What type of innovation involves creating entirely new products or processes that disrupt existing markets?
Incremental
Disruptive
Breakthrough
Radical
Correct Answer :
B. Disruptive
Related Questions
What is the term for a legal document that outlines the rights and responsibilities of partners in a business venture?
Business plan
Partnership agreement
Memorandum of understanding (MOU)
Articles of incorporation
Which stage of the entrepreneurial process involves turning an idea into a tangible product or service?
Opportunity recognition
Idea generation
Product development
Market entry
Which of the following is NOT a stage in the product development process?
Conceptualization and ideation
Market research
Manufacturing
Post-launch evaluation
What is the term for a legal form of business in which there is one owner who has unlimited personal liability?
Corporation
Partnership
Sole proprietorship
Limited liability company (LLC)
What is the term for a person who starts and manages a business with the aim of making a profit?
Investor
Entrepreneur
Innovator
Executive
Which type of entrepreneurship involves creating and operating a business primarily for the lifestyle benefits it provides to the owner?
Serial entrepreneurship
Social entrepreneurship
Lifestyle entrepreneurship
Corporate entrepreneurship
What term is used to describe the process of identifying, assessing, and developing a business idea into a viable business?
Business development
Idea refinement
Business planning
Opportunity recognition
What is the term for the process of bringing a product or service to market faster than competitors?
First-mover advantage
Rapid prototyping
Agile development
Market segmentation
What is a SWOT analysis used for in entrepreneurship?
Evaluating internal and external factors influencing a business
Identifying potential customers
Calculating financial projections
Assessing employee performance
Which type of entrepreneurship is focused on creating social or environmental impact rather than purely financial profit?
Social entrepreneurship
Corporate entrepreneurship
Serial entrepreneurship
Lifestyle entrepreneurship
What type of innovation involves making incremental improvements to existing products or processes?
Disruptive
Radical
Incremental
Breakthrough
What is the term for a legal protection granted to authors, artists, and inventors for their creations?
Patent
Copyright
Trademark
Trade secret
Which of the following is NOT a common method of market entry for international expansion?
Franchising
Licensing
Insourcing
Joint venture
Which type of market research involves gathering information directly from people through surveys or interviews?
Primary research
Secondary research
Qualitative research
Quantitative research
What is the term for a legally recognized entity that separates the personal assets of the owners from the business assets?
Sole proprietorship
Partnership
Limited liability company (LLC)
Corporation
What is a unique selling proposition (USP) in marketing?
A strategy for selling products at a higher price
A distinctive feature or benefit that sets a product apart from competitors
The process of selling products to unique customer segments
A pricing strategy for premium products
What is the term for the process of bringing together people, capital, and resources to start and run a business?
Incubation
Formation
Entrepreneurship
Aggregation
Which of the following is NOT a common characteristic of an entrepreneurial mindset?
Risk aversion
Creativity
Resilience
Adaptability
What is the term for a document that outlines a company's mission, vision, goals, and strategies?
Business plan
Marketing plan
Financial statement
Operational manual
What is the process of generating, developing, and communicating new ideas for business development called?
Market research
Product development
Innovation
Business planning
What is the term for the process of determining the worth of a business or an asset?
Valuation
Appraisal
Pricing
Estimation
What is the term for the process of selling a product or service to a foreign market?
Exporting
Outsourcing
Importing
Domestication
Which type of innovation involves making significant improvements to existing products or processes?
Disruptive
Incremental
Breakthrough
Radical
What is a business model?
A visual representation of a company's structure
The way a company creates, delivers, and captures value
A list of all the employees in a company
The physical location of a business
What is the primary characteristic of an entrepreneur?
Risk aversion
Innovation and risk-taking
Following established norms
Avoiding challenges
Which legal form of business provides the most personal liability protection for its owners?
Sole proprietorship
Partnership
Limited liability company (LLC)
Corporation
What is the term for the process of introducing a new product or service to the market?
Market entry
Product launch
Market expansion
Market penetration
What is the term for the initial phase of a business where the entrepreneur tests the feasibility of their business idea?
Startup phase
Pilot phase
Feasibility phase
Proof of concept phase
Which of the following is NOT a common source of funding for startups?
Venture capital
Crowdfunding
Taxation
Angel investors
What is the term for the process of seeking and obtaining financial backing for a business venture?
Funding procurement
Capital acquisition
Financing
Fundraising