Match These Types of Innovation with Their Descriptions (Based on Francis

question 83

Multiple Choice

Match these types of innovation with their descriptions (based on Francis and Bessant 2005) .
-Paradigm innovation.

• A) The way they are introduced to market
• B) Product/service offered
• C) Improvement to a part of product/service
• D) Underlying business models

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Definitions:

Moral Hazard

The increase in risk-taking behavior when an individual or entity is protected from the consequences, typically in an insurance or financial context.

Insurer

An insurer is a company that offers insurance policies to individuals or entities, providing financial protection against losses or damages in exchange for premiums.

Designated Beneficiary

A person named in a legal document who is authorized to receive benefits or assets upon the death of the owner or holder of the document.

Specific Sum

A precise amount of money defined and agreed upon in a contractual or legal context.