Question

Which of the following statements is a true comparison of results of modern technological innovations?

A) Innovation involves using new knowledge to transform organizational processes or create commercially viable products and services.
B) Innovation occurs when new combinations of ideas and information bring about positive change
C) Sources of new knowledge include latest technology, results of experiments, creative insights and competitive
D)All of the above are true.

Answer 1

The correct answer is D) All of the above are true, encapsulating the essence that modern technological innovation involves using new knowledge, fostering new idea combinations, and deriving from various sources including technology advancements.

Step-by-step explanation:

The statement that accurately describes the comparison of results of modern technological innovations is D) All of the above are true. Innovation entails utilizing new knowledge in transforming processes, creating viable products or services, and stemming from various sources like technology, experiments, and creative insights. Technological change is described as a combination of invention—advances in knowledge—and innovation, where technology implies various ways of improving or creating new products and services and improving production quality. In the context of market competition, innovation can provide firms with a temporary advantage over their competitors, allowing them to earn above-normal profits. Hence, innovation is both the process and the incentive for progress in technology.