Discuss the following concepts:

Intellectual property
o Work/invention which one has rights for e.g. processes, products,
info, systems, customers.
o Every aspect of operation, need to be managed & protected.
o Seldom documented.
Patent
o License conferring rights to work/invention.
o Offers 20-year monopoly.
o E.g. medicines.
Trademark
o Distinctive name/mark/symbol identified with company / its
products
o E.g. emblems, logo, catchphrase
Trade secret
o Secret device/technique used by companies to manufacture
products/services.
o E.g. special ways of working, price costing, business strategy.
Design rights
o Protects the outward appearance of an article.
o Provides exclusive rights up to 15 years.
o E.g. shape, contours, lines, colours, texture.

5 differences between invention & innovation:

Invention
Creation of new
product/service/process
May not be commercialized
Motive may be non-economic or
economic
Can be both autonomous & induced
Activities usually restricted to R&D
centre

Innovation
Introduction of new p/s/p into
marketplace
Results into commercialization
Motive usually economic
Usually induced
Activities & applications spread across
org.

Identify & explain 5 advantages of using marketing plan and

justify answers with relevant examples:

With proper example, discuss 4 types of innovation:

1. Incremental
Improve current products/services/processes/system
E.g. new features/styles of automobiles, many versions of iPhone
2. Discontinuous
Totally stop & start new product/service with same function.
E.g. horse/buggy to automobile, candles to light bulbs
3. Radical

 Introduce new product/service that develop new biz or industries.

E.g. The internet
4. Disruptive
Brings new value proposition: new features and benefits.
E.g. silver halide film to digital photography

There are various forms of capital available for innovation project

funding. Discuss any 5:
1.
2.
3.
4.
5.

Founder, funder
Family
Friends
Business angels
Venture capitalist - banks

Give 5 reasons why innovation always fail:

1.
2.
3.
4.
5.

Poor
Poor
Poor
Poor
Poor

goal definition
alignment of actions to goals
participation in teams
monitoring of results
communication and access to information

Discuss 5 perspectives on how innovation can contribute to

nation growth:

With appropriate examples, discuss in detail the 4 phases of the

long wave cycle in innovation process:

Prosperity
Recession
Depression
Recovery

Discuss the following terms:

Rights & responsibility

Life span
Liabilities

Steps in innovation:

Explain the meaning of product platform & give example of

companies that use product platform in its innovation process:

Versatile product, common formula/design, base of a family of products.

It is the foundation of product strategy
Many products are typically built from a core technology
Collection of the common elements implemented across a range of
products.
E.g. Perodua, Ford, Benz

Define the following terms:

Innovation
o Process translating idea/invention into goods/services/process which
brings value & create returns.
Invention
o Creation of a new scientific/technical idea and demonstrating that it
will work in practice.
Creativity
o Mental process involving generation of new ideas / new associations
between existing ideas.
System innovation
o
Disruptive innovation

According to Kotler & Heskett classification of culture, Theory 1 says

that firms operating in uninhabited markets where they have almost
monopolistic power can become inwardly focused, arrogant &
bureaucratic and have strong culture. However, having strong culture
does not guarantee the firm will have excellent performance.

Please discuss briefly & give your example. (5 points):

Intellectual property, time & technology are 3 of organization

resources that are critical to innovation. Discuss how:

4 functions and roles for organizational:

External routes to innovation: