Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Small and Medium Enterprises (SMEs) have a unique set of challenges that can impede innovation. The question should be small to medium enterprises (SMEs) innovate or not? This is a dilemma for many business owners and leaders in the era of Industry 4.0. The answer is a complex one. It depends on the specific business, available resources, market landscape, etc.
a) Discuss three (3) types of resources that every innovator needs to smoothly implement their innovations. (15 marks).
b) Discuss the barriers to the Diffusion of Innovation/Adoption process in an entrepreneurial firm. (10 marks).
c) Evaluate why SMMEs should be innovative organisations in the era of industry 4.0 (15 marks).
d) Suggest five (5) ways in which business organisations in Botswana might encourage its employees to generate new ideas and be innovate. Give examples from companies or organisations of your choice to illustrate your points. (10 marks)
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
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- While universities can play a significant role in fostering entrepreneurship among students several factors can limit entrepreneurial behavior and intention among universities as students. Write an assignment discussing and recommending strategies to overcome the limitation to increase use and foster the entrepreneurial behavior and intentions in university students. These limitation includes: Academic work loads and pressure to excel in traditional coursework can leave students without necessary knowledge and intentions in university stydentsarrow_forwardOver time have changes in technology tended to push businesses toward becoming bigger or smaller? How and why? (Think here about how many acres one person can farm using horses versus how many acres that same person cam farm using modern machinery.)arrow_forwardIs there anything stopping businesses from moving to the cloud? Please explain the merits and downsides of this approach.arrow_forward
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