Innovation Strategy & Implementation Flashcards
7 cards from real CPI practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Innovation Strategy & Implementation flashcards as text
What is the primary purpose of 'jobs-to-be-done' (JTBD) theory in innovation strategy?
Answer: Understanding the functional, social, and emotional progress customers seek
JTBD theory reframes innovation around the 'job' a customer hires a product to do, revealing true needs beyond surface-level feature requests.
An innovation team is struggling with 'analysis paralysis.' Which practice best helps them move forward?
Answer: Setting a time-boxed experiment with a clear learning objective
Time-boxed experiments force teams to define what they need to learn, run a quick test, and make a decision based on evidence rather than endless deliberation.
Which of the following best describes a 'two-sided market' innovation strategy?
Answer: Creating value by connecting two distinct user groups who benefit from each other
Two-sided market platforms (like Uber or Airbnb) create value by enabling interactions between two interdependent groups, each of which attracts the other.
What is 'ambidextrous innovation management'?
Answer: Simultaneously managing exploitation of existing business and exploration of new opportunities
Ambidextrous organizations build separate but integrated structures for exploiting current capabilities and exploring future opportunities without one undermining the other.
During innovation implementation, what is the main challenge of 'crossing the chasm' as described by Geoffrey Moore?
Answer: Transitioning from early adopters to mainstream market acceptance
Moore's chasm describes the gap between visionary early adopters and pragmatic mainstream customers, who have very different adoption criteria and require different marketing strategies.
Which innovation KPI is most useful for assessing whether innovation investments are generating strategic value?
Answer: Revenue from products launched in the past three years as a percentage of total revenue
New product revenue as a percentage of total revenue directly links innovation investment to commercial outcomes and strategic growth.
What does 'ecosystem innovation' require that firm-centric innovation does not?
Answer: Co-creating value with partners, suppliers, and customers across an interdependent network
Ecosystem innovation demands orchestrating value creation across multiple independent actors whose contributions are interdependent, requiring trust, shared standards, and governance.