SBE330 Final Exam_9 Short Essay Questions

Short Essay Questions

(TCO 1) List the four components that describe the entrepreneurial innovation model. Which component is the most critical to success? Defend your choice.

(TCO 2) How is corporate venturing used as an aid to search for innovation opportunities? Explain the relationship of the organization’s strategic plan and vision statement to the corporate venturing methodology.

(TCO 3) Compare and contrast assembly customization with design customization. Why are efforts to maintain barriers to existing or new competitors using assembly customization of limited effectiveness?

(TCO 4) We live in an environment characterized by increasing complexity in the legal and regulatory environment as efforts are made to marry concerns about social responsibility with a responsive regulatory environment. We often see concerns in this area when we look at big business operations. Why is it important to demonstrate concern for communities in which we operate as well as comply with appropriate regulations?

(TCO 5) Explain the differences between a blue ocean strategy and a red ocean strategy. Why would a management team choose a blue ocean strategy over a red ocean strategy?

(TCO 6) Some product development activities are risky and some are more conventional. Compare and contrast conventional project management with the management of risky projects, and identify at least five differences. Of the differences between the project types identified, which difference would you rank as most significant and why would you rank the difference as such?

(TCO 7) There are at least nine components to a formal business plan for a new product. Consider four of those components: (a) product or service details, (b) market opportunity details, (c) identification of target market, and (d) competitor analysis and identification of entry barriers. Which component of the plan do you feel is the most important? Explain why the component you selected is more important than the other three components. Offer three reasons to justify your selection.

(TCO 8) When developing a marketing plan, we should consider market differentiation. What does market differentiation mean? Explain why relative quality in conjunction with market differentiation is important to our marketing effort.

(TCO 9) Products fail for many reasons, and testing can identify possible failure points before launch. When preparing a budget for product testing, explain why or why not you would invest the time and money to identify delighters, those things that make customers happy even if customers do not explicitly demand these features. If you would, what technique would you use to identify delighters?