The innovation process includes activities related to the creation of new products (designing and developing new products) with the ability to make something different to increase product value (redesigning business procedures).

INNOVATION IN ENTREPRENEURSHIP

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

A	Correct
B	Salah
C	Either A or B
D	None of the above

Explanation:

Detailed explanation-1: -There are six stages in the process of innovation: generating ideas, capturing ideas, beginning innovation, developing a business-effectiveness strategy, applying business improvement, and decline. Generating ideas is the exhilarating part of the process.

Detailed explanation-2: -Service innovation refers to a new or significantly improved service concept, product or process in a new or existing market.

Detailed explanation-3: -Create customer segments. Divide your customers up using their common characteristics such as behaviors and demographics. Collect customer feedback. Think of ways to improve per customer needs. Prioritize new development opportunities. Build a prototype to test customer response.

Detailed explanation-4: -Observe Your Customers to Uncover New Problems-and Opportunities. Create New Solutions. Prototype and Learn in the Market. Implement the Best Ideas. 14-Jun-2016

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INNOVATION AND CREATIVITY

INNOVATION IN ENTREPRENEURSHIP