Unit 1, Topic 2 - to date

__________ occurs when an original is improved upon, or a significant contribute is made to the existing product.

• invention

• entrepreneurial

• radical

• innovation

Which of the following is not part of a PEST analysis?

• political

• environmental

• socio-cultural

• technological

population growth rate would be an example of which factor in a PEST?

• political

• technological

• technological

• socio-cultural

unemployment rate would be an example of what factor in a PEST

• economic

• political

• socio-cultural

• technological

select all that are skills/characteristics of entrepreneurs? (according to the textbook)

• Attitude

• Boldness

• Confidence

• Discipline

• Enthusiasm

Which entrepreneur skill/characteristic is being defined:

ability to set SMART goals and eliminate distractions.

• Perseverance

• Discipline

• Motivation

• Adaptability

Which of the following is not an innovation theory?

• Architectural

• Radical

• Technological

• Incremental

_________ innovation happens when a smaller business with fewer resources is able to successful challenge an established business in the market

• Incremental

• Architectural

• Disruptive

• Radical

_________ innovation is taking the components of a product and reassembling or redesigning them in a new way

• Disruptive

• incremental

• Radical

• Architectural

Differential advantage builds __________ advantage by making consumers ______ to a business and its products.

• industry, compatible

• competitive, loyal

• business, accessible

• innovation, confident