CS-803-D Managing Innovation and Entrepreneurship - Jun 2025 Question Paper

Under each question, How to answer lists the points an answer should cover, outlined by CampusPrep from the syllabus. Check the details against your textbook.

1. 7 Marks
   aWhat is Innovation? Describe various types of Innovation.
   How to answer

   • Define innovation as implementation of new/improved product, process, or method
   • Distinguish invention vs innovation
   • Describe types: product, process, marketing, organizational / incremental, radical, disruptive, architectural
   • Give examples for each type
2. 7 Marks
   bHow innovation does create competitive advantage? Elaborate.
   How to answer

   • Define competitive advantage: cost leadership, differentiation
   • Explain how innovation creates value, barriers to imitation
   • Discuss first-mover advantage, IP, brand and customer lock-in
   • Give business examples
3. 7 Marks
   aWhat is the difference between knowledge push and need pull innovation?
   How to answer

   • Define knowledge/technology push: R&D driven innovation
   • Define need/market pull: demand/customer-need driven innovation
   • Compare source, risk, examples on key basis
   • Conclude with combined interaction model
4. 7 Marks
   bDefine agile management. Why it is important in innovation?
   How to answer

   • Define agile management: iterative, flexible, customer-centric approach
   • List principles: sprints, cross-functional teams, rapid feedback
   • Explain importance for innovation: speed, adaptability, risk reduction
   • Give example of agile in new product development
5. 7 Marks
   aDefine open innovation. Explain the benefits and limitations of open innovation for business development.
   How to answer

   • Define open innovation: inbound and outbound flows of ideas
   • Explain benefits: access to external knowledge, cost sharing, speed
   • Explain limitations: IP leakage, coordination cost, dependency
   • Conclude relevance for business development
6. 7 Marks
   bElaborate in detail stage gate method for accelerating idea to market.
   How to answer

   • Define stage-gate method for idea-to-launch
   • Describe stages and gates: scoping, business case, development, testing, launch
   • Explain gate criteria, go/kill decisions
   • Discuss benefits in accelerating idea to market
7. 7 Marks
   aWhat is human centered innovation? How it is applied?
   How to answer

   • Define human-centered innovation / design thinking
   • Describe principles: empathy, user needs, prototyping
   • Explain application steps: empathize, define, ideate, prototype, test
   • Give product/service example
8. 7 Marks
   bDefine elements of an effective innovation strategy process.
   How to answer

   • Define innovation strategy process
   • List elements: vision, leadership, culture, resources, processes, metrics
   • Explain role of each element in effectiveness
   • Link to sustained innovation performance
9. 7 Marks
   aWhat is innovation failure? Explain the various causes of innovation failure.
   How to answer

   • Define innovation failure: failure to meet technical, market or financial goals
   • Explain causes: poor market understanding, over-engineering, lack of resources
   • Discuss organizational and external causes
   • Conclude with learning from failure
10. 7 Marks
    bDifferentiate between financial and non-financial metrics.
    How to answer

    • Define financial metrics: ROI, NPV, revenue from new products
    • Define non-financial metrics: patents, time-to-market, customer satisfaction
    • Differentiate on purpose, measurement, time horizon
    • Give examples of use in innovation audit
11. 7 Marks
    aDefine marketing innovation. Explain the different types of innovation with example.
    How to answer

    • Define marketing innovation per Oslo Manual
    • Explain types with examples: product design, pricing, placement, promotion
    • Give company examples for each type
    • Link to competitive advantage
12. 7 Marks
    bExplain in detail about Six Thinking Hats as idea generation.
    How to answer

    • Define Six Thinking Hats as parallel thinking tool by Edward de Bono
    • Describe six hats: white, red, black, yellow, green, blue with roles
    • Explain use in idea generation and decision making
    • Give example session flow
13. 7 Marks
    aWhat is the innovation process of the company? Explain the steps of innovation process.
    How to answer

    • Define company innovation process from idea to commercialization
    • List steps: idea generation, screening, concept development, testing, launch
    • Explain activities and decisions at each step
    • Emphasize feedback and iteration
14. 7 Marks
    bDescribe in detail the role of co-creation in the innovation process?
    How to answer

    • Define co-creation with customers/partners
    • Explain role: insight generation, prototyping, validation
    • Discuss benefits: reduced risk, higher acceptance, faster adoption
    • Give examples of co-creation platforms
15. 7 Marks
    aWhat are post-audits of innovative projects? What to consider when conducting an innovation audit?
    How to answer

    • Define post-audit and innovation audit
    • Explain purpose: learning, accountability, improvement
    • List considerations: objectives, criteria, team, data, follow-up
    • Conclude with use for future projects
16. 7 Marks
    bHow proactive strategy is different from active strategy? Discuss.
    How to answer

    • Define proactive strategy: anticipating future trends, first-mover
    • Define active/reactive strategy: responding to current competition
    • Differentiate on timing, risk, innovation focus
    • Discuss with examples when each is suitable