Tag: public sector, private sector and global enterprises

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Questions Related to public sector, private sector and global enterprises

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

Which of the following can be seen as a part of commercial firm's intellectual property?

  1. Scientists employed by an Atomic Research Centre.

  2. Technology breakthrough at a state funded university.

  3. Expenditure on R&D.

  4. A Brand name.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Brands today are generally recognized as a key asset for creating value for a business. Any “enterprise”, in the wide sense of that term, be it for-profit, not-for-profit, small, medium-sized or large, even a country or geographical region, can develop a brand image. The potential commercial value of a brand cannot be underestimated. The brand is the central nexus of communication between an enterprise and its consumers.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

Process innovation refers to __________.

  1. The development of a new office

  2. The development of a new advertisement

  3. The implementation of a new tool or improved machinery

  4. The development of new products or services
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Process innovation means the implementation of a new or significantly improved production or delivery method (including significant changes in techniques, equipment and/or software.

Process innovation is a new or significantly improved way of doing things in a business that typically increases production levels and decreases costs.Delivery: Delivery process innovations involve tools, techniques, and software solutions to help in supply chain and delivery systems.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

Identify the best example of innovator among the following.

  1. A retail book shop

  2. Textile shop

  3. Smartphone manufacturer

  4. Mining company
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The mobile phone industry is a very innovative segment within the ICT sector and the smartphone is becoming the standard configuration among the different types of mobile devices. Technical change and new product proliferation have made this industry extremely dynamic, even if market shares are highly concentrated in companies. 

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

Innovation can be best defined as _______________.

  1. Commercialization of a new product or process

  2. Invention of a new product or process

  3. An idea of a new product or a process

  4. Implementation of a new production method
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay. 

In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.
Innovation generally refers to changing processes or creating more effective processes, products and ideas. For businesses, this could mean implementing new ideas, creating dynamic products or improving your existing services. Innovation can increase the likelihood of your business succeeding.