[Solution] Innovation in the Organization
Created at:
Author: Emily Carter
Unless it develops new products and services, an organization will eventually fall behind its competition. Innovation is the managed effort of an organization to develop new products or services or new uses for existing products or services.
Select the correct response to the following question about the innovation process life cycle.
In which stage of the innovation process does the organization determine whether the innovation can be made into a product or service and delivered to customers?
- Development
- Application
- Growth
- Launch
- Decline
View Explanation
The innovation process generally begins with development and proceeds to the application stage, in which the organization tries to incorporate the creative idea in a product, service, or process. If the innovation passes this stage, the next step is to try to launch a product/service that includes the innovation on the market.
Select the terms that best complete the following sentence.
An innovation that completely replaces an existing product or service is a innovation, while an innovation that modifies an existing product or service is an innovation.
View Explanation
Radical innovations completely replace existing products, services, or technologies. Incremental innovations modify existing products, services, or technologies.
Which of the following conditions tend to promote innovation in organizations? Check all that apply.
- Payment and other recognition for creative ideas
- Hiring people who are very similar to the current employee population
- A culture that encourages creativity and risk taking
- Large size with numerous departments
View Explanation
One factor that tends to promote innovation is a reward system that confers pay raises, bonuses, and other things of value on employees who come up with creative ideas of merit.
An organization's culture can also support innovation.
Another approach to innovation is intrapreneurship, or the creation of roles in the organization that develop new ideas and bring them to market.
