CS-803-D Managing Innovation and Entrepreneurship - May 2024 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
   aExplain 4 P's of innovation with their examples.
   How to answer

   • Define 4Ps framework: Product, Process, Position, Paradigm
   • Explain each P with characteristics
   • Give one example for each P
   • Link to innovation management relevance
2. 7 Marks
   bDefine innovation. Explain different type of innovation.
   How to answer

   • Define innovation
   • Distinguish invention vs innovation
   • Explain types: product, process, position, paradigm / incremental, radical, disruptive
   • Give examples for each type
3. 7 Marks
   a"Innovation arises from knowledge push". Discuss briefly.
   How to answer

   • Explain knowledge push as source of innovation
   • Role of R&D, science and technology push
   • Contrast with market pull
   • Give examples and implications
4. 7 Marks
   bWhat is NUF test? How and when to use it?
   How to answer

   • Define NUF test: New, Useful, Feasible
   • Explain scoring criteria
   • Explain how to apply it
   • Explain when to use in idea screening
5. 7 Marks
   aDefine open and close principal in innovation.
   How to answer

   • Define open innovation principle
   • Define closed innovation principle
   • Compare key characteristics
   • Give examples of each
6. 7 Marks
   bExplain stage gate method for accelerating idea to market in detail.
   How to answer

   • Define stage-gate method
   • Explain stages and gates structure
   • Detail steps from idea to launch
   • Explain benefits for accelerating idea to market
7. 7 Marks
   aBriefly explain "Six Thinking Hats as idea generation".
   How to answer

   • Introduce Six Thinking Hats by de Bono
   • Explain each hat colour and thinking mode
   • Explain use as idea generation tool
   • Give example of application
8. 7 Marks
   bExplain innovation process model in detail.
   How to answer

   • Define innovation process model
   • Explain phases: search, select, implement, capture
   • Describe feedback loops
   • Link to managing innovation
9. 7 Marks
   aExplain Technology Push and Market Pull Innovation in detail.
   How to answer

   • Define Technology Push innovation
   • Define Market Pull innovation
   • Compare drivers, risks and examples
   • Explain implications for strategy
10. 7 Marks
    bWhat is the importance of open innovation? Explain it limitation and benefits for business development.
    How to answer

    • Define open innovation and its importance
    • Explain benefits for business development
    • Explain limitations and risks
    • Conclude with balanced use
11. 7 Marks
    aHow proactive strategy in different from active strategy? Discuss.
    How to answer

    • Define proactive strategy
    • Define active / reactive strategy
    • Differentiate on timing, risk, leadership
    • Give examples and discuss suitability
12. 7 Marks
    bExplain financial and non financial matrices of innovation for business.
    How to answer

    • Define innovation metrics
    • Explain financial metrics: ROI, revenue, cost
    • Explain non-financial metrics: patents, satisfaction, time to market
    • Explain use for business evaluation
13. 7 Marks
    aHow to do post audits of innovation projects?
    How to answer

    • Define post audit of innovation projects
    • Explain steps: objectives, data collection, review
    • Explain learning and corrective actions
    • Mention timing and responsibility
14. 7 Marks
    bHow does the business have innovation failures? Explain its causes.
    How to answer

    • Define innovation failure
    • Explain common causes: market, technology, management, finance
    • Explain process failures
    • Suggest avoidance measures
15. 14 Marks
    Write short note on :

    1. a)Agile Management
    2. b)Role of co-creation in innovation
    3. c)Innovative Models
    4. d)Limitation of Open Innovation
    How to answer

    • Define Agile Management and principles
    • Explain co-creation role in innovation
    • Explain innovative models types
    • Explain limitations of open innovation