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.

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