Innovation Management Quiz

What is the key feature of component innovation?

• Use of new or different components

• Use of new marketing methods

• Development of new products

• Recreation of a business model

What does service innovation focus on?

• Creating social relationships

• Improving employee performance

• Developing new technologies

• Identifying customer desires

What is the main goal of marketing innovation?

• Creating new social relationships

• Big changes in how products are designed

• Improving customer service

• Implementation of novel marketing concepts

What does organizational innovation focus on?

• Improving customer relationships

• Creating new products

• Developing new technologies

• Managing work processes

What is the main characteristic of social innovation?

• Resolving social situations

• Creating new products

• Developing new technologies

• Improving customer service

What does business model innovation refer to?

• Improving customer service

• Recreation of a business model

• Development of new products

• Creating social relationships

What is an example of business-model innovation?

• Component innovation

• Loyalty Programs

• Customer Support

• Subscription models

What is the application of product innovation?

• Developing new technologies

• Improving employee performance

• Creating new social relationships

• Throughout the entire life cycle of an existing product

What is the importance of process innovation for businesses?

• To develop new technologies

• To increase the number of products produced

• To reduce the cost per produced product

• To improve customer service

How can organizations apply process innovation?

• Decrease production or delivery unit costs

• Create new social relationships

• Develop new products

• Increase the quality and efficiency of a process