What are invention, innovation and imitation? How are these concepts interrelated?

MANAGEMENT QUESTIONS

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From the 5 questions below, please choose 3 questions to answer completely.

1.What must strategic leaders do to develop and sustain an effective organizational structure?

2.Why are strategic and financial controls an important aspect of strategic leadership?

3.Give and provide an example of corporate entrepreneurship.

4.What are invention, innovation and imitation? How are these concepts interrelated?

5.How do firms develop innovations internally?

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