GK
INVENTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An improvement of an existing technology.
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version
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innovation
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model
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prototype
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Explanation:
Detailed explanation-1: -Technological innovation creates opportunities for entrepreneurs to found new organizations and establish competitive positions as incumbents’ sources of advantage decay. Technological innovation also creates uncertainty and risk for incumbents because its outcomes can be only imperfectly anticipated.
Detailed explanation-2: -Incremental innovation Most innovations are incremental, gradual and continuous improvements in the existing concepts, products or services in the existing market.
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