Brooklyn wants her innovation to succeed, so she makes sure that theres a market for her innovation and that she has plenty of money and resources on hand. Which step of achieving innovation is Brooklyn demonstrating?

INNOVATION IN ENTREPRENEURSHIP

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Brooklyn wants her innovation to succeed, so she makes sure that there’s a market for her innovation and that she has plenty of money and resources on hand. Which step of achieving innovation is Brooklyn demonstrating?

A	Reducing risk
B	Making connections
C	Being open-minded and flexible
D	Researching

Explanation:

Detailed explanation-1: -The invention involves the creation of something entirely new, while innovation involves the improvement or modification of something that already exists. Creativity, on the other hand, is the ability to generate new ideas or concepts.

Detailed explanation-2: -There are many risks associated with innovation such as the loss of money, the loss of time, the loss of company reputation/image, and the loss of potential.

Detailed explanation-3: -The correct answer is duplication. This is because duplication is the exact copying of the existing project, idea or product and therefore it is not an innovation. Innovation involves coming up with new ideas or developing existing ones into better ones so that they can look new.

Detailed explanation-4: -Innovation plays a key role in introducing novelty to existing product lines or processes, leading to increased market share, revenue, and customer satisfaction. Sometimes innovation is used to upgrade the operating systems of the business or to introduce modern technologies for automation.

There is 1 question to complete.

INNOVATION AND CREATIVITY

INNOVATION IN ENTREPRENEURSHIP