In the Context of the Steps of the Innovator's Imperative

question 15

Multiple Choice

In the context of the steps of the innovator's imperative, which of the following is a difference between going local and reaching out?

• A) Going local involves integrating acquired new knowledge with the local knowledge base, whereas reaching out involves questioning preexisting assumptions.
• B) Going local involves observing how potential clients live and work, whereas reaching out involves collaborating with individuals with whom employees have developed strong relationships.
• C) Going local is the final step of the innovator's imperative, whereas reaching out is the first step of the innovator's imperative.
• D) Going local involves approaching people at company headquarters to examine a problem from new angles, whereas reaching out involves understanding the clients.

---

Definitions:

End-of-period Spreadsheet

A tool used for accounting that summarizes all accounts and balances at the end of a period to prepare financial statements.

Balance Sheet Columns

The sections in a balance sheet that categorize and display a company's assets, liabilities, and shareholders' equity at a specific point in time.

Net Income

The complete income of a company once all costs and taxes are subtracted from its total revenue.

Net Loss

The result when a company's total expenses exceed its total revenues during an accounting period, indicating a decrease in owner's equity.