WGU - D081 INNOVATIVE AND STRATEGIC THINKING UPDATED QUESTIONS
AND CORRECT ANSWERS
Question:
1. Initiative
Answer:
An organizational priority that identifies a direction or strategic area of focus
Question:
2. Innovation
Answer:
Process of developing and implementing a new product or process that delivers value to users or
customers
Question:
3. Iterative
Answer:
Repeated cycles that increasingly approach the desired result
Question:
4. Creativity
Answer:
Generation of novel or unique ideas
Question:
5. Critical Thinking
Answer:
Disciplined process of rational, evidenced-based, and open-minded thinking that involves
analysis and evaluation of inputs to reach an answer
Question:
6. Market Share
Answer:
The percentage of sales in a market controlled by a particular company or product
Question:
7. Customer Value
Answer:
The benefit (vs. cost) a customer receives from a product or service offering
Question:
8. Product Innovations
Answer:
,New or improved goods or services offered to the market
Question:
9. Process Innovations
Answer:
New or improved ways of conducting business, such as the application of new technology,
production techniques, or distribution methods
Question:
10. Invention
Answer:
The creation of a unique new idea, process, or object
Question:
11. Which type of innovation adds indirect value to customers by lowering costs and
increasing the quality of new or existing products or services?
Answer:
Process
Question:
12. Research and Development
Answer:
Organizational activities with the goal of innovating products and services
Question:
13. Incremental Innovations
Answer:
Gradual improvements to products or processes
Question:
14. Breakthrough Innovation
Answer:
The development of an entirely new product or process
Question:
15. Transformational Innovation
Answer:
Organizational adaptation and development of new processes and business models
Question:
16. Business Model
Answer:
A company's plan for creating value, including the types of products and services it will offer to
earn revenue
, Question:
17. Which type of innovation results in the development of entirely new products or
processes?
Answer:
Breakthrough
Question:
18. Key Point
Answer:
Innovation is an activity or process that leads to more effective products, processes, services,
technologies, or ideas. Innovation is the development of customer value through solutions that
meet unmet needs in new ways.
Question:
19. Key Point
Answer:
Creativity is the generation of new ideas. Innovation is the development and implementation of a
new idea through a series of stages.
Question:
20. Key Point
Answer:
Three types of innovation include breakthrough, incremental, and transformational.
Breakthrough innovation results in the development of completely new products or processes.
Incremental innovation occurs through gradual improvements. Transformational innovation
radically changes an existing product or process into a new model.
Question:
21. Design Thinking
Answer:
A human-centered process for innovation consisting of six iter- ative stages—empathize, define,
ideate, prototype, test, and implement
Question:
22. Scientific Method
Answer:
Empirical approach or procedure used to hypothesize and test observations
Question:
23. Wicked Problem
Answer:
A challenging or complex problem without a clear solution, usually social or cultural in nature
AND CORRECT ANSWERS
Question:
1. Initiative
Answer:
An organizational priority that identifies a direction or strategic area of focus
Question:
2. Innovation
Answer:
Process of developing and implementing a new product or process that delivers value to users or
customers
Question:
3. Iterative
Answer:
Repeated cycles that increasingly approach the desired result
Question:
4. Creativity
Answer:
Generation of novel or unique ideas
Question:
5. Critical Thinking
Answer:
Disciplined process of rational, evidenced-based, and open-minded thinking that involves
analysis and evaluation of inputs to reach an answer
Question:
6. Market Share
Answer:
The percentage of sales in a market controlled by a particular company or product
Question:
7. Customer Value
Answer:
The benefit (vs. cost) a customer receives from a product or service offering
Question:
8. Product Innovations
Answer:
,New or improved goods or services offered to the market
Question:
9. Process Innovations
Answer:
New or improved ways of conducting business, such as the application of new technology,
production techniques, or distribution methods
Question:
10. Invention
Answer:
The creation of a unique new idea, process, or object
Question:
11. Which type of innovation adds indirect value to customers by lowering costs and
increasing the quality of new or existing products or services?
Answer:
Process
Question:
12. Research and Development
Answer:
Organizational activities with the goal of innovating products and services
Question:
13. Incremental Innovations
Answer:
Gradual improvements to products or processes
Question:
14. Breakthrough Innovation
Answer:
The development of an entirely new product or process
Question:
15. Transformational Innovation
Answer:
Organizational adaptation and development of new processes and business models
Question:
16. Business Model
Answer:
A company's plan for creating value, including the types of products and services it will offer to
earn revenue
, Question:
17. Which type of innovation results in the development of entirely new products or
processes?
Answer:
Breakthrough
Question:
18. Key Point
Answer:
Innovation is an activity or process that leads to more effective products, processes, services,
technologies, or ideas. Innovation is the development of customer value through solutions that
meet unmet needs in new ways.
Question:
19. Key Point
Answer:
Creativity is the generation of new ideas. Innovation is the development and implementation of a
new idea through a series of stages.
Question:
20. Key Point
Answer:
Three types of innovation include breakthrough, incremental, and transformational.
Breakthrough innovation results in the development of completely new products or processes.
Incremental innovation occurs through gradual improvements. Transformational innovation
radically changes an existing product or process into a new model.
Question:
21. Design Thinking
Answer:
A human-centered process for innovation consisting of six iter- ative stages—empathize, define,
ideate, prototype, test, and implement
Question:
22. Scientific Method
Answer:
Empirical approach or procedure used to hypothesize and test observations
Question:
23. Wicked Problem
Answer:
A challenging or complex problem without a clear solution, usually social or cultural in nature
