Page 22 - THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATIONS

UNIT 1
MODULE 3: CREATIVITY AND INNOVATION (cont’d)

3. Disruptive, Incremental and Open innovations

(a) Concept of disruptive and incremental innovations.

(b) Effect of disruptive and incremental innovations on the entrepreneurial process.

(c) The concept of open innovation.

(d) Dynamics of open innovation.

(e) Impact of open source innovation.

4. Nurturing and Managing Innovation

Conditions for effective innovation:

(a) Micro/Organisational level

(i) incentives for innovating;

(ii) internal policy; and,

(iii) organisational culture:

- inspiration;

- observation;

- listening to consumer; and,

- organisational structure.

(b) Macro/National level

Policy development:

(i) social (for example, changing demographics);

(ii) political (for example, internal governance, stability);

(iii) economic (for example, entrepreneurship policies, incentives);

(iv) environmental (regulations, environmental responsibility);

(v) cultural (respect for indigenous customs and practices); and,

(vi) ethical (adherence to sound principles and business practices).

CXC A31/U2/13 17 www.cxc.org