Entrepreneurship and Innovation

This is an open book exam.
There are four (4) questions in this exam. All questions are to be answered.

All questions are of equal value (7.5 marks). This exam is worth 30% of the total marks for this course.

Answers to this exam must be submitted to Turnitin.

QUESTIONS:

1. Outline and discuss the concepts of innovation management and entrepreneurship. In your discussion, consider the similarities of and differences between the concepts. Illustrate your discussion with examples.
2. Outline and evaluate the role of innovation champions in fostering innovation within organisations. Identify their key characteristics and examine why they are so important to organisations in the contemporary business landscape. Illustrate your discussion with examples.
3. Innovation can create ‘new market space’ within an industry. Outline and discuss the process of creating new market value. Also discuss various strategies that may lead to creating ‘new market space’. Illustrate your discussion with examples.
4. Outline and discuss the key features of the social economy. In your answer, provide an explanation of the concept’s importance to the contemporary business environment. Illustrate your discussion with examples.