Managing the Front End of Innovation (Technology & Innovation)

Karteikarten und Zusammenfassungen für Managing the Front End of Innovation (Technology & Innovation) an der LMU München

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Lerne jetzt mit Karteikarten und Zusammenfassungen für den Kurs Managing the Front End of Innovation (Technology & Innovation) an der LMU München.

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

What is the difference between a firms Business strategy and innovation strategy?

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

What are FEI Metrics? What are they supposed to be doing?

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

How can Non-Experts (Users) help during Idea/Concept generation and selection?

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Why would a firm decide to have a centralised innovation ownership? What does that even mean?

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Name and explain 5 different types of prototypes.

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Give a definition of Innovation.

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Give a definition of the Front End of Innovation.

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Define lead users

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

What is the difference between primary and secondary research?

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Why are lead users important?

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Define intuitive methods

Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Define logical methods

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Beispielhafte Karteikarten für Managing the Front End of Innovation (Technology & Innovation) an der LMU München auf StudySmarter:

Managing the Front End of Innovation (Technology & Innovation)

What is the difference between a firms Business strategy and innovation strategy?
Business strategy –> day to day management
Innovation Strategy –> Long Term

–> In many companies (54% struggle to find the gap between them) these go together –> wrong!

Managing the Front End of Innovation (Technology & Innovation)

What are FEI Metrics? What are they supposed to be doing?
Metrics are a repeated assesments of performance, that is supposed to guide descisions and is tied to sertain incentives
–> supposed to be a tool to evaluate the success of projects
–> Metrics determine actions and decisions and are good only if they also improve long-term desired outcomes
–> they don’t affect the outcomes directly! They affect long-term outcomes indirectly through Actions & Decisions of the employees

Metrics will mostly just manifest in „Soft-Metrics“ that translate directly from the firms culture!

Managing the Front End of Innovation (Technology & Innovation)

How can Non-Experts (Users) help during Idea/Concept generation and selection?
To answer that we have to differentiate between Technically Skilled Users and Technically Naive Users.

Technically naive users overestimate across screening criteria like Originality, User value or Producubility (ease of implementation) in absolute terms.

Conclusion:
–> Technically skilled users work better as Proxies for Experts in Concept Screening and Selection
–> greater consensus among users and professionals in Incremental innovations than radical innovations

Managing the Front End of Innovation (Technology & Innovation)

Why would a firm decide to have a centralised innovation ownership? What does that even mean?
Why?
The Organic growth of firms demands radical innovation.
–> Process needed because that’s difficult –> Ongoing operations seek to: minimize variation, exploit the known, develop repeatable processes

Centralized innovation ownership allows for:
– strategic investment and – strategic leadership

How?
Centralized innovation ownership must:
– encourage learning, experimentation, and multiple paths to the market
– consider issues of culture and leadership, governance and decision making, skills and talent development, processes and tools, metrics and organizational structure

We got to know two models to realise Centralized Innovation Ownership:
– Governance Model
– Innovation Centers

Managing the Front End of Innovation (Technology & Innovation)

Name and explain 5 different types of prototypes.
Conceptual:
1. Internal team communication
–> is everybody in the team on the same page? Is further market research nescessary?
2. External communication
–> e.g. Concept Paper with a description of the product, user benefits and technological features (also maybe a conceptual drawing)

Behavioral:
Reveal behavior through active use and engagement with potential users. (e.g. McDonalds Pre-ordering thingy)

Procedural:
Technical procedures and diagrams of flow. (e.g. rethinking the whole airport system)

Appearance & Functional:
Track the user’s ability to understand and interact with the design. –> iterative process of continuously developing better versions of the product until it fits the customers usage perfectly (e.g. bicycle seat or garden sprayer)

Managing the Front End of Innovation (Technology & Innovation)

Give a definition of Innovation.
Innovation is the identification and production of new or improved solutions.
–> Involving the Process/People/Output

Innovation is not = Creativity –> Innovation is about execution

Managing the Front End of Innovation (Technology & Innovation)

Give a definition of the Front End of Innovation.
The identification and assessment of problems to solve and solution alternatives
–> work that is done toward developing a product before that project enters into the formal product development system.
–> Concernes Pre-development Activities

Managing the Front End of Innovation (Technology & Innovation)

Define lead users
Capability for innovation (being ahed of the market)

Managing the Front End of Innovation (Technology & Innovation)

What is the difference between primary and secondary research?
Primary research:
Is research conducted for a specific purpose.
–> Building an understanding of the problem space.
–> e.g. Surveys, Interviews, Focus Groups, Observations –> more used in the early stages of FEI
–> Mostly a lot of Skill nescessary to Conduct a good Interview e.g. or Focus Group –> a lot of inherent flaws to be aware of

Secondary research:
Makes use of information previously researched for other purposes and may be publicly available.
–> Provides a understanding of the broader problem space.
–> e.g. already conducted surveys, Published Articles ect.

Managing the Front End of Innovation (Technology & Innovation)

Why are lead users important?
Motivation for innovation (high innovation-related benefits)

Managing the Front End of Innovation (Technology & Innovation)

Define intuitive methods
Use mechanisms to break what are believed to be mental blocks.

Managing the Front End of Innovation (Technology & Innovation)

Define logical methods
Involve systematic decomposition and analysis of the problem

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