Part 3 Flashcards
Innovation that represents a significant change that affects both the business model and the technology of a company. Davlia, Epstein, Shelton
radical innovation
when organizations pursue both external and internal ideas and innovate and collaborate with partners by sharing risk and reward.
open innovation
Innovation that involves a substantial change to either the business model or technology of an organization, but not to both. Davlia, Epstein, Shelton
semi-radical innovation
lateral thinking
A creativity technique that rejects traditional methods and employs unorthodox and apparently illogical means.
Discussion 66
A technique that helps larger groups to brainstorm more effectively through subgroups.
skunk works
A place designed to encourage the employees of large organizations to generate original ideas and innovation. Lockheed created the first skunk works.
idea incubator
An in-house program or center shielded from corporate bureaucracy and interference that is meant to engage in futuristic thinking and to develop new ideas.
closed innovation
When an organization does all of their own research internally and keeps its innovative ideas as proprietary intellectual property.
Abilene Paradox
When a group reaches a decision that few, if any, of the members would have chosen themselves.
anonymous idea generation
A technique that keeps anonymous the identity of members of a group who originate individual ideas.
idea champion
An individual who recognizes value of an innovative idea and lends organizational authority and resources to develop and execute innovation.
Corridor principal
The idea that new ventures can surface new and unintended market opportunities.
Entrepreneur
An individual who starts, organizes, manages, and assumes the risks and responsibilities of a business or enterprise.
Corporation
A legal structure for business that exists apart from the individuals who own it - e.g. shareholders - and operate it - e.g. directors and officers.
A legal structure of co-ownership between two or more people who go into business together and share in any profits or losses.
Partnership
A strategic analysis of a venture’s strengths, weaknesses, opportunities, and threats.
SWOT analysis
The simplest legal structure where the sole owner is not legally distinct from the business.
Sole proprietorship
A brief written statement of the vision and purpose of a venture or organization.
Mission statement
The entrepreneurial process conducted within an established organization.
Intrapreneurship
The creation of innovative solutions to complex social problems.
Social innovation
