Midterm

Question 1

Invention

Answer 1

A new useful process machine improvement etc. that did not exist previously and that is recognized as the product of some unique intuition or genius

Question 2

innovation

Answer 2

something new or different introduced the act of innovating; introduction of new things or methods

Question 3

commercialization

Answer 3

The process or cycle of introducing a new product or production method into the market ; example the actual launch of a new product is the final stage of new product development

Question 4

sustainability

Answer 4

relating to or being a method of harvesting or using a resource so that the resource is not depleted permanently damaged

Question 5

Technology

Answer 5

The branch of knowledge that deals with the creation and use of technical means and they’re into relation with life society and the environment

Question 6

social innovation

Answer 6

New strategies concepts ideas and organizations that meet social needs of all kinds and that extend and strengthen civil society

Question 7

disruptive innovation

Answer 7

helps create a new market and value network and eventually goes on to disrupt an existing market and value network displacing an earlier technology

Question 8

frugal innovation

Answer 8

discover new business models reconfigure value chains and re-design products to serve users who face extreme affordability constraints in a sustainable manner

Question 9

radical innovation

Answer 9

provide something new to the world that we live in by uprooting industry conventions and by significantly changing customer expectations in a positive way

Question 10

product innovation

Answer 10

improving upon a product design or features

Question 11

process innovation

Answer 11

improving upon a process efficiency and or effectiveness

Question 12

packaging innovation

Answer 12

improving upon the packaging of products

Question 13

delivery innovation

Answer 13

improving upon the means by which a product or process or service is delivered to its user

Question 14

three aspects of commercialization

Answer 14

The funnel which is a sensual to look at many ideas to get one or two products or businesses that can be sustained a long-term it is also a stage wise process and each stage has its own key goals and milestones it is also vital to involve key stakeholders early including customers

Question 15

what are the different types of innovations

Answer 15

social innovation, disruptive innovation, frugal Innovation, radical Innovation, product innovation, process innovation, packaging innovation, and delivery Innovation

Question 16

current green technological trends (3)

Answer 16

biofuels(produced from oils/fats,manure or waste materials, algae), tidal energy (energy predictable from
harvested waves), nanotechnology (nano particles to destroy contaminants)

Question 17

sustainable business

Answer 17

enterprise with minimal negative impact on global or local environment/community.

Question 18

four criteria for green business

Answer 18

incorporated principles of sustainability into each business decision, supplies environmentally friendly products or services to replace demand for non green options, greener than traditional competition, made an enduring commitment to environmental principles in its business operations

Question 19

green technologies

Answer 19

application of one or more of environmental science, green chem, environmental monitoring and electronic devices to monitor, model and conserve the natural environment and resources to curb negative impact of human involvement

Question 20

triple bottom line

Answer 20

captures an expanded spectrum values and criteria for measuring organizational/societal success: economic, ecological and social