Measure Your Value Creation Capabilities Posted on April 6, 2018 by Curt 1. The mean lifetime of the top 500 U.S. companies today is: Under 15 years 15 - 25 years 25 - 50 years 50 - 75 yearsHint2. Many technologies are improving at what rate? Not at all Linearly Quadratically ExponentiallyHint3. A useful definition for "innovation" is: Something clever A patented device New customer value in the marketplace with a viable business model A novel product design that people think is coolHint4. What's the definition for "customer value"? Benefits / Costs Benefits - Costs Benefits x Costs Benefits + CostsHint5. The definition of a "value proposition" is: The value you offer A proposal that summarizes your customer value An unmet customer and market Need addressed by an Approach, including a defensible offering and viable business model, that provides compelling Benefits/Costs when compared to the Competition and alternatives Your ideaHint6. All significant new innovations should be: Complicated to explain Expensive Hard to use SurprisingHint7. After you have a working hypothesis for your innovation's value proposition, you: Assume your value proposition is perfect Build the complete product or solution Work first to eliminate major points of risk Rent expensive space with ping pong tables and bean bags Hint8. Does your enterprise teach all employees how to be value creators? No. Management yells at us to be more creative Not sure Yes, but I can't remember what they taught Yes. We can describe it and we use itHint9. When starting a new innovation what do you do first? Build the product Understand your important unmet customer and market need Hire a complete team Sit at your computer and write a 250 page business planHint10. "Unknown" customer needs are: Impossible to understand Based on fundamental human needs, such as convenience, elegant design, and higher meaning Best discovered in focus groups Identified by searching on the WebHint11. A viable business model is: A way to assure the offering does not go away A way to make money and an acceptable RoI Achievable with voluntary support Required for all non profit enterprises All the aboveHint12. Where is the best place to compete? Where there is little competition Where you have the capability to address an unmet need Where there is an important customer and market need All the above Hint13. Fraction of your team who should be able to define what a "value proposition" is: 10% 30% 60% 100%Hint14. Value creation requires what intensity of collaborative iteration? Give a talk to the team every year on your part Meet four times a year Iterate daily in some form and every few weeks in team value-creation forums Interact every other week by emailHint15. In forming value creation teams, which attribute is least important? Shared vision Title Shared rewards Unique, complementary skills and rolesHint16. In an enterprise who can be a value creator? A few technical and business staff Senior management Everyone A few selected professional staffHint17. Which of the following is not required to obtain a U.S. patent? Useful Profitable Non-obvious New LegalHint18. Which of these is true? Innovation only comes from either a lone genius or luck Asking management for forgiveness after the fact The use of value creation best practices makes systematic innovative success more likely Never share with your colleagues your ideas until they are perfectHint19. These team behaviors help assure productive collaboration: Respect Integrity Trust Generosity of sprit All the aboveHint20. Do value-creation methodologies based on fundamental team practices: Limit creativity Not apply to innovation Unleash the creative genius of the enterprise Discourage collaborationHint21. Who created Siri, HDTV, Intuitive Surgical, and the fundamentals of the personal computer interface, including the computer mouse? Apple SRI International Xerox PARC MicrosoftHint22. In surveys of companies, which of these is not one of the top-five barriers to innovation? Limited customer insight Long development times Incompetent staff Selecting the right ideas Risk adverse culture Lack of colaborationHint23. A value creation champion can lack the following: Passion Value-creation skills Seniority PersistenceHint24. What practices hurt a team's ability to be successful value creators? Not allowing staff to get information from colleagues in different groups Politics No continuous improvement process A culture of not invented here (NIH) Staff who are uncommitted to the vision All the aboveHint25. In what areas of society are new innovations possible? Education On-line services Government Art Manufacturing systems All the aboveHint0 Name: Email: Related
