MAR4832 EXAM 2 – FERG QUESTIONS AND VERIFIED
ANSWERS
Steven Sinofsky's four phases of the innovation pattern for technological products and
how disruption affects them - Answers - 1. Disruption of incumbents
2. Rapid and linear evolution
3. Appealing convergence
4. Complete reimagination
Disruption of incumbents - Answers - allows new firms to introduce products that dis-
rupt the way established companies (incumbents) have typically operated.
Rapid linear evolution - Answers - a phenomenon that occurs when the challengers
develop products that are better suited to satisfy customers' needs than the
unsuspecting incumbents.
cross-functional team adds value by - Answers - having its group members from all
areas of the company.
top five managerial skill sets needed when launching a product - Answers - 1.
Experience
2. Theoretical and practical knowledge
3. Interpersonal skill
4. Being a strategic thinker 5.
Having a relationship with key suppliers and channel members
Experience - Answers - understanding or knowledge gained by one who has observed,
interacted, or witnessed a phenomenon.
Theoretical knowledge - Answers - the understanding of why something happens based
on theory.
Practical knowledge - Answers - is applying the theoretical knowledge to put the theory
in practice.
Leadership - Answers - the art of leading organizations or individuals.
Confident leaders are those who - Answers - have a successful record
of accomplishment and can motivate others to follow them because they are proven to
be successful.
The first trait of a good leader is - Answers - confidence
The second trait of a good leader is - Answers - focus
, The third trait of a good leader is - Answers - integrity
The fourth trait of a good leader is - Answers - humility
The fifth trait of a good leader is - Answers - the ability to be inspirational.
Being a strategic thinker is difficult - Answers - Their roles over time shift from
performing all jobs in the company to overseeing and guiding the organization for
extended periods of time
Strategic plans are those that - Answers - last greater than one year
Tactical plans are - Answers - short term and support the strategic plan.
The first skill needed by a strategic thinker - Answers - environmental scanning
The second skill needed by a strategic thinker - Answers - is evaluation of current
practices
The third skill needed by a strategic thinker - Answers - is the ability to obtain different
perspectives.
The fourth skill needed by a strategic thinker - Answers - is being decisive
The fifth skill needed by a strategic thinker - Answers - is the ability to benchmark best
practice
suppliers and channel members can improve their relationship by - Answers - building
trust through sharing information.
In addition to the suggestions by the Supply Chain Resource Consortium, rela-tionships
can also be enhanced when - Answers - each party receives benefits that are mutually
acceptable.
A final suggestion for establishing relationships between key suppliers and channel
members is to - Answers - avoid conflict and communicate together to resolve issues.
SWOT analysis - Answers - is a method of determining the strengths, weaknesses,
opportunities, and threats of an entity.
Environ-mental scanning - Answers - is a process where external factors are analyzed
to determine how they will affect a company's ability to grow its business.
ANSWERS
Steven Sinofsky's four phases of the innovation pattern for technological products and
how disruption affects them - Answers - 1. Disruption of incumbents
2. Rapid and linear evolution
3. Appealing convergence
4. Complete reimagination
Disruption of incumbents - Answers - allows new firms to introduce products that dis-
rupt the way established companies (incumbents) have typically operated.
Rapid linear evolution - Answers - a phenomenon that occurs when the challengers
develop products that are better suited to satisfy customers' needs than the
unsuspecting incumbents.
cross-functional team adds value by - Answers - having its group members from all
areas of the company.
top five managerial skill sets needed when launching a product - Answers - 1.
Experience
2. Theoretical and practical knowledge
3. Interpersonal skill
4. Being a strategic thinker 5.
Having a relationship with key suppliers and channel members
Experience - Answers - understanding or knowledge gained by one who has observed,
interacted, or witnessed a phenomenon.
Theoretical knowledge - Answers - the understanding of why something happens based
on theory.
Practical knowledge - Answers - is applying the theoretical knowledge to put the theory
in practice.
Leadership - Answers - the art of leading organizations or individuals.
Confident leaders are those who - Answers - have a successful record
of accomplishment and can motivate others to follow them because they are proven to
be successful.
The first trait of a good leader is - Answers - confidence
The second trait of a good leader is - Answers - focus
, The third trait of a good leader is - Answers - integrity
The fourth trait of a good leader is - Answers - humility
The fifth trait of a good leader is - Answers - the ability to be inspirational.
Being a strategic thinker is difficult - Answers - Their roles over time shift from
performing all jobs in the company to overseeing and guiding the organization for
extended periods of time
Strategic plans are those that - Answers - last greater than one year
Tactical plans are - Answers - short term and support the strategic plan.
The first skill needed by a strategic thinker - Answers - environmental scanning
The second skill needed by a strategic thinker - Answers - is evaluation of current
practices
The third skill needed by a strategic thinker - Answers - is the ability to obtain different
perspectives.
The fourth skill needed by a strategic thinker - Answers - is being decisive
The fifth skill needed by a strategic thinker - Answers - is the ability to benchmark best
practice
suppliers and channel members can improve their relationship by - Answers - building
trust through sharing information.
In addition to the suggestions by the Supply Chain Resource Consortium, rela-tionships
can also be enhanced when - Answers - each party receives benefits that are mutually
acceptable.
A final suggestion for establishing relationships between key suppliers and channel
members is to - Answers - avoid conflict and communicate together to resolve issues.
SWOT analysis - Answers - is a method of determining the strengths, weaknesses,
opportunities, and threats of an entity.
Environ-mental scanning - Answers - is a process where external factors are analyzed
to determine how they will affect a company's ability to grow its business.
