Exam (elaborations)
D081 innovative and strategic thinking task 2 2024 western governors university
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- Western Governors University
D081 innovative and strategic thinking task 2 2024 western governors university
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D081 Innovative and Strategic Thinking1. Initiative: An organizational priority that identifies a direction or strategic area
of focus.
2. Iterative: Repeated cycles that increasingly approach the desired result.
3. Innovation: Process of developing and implementing a new product/process
that delivers value to users/customers.
4. Creativity: Generation of novel or unique ideas.
5. Critical Thinking: Disciplines process of rational, evidenced-based, and
open-minded thinking that involves analysis and evaluation of inputs to reach
an answer.
6. Market share: The percentage of sales in a market controlled by a particular
company or product.
7. Customer value: The benefit (vs. cost) a customer receives from a product or
service offering.
8. Product innovations: New or improved goods/services offered to the market.
9. Process innovations: New or improved ways of conducting business, such
as the application of new technology, production techniques, or distribution
methods.
10. Invention: The creation of a unique new idea, process, or object.
11. Research & Development: Organizational activities with the goal of
innovating products and services.
12. Incremental innovations: Gradual improvements to products or processes.
13. Business model: A company's plan for creating value, including types of
products and services it will offer to earn revenue.
14. Design thinking: A human-centered process for innovation consisting of 6
iterative stages - empathize, define, ideate, prototype, test, and implement.
15. Scientific method: Empirical approach or procedure used to hypothesize and
test observations.
16. Wicked problem: A challenging or complex problem without a clear solution,
usually social or cultural in nature.
17. Agile: Project management approach, originally used for software
development, characterized by quick, iterative cycles and frequent
adaptations.
18. Empathy: The ability to understand or be attuned to the feelings, thoughts, or
experiences of another human being.
19. Human-centered design: Approach to design that begins with the people
(users) affected by the problem or potential solution.
20. Problem statement: Brief description of the issue to be addressed through
the design of a solution.
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