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Questions and Answers
What is the primary outcome of innovations?
What is the primary outcome of innovations?
- Elimination of outdated technologies
- Development of new or improved products, processes or ideas (correct)
- Reduction of production costs
- Increased market competitiveness
Which of the following best describes innovations?
Which of the following best describes innovations?
- Replications of existing products
- Temporary changes in consumer preferences
- Variations in traditional processes
- New knowledge impacting improvements (correct)
Innovation can lead to improved performance in which area?
Innovation can lead to improved performance in which area?
- Cost reduction
- Market share
- Employee satisfaction
- Productivity and efficiency (correct)
What is NOT a characteristic of innovations?
What is NOT a characteristic of innovations?
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How do innovations contribute to businesses?
How do innovations contribute to businesses?
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