One advantage of product innovation is that a firm can expand into different product categories. The point of the risk Blank______ strategy is that if some products in one category are competing poorly, others in another category could be doing very well.Multiple choice question.seekingassimilationtransferdiversification

Which of the following is a way by which risk can be diversified?Multiple choice question.By creating a broader portfolio of products through innovationBy taking up new ventures that predict high returnsBy manufacturing only those products in which a firm has a competitive advantageBy avoiding projects that are risky

Which of the following should an organization do in order to obtain a competitive advantage through superior innovation?Multiple Choiceprovide high-quality products to create a brand-name reputation for its productsproduce products with technologies that have not been used previouslydecrease the number of product attributes and lower the price of its productsreduce the number of components that go into its productsset up a strong team to handle after-purchase support

The strategy of distinguishing one firm’s product from the competing products of other firms is called product

Which of the following is the least true about open innovation?(1 Point)It helps in creating product differentiation It helps to beat competitionIt reduces cost of product developmentIt accelerates development process

Which of the following is NOT a benefit of innovation in entrepreneurship?Question 6Answera.Increased competitivenessb.Cost reductionc.Risk avoidanced.Market expansion