CGM Technology & Innovation Management Flashcards

Which framework is commonly used by US businesses to manage cybersecurity risk?

Answer: NIST Cybersecurity Framework

The NIST Cybersecurity Framework provides guidelines for managing and reducing cybersecurity risk in US organizations.

What is the PRIMARY purpose of data governance in an organization?

Answer: To ensure data is accurate, secure, and used appropriately

Data governance establishes policies and standards to ensure data quality, integrity, security, and appropriate use across the organization.

In the context of innovation management, an 'open innovation' strategy involves:

Answer: Leveraging external ideas, partnerships, and technologies alongside internal efforts

Open innovation combines internal and external sources of knowledge—such as startups, universities, or customers—to accelerate innovation.

A general manager evaluating technology vendors should prioritize which factor ABOVE all others?

Answer: Alignment of the solution with business requirements and long-term strategy

Technology vendor selection must be driven by how well the solution meets the organization's specific needs and supports long-term strategy.

What is 'digital literacy' and why is it important for general managers?

Answer: The ability to understand and leverage digital tools and data to make informed decisions

Digital literacy enables managers to evaluate technology options, interpret data, and lead teams effectively in a digital environment.

The 'agile' methodology in technology management is characterized by:

Answer: Iterative development with continuous feedback and adaptation

Agile methodology uses short iterative cycles (sprints) and continuous stakeholder feedback to adapt the product as requirements evolve.