Entrepreneurship - Innovation

Creativity provides an avenue for the development of problem that prevents the enterprises moving ahead of competition.

• True

• False

Innovation is described as the implementation of ideas into action.

• True

• False

Improved versions of existing products best represents which type of inovation?

• Process

• Product

• Paradigm

• Position

A series of small improvements to an existing product that usually helps maintain or improve its competitive position over time best refers to

• Core innovation

• Modular innovation

• Incremental innovation

• Architectural Innovation

All of the following of sources on innovation EXCEPT

• new market

• change in technology

• existing market

• unexpected success and failure

An innovation that creates a new market and value network and eventually displaced established market leaders and alliances best refers to.

• open innovation

• disruptive innovation

• incremental innovation

• creativity

A company lets customers and partners participate in the creation of new product and services. This is a perfect example of

• innovation

• disruptive innovation

• incremental innovation

• open innovation

Which of the following is NOT the best way to nurture innovation at the MICRO level/organizational level?

• employees incentives for innovation

• internal policy development for innovation

• Creating an organiational culture of innovation

• External policy development for innovation

Which of the following is NOT effective in building an organizational culture of innovation?

• inspiration

• observation

• staff turnover

• listening to customers

Based on the creative process, the stage that include reflecting on the information collected best refers to

• Preparation

• Incubation

• Transformation

• Illumination