PHL 320 Week 3 Knowledge Check

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PHL 320 Week 3 Knowledge Check
PHL 320 Week 3 Knowledge Check
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Year: 2016
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PHL 320 Week 3 Knowledge Check

Concept: Areas in which people are creative

Mastery100%Questions·         1

·         2

·         3

Materials on the concept

  • Unleashing Individual Creativity
  • Areas in Which People are Creative

1.

Ramona, a member of the innovation team at Buzzer Co., a beer manufacturing company, suggests that the company use the spent grain generated through the process of beer manufacturing to create commercial products. Ramona explains how the wasted grain can be broken down through the process of fermentation to generate biogas and compounds that can be used to make personal care products and clothes. In the context of William Miller’s research, into which area is Ramona channeling her creativity?

Organization creativity

Relationship creativity

Event creativity

Material creativity

2.

In the context of William Miller’s research, identify an accurate statement about the different areas in which people are creative.

Material creativity entails coming up with a new approach to structuring systems in an organization.

Inner creativity entails finding new uses for materials for products or services.

Coming up with completely new and innovative ideas for products or services make people creative in a relationship context.

People who exhibit spontaneous creativity tend to come up with witty responses in meetings and quick, easy ways of settling disputes.

3.

Which area of creativity do people explore when they change the way they perceive certain things in their own minds?

Inner creativity

Event creativity

Organizational creativity

Material creativity

Concept: Ingredients for enhancing innovation at work and approaches to innovation

Mastery100%Questions·         4

·         5

·         6

Materials on the concept

  • Approaches to Innovation
  • Closed Innovation
  • Open Innovation
  • Incentives For The Innovative Employee
  • Ingredients For Enhancing Innovation At Work

4.

Which of the following statements is true of closed innovation?

The closed innovation approach involves using resources within the company to generate new ideas and business breakthroughs.

Companies using the closed innovation approach often collaborate with external parties to find new and innovative business ideas.

The activities of companies using the closed innovation approach are more transparent to the public eye.

Unlike the companies that use the open innovation approach, companies that use the closed innovation approach cannot protect their intellectual property well.

5.

Which approach to innovation lays emphasis on the importance of gaining inputs to innovation from external sources?

Open-source innovation

Closed innovation

In-house innovation

Closed-market innovation

6.

Altech Corp. hosts an internal competition among its employees to come up with innovative ideas for the packaging of a new product. The company announces that it will monetarily reward the person who comes up with the best design. In the context of the ingredients for enhancing innovation at work, which of the following practices has Altech incorporated that will drive its employees to become more innovative?

Incorporating entrepreneurship development techniques

Providing innovation mentorship

Giving incentives to innovative employees

Instituting deliberate practice

Concept: Strategic planning

Mastery100%Questions·         7

·         8

·         9

Materials on the concept

  • Strategic Planning
  • Step 5: Strategy Implementation
  • Step 6: Strategic Control
  • Benchmarking
  • Step 3: Analysis of Internal Strengths and Weaknesses

7.

The management of Danla Inc., a breakfast cereal manufacturing company, decides to diversify its business by manufacturing instant noodles. The company puts together a taskforce with representatives from different departments to gather feedback from the employees about the change that is to be implemented and identify the problems that may interfere with the effective implementation of this new business strategy. In a month’s time, the taskforce compiles and interprets the feedback gathered from the employees and presents it to the top management. In the context of strategic planning, which of the following steps of the strategy implementation process has been exemplified in this scenario?

Assessing organization capabilities

Defining strategic tasks

Developing an agenda for implementation

Creating an implementation plan

8.

Which step of the strategic planning process immediately follows the step of strategy implementation?

Putting in place a mission, a vision, and goals for the organization

Analyzing the threats and opportunities associated with the external environment

Analyzing the weaknesses and strengths of the important areas of function within the organization

Using a strategic control system to monitor and evaluate the organization’s progress

9.

What is the process of assessing an organization’s performance by comparing it with that of its competitors called?

Delegating

Resourcing

Benchmarking

Mind mapping

Concept: Levels of planning

Mastery100%Questions·         10

·         11

·         12

Materials on the concept

  • Levels of Planning
  • Strategic Planning
  • Tactical and Operational Planning

10.

At which level of planning does an organization define its long-term objectives?

At the functional level

At the strategic level

At the tactical level

At the operational level

11.

In the context of the levels of planning, identify an accurate statement about operational plans.

Operational plans tend to be highly detailed and are more specific.

The time horizon of operational plans often varies from three to seven years.

Once operational plans have been established, managers use them as the foundation for other levels of planning.

Operational plans are defined by the top-level management of an organization.

12.

Mario leads a team of market analysts at Volity Consulting Inc. Whenever his team is assigned a new project, Mario is required to plan and prepare a daily routine for every member in his team. In the context of the levels of planning, what can be inferred about Mario’s position in the organization?

Mario is a top-level manager.

Mario is a middle-level manager.

Mario is a frontline manager.

Mario is a senior partner.

Concept: The creative process

Mastery100%Questions·         13

·         14

·         15

Materials on the concept

  • Phase 2: The Incubation Process
  • The Creative Process
  • Phase 1: Background or Knowledge Accumulation

13.

Which phase of the creative process immediately follows the phase of knowledge accumulation, which involves the extensive gathering of information related to an issue under study?

The idea experience

The incubation process

Evaluation

Implementation

14.

Which of the following statements is true of the different phases of the creative process?

It is only during the implementation phase that creative individuals try to make sense of the extensive amounts of information gathered over the preparation phase.

The incubation process only occurs while people are engaged in activities that are related to the subject or issue under study.

Creative individuals can engage in the incubation process even when they are sleeping.

It is during the knowledge accumulation phase that the idea or solution that an individual is seeking is discovered.

15.

Patricia, the chief marketing officer of Xaphire Inc., notices that there has been a considerable drop in the company’s market share over the last quarter and that Xaphire has lost a large portion of its sales to competition. Patricia realizes that only an improved and innovative marketing strategy can help restore the organization’s lost profits. Before trying to formulate such a strategy, she engages in extensive market research by analyzing primary and secondary data and market trends and engaging in discussions with fellow marketers. She also ensures that her team gathers tremendous amounts of information relating to the topic under study. In which stage of the creative process are Patricia and her team members most likely engaged?

The idea experience

The incubation process

Knowledge accumulation

Evaluation and implementation

Concept: Obstacles to corporate innovation

Mastery100%Questions·         16

·         17

·         18

Materials on the concept

  • Fellow Employees
  • Obstacles to Corporate Innovation
  • Job Domain
  • Resource Acquisition

16.

In the context of the obstacles to corporate innovation, what is the term used to refer to the fear of anything new or unfamiliar?

Turfism

Neophobia

Neophilism

Sales phobia

17.

Which of the following is most likely a reason for the failure of corporate innovative activity in companies today?

No company today has reward systems in place for ideas and cost-saving proposals presented through structured suggestion programs.

Companies allow their employees to spend most of their time on coming up with new business ideas rather than on focusing on their normal course of duties.

The sponsors and allies of corporate innovators tend to expose innovators to unnecessary organizational bureaucratic interference.

Departments in companies are less concerned about developing new ideas that will benefit the company than they are about protecting their “domain.”

18.

Alex, a project manager at a software company, is about to start a challenging new project. Before beginning, he asks Liana, his colleague, if he can use a few of her best team members to help him work on the project. Alex, however, intends on returning them as soon as the project is complete. In the context of resource acquisition, which of the following strategies for co-optation has been illustrated in this scenario?

Begging

Scavenging

Amplifying

Borrowing

Concept: Barriers to effective decision making

Mastery100%Questions·         19

·         20

·         21

Materials on the concept

  • Barriers to Effective Decision Making
  • Psychological Biases
  • Time Pressures

19.

Select an accurate reason as to why it is hard to be automatically rational while making a decision.

Managers tend to define problems in too much detail.

Managers tend to view plans and goals with skepticism.

Managers tend to maximize when making choices.

Managers tend to have biases that interfere with objective rationality.

20.

In the context of the barriers to effective decision making, which among the following illustrates the practice of avoidance of short-term costs that leads to negative consequences in the future?

Lee, a market researcher, skips a thorough analysis of potential threats to the firm to submit the report on time.

Zara, a fitness trainer, does not let her clients miss any of the exercise routines even though most of them are professional athletes.

Mark educates his son in one of the nation’s best colleges even though the tuition and living expenses are very high.

Johanna stays in her room and prepares for her finals while her friends party at a new club in the city.

21.

In the context of time pressures, what term refers to recent information that is collected without any delay?

Batch-processing data

Revised information

Real-time information

Historical data