Quantitative data collection and analysis etc.

Question 1

What are surveys?

Answer 1

• The use of a fixed set of questions directed to a large set of respondents
• The collection of a small amount of data in standardized and quantified form from a relatively large number of individuals
• The selection of representative samples of individuals from known populations

Question 2

What are som strengths of questionnaire-based surveys?

Answer 2

• Delivers precise numerical estimates
  of the frequency and magnitude of
  consumer responses – are most useful
  to business where precision matters a
  lot
• Objective
• Reaches many people – avoids
  personal prejudice and limitations
• Allows you to apply statistical methods
  that enhance rigor and add depth
• Identifies and illuminates differences
  between groups
• Can be repeated over time

Question 3

What are som weaknesses of questionnaire-based surveys?

Answer 3

• Tells you “what” but not “why” (eg why customer satisfaction is down)
• Cannot tell you what you didn’t know that you didn’t know (“unknown unknowns”)
• Rely on self-report (action may be different from that)
• Participation is unrewarding
• Surveys are only as good as the sample and questions
• Directed to individuals – but sometimes decision-making is done by groups

Question 4

What are the conclusions of surveys?

Answer 4

• Surveys are easy and cheap to create and distribute
• Analysis of survey data identifies important numbers, enables analysis of related phenomena/aspects as evolution of quantities over time
• Surveys are an important tool for product planners but mainly relevant for guiding improvement of existing products, less applicable to completely new products
• “Statistical significance” of findings requires good questionnaire design and a large number of properly sampled responses
• Surveys are mainly used for confirmatory research but can to some extent also be used for exploratory research, eg through inclusion of open-ended
  questions

Question 5

What does the opportunity identification process look like?

Answer 5

1. Establish a charter
2. Generate and sense many opportunities
3. Screen opportunities
4. Develop exceptional opportunities
5. Select exceptional opportunities
6. Reflect on the results and the process

Question 6

What does it mean to establish an “innovation charter”?

Answer 6

• Articulate the goal and the boundary conditions for
  an innovation effort
• A broad statement is preferable to encourage the
  team to consider opportunities beyond the
  traditional assumptions of the firm

Question 7

When screening opportunities, what types of opportunities do we want to find?

Answer 7

• Valuable
• Rare
• Inimitable
• Non-substitutable

Question 8

How do you screen opportunities?

Answer 8

• Web-based surveys
• Workshops with idea
  presenters who “pitch” and
  stakeholders who “vote”
• Elimination matrix with a few
  key requirements

Question 9

How do you select excellent opportunities?

Answer 9

• Real-Win-Worth-screening
  (checklist)
• Best practice scoring model
• Concept selection methods

Question 10

What is real-win-worth?

Answer 10

Proposed ideas are evaluated with respect to
three basic questions:

• Is there a real market and a real product?
• Can we win? Can our product or service be
  competitive? Can we succeed as a company?
• Is it worth doing? Is the return and the risk acceptable?