Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 1: Understanding the Innovative Mindset
Chapter 1 Outline
I. Introduction: The I-Challenge
II. Innovative Thinking
III. The Concept of Innovation
a. Innovation, Creativity, and Entrepreneurship
b. Categorizing Innovation
c. Misconceptions of Innovation
IV. The Innovative Mindset in Individuals
a. The Motivation for Innovation
b. An Experiential View
c. Drivers (Sources) of Innovation
d. Mythology Associated with Innovators
e. Innovation and Stress….Beware!
f. Sources of Stress
g. Managing Stress
V. Managing Innovative Individuals
VI. Key Terms
VII. Review and Discussion Questions
VIII. Endnotes
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 1 Exam Questions
True / False Questions
1. Organizations today must continually redefine their markets, restructure their operations, and
modify their business models.
2. Due to the flexible regulatory environment in the United States, the amount of net new ventures
that have been created has increased on average for the past ten years.
3. Innovation is the process of making changes, large and small, radical and incremental, to
products, processes, and services that results in the introduction of something new for the
organization that adds value to customers and contributes to the knowledge store of the
organization.
4. Innovators must begin as inventors to truly grasp the understanding of how to be an innovative
thinker.
5. Successful innovators are considered to be high rolling gamblers.
6. It is more likely that successful innovators benefit from “entrepreneurial experiences” and
innovative education where they can learn rather than conform to a particular profile.
7. One way to relieve the insulation of the innovator’s mindset is to share experiences by
networking with other innovators.
8. Having an innovative mindset does not require a large commitment of time and energy, and will
often allow more time for family and social activities.
9. Innovators find delegation easy because they do not feel the need to be involved in every aspect
of innovation.
10. The dynamic innovative organizations of this twenty-first century will be ones that are capable of
merging strategic action with innovative action on an ongoing basis
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 1 Exam Questions
Multiple Choice Questions
1. ______________ is an opportunity-driven way of thinking, where actions are never constrained
by resources currently controlled.
2. Because we believe there is a gap between what can be imagined and what can be accomplished.
It is a time requiring____________.
3. What are the needed innovation skills to transform into an Innovative Organization?
4. What are the three major trajectories for innovation?
5. What is one of the damaging myths associated with innovation?
D. Innovators do not like to gamble
6. ________________ refers to the systematic evolution of a product or service into newer or larger
markets.
Corporate Innovation
Lecture Outlines and Exam Questions
7. What does it mean to have achievement drive?
8. The most effective source for recognizing opportunity is _______________?
9. Which of the following factors contribute to entrepreneurial stress?
10. What are the four methods of innovation?
D. None of the above
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 1 Exam Questions
Essay Questions
Essay 1
Discuss the advantages of developing a corporate innovative philosophy.
Essay 2
Describe the characteristics of seeking opportunities.
Essay 3
The entire concept of innovation conjures up many thoughts and misconceptions. It seems everyone has
an opinion as to what innovation entails. Describe some of the commonly accepted innovation
misconceptions.
Corporate Innovation
Lecture Outlines and Exam Questions
Essay 4
In order to maintain an “innovative mindset,” managers must assume certain ongoing responsibilities. List
and describe these responsibilities.