Revision - Thynum Sir Flashcards
According to Locke and Latham, explain three characteristics a goal should have. (10 marks)
Complexity
Challenging
Clarity
Commitment
Feedback
Analyse the benefits of measuring performance in an organisation
Organization: better control and accountability
Managers: clear targets and team responsibility
Employees: personal accountability and linked to appraisal and bonus
Stakeholders: clear understanding of the organization
Explain the use of KPI by an organisation
KPI sets standards of how and when they will be measured
3 aspects: what, who and when
Advantages
Explain three key issues faced in measurement
Measuring too much
Identification
Describe the purpose of a balanced scorecard (5 marks)
It is a strategic performance management tool that can be used by managers to monitor progress of strategic initiatives
Explain characteristics of two types of individuals in the uptake of innovation. (10 marks)
Innovators
Early adaptors
Early majority
Late majority
Laggards
Discuss the two stages of innovation decision process with examples about consumer behaviour demonstrated at each stage (10 marks)
Knowledge and awareness
Persuasion
Decision
Implementation
Confirmation
Analyse innovation and discuss Tidd and Bessant’s 2 Ps of Innovation Space with appropriate organizational examples (10 marks)
Product
Process
Position
Paradigm
Evaluate the transition phase in the innovation life cycle of a typical product or service? (25 marks)
Fluid
Transitional
Specific
According to the uptake of innovation, Discuss the characteristics of an adopter at each stage (25 marks).
Innovator
Early adopter
Early majority
Late majority
Laggard
Evaluate three stages of the innovation-decision process (Rogers, 2003) (25 marks)
Knowledge
Persuasion
Decision
Implementation
Confirmation
Analyse the use of innovation competitions? (10 marks)
Innovation competitions are competitions where they solicit ideas and proposals from external stakeholders around a specific them or try to find an answer to a particular problem or challenge
Benefits:
Finds multiple solution to the same problem
Incentivise development of new solutions
Recognize existing solutions
Rewards innovators for work they have already performed without any strong attached
Builds partnerships across innovation ecosystems
Discuss the 3 stages in the innovation value chain? (10 marks)
Idea generation
Idea conversion
Idea diffusion
Evaluate the impact of innovation on an organization? (10 marks)
Attracts high quality staff who can create next innovation
Creating productivity improvements
Leads to reduction of costs
Speedy response to disrupters
Creates an agile organization ready to respond
Development of great leaders
Gives organization competitive advantage
Drives organization to be more sustainable
Involvement of customers at a higher degree
Collaboration if all business united
Analyse how an organisation can fix the idea generation and diffusion poor company. Base your answer on Innovation Value Chain model.
Poor idea generation:
build external networks
Build internal cross unit networks
Poor conversion:
Multi channel funding
Safe havens
Poor diffusion: catalysts
Discuss two critical steps in the idea conversion phase of the innovation value chain and suggest one way an organization can improve their idea screen phase.
Generation:
in-house: creation within unit
cross pollination: collaboration across units
external: collaboration with external parties
Conversion:
selection: screening and initial funding
development: movement from idea to 1st result
Diffusion: spread and dissemination across organization
Discuss 3 impacts of innovation. Give organisation examples for each (15 marks)
attracts high quality staff
Create productivity improvements which reduce cost
Speedy response to disrupters
Innovation creates an agile organisation quick to respond
Development of great leaders
Organisation gets competitive advantage
Explain 2 benefits of reviewing in management using an organizational example (10 marks)
Recognition of hard work
Are goals met
Reasons for failure
Assessment of resources
Improvement opportunities
Learning points
Good practices to be carried forward
Was the process efficient or flawed?
Explain four pillars of CSR? (10 marks)
Environment
Community
Diversity
Well being
Operating practices
Evaluate the impact of trademarks and trade secrets? (10 marks)
Describe three ethical issues with innovation (10 marks)
Analyse the internal risks and external risks involved in innovation in the food and beverage industry. In your answer also talk about how you can overcome the risks. (25 marks)
Internal:
Investment risks
Open innovation
Concentration of resources
No capacity for implementation
External:
Demand
Technology
Competitor
Govt risks
Evaluate the reasons for failures in innovation management (25 marks)
Did not define goals
Actions deferred from goals
Did not encourage team participation
Poor communication
Results were not monitored
Insufficient resources to manage the innovation process
Process was poorly project managed
What is risk?
An event or change occurring
Impact of this event or change
Probability that it may occur
