Model Answer To Mock Exam 2 1

Topics: Innovation, Technology, New product development Pages: 2 (609 words) Published: March 25, 2015
The question was: DESCRIBE AND CRITICALLY ASSESS THE ORGANISATION’S RESPONSE TO THE FOUR FUNDAMENATAL DILEMMAS OF INNOVATION AND RECOMMEND OPTIONS FOR IT TO RESPOND TO DISRUPTIVE INNOVATION

Students should be able to explain the type, nature and focus of innovatory activity at FeedHenry. They should recognise key innovation dilemmas facing the enterprise, based on their stage of development and strategic objectives. So a first class answer will locate the company based on what stage of development this company & industry are in (eg industry life cycle diagram p 52; and in terms of the diffusion S-curve diagram p 306)

STUDENTS SHOULD BE ABLE TO IDENTIFY THE BUSINESS MODEL OF THE CO. AND THINK THROUGH WHAT TYPE OF PRODUCT OR SERVICE THEY ARE OFFERING & THE WAY IT IS DISTRIBUTED – AS WELL AS DIRECTLY ANSWERING THE QUESTION. So they should be able to identify that FH is not innovating in terms of business model but more in terms of the technology they are offering.

Innovation dilemmas facing FeedHenry: The students should have been able to identify the highlighted portion and provide evidence for their argument as in “key dilemmas faced”. Other evidence is acceptable if they make a case for it!

FeedHenry
Key dilemmas faced:

Focus of innovation
Predominantly
technology–push

Need to find balance between technology
push and market pull
When to integrate market/user feedback and
involvement at stages of innovation process
Open innovation could be appropriate as
business develops?
Seek out early adopters/lead users to build
close relationships and encourage feedback

Nature/Type of
innovation

Product innovation
Formulating an appropriate business model to
exploit technology products
Finding key personnel to continuously develop
and innovate new products
Utilisation of competences of firm to best
advantage
Maintain a culture of entrepreneurship and
innovation in expanding firm
Develop appropriate processes to match their...
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