Leading with Innovation Quiz

Internal Quiz

Question 1 of 13 Which of the following is NOT part of the core logic of innovation?

• creation of variety

• scaling up of the best ideas

• brutal selection from among the many options

• repeating the word innovation again and again

repeating the word innovation again and again

Question 2 of 13 Why do most organizations often stumble at innovation?

• baggage of past success

• fear of cannibalization

• all of these answers

• an excessive focus on maximizing efficiency

all of these answers

Question 3 of 13 Why is collaborative innovation becoming increasingly necessary?

• all of these answers

• No company can master all of the necessary technologies and stay ahead.

• Most products now require an integration of multiple technologies.

• Rapid pace of technology development.

all of these answers

Question 4 of 13 Which of the following is NOT an element of the “Design Thinking” process?

• focusing on aesthetic beauty above all else

• putting the user at the center

• focusing on not just what the user says but also how he or she thinks, behaves, and feels

• aiming for “zero distance” between the company and the user

focusing on aesthetic beauty above all else

Question 5 of 13 What is the core logic behind the “lean startup” process?

• Conduct lots of experiments.

• Think of the term “lean” as eliminating wasted time, effort, and resources.

• Design each experiment to answer a specific question.

• all of these answers

all of these answers

Question 6 of 13 Which of the following would be a poor approach to foster creativity without risking chaos?

• urging creativity while also severely punishing any failure

• setting up well-defined sandboxes for innovation

• investing in deeper understanding of customers’ needs

• engaging routinely and actively with young startups

urging creativity while also severely punishing any failure

Question 7 of 13 Which of the following would be a BAD idea in a dramatic reimagining of the target customer (e.g., when Apple launched the PC aimed at individual users)?

• Analyze why these customers remain unserved.

• Brainstorm business model changes to make them relevant customers.

• Identify currently unserved markets/customer segments.

• Ignore eventual profitability.

Ignore eventual profitability.

Question 8 of 13 What’s the best approach to pursue collaborative innovation?

• Cultivate trust while keeping a watchful eye.

• Agree upfront about contributions, ownership, and decision-making.

• Partner with people or organizations who bring complementary capabilities.

• all of these answers

all of these answers

Question 9 of 13 What is a key element of social innovation?

• all of these answers

• ensuring financial viability for the user as well as your organization

• a novel solution to an important but underserved social problem

• factoring in how the product or service would be used in real-life contexts

all of these answers

Question 10 of 13 What does frugal innovation (think of Southwest Airlines) refer to?

• offering copycat products or services at somewhat lower prices

• creating products or services that are cheap and ignoring everything else

• acting tough with suppliers and employees to drive the cost down

• designing an ultra-low-cost business model by eliminating “waste” across the entire system

designing an ultra-low-cost business model by eliminating “waste” across the entire system

Question 11 of 13 What must you NOT do when figuring out how to dramatically re-engineer the industry’s value chain?

• Ignore the impact of transforming some activities on other related activities.

• Focus especially on activities with the biggest impact on total cost or delivered customer value.

• Examine how technology could dramatically transform the entire value chain (or a part of it).

• Map out the entire value chain from one end to the other.

Ignore the impact of transforming some activities on other related activities.