Homework Lance
MULTIPLE CHOICE
1. Which one of these is NOT one of the three key implementation questions to be asked in the innovation implementation process?
a.
What should we be doing now/later?
b.
What is the cost to benefit ratio?
c.
What activities require most time/skills?
d.
What should be delegated and to whom?
e.
None of these are key implementation questions
ANS: B PTS: 1
2. When a firm develops technology that leapfrogs the firm:
a.
Obtains venture capital financing
b.
Skips over an existing generation of products
c.
Leaps in market value significantly
d.
Is guaranteed a profitable market entry
e.
Has a smooth but fast path towards full market penetration
ANS: B PTS: 1
3. Synergy relies on:
a.
the ability to use the same firm resources in different domains
b.
having large enough firms that equipment can overlap
c.
being in the same industry classification
d.
having management teams that work well together
e.
having simple enough processes that overlaps can be found
ANS: A PTS: 1
4. Which is not one of the four critical elements to implementing innovation as a strategy in the organization?
a.
Opportunity
b.
Leadership
c.
Extension
d.
Alignment
e.
Engagement
ANS: A PTS: 1
5. For successful innovation implementation leaders need to ensure:
a.
a clear identification of those financial goals that will drive the firm
b.
that there are strong accounting and financial sectors of the firm to ensure that funding is strictly accounted for
c.
that there is a culture of collaboration and cross functional initiatives
d.
that perform measures are strictly used
e.
those members of the leadership team that do not support the goals are replaced
ANS: C PTS: 1
6. Innovative organizations typically are founded and lead by:
a.
a strong leader that utilizes a hierarchical organization
b.
leaders that are willing to “break a few eggs” to get things done
c.
individuals driven by financial rewards
d.
teams of individuals
e.
individuals who had the “ah-ha” moment that led to the founding of the firm
ANS: D PTS: 1
7. Informal power comes from:
a.
the title of the individual
b.
the official position of the individual
c.
the expertise and knowledge of the individual
d.
age of the person
e.
strength of the person
ANS: C PTS: 1
8. Seymour Cray is known for creating:
a.
high performance computers
b.
silicone chips
c.
GSM technology
d.
a wheelchair that can climb stairs
e.
RFID technology
ANS: A PTS: 1
9. The law of diminishing returns is discussed in Chapter 4 in terms of:
a.
the level of investment necessary to bring an investment to market
b.
the ability of an industry to shape returns of a firm
c.
how complementary products shape the returns of a firm
d.
the power of a firm to shape competition in that industry
e.
the need to avoid analysis by paralysis
ANS: E PTS: 1
10. The benefits of leaders delegating authority include all of the following except:
a.
employees learn to lead
b.
employees gain new skills
c.
the organization will develop leadership talent
d.
the leader spends time on other things
e.
the leader ensures that they do not overwork themselves
ANS: E PTS: 1
11. A leader should ask all of the following questions in the implementation process except:
a.
Is there an open, questioning attitude among employees?
b.
Does the organization have a clear hierarchy that ensures all opinions are processed to prevent information overload?
c.
Is the organization avoiding the ruts?
d.
Are there strategic gaps?
e.
Is there a vision of where the firm needs to go?
ANS: B PTS: 1
12. ____ is pivotal in determining engagement by employees in the innovation implementation process.
a.
Employee compensation
b.
Status of leaders
c.
Rank of leaders
d.
Organizational culture
e.
Goals of organization
ANS: D PTS: 1
13. Engagement focuses on:
a.
creating a questioning attitude in employees
b.
team building
c.
fostering inertia
d.
delegating authority
e.
funding critical needs
ANS: B PTS: 1
14. What emerges when there is a satisfaction with the status quo?
a.
poor job performance
b.
loss of technological advantage
c.
complacency
d.
engagement
e.
inertia
ANS: C PTS: 1
15. Richard D’Aveni is associated with:
a.
re-engineering
b.
hypercompetition
c.
five forces model
d.
diamond of national competitiveness
e.
resource theory
ANS: B PTS: 1
16. Hypercompetition focuses on the belief that:
a.
organizations build up over time excess processes that no longer provide value to the customer
b.
rapid change and intense competition exist in certain industries
c.
a firm’s profitability is determined by its industry
d.
a nation’s competitiveness is based on more than factors of production
e.
a firm’s competitive advantage comes from internal resources that the firm develops over time
ANS: B PTS: 1
17. The three methods that can help to establish the view by employees that they are part of the organization or system are all of the following except:
a.
mentor
b.
train and develop
c.
sympathize
d.
build a knowledge-based culture
e.
none of these choices
ANS: C PTS: 1
18. Mentoring can be ____ to be successful.
a.
Formal but not informal
b.
Informal but not formal
c.
Unobserved
d.
Informal or formal
e.
Structured
ANS: D PTS: 1
19. ____ is a direct one-on-one activity between employees in the organization or system.
a.
extension
b.
shared lessons
c.
monitor competencies
d.
mentoring
e.
training & development
ANS: D PTS: 1
20. Successful skills development programs are characterized by all of the following except:
a.
A state of informed optimism
b.
Dynamic process that changes as there is a need for employees to change
c.
Directed empowerment
d.
Turning prism
e.
A consistent view of firm so that the firm is not distracted from mission
ANS: E PTS: 1
21. Benchmarking involves the:
a.
building a bench or portfolio of new products that can be introduced to market
b.
building a bench or portfolio of innovations that the firm pursues consecutively
c.
comparing the “best” firms in any domain to a given firm’s performance and processes in that domain
d.
comparing your firm’s performance and processes in a given domain to the industry average in that domain
e.
determining how the firms with the largest sales in a given domain conduct their activities in a given domain
ANS: C PTS: 1
22. Extension occurs when ____ and ____ competencies are understood sufficiently so that ideas lead to action.
a.
innovation, market
b.
market, strategy
c.
product, market
d.
strategy, product
e.
innovation, strategy
ANS: C PTS: 1
23. Key actions that help to generate extensions of innovation include all of the following except:
a.
Shared lessons within the organization
b.
Monitor competencies
c.
Look for new opportunities
d.
Cut costs in current processes
e.
All of these are key actions
ANS: D PTS: 1
24. Diffusion is concerned with:
a.
market penetration by a new product.
b.
information sharing in an organization
c.
common culture development in a multi-national firm
d.
joint ventures and the blending of cultures
e.
joint ventures and the level of support for a new product
ANS: B PTS: 1
25. Diffusion is associated with the following characteristics except:
a.
a new idea or innovation
b.
the new idea or innovation is at prototype stage so it can be visualized
c.
the idea or innovation is communicated through certain channels
d.
the communication occurs over time in a timely manner
e.
the communication occurs members of a social system
ANS: B PTS: 1
26. Alignment within the organization is concerned with:
a.
Fit between the systems in the firm
b.
Fit between the firm and the industry
c.
Fit between the leadership and the firm’s workers
d.
Fit between top management and middle management
e.
Fit between the environment and the leadership of the firm
ANS: A PTS: 1
27. All of the following are what firm needs to consider as it seeks to build fit except:
a.
focus building the group within the department or division
b.
seek to reduce barriers between departments
c.
ensure that the information on competitors is current and central to the implementation effort since they shape a firm’s success
d.
gather information from customers and consumers
e.
recognize that the importance of external concerns will depend on the nature of the firm’s industry
ANS: E PTS: 1
28. One of the primary reasons firms have difficulty being innovative is:
a.
the firm’s structure
b.
competitors’ actions
c.
industry structure
d.
communication technology failures
e.
skills of people in the organization
ANS: A PTS: 1
29. Evidence shows that the best structure for an innovative firm is:
a.
simple
b.
hierarchical
c.
functional
d.
SBU
e.
one that matches the organization’s goals.
ANS: E PTS: 1
30. A useful analogy for a portfolio of innovative projects is:
a.
the “bench” of a football team – how deep does the potentially successful innovations go
b.
an ecosystem
c.
a family and its ability to function and support each other
d.
the stock market – the best survive and the market determines what is best
e.
a couple and its children are its innovations
ANS: B PTS: 1
31. It is better to have supportive systems and policies in the firm that:
a.
Have very loose systems and policies
b.
Have strict systems and policies that measure all things
c.
Leave the development of such systems and policies to midlevel managers
d.
Are consistent with the effort to encourage innovation
e.
Avoid any specification of the systems and policies until problems arise so that you can then design those systems and policies as needed
ANS: D PTS: 1
32. In tying rewards and incentives to the achievement of goals the relevant questions include all of the following except?
a.
What happens to creative mavericks?
b.
Is there guidance to new paths from the analysis of when things go wrong?
c.
Are you still able to make your numbers?
d.
What happens to someone that fails?
e.
Do you encourage risk taking?
ANS: C PTS: 1
33. The structure of any organization has two basic purposes which are:
a.
coordination and leadership
b.
communication and flexibility
c.
openness and flexibility
d.
communication and coordination
e.
being flat and open
ANS: D PTS: 1
34. The pitfalls for innovation to avoid include all of the following except:
a.
applying the process too narrowly
b.
overlooking people processes
c.
being too confident of your ability to lead the process
d.
relying on technology to fix all systems problems
e.
avoiding the elimination of processes and people
ANS: A PTS: 1
35. The guidelines for a new product in an existing market include all of the following except:
a.
determine the relative advantage of the product in the market
b.
make it very complex so selling it to the market becomes easier
c.
build awareness through samples
d.
build awareness through demonstrations
e.
make the product visible
ANS: B PTS: 1
TRUE/FALSE
1. Engagement is related to career building factors.
ANS: F PTS: 1
2. The four critical elements to implementing innovation as a strategy are leadership, engagement, extension, and sustainability.
ANS: F PTS: 1
3. One of the methods that helps establish the view by employees that they are part of the organization is building a knowledge-based culture.
ANS: T PTS: 1
4. The purpose of an innovative strategy is to create and effectively utilize new products and processes.
ANS: T PTS: 1
5. One of the most difficult items to identify and proactively impact is the culture of the organization.
ANS: T PTS: 1
6. Objective measures are always the best method of judging the success of innovation.
ANS: F PTS: 1
7. Generally speaking, the structure of an organization must be characterized by flexibility and openness if innovation is to take place.
ANS: T PTS: 1
8. The ultimate outcome from the leader’s efforts at implementation is to put into place systems, structures, people, processes that will help the organization move in the direction it desires and towards long-term sustainability.
ANS: T PTS: 1
9. Complacency disappears when there is a satisfaction with the status quo.
ANS: F PTS: 1
10. Culture is the key element in determining the level of engagement within the organization.
ANS: T PTS: 1
11. Leadership, engagement, extension, and alignment are the four critical elements to implementing innovation as a strategy in the organization.
ANS: T PTS: 1
12. Alignment, in terms of innovation implementation, is the fit between the organization and its customers.
ANS: F PTS: 1
13. In an innovative company, the external groups are most important because they allow interaction and idea exchange.
ANS: F PTS: 1
14. Engagement focuses on team building, and if employees do not feel they are a part of the organization they will have trouble overcoming complacency.
ANS: T PTS: 1
15. Extension occurs when product and market competencies are understood sufficiently so that ideas lead to action.
ANS: T PTS: 1
SHORT ANSWER
1. What are the key concerns when considering the actions necessary to implement an innovation strategy?
ANS:
·
Timing – resources are available when need them
·
Human resources – they need to be in place since they are hard to buy and developing takes time
·
Effective use of platforms
PTS: 1
2. What are the key implementation issues when considering what and whom to delegate?
ANS:
·
leadership – ensure that there is cooperation among employees
·
engagement – getting the parts of the organization moving in the same direction
·
extension – ensuring the firm has sufficient knowledge so that new ideas lead to action
·
alignment – the various elements of the effort at implementation must connect and support each other
PTS: 1
3. What are the problems in engagement in the implementation of innovation process?
ANS:
·
Inertia -tendency to want to continue without disruption
·
Fear – fear of change
·
Complacency – organization structure and satisfaction with status quo
PTS: 1
4. What are the three key action that help generate extensions during innovation implementation?
ANS:
·
Knowledge sharing within the organization
·
Monitoring competencies
·
Looking for new opportunities
PTS: 1
5. Describe the main elements of diffusion.
ANS:
·
a new idea or innovation
·
information on that idea or innovation is communicated through given channels
·
this communication happens over time and in a timely manner
·
the communication is among members of a social system
PTS: 1
6. Describe the key activities necessary for alignment.
ANS:
·
build fit
·
tie rewards to achievement of awards
·
organizational structure
PTS: 1
7. What are the key concerns when trying to determine if the firm is truly tying rewards and incentives to innovation?
ANS:
·
What happens to mavericks in the firm
·
What happens to someone that fails
·
How often do employees greater emphasis on quota than innovation
PTS: 1
GIPHY App Key not set. Please check settings