9.2 Assessing innovation

Question 1

What pressures innovation?

Accepted Answer

PESTLE changes

Question 2

Disruptive innovation is when new markets are created by discovering new groups of consumers

Accepted Answer

True

Question 3

Define Benchmarking

Accepted Answer

When a business tries to match success of another business

Question 4

Define Intrapreneurship

Accepted Answer

When an employee is entrepreneurial and takes risks

Question 5

Innovation can have significant impacts on ALL areas of an organisation

Accepted Answer

True

Question 6

Define Kaizen

Accepted Answer

The process of continuous improvement

Question 7

Define Innovation

Accepted Answer

The action or process of being creative and making changes

Question 8

What is the biggest cheque that Alan Sugar claimed he could write on National Television?

Accepted Answer

£100 M

Question 9

Why is it important to protect innovation and IP?

Accepted Answer

To prevent ideas from being stolen, To maintain competitiveness

Question 10

Who's your favourite???

Accepted Answer

Lord Sugar, President Trump

Question 11

How can innovation be implemented?

Accepted Answer

Through sharing ideas, skills, experiences and perspectives

Question 12

What may innovation be aimed at?

Accepted Answer

Products and Processes

Question 13

What is IP (in business/product terms)?

Accepted Answer

Intellectual property

Question 14

Overall, why would a car manufacturer aiming to increase competitiveness invest more in R&D?

Accepted Answer

To be innovative and stand out in the market

Question 15

Innovation requires very little money, so the finance sector of an organisation is safe

Accepted Answer

False

Question 16

What are the main benefits of innovation?

Accepted Answer

Maintains competitiveness and profitability of a business

Question 17

What type of protection can be put in place for IP?

Accepted Answer

Copyrights, Patents, Trademark

Questions 17