ENTREPRENEURSHIP

Detailed explanation-1: -Which of the following is most clearly an example of process innovation? A donut chain develops a method that enables donuts to be baked in 15 minutes rather than the standard 30 minutes.

Detailed explanation-2: -Which of the following statements is true of the different types of innovations? the knowledge base underlying the innovation becomes more common. Which of the following statements is true of component innovation? Component innovation does not significantly affect the overall configuration of a system.

Detailed explanation-3: -Which of the following describes the most typical evolution of technology’s performance if it is plotted against effort and investment? The more a technology is adopted, the more complementary goods are available for it.

Detailed explanation-4: -An innovation can be competence enhancing to one firm, while competence destroying for another. An innovation that changes the overall design of a system or the way its components interact with each other. A technology that fulfills a similar market need by building on an entirely new knowledge base.