INNOVATION AND CREATIVITY
INNOVATION IN ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -The invention of the motorcycle make them realize that they can also ride bikes without making any extra efforts, they just have to click the switch and its starts automatically. In this example, the thought of creation of a new traveling motorcycle is creativity, but the actual invention of it is innovation.
Detailed explanation-2: -Process need innovations are those which are created to support some other process or product. The development of the ATM (automatic teller machine) and now web-based and Internet banking options allow individuals to do their banking when the bank is closed and without relying on tellers being available.
Detailed explanation-3: -Product innovation: Creating a new object, device or item, like a smart watch. Radical innovation: Creating a unique business solution, like cloud computing. Process innovation: Creating an alternative method to production or processes, like mass customization. More items •21-Jul-2022
Detailed explanation-4: -Sustaining, or incremental innovation. Breakthrough innovation. Disruptive innovation. Basic research. 07-Nov-2022