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)
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)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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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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