Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 11: Effective Innovation Plans
Chapter 1l Outline
I. Introduction: Effective Innovation Plans
II. The Innovation Plan
a. Definition
b. Planning Pitfalls
III. Benefits of an Innovation Plan
IV. The Components of an Innovation Plan
V. Preparing the Innovation Plan
VI. A Complete Assessment of the Components
VII. Organizing an Action Plan
VIII. The Action Planning Process
a. The Current Reality
b. Determining Key Actions
c. Organizing Action Clusters
IX. Summary
X. Key Terms
XI. Review and Discussion Questions
XII. Endnotes
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 11 Exam Questions
True / False Questions
1. An effective innovation plan does not need to include a marketing plan.
2. A comprehensive innovation plan is not necessary for existing organizations.
3. Bankers stress the financial aspects of the plan and place little emphasis on market, innovator or
other issues.
4. There are ten components of an innovation plan.
5. The action planning and implementation phases of an innovation plan are often the most
manageable.
6. A well done force field analysis will allow you to align the critical resources necessary for the
success of the project.
7. The last step in innovation action planning is to identify a group who also has an interest in
improving your workgroup.
8. The assessment tool can help you and your I– Team self-evaluate the innovation plan before it is
submitted to senior executives.
9. Entrepreneurs and innovators are often so in love with their ideas that they can’t understand why
everyone is not begging to help them put the idea into action.
10. The Description of the Innovation is the most important section of your innovation plan because
it has to convince the reader that the innovation will succeed
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 11 Exam Questions
Multiple Choice Questions
1. A process that allows ventures to stay on track through preparation, expectation, and dedication
to the objective.
A. Development
2. What is one of the most important qualities an innovation must have for the purpose of the
readers?
D. Comprehensive
3. The written document that details the proposed innovation and its commercial potential as a
venture.
4. According to the test, a successful innovation plan consist of how many components?
5. What section should provide background information about your industry, a general report of
your innovative concept, and the specific mission that you are trying to achieve?
Corporate Innovation
Lecture Outlines and Exam Questions
D. Harvest strategy
6. No admission of possible road blocks and no contingency or alternative plans is an indicator of
what type of pitfall?
A. No Commitment
7. What offers entrepreneurs an opportunity to self-evaluate the innovation plan as it is developed?
A. Essential, additive, obstreperous
8. The process of taking good ideas and breaking them into manageable steps that can be
accomplished and measured.
D. Activity planning
9. ________________ are all actions that relate to one another in some way.
A. Action groups
10. _____________ is the segment of planning that includes selling the business, going public and
offering stock, or merging with another business.
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 11 Exam Questions
Essay Questions
Essay 1
Discuss the common pitfalls in planning discussed in the text. What are their indicators and possible
solutions to overcome them?
Essay 2
List and describes the ten segments that make up a complete and organized innovation plan.
Corporate Innovation
Lecture Outlines and Exam Questions
Corporate Innovation
Lecture Outlines and Exam Questions
Essay 3
List and discuss the important of the ten key questions to consider when you are writing and revising an
innovation plan masterpiece
Essay 4
Corporate Innovation
Lecture Outlines and Exam Questions