CE Exam #1

I. Key Concepts and Definitions

• Advancements in financial systems:

  • Definition: Improvements in the efficiency, speed, and accessibility of financial transactions and services.

  • Example: The rise of cashless payment systems like Apple Pay and digital currencies such as Bitcoin.

  • Reference: MGMT 320-Session 02 New Corporate ENT Imperative 1 UPLOAD.pptx

• Advancements in logistical systems:

  • Definition: Innovations in the movement and storage of goods, leading to greater efficiency and reach.

  • Example: Container shipping and advanced tracking technologies that enable just-in-time delivery.

  • Reference: MGMT 3200-Session 01 Introduction to Corporate Entreneurship Master UPLOAD.pptx

• Advancements in production systems ("just in time" or push/pull systems):

  • Definition: Modern manufacturing methods that optimize inventory and production flow

  • Example: A system where car parts arrive at the assembly line just as they are needed, minimizing storage.

  • Reference: MGMT 3200-Session 01 Introduction to Corporate Entreneurship Master UPLOAD.pptx

• Advancements in prototyping (3D printing):

  • Definition: Technologies that enable rapid creation of product prototypes

  • Example: Using a 3D printer to quickly produce a model of a new product design.

  • Reference: MGMT 3200-Session 01 Introduction to Corporate Entreneurship Master UPLOAD.pptx

• Boston Consulting Group matrix (question marks, stars, cash cows, dogs):

  • Definition: A tool for analyzing a company's product portfolio based on market share and growth.

  • Example: A high-growth product with a low market share is a "question mark."

  • Reference: MGMT 320-Session 03 New Corporate ENT Imperative 2 and Traditional Innovation Management - UPLOAD.pptx

• Characteristics of high-performance teams:

  • Definition: Qualities that contribute to effective teamwork.

  • Example: Clear goals, open communication, and mutual trust among team members.

  • Reference: Abudi 5 Stages of Team Building.docx

• Competitor/competing product analysis:

  • Definition: Evaluating the strengths and weaknesses of competitors and their products.

  • Example: A company analyzing a competitor's pricing, features, and market share.

  • Reference: E-Lowe How to conduct a competitive analysis.pdf, MGMT 320 - Position Paper 4-1 (1).docx

• Conflict management/resolution strategies:

  • Definition: Techniques for addressing conflicts within teams or organizations.

  • Example: Confrontation, compromise, smoothing, forcing, and avoiding.

  • Reference: Conflict Resolution in Project Management.docx, Eisenhardt et al. HBR How Teams Can Have a Good Fight.pdf, MGMT 320 - Position Paper 5.docx

• Conformity/peer pressure:

  • Definition: The influence of group norms on individual behavior.

  • Example: Team members going along with a decision they disagree with to avoid conflict.

  • Reference: (Considered in the context of team dynamics from various team-related documents)

• Customer/market segment analysis:

  • Definition: Identifying and understanding target customer groups.

  • Example: A company researching the demographics and preferences of its customer base.

  • Reference: MGMT 320 - Position Paper 4-1 (1).docx

• Design Patent:

  • Definition: Protection for the ornamental design of a functional item.

  • Example: A patent on the unique shape of a bottle.

  • Reference: MGMT 320-Session 04 Traditional Innv Mgmt Strategies 1 IP Strategies -- Master.pptx

• Disruptive effects of digitalization and the internet:

  • Definition: The transformative impact of digital technologies on industries.

  • Example: The shift from physical stores to e-commerce.

  • Reference: MGMT 3200-Session 01 Introduction to Corporate Entreneurship Master UPLOAD.pptx

• Diversity and creativity of R&D project teams:

  • Definition: The relationship between team diversity and innovative output.

  • Example: A team with members from different backgrounds generating more creative ideas.

  • Reference: (Considered in the context of team dynamics from various team-related documents)

• Division of labor (specialization advantages, coordination challenges):

  • Definition: The allocation of tasks to increase efficiency.

  • Example: An assembly line where each worker performs a specific task.

  • Reference: (Considered in the context of project management from various documents)

• First to file (patenting process):

  • Definition: A patent system where the first inventor to file gets the patent.

  • Example: Two inventors working on the same idea, the one who files first gets the patent.

  • Reference: Dodds 2007 IP-Handbook Patenting Strategies.pdf

• GANTT Chart:

  • Definition: A project management tool for visualizing project schedules.

  • Example: A chart showing the start and end dates for each task in a project.

  • Reference: (Considered in the context of project management from various documents)

• Innovation advantages of large and established companies:

  • Definition: Resources and capabilities that enable large companies to innovate.

  • Example: Large R&D budgets and established distribution networks.

  • Reference: MGMT 320-Session 03 New Corporate ENT Imperative 2 and Traditional Innovation Management - UPLOAD.pptx

• Intellectual property (IP):

  • Definition: Intangible assets that protect innovations.

  • Example: Patents, trademarks, and copyrights.

  • Reference: MGMT 320-Session 04 Traditional Innv Mgmt Strategies 1 IP Strategies -- Master.pptx, MGMT 3200-Session 06 Traditional Innv Mgmt Strategies 3 IP Strategies -- UPLOAD.pptx

• Manufacturing trends in North America:

  • Definition: Changes in manufacturing practices in North America.

  • Example: Increased automation and focus on advanced manufacturing.

  • Reference: MGMT 3200-Session 01 Introduction to Corporate Entreneurship Master UPLOAD.pptx

• Market entry: "Best heats first":

  • Definition: Entering a market quickly and decisively.

  • Example: A company rapidly launching a new product to capture market share.

  • Reference: MGMT 320 - Position Paper 2.docx

• Market estimates for new products:

  • Definition: Forecasting the potential demand for a new product.

  • Example: A company predicting how many units of a new product they can sell.

  • Reference: MGMT 320 - Position Paper 4-1 (1).docx

• Market segment characteristics/dimensions:

  • Definition: Variables used to define market segments.

  • Example: Age, income, and lifestyle.

  • Reference: MGMT 320 - Position Paper 4-1 (1).docx

• NAICS codes:

  • Definition: Codes used to classify businesses by industry.

  • Example: A code that identifies a company as belonging to the manufacturing sector.

  • Reference: (Not explicitly mentioned, but relevant for market analysis)

• Patent application process (expenses, processing time):

  • Definition: The steps involved in obtaining a patent.

  • Example: Filing an application, examination by the patent office, and issuance of the patent.

  • Reference: Dodds 2007 IP-Handbook Patenting Strategies.pdf

• Patent Cooperation Treaty (PCT):

  • Definition: An international treaty that simplifies filing patents in multiple countries.

  • Example: Filing a single PCT application to seek patent protection in multiple countries.

  • Reference: Dodds 2007 IP-Handbook Patenting Strategies.pdf

• Patent litigation (territorial limits, expenses, time frames):

  • Definition: Legal disputes related to patents.

  • Example: A company suing another for patent infringement.

  • Reference: MGMT 320 - Position Paper 3-2.docx

• Patent trends (international comparisons):

  • Definition: Differences in patent activity and effectiveness across countries.

  • Example: The higher number of patent applications in China compared to the US.

  • Reference: MGMT 320-Session 04 Traditional Innv Mgmt Strategies 1 IP Strategies -- Master.pptx

• Patents (definition, types, benefits, limits):

  • Definition: Exclusive rights granted for an invention.

  • Example: Utility, design, and plant patents.

  • Reference: Dodds 2007 IP-Handbook Patenting Strategies.pdf

• Peer pressure and team creativity/decision quality:

  • Definition: The impact of group influence on team innovation and choices.

  • Example: Team members suppressing creative ideas to conform with the majority.

  • Reference: (Considered in the context of team dynamics from various team-related documents)

• Plant patents:

  • Definition: Protection for new varieties of asexually reproducing plants.

  • Example: A patent on a new type of rose bush.

  • Reference: Dodds 2007 IP-Handbook Patenting Strategies.pdf

• Portfolio analysis techniques:

  • Definition: Methods for evaluating a company's collection of businesses or products.

  • Example: The Boston Consulting Group matrix.

  • Reference: MGMT 320-Session 03 New Corporate ENT Imperative 2 and Traditional Innovation Management - UPLOAD.pptx

• Portfolio management of R&D projects:

  • Definition: Selecting and managing a mix of R&D projects.

  • Example: Balancing high-risk, high-reward projects with safer, incremental ones.

  • Reference: (Considered in the context of innovation management from various documents)

• Post-mortem meetings:

  • Definition: Reviews conducted after project completion to identify lessons learned.

  • Example: A team discussing what went well and what could be improved after finishing a project.

  • Reference: (Considered in the context of project management from various documents)

• Primary vs secondary data:

  • Definition: Original data collected firsthand versus data collected by someone else.

  • Example: Conducting a customer survey (primary) versus using government statistics (secondary).

  • Reference: (Considered in the context of market research from various documents)

• Proactive business strategies:

  • Definition: Anticipating and acting on future market needs.

  • Example: A company investing in renewable energy before it becomes mainstream.

  • Reference: MGMT 320-Session 03 New Corporate ENT Imperative 2 and Traditional Innovation Management - UPLOAD.pptx

• Product life cycle:

  • Definition: The stages a product goes through from introduction to decline.

  • Example: The introduction, growth, maturity, and decline of a product like the DVD player.

  • Reference: (Considered in the context of market analysis from various documents)

• Project leadership (dynamics, complexities):

  • Definition: The skills and challenges involved in leading project teams.

  • Example: Motivating team members, managing conflicts, and adapting to changes.

  • Reference: (Considered in the context of project management from various documents)

• Project life cycle:

  • Definition: The stages a project goes through from initiation to closure.

  • Example: Planning, executing, and closing a construction project.

  • Reference: (Considered in the context of project management from various documents)

• Project management challenges:

  • Definition: Difficulties encountered in planning, executing, and closing a project.

  • Example: Scope creep, resource constraints, and communication breakdowns.

  • Reference: MGMT 320 - Position Paper 5.docx, Green HBR Christmas Project - COMMENTS ONLY.pdf, Green HBR Christmas Project CASE ONLY.pdf

• Project meeting ground rules:

  • Definition: Guidelines for effective and productive project meetings.

  • Example: Starting on time, staying on topic, and respecting others' opinions.

  • Reference: (Considered in the context of project management from various documents)

• Project milestones:

  • Definition: Significant points or events in a project's timeline.

  • Example: Completing a design phase or reaching a sales target.

  • Reference: (Considered in the context of project management from various documents)

• Project plan (components, pros and cons):

  • Definition: A document that outlines a project's goals, tasks, resources, and schedule.

  • Example: A project plan including a scope statement, work breakdown structure, and risk assessment.

  • Reference: (Considered in the context of project management from various documents)

• Project risk analysis (qualitative and quantitative):

  • Definition: Identifying and assessing potential risks to a project.

  • Example: Using a risk matrix to prioritize risks and calculating the potential financial impact of risks.

  • Reference: (Considered in the context of project management from various documents)

• Project scheduling:

  • Definition: Developing a timeline for project tasks and milestones.

  • Example: Creating a Gantt chart or using project management software.

Reference: (Considered in the context of project management from various documents)

• Project Scope Definition
  Project scope outlines the key elements of a project, including its goals, boundaries, tasks, deliverables, and strategies for managing workflows. It serves as a guide to help team members understand their responsibilities and manage their workloads effectively.

Example: In a software development project, the scope might include developing a mobile application with specific features like user authentication, profile management, and push notifications, while explicitly excluding features like in-app purchases or social media integration.

• Project Time Management
  Project time management involves the processes required to manage the timely completion of a project. It includes planning and controlling the amount of time allocated to complete specific tasks to ensure the project finishes on schedule.

Example: A construction project manager creates a detailed schedule outlining the start and end dates for each phase of building a house, such as laying the foundation, framing, plumbing, and electrical work, ensuring that each task is completed within its allocated timeframe to avoid delays.

• Provisional Patent Application
  A provisional patent application is a legal document filed with the United States Patent and Trademark Office (USPTO) that allows an inventor to establish an early filing date for their invention without starting the formal patent examination process. It provides a 12-month period to file a non-provisional (formal) patent application.

Example: An inventor who develops a new type of solar panel files a provisional patent application to secure an early filing date, giving them a year to refine the invention and prepare a complete patent application.

• R&D Collaborations
  Research and Development (R&D) collaborations involve partnerships between companies, academic institutions, or other organizations to jointly conduct research and develop new products, services, or technologies. These collaborations can share resources, expertise, and risks associated with innovation.

Example: A pharmaceutical company partners with a university's medical research department to develop a new drug, combining the company's resources and the university's specialized knowledge.

• Reactive Business Strategies
  Reactive business strategies are approaches where a company responds to events or changes in the business environment after they occur, rather than anticipating them. This strategy often involves addressing issues as they arise, focusing on short-term solutions.

Example: A smartphone manufacturer releases a software update to fix security vulnerabilities only after customers report issues, rather than proactively identifying and addressing potential problems.

• Strategic Group Analysis
  Strategic group analysis is a method used to categorize companies within an industry that have similar business models or strategies. It helps in understanding the competitive dynamics and identifying direct competitors.

Example: In the automotive industry, luxury car manufacturers like BMW, Mercedes-Benz, and Audi can be grouped together based on their high-end market focus and premium pricing strategies.

• Substitute Products
  Substitute products are different products or services that satisfy the same customer need or desire. The availability of substitutes can influence market competition and pricing.

Example: Butter and margarine are substitute products; consumers may choose one over the other based on factors like price, taste, or health considerations.

• SWOT Analysis
  SWOT analysis is a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats related to a business or project. It provides a framework for analyzing internal and external factors that can impact success.

Example: A retail company conducts a SWOT analysis and identifies a strong brand reputation (Strength), limited online presence (Weakness), a growing e-commerce market (Opportunity), and increasing competition (Threat).

• Team Conflict Management
  Team conflict management involves addressing and resolving disagreements among team members in a constructive manner. Effective conflict management can lead to better collaboration and improved team performance.

Example: A project manager facilitates a meeting between two team members who disagree on a project's direction, encouraging open communication and guiding them toward a mutually agreeable solution.

• Team Development Stages
  The team development stages, often referred to as Tuckman's stages, describe the phases that teams typically go through as they form and evolve: Forming, Storming, Norming, Performing, and Adjourning.

Example: A newly formed marketing team initially goes through the Forming stage, where members get to know each other, followed by the Storming stage, where conflicts may arise as they establish roles and responsibilities.

• Team Management Roles
  Team management roles refer to the various functions and responsibilities that leaders or managers undertake to facilitate effective teamwork, including planning, organizing, leading, and controlling team activities.

Example: A team manager sets clear goals (planning), assigns tasks based on team members' strengths (organizing), motivates the team (leading), and monitors progress to ensure objectives are met (controlling).

• Trade Secrets
  Trade secrets are confidential business information that provides a company with a competitive edge. They are protected without registration, as long as the information remains secret.

Example: The recipe for Coca-Cola is a trade secret, kept confidential to maintain the company's competitive advantage in the beverage market.

• Types of Corporate Diversification
  Corporate diversification involves a company expanding into new markets or product lines. Two main types are:

  • Concentric Diversification: Expanding into related industries or products.

    Example: A smartphone manufacturer starts producing tablets, leveraging existing technology and market knowledge.

  • Conglomerate Diversification: Expanding into unrelated industries or products.

    Example: A textile company acquires a food processing firm, entering an entirely different market.

• U.S. Patent System Strengths and Weaknesses
  The U.S. patent system provides strong intellectual property protections, encouraging innovation by granting exclusive rights to inventors. However, it has weaknesses, such as long processing times, high costs, and occasional issues with patent quality, including overly broad or vague patents that lead to litigation.

Example: A tech startup benefits from the strong patent system by securing exclusive rights to its new AI algorithm, but the high legal costs and long approval process delay its commercialization.

• Utility Patent
  A utility patent protects the functional aspects of an invention, such as a new process, machine, or composition of matter. It lasts for 20 years from the filing date, provided maintenance fees are paid.

Example: A company invents a new type of battery that lasts twice as long as traditional batteries and secures a utility patent to prevent competitors from copying the design.

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