Answer to Question 1
The five steps in the wheel of innovation as described as Gary Hamel are as follows:
Imagining: thinking about new ways of doing something or extending existing ways.
Designing: testing ideas at the conceptual level by discussing them with colleagues, customers, clients, or technical experts; building models or prototypes that can be tested.
Experimenting: examining the practical use of the idea and its financial value through experiments and feasibility studies.
Assessing: identifying the strengths and weaknesses of the idea, its costs and benefits, and potential markets, and how it will be used by customers; making constructive changes based on the assessments.
Scaling: deploying resources and developing new processes to produce the innovation on a commercial basis; incorporating what has been learned into the production and marketing of the product or service.
Answer to Question 2
C
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