Many successful entrepreneurial firms do not develop their own technology; rather, they combine and distribute inventions and innovations generated by others upstream. This is known as:

Question

Quizplus · Accepted Answer

Turnkey innovation refers to the process of developing a product or service by incorporating pre-existing technology, rather than creating new technology. Many successful entrepreneurial firms follow this approach, as it allows them to bring products to market more quickly and cost-effectively. Therefore, option A is the correct answer. Option B (technology indigenization) refers to the process of adapting foreign technology to suit local needs, and option C (benchmarking) refers to the process of comparing one's business practices to industry leaders. Option D (reengineering) refers to the process of reorganizing and redesigning business processes to improve efficiency and effectiveness.

Many Successful Entrepreneurial Firms Do Not Develop Their Own Technology;