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WorksheetsINNOVATION MANAGEMENT 2
Total questions: 20
Worksheet time: 20mins
Operation management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services
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If the organization makes improper operations decisions, it will be able to produce affordable, functional, and attractive output that customers will purchase at a price that will earn profits for the company.
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Operations management leads to low quality management, which enables product and service quality enhancement.
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Along with quality management taking care of product quality, it will also ensure for customer needs to be met. The system will provide a methodology to utilize in order to create a desired consumer product.
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With increased product quality and consumer satisfaction, this will give the company a positive reputation within the industry. Overall, this will lead to a revenue increase and enable the company to continue to grow.
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A TQM is a method of assessing the differences in performance between a business' information systems or software applications to determine whether business requirements are being met and, if not, what steps should be taken to ensure they are met successfully.
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Gap analysis is defined as a set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements needed to maintain an efficient quality system.
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Intellectual property refers to creations of the mind: invention, literary, artistic and musical works, and symbols, images and designs used in commerce.
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Copyrights is used as a marketing tool to enable customers in recognizing the product of a particular trader.
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The symbol ® denotes that the trademark is registered and protected under trademark law. The sign ™ merely gives an indication that the trademark is used by the company.
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The unregistered symbol informs everyone who looks at your trademark of its registration. You can sue another party who is using your mark without your consent, no matter what state the infringement occurs in.
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The goal of a brand name is to provide an easy way to recognize and remember the name that evokes a positive response in consumers.
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Copyright is the exclusive right given to the owner of a copyright work for a specific period. Copyright protection in Malaysia is governed by the Copyright Act 1997.
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A trademark provides legal protection of the brand name and by registration, the company is able to seek legal action against others who copy or use the brand without permission.
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Learning innovation projects take people. They require a long-term commitment on the part of the school to experiment, learn, and adapt.
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Micro perspective is focusing on society while macro perspective focusing on organization and employees.
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Competitive advantage in micro perspective means the necessary advancements in capabilities that provide an edge in comparison to competitors of the industry.
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The first step in the strategy choice cascade is to define your winning aspiration. In other words, your innovation objectives and the why behind your innovation strategy.
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The final step in the strategy choice cascade is defining the right playing field, as in, the market you’re operating in and the customer segment you’re offering value for.
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Innovation strategy isn’t about innovation tactics, such as setting up an idea challenge, but more about mapping organization’s mission, vision and value proposition for defined customer markets.
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