Transcript:
DW: Strategic innovation is the process of managing innovation, of making sure it takes place at all levels of the company, and that it’s related to the company’s overall strategy.
I: I see.
DW: So, instead of innovation for innovation's sake, new products being created simply because the technology is there, or the design idea is there, for example, the company culture must switch from these point-in-time innovations to a continuous pipeline of innovations from everywhere and everyone.
I: So strategic innovation is more than simply developing exciting new products.
DW: Exactly. The process must form part of the company mindset. A strategy has to be aligned throughout the company - otherwise it’s just an idea, worthless on its own unless it’s put into practice. The company’s overall strategy is innovation.
What can be inferred about strategic innovation from the audio?
Result:
AI explanationShows the answer. Tap to open.
Option 3: "It is used to manage innovation"
Explanation: This option accurately reflects the text, which defines strategic innovation as the process of managing innovation at all levels of the company. It highlights the importance of integrating innovation into the company's overall strategy, making it a correct interpretation of the text.
Option 1: "New products are created because the technology is available"
Explanation: This option suggests that products are created solely based on available technology. However, the text emphasizes that strategic innovation is about aligning innovation with the company's overall strategy, not just creating products because technology exists. Therefore, this option does not accurately reflect the main idea of the text.
Option 2: "New products are launched on basis of design idea"
Explanation: This option implies that the launch of new products is based solely on design ideas. The text clarifies that strategic innovation involves more than just design; it requires a continuous pipeline of innovation that aligns with the company's strategy. Thus, this option is too narrow and does not capture the essence of strategic innovation.
Option 4: "It is used to develop exciting new products"
Explanation: This option suggests that the primary purpose of strategic innovation is to develop exciting new products. However, the text indicates that strategic innovation is about aligning innovation with the company's strategy, rather than focusing solely on product excitement. Therefore, this option misrepresents the broader purpose of strategic innovation.
Option 5: "It is related to a company’s general stratagem"
Explanation: This option is correct as it aligns with the text's assertion that strategic innovation must be related to the company’s overall strategy. The text emphasizes that without this alignment, innovation is merely an idea and lacks practical value, making this option a valid inference.
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