ENTREPRENEURSHIP

Detailed explanation-1: -Setting mechanisms for information flow and processing, decision making processes, conflict resolution, and risk sharing, are characteristics of which stage of innovation network management? A. Set-up stage.

Detailed explanation-2: -To be a truly innovative entrepreneur, you need to be creative, always learning, and open to new ideas. You also need to have the courage to take risks and the determination to see your vision through. If you have these traits, you have what it takes to succeed as an entrepreneur.

Detailed explanation-3: -Strive for constant improvement – Innovation is about constantly improving and looking for ways to do things better both as an individual and as an organization. You need to make small, continuous improvements to succeed in the long run and often the biggest innovations result from those smaller innovations.

Detailed explanation-4: -Question 1 Innovation is defined as: a) the commercialization of a new product or process.

Detailed explanation-5: -Answer: Creative Destruction is the process referred to in by economist Joseph Schumpeter to the process of entrepreneurs developing new products that over time make current products obsolete.