ENTREPRENEURSHIP

Detailed explanation-1: -Product innovations are more important than process innovations to organizations because they are less visible than process innovations. An innovation can be competence enhancing to one firm, while competence destroying for another. A modular innovation significantly affects the overall configuration of a system.

Detailed explanation-2: -In early stages, product innovation is the best way to reduce technological and market uncertainty. As a result, product innovation dominates in the early stages. But later on, as technological and market uncertainty reduces, firms focus on efficiency. At that time, process innovation becomes more important.

Detailed explanation-3: -A technological product and process innovation, abbreviated as TPP innovation, is an innovation involving the implementation of technologically new products and processes and significant technological improvements in products and processes.

Detailed explanation-4: -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-5: -A process innovation is the implementation of a new or significantly improved production or delivery method. This includes significant changes in techniques, equipment and/or software.