CME CME Innovation & Entrepreneurship

Question 1

Clayton Christensen's theory of 'disruptive innovation' describes innovations that:

Accepted Answer

Initially serve niche or underserved markets before displacing incumbents

Answer

Improve existing products for current customers

Answer

Require massive R&D investments to develop

Answer

Are adopted simultaneously across all market segments

Question 2

Which business model canvas component describes the value a company delivers to its customers?

Accepted Answer

Value Proposition

Answer

Revenue Streams

Answer

Customer Segments

Answer

Key Resources

Question 3

In entrepreneurship, what does the 'lean startup' methodology primarily emphasize?

Accepted Answer

Rapid experimentation, validated learning, and iterative product releases

Answer

Securing large amounts of venture capital before launching

Answer

Building a complete product before testing market fit

Answer

Hiring experienced teams before developing a product

Question 4

What is a 'Minimum Viable Product' (MVP) in the context of innovation management?

Accepted Answer

A product with enough features to attract early adopters and validate key assumptions

Answer

The lowest-cost version of a product

Answer

A prototype only shown to internal teams

Answer

The final version of a product before full launch

Question 5

Which innovation type improves existing products or services within an established market without changing the fundamental business model?

Accepted Answer

Incremental Innovation

Answer

Disruptive Innovation

Answer

Architectural Innovation

Answer

Radical Innovation

Question 6

In the context of corporate innovation, what is an 'intrapreneurship' program designed to do?

Accepted Answer

Encourage employees to develop entrepreneurial ideas within the organization

Answer

Recruit external startup founders

Answer

Outsource product development to startups

Answer

Restructure the company into independent subsidiaries