Title: Innovation
Course: Worthington: Introduction to Innovation - Commercialisation and Entrepreneurship in Technology

Questions on innovation terms, mostly drawn from OECD/Eurostat (2005).

Q: The OECD/Eurostat (2005, pp. 47-51) identifed four types of innovations:
- "... introduction of a good or service that is new or significantly improved with respect to its characteristics or intended uses. This includes significant improvements in technical specifications, components and materials, incorporated software, user friendliness or other functional characteristics." | Product innovation
- "... is the implementation of a new or significantly improved production or delivery method. This includes significant changes in techniques, equipment and/or software." | Process innovation
- "... is the implementation of a new marketing method involving significant changes in product design or packaging, product placement, product promotion or pricing." | Marketing innovation
- "... is the implementation of a new organisational method in the firm’s business practices, workplace organisation or external relations.” | Organisational innovation
If wrong: The OECD/Eurostat (2005, pp. 47-51) identifed four types of innovations.
  Hint: The OECD/Eurostat (2005, pp. 47-51) identifed four types of innovations.

Q: In terms of the OECD's defintions (2005, p. 58), does innovation have to be profitable for a firm to be successful?
- Yes, if the change was not commercially successful, then it is not an innovation.
- No, provided the chnage was implementated it is consdiered a success.
A: No, provided the chnage was implementated it is consdiered a success.
If wrong: The (OECD/Eurostat, 2005, p. 58) define the innovative firm as one which "... has implemented at least one innovation ...Successful in having resulted in the implementation of an innovation (although the innovation need not have been commercially successful)."
  Hint: See OECD/Eurostat ( 2005, p. 58).

Q: Which steps are Innovation activities, which actually, or are intended to, lead to the implementation of innovations? (OECD/Eurostat, 2005, p. 47)
- Scientific
- Technological
- Organisational
- Financial
- Commercial
A: Scientific; Technological; Organisational; Financial; Commercial
If right: See OECD/Eurostat (2005, p. 47).
If partly right: Yes, but there are other Innovation activities (OECD/Eurostat, 2005, p. 47).
  Hint: See OECD/Eurostat (2005, p. 47).

Q: What is the term for an innovation that has a significant impact on a market (OECD/Eurostat, 2005, p. 58)?
A: Disruptive / Radical
Feedback ("Disruptive"): Yes, or "Radical".
Feedback ("Radical"): Yes, or "Disruptive".
  Hint: See OECD/Eurostat, 2005, p. 58.

Q: According to the OECD (2005) innovation includes ...
- Product (good or service),
- Process
- New marketing method
- New organisational method
- Purchase of software.
- Purchase of hardware
A: Product (good or service),; Process; New marketing method; New organisational method
If partly right: Innovation can be one of four types (OECD/Eurostat, 2005, p. 46).
  Hint: Innovation can be one of four types (OECD/Eurostat, 2005, p. 46).

Q: Match the term to its definition:
- "A product, process, marketing method or organisational method may already have been implemented by other firms ..." | New to the firm
- "... when the firm is the first to introduce the innovation on its market. The market is simply defined as the firm and its competitors and it can include a geographic region or product line." | New to the market
- "... when the firm is the first to introduce the innovation for all markets and industries, domestic and international. New to the world therefore implies a qualitatively greater degree of novelty than new to the market." | New to the world
If partly right: OECD/Eurostat (2005, pp. 57-58) points out that innovation requires some degree of novelty and distinguishes three categories.
  Hint: OECD/Eurostat (2005, pp. 57-58) points out that innovation requires some degree of novelty and distinguishes three categories.