According to the Firm-Oriented Definition of Innovation,copies or Modifications of a Competitor's

question 7

True/False

According to the firm-oriented definition of innovation,copies or modifications of a competitor's product qualify as new.

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Definitions:

Idea Generation

The act of generating, expanding, and conveying innovative thoughts.

Opportunity Recognition

The ability to identify a potentially profitable or beneficial business idea, market niche, product, or service before others.

Entrepreneurs

Individuals who start, design, and manage a new business venture, often taking on greater than normal financial risks.

Idea Generation Strategies

Techniques and approaches used to generate creative and innovative ideas, often involving brainstorming, research, and collaboration.