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Questions and Answers
Global entrepreneurship has the potential to drive innovation and economic growth worldwide.
True
Edison's approach to R&D involved randomly conducting experiments.
False
Inventions are not considered intellectual property.
False
Allocating resources for research and development involves only budget considerations.
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Research and development facilities do not need to be equipped with state-of-the-art equipment and tools.
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Global sourcing is the practice of sourcing goods and services exclusively from local suppliers.
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Global sourcing typically limits access to specialized expertise in different regions.
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Incorporating sustainable practices and ethical sourcing only enhances brand reputation without any impact on environmental or social outcomes.
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Study Notes
Global Entrepreneurship
- Global entrepreneurship has the potential to drive innovation and economic growth worldwide.
- It often identifies opportunities in international markets that are not yet fully addressed.
Research and Development
- Edison's approach to R&D involved systematic efforts.
- Inventions are considered intellectual property.
- Allocating resources for R&D involves more than just budget considerations.
- Research and development facilities require state-of-the-art equipment and tools.
Innovation
- Process innovation can occur in any aspect of a company's operations, including how customer orders are handled.
- Open innovation involves leveraging the contributions of people or companies outside the corporate entity.
Global Sourcing
- Global sourcing is the practice of sourcing goods and services from suppliers around the world to optimize supply chain efficiency.
- One of the benefits of global sourcing is reduced production costs due to leveraging cost advantages in different regions.
- Cultural differences and logistical complexities are challenges associated with global sourcing.
- Supplier diversification and risk mitigation are key strategies for effective global sourcing.
- Global sourcing provides access to specialized expertise in different regions.
Supply Chain Management
- Efficient inventory management and logistics optimization are crucial for supply chain optimization.
- Technology integration, such as the use of automation, AI, and IoT, can optimize production processes and improve real-time decision-making in supply chain management.
- Incorporating sustainable practices and ethical sourcing has a positive impact on both brand reputation and environmental or social outcomes.
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Description
This quiz covers topics related to entrepreneurship, innovation, and intellectual property. It explores the potential of global entrepreneurship, R&D approaches, and the importance of intellectual property protection.
