Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:

The right sequence in the innovation process is as follows.

A. Organising resources
B. Commercial application
C. Analytical plannings
D. Implementation

Choose the correct answer from the options given below:

Options:

D, A, B, C

C, A, D, B

B, D, A, C

A, B, C, D

Correct Answer:

C, A, D, B

Explanation:

The correct answer is option (2) - C, A, D, B

Elements in the innovation process:

Analytical planning: Carefully identifying the product or service features, design as well as the resources that will be needed.

Resource organization: Obtaining the required resources, materials, technology, human or capital resources. 

Implementation: Applying the resources in order to accomplish the plans and delivering results.

Commercial application: The provision of value to customers, reward employees, and satisfy the stake holders.