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Questions and Answers
What is one of the key characteristics of innovation?
What is one of the key characteristics of innovation?
- It eliminates the need for risk-taking.
- It is only conducted by large organizations.
- It is a strictly linear process.
- It involves solving problems under uncertainty. (correct)
How does innovation benefit organizations?
How does innovation benefit organizations?
- By ensuring all actors follow a set path.
- By achieving a competitive advantage. (correct)
- By minimizing the need for decision-making.
- By creating a less iterative process.
Which aspect of innovation challenges traditional processes?
Which aspect of innovation challenges traditional processes?
- It is often rapid and straightforward.
- It is non-linear and iterative. (correct)
- It requires no collaboration among actors.
- It only focuses on technology-driven solutions.
What process do individuals engage in during innovation?
What process do individuals engage in during innovation?
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What describes the nature of innovation's practice?
What describes the nature of innovation's practice?
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Study Notes
Innovation Overview
- Innovation is a collaborative social process involving various participants and stakeholders.
- It demands problem-solving skills and decision-making under uncertain conditions, highlighting the necessity of assuming risks.
- Organizations leverage innovation to secure a competitive edge in their respective markets.
- The process of innovation is characterized as non-linear and iterative, indicating that it often requires multiple cycles of experimentation and learning.
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