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Innovation Future Specialist

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Ted's Quiz

Teddy bear reading a book Here is a quiz prepared by your favourite Ted. It covers the topics in Ted's Guides: ideas, startups, business, managers, leaders, innovation, SWOT analysis, training and science. To get the full value of this follow up on any topics where you gave the wrong answer.

Ideas

If you have an idea, what might you want to do initially?

See if the idea is unique, keep it secret, and check it is a good idea. Celebrate, tell everyone, and take out an overdraft. Celebrate, and invite Ted to your party! Do nothing and carry on as you are.

Be careful: do not assume your idea is unique, do not blab, and do your research to check its viability.

Yes, check the idea is unique and keep it secret while you do research to check its viability. See Ideas for more.

Have you got a good idea? You need to determine the following:

What are the benefits? How much would customers pay? Is it technically possible? How much would it cost to implement? What colour should it be? Should I go on Dragon's Den? What should I spend my first million pounds on? Which country would help me? Will I have to pay tax? Can a robot do it? What is Ted's cut?

Avoid thinking about trivia and future details that are not yet relevant. Snap out of that fantasy party feeling, unless you plan to invite Ted.

Think: are the benefits significant, will people pay enough for it, and can it be done (viably).

Start-ups

If you are thinking of starting a business then remember that it might take much longer than you expect to ...

get your business cards printed clear the junk out of the spare bedroom open a bank account generate any income

Many things might take longer than the novice expects, but this is not the answer we seek here.

Yes, you might not get any income on day 1, week 1 and month 1. It could be much longer.

For businesses that require significantly more money than you have, you will need a ...

10 million pound investment Swiss bank account smart offices black suit and red tie good business plan

It might be a nice thing to think about, but it is not vital.

A good business plan is vital - and it must be credible!

A good tip for a startup is the following ...

Find some business mentors. Join a business club. Take some short business courses. Use good information sources and forums on the Internet. All of the above. Ask Ted.

There are multiple good tips here. Ted's Guides provide a good start, but Ted does not [currently] provide 1:1 advice.

Yes, seek out good knowledge and experienced people.

Business

What is a fancy name for asking prospective customers what they want and how much they want to pay for it?

Market Research Marketing Sales Procurement

Market research is dedicated to this task. It is a subset of Marketing. Sales people perform a similar task but they are given a specific list of things to sell at a specific price range; whereas market research should enquire more broadly - this will inform a business about what they should be attempting to deliver, and at what price.

Market research is dedicated to this task. It is a subset of Marketing. Sales people perform a similar task but they are given a specific list of things to sell at a specific price range; whereas market research should enquire more broadly - this will inform a business about what they should be attempting to deliver, and at what price.

Market research includes ...

Finding out what competitors do better than your business. Spying for the government. Finding out which members of staff go to the shops when they should be working. Setting up a laboratory.

This is not the answer we seek, but some businesses might do this.

Yes, find out what prospective customers want and deliver it better than your competitors.

Promotions refer to ...

The kinetics of marketing. Adverts pushing products at a cheaper price.

No that is a made up term. Sounds good though doesn't it.

Yes, this is often used when a new product/service is launched. It might also be used when a business is struggling, or is battling against a competitor. Hint: consider avoiding this common approach to a battle - innovate instead!

Designers and marketing people talk waffle 80 percent of the time about ...

Waffles Image and brand Finance Brochures and publications

Perhaps some do, but this is not the answer we seek.

Yes, but the difficulty is identifying the correct 20 percent of the time :-) [figures made up, but you get the idea]

Select the most appropriate response to the following: Sales is within the marketing department.

True False It does not matter

It can be either. If Sales has sufficient information and reports back its findings to Marketing then it does not matter. You should seek to make information readily available across all departments.

It can be either. If Sales has sufficient information and reports back its findings to Marketing then it does not matter. You should seek to make information readily available across all departments.

The greatest asset of any business is ...

Its staff Finance Vision Strategy Innovation AI Science

That is useful for sure, but the greatest asset of a business is its staff (until AI and robots take over).

Yes, staff (until AI and robots take over).

Finish this sentence: "just to keep up" ...

your business needs to keep improving. you need to turn up. don't go down.

Things are constantly changing, you need to keep improving.

Things are constantly changing, you need to keep improving.

Management, Leadership and Innovation

The skills and attributes of a good manager include:

Those demonstrated by David Brent (The Office). A position of authority, and supporting and inspiring the team. Being annoying, selfish and arrogant. Not listening to the team.

Mmm nice recipe for an ineffective team.

Yes.

The skills and attributes of a good manager also include:

The workaholic that does everything without delgating. The ability to organise, establish processes (or procedures), set objectives, develop plans, delegate tasks, monitor team performance, evaluate, and make improvements. A disorganised process-o-phobic.

No phobics or -holics sought here.

Yes. See the SQM tool (in Tools on the Home page). More manager attributes are shown in Ted's Guides.

A great leader will ...

Be well informed and consult colleagues. Pay attention to the future. Set a vision. Make bold decisions. Develop policies and a strategy. Inspire people, and provide support. All of the above. Debate, contemplate, dither, debate, contemplate. Give the orders and not be distracted by nay sayers.

No.

Yes. See more in Ted's Guides.

A 21st century leader will know ...

Nothing, and rely entirely on their staff. Everything, and ignore their staff. What innovation is, and understand its benefits.

A leader should be well informed. That means consulting staff and doing their own research; and perhaps consulting with external experts too. Innovation is vital! To excel and become a leader you need to innovate.

Yes, innovation is vital! To excel and become a leader you need to innovate.

SWOT Analysis

SWOT Analysis looks at ...

Strengths, Weaknesses, Opportunities and Threats The IQ of intelligent people Special Weapons Operations and Tactics Service Workflows, Operations, and Tooling

No.

Yes.

Why should you record strengths?

For the iron-man challenge. So that the associated benefit of the strength is preserved, when you make changes to the business. To enter the league table of top corporations. To compare strengths against weaknesses.

No.

Yes, too many organisations lose some of their strengths accidentally after a business "development" process.

New science and technology provides what opportunity?

More gadgets for the staff to use. Formulas to confuse people and misinform. All the marketing and sales materials can boast the "Latest X" and "Scientifically proven". They allow you to create innovations that benefit your business.

No.

Yes, these are major drivers of innovation.

Following a SWOT analysis, action needs to be taken to ...

Review salaries and bonuses. Review security and building plans. Address weaknesses and threats, and to pursue opportunities. Stop calling Ted a "swot".

No.

Yes, take action to improve!

Training, Teaching and Learning

Training consists of ...

Pedagogy, podiatry; philosophy; and debate. Pedagogy, podiatry; presentation; and fhysics. Exposing students to information and experiences; testing that they remember; and testing that they understand what they have learnt, and can apply it to new scenarios. Being lectured to from age 5 to 21.

No, but for some it might feel like it ;-)

Yes, it is a simple process [often overlooked by some academics].

A mentor is someone that ...

Is an academically trained professional. Is skilled at their job, and they use their knowledge and understanding to train someone how to do their job well. Is anyone that is new to the job. Is on an appreticeship scheme. Works for the government, especially in the Department for Education.

No.

Yes, a mentor can quickly get a new member of staff up to speed.

A coach ...

Helps someone to review their current situation, set personal goals for improvement, commit to those goals, and work towards achieving those goals. Tells someone what personal goals to set, and how to achieve those goals. Always makes people better at sport. Is pulled by horses.

No.

Yes, the coach facilitates a generic process in which the coachee takes the necessary steps and makes their own decisions. Did you know that Innovation Future Specialist offers innovation coaching to UK clients?

Science

The fundamental aspects of science are:

Lab coat, microscope and multimeter. Funding, theory, physics and focus. Physics, chemistry, biology and engineering. Science, technology, engineering and maths. Observations and experimentation; develop understanding - theory; and validation of theory Science park, university and laboratory.

No. You might like Science Myths. See the science checklist in Ted's Guide to Science.

Yes, this forms the basis of all science - but don't tell the computer scientists / data scientists / rocket scientists ;-) You might like Science Myths. See the science checklist in Ted's Guide to Science.

If you want to know more: Ted's Guides.

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