Question

Question 1
A business model “has value in understanding how companies of all sizes can convert technological potential into economic value “(chesbrongh 2013).
Discuss this statement and support your answer with relevant examples.( 25 marks)

Question 2
In her article “How to kill creativity “
Teresa Amabile states “when it comes to granting freedom,the key to creativity is giving people autonomy “Amabile 1998”.
Critically access the importance of this culture this statement for developing an organizational culture that fosters innovation.( 25 marks).

Question 3
Ocean plastic pollution is now seen as a serious global crisis,and there is a growing consensus across.stakeholders groups all over the world that such pollution needs to be managed .
Discuss how a multinational retailer might combat this pollution with it approach to corporate social responsibility.CSR and innovation. Support your answer with examples ( 25 marks)

Answer 1

Question 1:

Answer: A business model can be described as a framework that links the technologies and ideas along with the economic outcomes. This is exclusively used within the context of entrepreneurial firms. It also highlights how the companies of all sizes can transform their technological potential into an effective business model. Therefore, it is important to mention that every company has a model, even if it is articulated or not. Business models are a must for every business and it must be managed once developed. It is important to mention that the management of a business is an uncertain and risky job. There are several ways of commercializing an idea and the majority of them are highly unlikely to succeed.

For example, the open innovation approach or the business model of IBM requires them to highly focus on the value chain of the customers. The open innovation model requires them to stick out of the traditional business model design. It is important to mention that IBM injects discipline into the value chain through the usage of external technologies.

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