Entrepreneurship Unit 1- Module 3

Mr. Coral Draw, the owner of a graphic arts company would like to ensure that his work is not copied. Which of the following would be needed?

• Patent

• Copyright

• Trademark

• Industrial design

The reconfiguration of an established system to link existing components in a new way is referred to as

• Modular innovation

• Architectural innovation

• Disruptive innovation

• Incremental innovation

Using new components with different design concepts of a product line is known as

• Marketing skill

• Modular innovation

• Entrepreneurial talent

• market segmentation

What is open innovation?

• A type of new car idea

• A position that companies must only use internal ideas

• A position that companies should use external ideas first

• A position that companies can use external and internal ideas

Online learning is common as a means of education. When this was first launched, what type of innovation would this have been?

• Modular

• Disruptive

• Incremental

• Architectural

Entrepreneurship policies and government incentives which impact innovation are classified as

• social

• political

• economic

• environmental

Which of the following types of innovation involves a series of small improvements to an existing product or product line that usually helps maintain or improve its competitive position over time?

• Open

• Disruptive

• Incremental

• Architectural

Which of the following is NOT considered a means of encouraging micro level innovation?

• Ethical practices

• Employee recognition

• Organizational structure

• Listening to the customer

Which of the following sources of innovation led to an increase in the number of all inclusive hotels?

• Deregulation

• New Technology

• New political rules

• Change in business models

Which of the following IPP would an entrepreneur use to legally protect a newly created process of manufacturing edible oil

• Trade secret

• Branding

• Copyright

• Licence