Podcast
Questions and Answers
What is a key characteristic of successful innovations mentioned in the text?
What is a key characteristic of successful innovations mentioned in the text?
- Stagnating the market for products or services
- Improving the quality of products or services (correct)
- Reducing the quality of products or services
- Increasing costs of products or services
Which stage involves questioning the feasibility of an idea, product, or service?
Which stage involves questioning the feasibility of an idea, product, or service?
- Prestart-up stage (correct)
- Early growth stage
- Start-up stage
- Late growth stage
What is a crucial aspect for an entrepreneur transitioning from a new venture to a long-term enterprise?
What is a crucial aspect for an entrepreneur transitioning from a new venture to a long-term enterprise?
- Staying in the prestart-up stage
- Developing it into a small business or a bigger company (correct)
- Focusing only on early growth
- Avoiding the start-up stage
Which of the following is NOT an example of a successful innovation from the text?
Which of the following is NOT an example of a successful innovation from the text?
What is the role of invention in the innovation process?
What is the role of invention in the innovation process?
How is development different from innovation in the context of entrepreneurship?
How is development different from innovation in the context of entrepreneurship?
What is a key requirement for an innovation to be successful?
What is a key requirement for an innovation to be successful?
In the context of entrepreneurship, what is necessary for a new venture to succeed?
In the context of entrepreneurship, what is necessary for a new venture to succeed?
What might happen to the entrepreneur's profits if the competitor offers better innovations?
What might happen to the entrepreneur's profits if the competitor offers better innovations?
Why must businesses, regardless of size, adapt innovative approaches?
Why must businesses, regardless of size, adapt innovative approaches?
What advantage do small businesses have over large businesses regarding business concept switching?
What advantage do small businesses have over large businesses regarding business concept switching?
In large businesses, what approach have they started to engage in to create innovation?
In large businesses, what approach have they started to engage in to create innovation?
