Which one of the following is not a major area of entrepreneurial innovation as suggested by Joseph…
In 'The Theory of Economic Development', Joseph A. Schumpeter identified five specific areas of entrepreneurial innovation: product innovation (new good), process innovation…
Choose your answer
Which one of the following is not a major area of entrepreneurial innovation as suggested by Joseph Schumpeter ?
Answer and explanation
Correct answer D
In 'The Theory of Economic Development', Joseph A. Schumpeter identified five specific areas of entrepreneurial innovation: product innovation (new good), process innovation (new method of production), market innovation (opening a new market), input/supply innovation (new source of raw material), and industrial organization innovation. 'Structural innovation' as a standalone internal administrative label is not one of Schumpeter's five areas.
Practice for these exams
-
UGC NET Management