D081 Innovative & Strategic Thinking || Questions and
100% Accurate Answers.
Breakthrough correct answers The development of an entirely new product or process.
Business Analysis correct answers Use of data about the internal and external business
environment to identify business needs and objectives.
Creativity correct answers Generation of novel or unique ideas.
Innovation correct answers The process of trying to get value out of these ideas.
Incremental Innovations correct answers Gradual improvements to products or processes.
Transformational correct answers Organizational adaptation and development of new processes
and business models.
Critical Thinking correct answers Disciplined process of rational, evidenced-based, and open-
minded thinking that involves analysis and evaluation of inputs to reach an answer.
Customer Value correct answers The benefit (vs. cost) a customer receives from a product or
service offering
Data Analysis correct answers Process of evaluating and interpreting data using analytical and
statistical tools to uncover business insights
Decision Making Process correct answers A seven-step process to make strategic decisions
informed by data.
Defined Benefit Plan correct answers Stage of Design Thinking process that builds on
observations of users to identify and refine a problem statement
Departmentalization correct answers Grouping of processes, activities, and resources into
functional units.
Descriptive Analytics correct answers Process by which historical data is analyzed and
interpreted to provide business insights.
Design Thinking correct answers A human-centered process for innovation consisting of six
iterative stages-empathize, define, ideate, prototype, test, and implement.
Differentiation Strategy correct answers Business-level strategy of establishing competitive
advantage through adding value to a product or service to accompany a higher price point.
, Empathize correct answers Stage of Design Thinking process that seeks to understand and
develop empathy for the user experience
Empathy correct answers The ability to understand or be attuned to the feelings, thoughts, or
experiences of another human being
Enterprise Risk Management (ERM) correct answers Methods and processes used by an
organization that provide a framework for identifying and managing risks and opportunities
Entrepreneur correct answers One who undertakes innovations in an effort to deliver market
adoption with a viable business model.
Entrepreneurial Mindset correct answers An important component of entrepreneurship, a mindset
of passion, drive, ambition, creativity, vision, and persistence.
Evidence-Based Decision-making correct answers Approach to decision-making that relies on
actual experimentation or historical data to demonstrate the likely success of a plan before taking
action.
Focused Differentiation Strategy correct answers Business-level strategy of delivering unique
value to a narrow target audience at a high price point.
Focused Low-Cost Leadership Strategy correct answers Business-level strategy of competing
based on price to a narrow target market
Formalization correct answers Establishment of defined structures, groupings, processes, and
hierarchies.
Human-Centered Design correct answers Approach to design that begins with the people (users)
affected by the problem or potential solution.
Ideate correct answers Stage of Design Thinking process where ideas are brainstormed and
generated
Implement correct answers Stage of Design Thinking process where a solution is brought to
scale as a market offering or is adopted throughout the organization
Incremental innovations
A. are usually highly disruptive.
B. usually represent technological breakthroughs.
C. are usually small improvements in products and processes.
D. nearly always can be patented. correct answers Gradual improvements to products or
processes.
100% Accurate Answers.
Breakthrough correct answers The development of an entirely new product or process.
Business Analysis correct answers Use of data about the internal and external business
environment to identify business needs and objectives.
Creativity correct answers Generation of novel or unique ideas.
Innovation correct answers The process of trying to get value out of these ideas.
Incremental Innovations correct answers Gradual improvements to products or processes.
Transformational correct answers Organizational adaptation and development of new processes
and business models.
Critical Thinking correct answers Disciplined process of rational, evidenced-based, and open-
minded thinking that involves analysis and evaluation of inputs to reach an answer.
Customer Value correct answers The benefit (vs. cost) a customer receives from a product or
service offering
Data Analysis correct answers Process of evaluating and interpreting data using analytical and
statistical tools to uncover business insights
Decision Making Process correct answers A seven-step process to make strategic decisions
informed by data.
Defined Benefit Plan correct answers Stage of Design Thinking process that builds on
observations of users to identify and refine a problem statement
Departmentalization correct answers Grouping of processes, activities, and resources into
functional units.
Descriptive Analytics correct answers Process by which historical data is analyzed and
interpreted to provide business insights.
Design Thinking correct answers A human-centered process for innovation consisting of six
iterative stages-empathize, define, ideate, prototype, test, and implement.
Differentiation Strategy correct answers Business-level strategy of establishing competitive
advantage through adding value to a product or service to accompany a higher price point.
, Empathize correct answers Stage of Design Thinking process that seeks to understand and
develop empathy for the user experience
Empathy correct answers The ability to understand or be attuned to the feelings, thoughts, or
experiences of another human being
Enterprise Risk Management (ERM) correct answers Methods and processes used by an
organization that provide a framework for identifying and managing risks and opportunities
Entrepreneur correct answers One who undertakes innovations in an effort to deliver market
adoption with a viable business model.
Entrepreneurial Mindset correct answers An important component of entrepreneurship, a mindset
of passion, drive, ambition, creativity, vision, and persistence.
Evidence-Based Decision-making correct answers Approach to decision-making that relies on
actual experimentation or historical data to demonstrate the likely success of a plan before taking
action.
Focused Differentiation Strategy correct answers Business-level strategy of delivering unique
value to a narrow target audience at a high price point.
Focused Low-Cost Leadership Strategy correct answers Business-level strategy of competing
based on price to a narrow target market
Formalization correct answers Establishment of defined structures, groupings, processes, and
hierarchies.
Human-Centered Design correct answers Approach to design that begins with the people (users)
affected by the problem or potential solution.
Ideate correct answers Stage of Design Thinking process where ideas are brainstormed and
generated
Implement correct answers Stage of Design Thinking process where a solution is brought to
scale as a market offering or is adopted throughout the organization
Incremental innovations
A. are usually highly disruptive.
B. usually represent technological breakthroughs.
C. are usually small improvements in products and processes.
D. nearly always can be patented. correct answers Gradual improvements to products or
processes.
