themselves as
pursuing the creation of shared value rather than
just profits

Answer 29

Matthews & Brueggemann, 2015;
Porter & Kramer, 2011

Question 29

An increasing number of organizations are adopting
alternative measures of performance that
include not only economic outcomes, but also
social and environmentally responsible results: a
triple bottom line

Answer 29

Kneiding & Tracey, 2009

Question 30

It is a marker that each business sector needs to
achieve in order to be competitive.

Answer 30

Innovation Threshold

Question 31

argue that a design should be judged based on its
desirability, feasibility, and viability: “An innovative design needs to be desirable, feasible, and aligned with a sustainable business model.”

Answer 31

Matthews and Bruggemann (2015)

Question 32

One example of an innovation process is

Answer 32

design thinking.

Question 33

The adoption and implementation of new ideas, processes, products, or services within and across organizations

Answer 33

diffusion of innovation

Question 34

can help us understand what we must do in terms of
implementing steps and processes for innovations to be diffused into the areas of
practice where they are needed.

Answer 34

Theory of the Diffusion of Innovation

Question 34

defined diffusion of
innovation as “the adoption and implementation
of new ideas, processes, products, or services”
as she studied the diffusion of innovation “within
and across organizations.”

Answer 34

Lundblad (2003)

Question 35

FOUR ELEMENTS OF THE THEORY OF THE
DIFFUSION OF INNOVATION

Answer 35

Innovation
Communication
Time
Social system

Question 36

The processes used by people to share the
information needed to develop a common
understanding.

Answer 36

Communication

Question 37

describes the
gap in time between when a potential early
adopter learns about an innovation and either
adopts it or doesn’t.

Answer 37

Innovation-decision process-

Question 38

refers to the speed with which an organization delivers innovations, and how that impacts its ability to compete.

Answer 38

Innovation Pacing

Question 38

describes how quickly the
innovation is adopted

Answer 38

Rate of adoption

Question 39

focus on competing with
other players for market share within industries
that currently exist.

Answer 39

Red ocean strategies

Question 40

namely entirely new
markets, business models, industries, and other
opportunities that others have not yet been
conceptualized or pursued

Answer 40

Blue ocean strategies,

Question 41

transforms any type of
innovation that historically was expensive and
complicated into an innovation that is affordable,
simple, and available to broader markets

Answer 41

Disruptive innovations