INNOVATION AND CREATIVITY
INNOVATION IN ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Discourage employee suggestions
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Do things “by the book.”
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Maximize risk
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Research
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Detailed explanation-1: -Campbell breaks down the innovation process into a sequence of seven steps: preparation, exploration, incubation, insight, prototype and trial, planning and execution, and reflection and evaluation.
Detailed explanation-2: -Such innovation can come from continuously analyzing market trends, listening to your customers, suppliers and advisors, and studying what competitors are doing in order to spot opportunities and jump on them. Also, it’s often useful to look at what’s happening in your industry in other countries.
Detailed explanation-3: -Innovation strategies can be classed as proactive, active, reactive and passive (Dodgson et al. 2008).
Detailed explanation-4: -Stage 1: Idea Generation and Mobilization. The generation stage is the starting line for new ideas. Stage 2: Advocacy and Screening. Stage 3: Experimentation. Stage 4: Commercialization. Stage 5: Diffusion and Implementation. 01-Apr-2007