INNOVATION AND CREATIVITY
INNOVATION IN ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Short term goals in the business
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How many times a business has changed their product.
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A “new idea, creative thoughts, new imaginations in form of device or method".
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the exclusive and assignable legal right, given to the originator for a fixed number of years, to print, publish, perform, film, or record literary, artistic, or musical material.
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Detailed explanation-1: -Innovation in its modern meaning is “a new idea, creative thoughts, new imaginations in form of device or method”. Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.
Detailed explanation-2: -Innovation is a process by which a domain, a product, or a service is renewed and brought up to date by applying new processes, introducing new techniques, or establishing successful ideas to create new value. The creation of value is a defining characteristic of innovation.
Detailed explanation-3: -It means a coming up with a unique idea that introduces a new way of thinking to the market.
Detailed explanation-4: -Merriam Webster states that innovation is the introduction of something new, a new idea, method, or device: a novelty.
Detailed explanation-5: -Creativity is typically centered around original thought and knowledge, which unleashes potential and is an integral part of idea generation. Innovation, on the other hand, is used to turn the creative idea that you come up with into a viable solution.