Question 94

Given below are two statements

Statement I: Innovation, defined as the creation or adoption of new ideas, products, services, programs, technology, policy, structure, or administrative systems, is acknowledged as a source of sustained competitive advantage for many organisations.
Statement II: The innovation adoption process does not depend upon the 'initiation stage,' which includes recognition of a need, knowledge acquisition, initial attitude formation, and innovation selection.

In light of the above statements, choose the correct answer from the options given below:

Solution

Statement I can be said to be true: Innovation is about finding creative solutions to commonplace problems or problems that traditional solutions solve only inefficiently. Innovation is indeed the creation or adoption of new ideas, products, services, programs, technology, policy, structure, or administrative systems.

Statement II is false: Adopting innovation is not a blind endeavour in business settings; it requires thorough analysis of requirements and feasibility.

The correct answer, therefore, should be option C. Statement I is true, but statement II is false.

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