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What is a key benefit of business model innovation?
What is a key benefit of business model innovation?
- Reducing research and development costs
- Improving supply chain efficiency
- Accessing new markets and customers (correct)
- Increasing employee satisfaction
How did online travel agencies like Booking.com and Expedia disrupt the travel industry?
How did online travel agencies like Booking.com and Expedia disrupt the travel industry?
- By developing a loyalty program for frequent travelers
- By partnering with airlines to offer discounted flight tickets
- By introducing virtual reality tours of travel destinations
- By offering a centralized platform for booking various travel services (correct)
What is a key advantage of open innovation?
What is a key advantage of open innovation?
- Lower marketing and advertising costs
- Reduced need for internal research and development
- Access to external expertise and resources (correct)
- Increased employee retention rates
Which of the following is an example of a collaborative innovation model?
Which of the following is an example of a collaborative innovation model?
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How can business model innovation help companies respond to changing market conditions?
How can business model innovation help companies respond to changing market conditions?
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Which of the following is a potential benefit of developing innovative products and services faster?
Which of the following is a potential benefit of developing innovative products and services faster?
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What is the primary role of an innovation ecosystem?
What is the primary role of an innovation ecosystem?
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Which of the following is an example of business model innovation in the travel industry?
Which of the following is an example of business model innovation in the travel industry?
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How can open innovation help companies develop innovative products and services faster?
How can open innovation help companies develop innovative products and services faster?
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Which of the following is NOT a potential benefit of business model innovation?
Which of the following is NOT a potential benefit of business model innovation?
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