SPMT 462 Final Exam Latest Update
Transient Advantage - ANSWER It involves a view of strategy that is less
industry-bound and more customer-centric
Risks of transient advantage - ANSWER -I don't buy my own company's
products or services.
-We're investing at the same or higher levels and not getting better margins
or growth in return.
-Customers are finding cheaper or simpler solutions to be "good enough."
-Competition is emerging from places we didn't expect.
-Customers are no longer excited about what we have to offer.
-We're not considered a top place to work by the people we'd like to hire.
-Some of our very best people are leaving.
-Our stock is perpetually undervalued.
Responding to customers - ANSWER The notion of transient competitive
advantage in business is less about making money and more about XXX
Empire building trap - ANSWER this system promotes hoarding,
bureaucracy building, and fierce defense of the status quo; it inhibits
experimentation, iterative learning, and risk-taking
, Sporatic innovation trap - ANSWER innovation is an on-again, off-again
process that is driven by individuals, making it extraordinarily vulnerable to
swings in the business cycle
True - ANSWER Companies in high-velocity industries must learn to cycle
rapidly through the stages of
competitive advantage
Arenas - ANSWER A new playbook based on transient advantage
encourages companies to make a shift from industry-level analyses and
instead orchestrating competitive moves in XXX, which encompass a
combination of a customer segment, an offer, and a place in which that
offer is delivered.
False - ANSWER According to a McKinsey survey, 94% of executives are
satisfied with their firms' innovation performance
five key behaviors that most innovative organizations exhibit - ANSWER -
They always assume there's a better way to do things
-They focus on deeply understanding customers; stated and unstated
needs and desires
-They collaborate across and beyond the organization
-They recognize that success requires experimentation
-Empower people to take considered risks, voice opinions and seek
needed resources
Effective ways of boosting innovation - ANSWER -Questioning the Status
Quo
-Focusing intensely on customers
-Collaborating better
Innovation - ANSWER introduction of new goods or services or
improvement in offering goods or services
Transient Advantage - ANSWER It involves a view of strategy that is less
industry-bound and more customer-centric
Risks of transient advantage - ANSWER -I don't buy my own company's
products or services.
-We're investing at the same or higher levels and not getting better margins
or growth in return.
-Customers are finding cheaper or simpler solutions to be "good enough."
-Competition is emerging from places we didn't expect.
-Customers are no longer excited about what we have to offer.
-We're not considered a top place to work by the people we'd like to hire.
-Some of our very best people are leaving.
-Our stock is perpetually undervalued.
Responding to customers - ANSWER The notion of transient competitive
advantage in business is less about making money and more about XXX
Empire building trap - ANSWER this system promotes hoarding,
bureaucracy building, and fierce defense of the status quo; it inhibits
experimentation, iterative learning, and risk-taking
, Sporatic innovation trap - ANSWER innovation is an on-again, off-again
process that is driven by individuals, making it extraordinarily vulnerable to
swings in the business cycle
True - ANSWER Companies in high-velocity industries must learn to cycle
rapidly through the stages of
competitive advantage
Arenas - ANSWER A new playbook based on transient advantage
encourages companies to make a shift from industry-level analyses and
instead orchestrating competitive moves in XXX, which encompass a
combination of a customer segment, an offer, and a place in which that
offer is delivered.
False - ANSWER According to a McKinsey survey, 94% of executives are
satisfied with their firms' innovation performance
five key behaviors that most innovative organizations exhibit - ANSWER -
They always assume there's a better way to do things
-They focus on deeply understanding customers; stated and unstated
needs and desires
-They collaborate across and beyond the organization
-They recognize that success requires experimentation
-Empower people to take considered risks, voice opinions and seek
needed resources
Effective ways of boosting innovation - ANSWER -Questioning the Status
Quo
-Focusing intensely on customers
-Collaborating better
Innovation - ANSWER introduction of new goods or services or
improvement in offering goods or services
